Category: Bitcoin Analysis

Buy dip in these bitcoin mining stocks over next two months

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Bitcoin miners have tumbled since last Thursday, following the launch of spot bitcoin exchange-traded funds . However, for some mining stocks, any weakness in the coming weeks is an opportunity, according to Bernstein. The declines are in part due to the pullback in the bitcoin price, which is down roughly 6% in the same period. In a Monday note to investors, Bernstein also pointed to lower investor appetite for mining stocks as a bitcoin proxy now that ETFs have entered the market. However, Gautam Chhugani, lead crypto analyst at Bernstein,…

Bitcoin tumbled after ETFs launched. What it means for crypto miners

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Investors in bitcoin mining stocks are closely watching the price of the cryptocurrency after the Securities and Exchange Commission’s move to allow spot bitcoin ETFs became a sell-the-news event. After the ETFs received regulatory approval last week, the flagship currency briefly touched $49,000. As the week went on, however, bitcoin wiped out its earlier gains and notched a modest weekly loss of 0.01%. Crypto mining companies are now feeling the squeeze in this latest bitcoin sell-off – and that’s evident in the big week-to-date declines for Marathon Digital and Riot…

A trade that wins if bitcoin retreats now that an ETF is finally here

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Asset managers, as well as investors, have been hoping for a spot bitcoin ETF for more than a decade. They finally got their wish this week, but it may be time to fade that news with an options trade that wins if bitcoin and related stocks decline. The reluctant approval from the SEC follows many years of rejections and delays of various attempts to launch a spot bitcoin ETF for public investing. This good news also comes just a few months after the agency was handed a definitive loss in…

Bitcoin ETFs have a key difference from their stock fund counterparts

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The Securities and Exchange Commission pushed for bitcoin ETFs to have a key difference from major stock funds, and that decision’s impact on how the funds trade will only become clear over time. The bitcoin funds that launched on Thursday are using a share redemption process that turns the underlying crypto into cash. Most ETFs primarily use an in-kind redemption process, where the underlying asset does not have to be actually sold. While the rules around share redemption do not directly impact the smaller trades that retail investors do in…

One place you won’t find a bitcoin ETF: Jack Bogle’s Vanguard

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Pavlo Gonchar | Lightrocket | Getty Images More than a dozen financial firms are involved in new bitcoin exchange-traded funds that began trading Thursday, but one of the biggest fund issuers and money managers in the world still won’t touch cryptocurrency. A Vanguard spokeswoman told CNBC that the asset management giant has no plans to create a bitcoin ETF of its own, or to even offer funds from other issuers on its trading platform. “While we continuously evaluate our brokerage offer and evaluate new product entries to the market, spot…

JPMorgan analyzes winners and losers from asset management industry on the bitcoin ETF approval

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The approval of bitcoin ETFs reverberated across the landscape of stocks tied to crypto, leading JPMorgan to lay out which names can emerge as winner and losers. A rule change from the Securities and Exchange Commission released Wednesday night allow for bitcoin-focused exchange-traded funds, a move many see as a catalyst for regular investors to trade the digital currency. More than 10 firms are now in the process of launching bitcoin ETFs. Though the updated policy makes it easier to hold the currency itself, some finance stocks have already allowed…

What major analysts say bitcoin ETF approval means for Coinbase shares

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Cryptocurrencies have faced a turbulent few days in anticipation of — and reaction to — the Securities and Exchange Commission finally approving trading in 11 new spot bitcoin ETFs in the U.S. These newly-launched ETFs spell good news for the crypto market, since they help legitimize an industry that has long been viewed skeptically by regulators and institutional investors alike. The ETFs will also ease the way for retail investors to trade in crypto, giving them the ability to buy and sell various coins through a traditional vehicle that they’re…

Cathie Wood says bitcoin ETF approval makes her $1.5 million bull case more likely

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Ark Invest’s Cathie Wood said the approval of bitcoin exchange-traded funds in the U.S. made her more convinced that the world’s largest cryptocurrency could hit her wildly bullish target. For her bull case, the ARK Invest chief sees bitcoin hitting $1.5 million by 2030. Her base case is in the $600,000 range, she said. “We think the probability of the bull case has increased with this SEC approval. This is a green light,” Wood said on CNBC’s ” Squawk Box ” Thursday. “It is the first global decentralized digital rules…

What will it cost you to buy a bitcoin ETF? Here are the cheapest and most expensive funds

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CFOTO | Future Publishing | Getty Images The bitcoin exchange-traded funds launching Thursday after the SEC’s long-awaited approval come at a wide variety of price points, with signs that a fee war is already underway. The Bitwise Bitcoin ETF (BITB) has the lowest expense ratio of all the new bitcoin funds, at 0.20%. Several other funds are close behind, including the Ark21Shares Bitcoin ETF (ARKB) at 0.21% and the iShares Bitcoin Trust (IBIT) at 0.25%. The Bitwise fund also has a temporary waiver that will eliminate the fee entirely for…

SEC’s Gensler gives in to a bitcoin ETF, but the hostility is still there

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Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), during an interview in Washington, DC, US, on Thursday, July 27, 2023.  Andrew Harrer | Bloomberg | Getty Images Securities and Exchange Commission Chair Gary Gensler’s statement on why the agency has approved the listing and trading of a group of spot bitcoin ETFs indicates that he is still hostile to the cryptocurrency in general. Gensler was faced with the difficult task of explaining why the SEC has reversed its position on bitcoin ETFs. He said that circumstances “have changed.”…