Tag: Cash

Bitcoin ETF applicants must sport cash redemption model

boss

The United States SEC is showing a clear preference for a cash redemption model in spot Bitcoin ETFs. Notably, Invesco and Galaxy Digital have recently updated their filings to align with this model, indicating a broader industry shift. This development was highlighted on Dec. 14 by finance lawyer Scott Johnsson. The updated S-1 filings of these firms now show a commitment to cash transactions to create and redeem ETF shares. This move signals a significant pivot in handling Bitcoin ETFs, contrasting with the in-kind redemption model proposed by firms like…

Bitcoin Spot ETF Applicants To Integrate Mandatory Cash Redemption Model

boss

Recent reports have revealed that the United States Securities and Exchange Commission (SEC) has implemented a “new regulatory standard” for all Bitcoin Spot Exchange-Traded Fund (ETF) applicants while awaiting approval from the regulatory body. Cash Redemption Model For Bitcoin ETF Applicants Top Bloomberg Analyst James Seyffart took to X (formerly Twitter) to share the latest update by the regulatory watchdog. According to him, every Bitcoin Spot ETF applicant will have to bend their knees to this new model. The SEC’s latest “Cash Redemption Model” came amid the spot Bitcoin ETF…

Bitcoin bulls eye BTC price comeback as cash inflows echo late 2020

boss

Bitcoin (BTC) is displaying fresh bull run signals as BTC price strength produces 7% daily gains. BTC/USD 1-hour chart. Source: TradingView BTC price bounces after snap sell-off Data from Cointelegraph Markets Pro and TradingView hints that upside momentum may continue as on-chain metrics reset. Bitcoin “needed to cool off” after hitting $44,000 this month, analysis believes, and after a trip to near $40,000, conditions are improving. In a post on X (formerly Twitter) on Dec. 13, Philip Swift, creator of statistics resource Look Into Bitcoin, showed profit-taking surging as BTC/USD…

Bitcoin ETF applicants will have to ‘bend the knee’ on cash redemption model

boss

As spot Bitcoin exchange-traded fund (ETF) issuers iron out details of their filings with the U.S. securities regulator, it appears that the SEC is steadfast in demanding a “cash” redemption model rather than alternative model proposed by other issuers, such as BlackRock. On Dec. 14 finance lawyer Scott Johnsson said that ETF applicant Invesco has become the latest to bend the knee to using a cash creation and redemption model for its ETF.  I think everyone is gonna have to bend the knee to cash creates and redeems. https://t.co/1z9HknHyAG —…

ECB assesses environmental footprint of cash, sees room for improvement

boss

The European Central Bank (ECB) has taken a look at the environmental impact of using banknotes and discovered 16 environmental impact categories. As with cryptocurrency, energy efficiency was a major issue. Banknotes continue to be the most common form of payment at points of sale in the eurozone. The use of cash requires an elaborate physical infrastructure for its production, distribution and eventual retirement. Some of the initial components of banknote production that have an environmental impact. Source: ECB  Energy use by ATMs was the biggest contributor to banknotes’ environmental…

Bitcoin Falls Below $42,000 As Short Term Holders Rush To Cash In

boss

Bitcoin is currently witnessing a decline in price, with its value dropping below the $42,000 mark. This movement comes on the heels of a significant uptick in the circulating supply of profitable Bitcoin, prompting a wave of profit-taking among investors. ETC Group’s Head of Research, André Dragosch, highlights this trend, noting an increase in Bitcoin being moved to exchanges for potential sale. Dragosch noted, citing data from Glassnode: Overall exchange balances for bitcoin have clearly picked up, implying a net inflow of coins to exchanges over the past week. More…

GameStop CEO Buying New Stocks from Company’s Cash Balance, GME Stock Up 10%

GameStop gives CEO complete control to buy stocks from the company’s cash books, however, analysts have given a major red flag on this. Gaming retailer GameStop Corp (NYSE: GME) is taking a shift in its approach while allowing its CEO and chair Ryan Cohen to gain even more control in these struggling times. This includes the ability to use the company’s cash to buy new stocks. In its quarterly report unveiled on Wednesday evening, GameStop disclosed two modifications to its corporate investment strategy. First is that it allows the use…

KyberSwap hacker moves $338k into Tornado Cash

The KyberSwap hacker is moving funds into Tornado Cash, according to data from CertiK.  The KyberSwap hack saw the defi market maker lose $48.8 million in November. Earlier last week, the hacker sent $338,000 worth of BNB tokens to an externally owned account on the Polygon network. Today, those funds have been moved to decentralized cryptocurrency tumbler Tornado Cash.  The KyberSwap hack has been one of the most surprising exploits of the year, not because of the amount of funds compromised, but rather because of the unusual demands of the…

SEC likely to prioritize ‘cash create’ spot Bitcoin ETFs

boss

A Senior Bloomberg ETF analyst speculated that the Securities and Exchange Commission favors a particular redemption model and that could be a factor for which applications get approved. The U.S. Securities and Exchange Commission (SEC) may choose to first approve spot Bitcoin ETFs with a cash create redemption structure, according to ETF expert Eric Balchunas who said that such a decision remained unconfirmed by America’s securities regulator. Cash create differs from the alternative “in-kind” option since it requires issuers to hold the dollar equivalent of every Bitcoin (BTC) offered in…

Bitcoin Cash Price Pumps Over 10% But $255 Is The Key To More Gains

boss

Bitcoin Cash price rallied over 10% and broke the $245 resistance. BCH is now facing strong resistance near the $255 zone. Bitcoin cash price started a fresh surge above the $232 resistance. The price is trading above $245 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $225 on the 4-hour chart of the BCH/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $255 resistance zone. Bitcoin Cash Price Rallies…