Bitcoin ETF Application Based on 5% of Reported Trading

Bitwise Asset Management, a San Francisco crypto investment firm, has applied to the SEC for a Bitcoin ETF. In preparation for their application, they conducted a study of 80 exchanges, mostly unregulated. Their findings are worse than most: they found that almost 95% of all unregulated exchanges report fake volume. As such, their ETF will be based only on the 5% that is legitimate. Bitwise’s findings are worse than most reports to date. Earlier this week, we reported on findings by the TIE, which found that around 75% of all…

Most Respondents File Negative Comments for SEC’s Review of VanEck/SolidX Bitcoin ETF

Multiple respondents have filed comments with the United States Securities and Exchange Commission (SEC) on the latest proposed rule change for the VanEck/SolidX Bitcoin (BTC) exchange-traded fund (ETF). Comments to date were submitted between Feb. 13 and March 12. As reported, CBOE’s BZX Equity Exchange — the exchange that would prospectively list the Bitcoin ETF — had temporarily withdrawn its application for a rule change on the ETF in January, citing the negative impact of the U.S. government shutdown on the SEC’s operations. CBOE then resubmitted the application for the…

Most Respondents File Negative Comments for SEC’s Review of VanEck/SolidX Bitcoin ETF

Multiple respondents have filed comments with the United States Securities and Exchange Commission (SEC) on the latest proposed rule change for the VanEck/SolidX Bitcoin (BTC) exchange-traded fund (ETF). Comments to date were submitted between Feb. 13 and March 12. As reported, CBOE’s BZX Equity Exchange — the exchange that would prospectively list the Bitcoin ETF — had temporarily withdrawn its application for a rule change on the ETF in January, citing the negative impact of the U.S. government shutdown on the SEC’s operations. CBOE then resubmitted the application for the…

VanEck’s Bitcoin (BTC) ETF Receives Scathing Comments, What’s The Deal?

Bitcoin Has No “Intrinsic Value”: American Investors Weigh In Since a Bitcoin exchange-traded fund (ETF) was proposed in the U.S. markets, pundits have lauded it as the single thing that could bring the cryptocurrency market from “immature” to “mature.” Others have also touted such a vehicle as the rocketship that would bring BTC to the moon, so to speak. Yet, members of the non-crypto public aren’t too sold on the entire idea. Per a list of comments posted on the U.S. Securities and Exchange Commission’s (SEC) webpage, specifically in regards…

VanEck’s Bitcoin (BTC) ETF Receives Scathing Comments, What’s The Deal?

Bitcoin Has No “Intrinsic Value”: American Investors Weigh In Since a Bitcoin exchange-traded fund (ETF) was proposed in the U.S. markets, pundits have lauded it as the single thing that could bring the cryptocurrency market from “immature” to “mature.” Others have also touted such a vehicle as the rocketship that would bring BTC to the moon, so to speak. Yet, members of the non-crypto public aren’t too sold on the entire idea. Per a list of comments posted on the U.S. Securities and Exchange Commission’s (SEC) webpage, specifically in regards…

SEC Chairman Highlights Investor Protection in Regard to Bitcoin ETF

United States Securities and Exchanges Commission (SEC) Chairman Jay Clayton is still concerned about investor protection when it comes to the commission approving a Bitcoin (BTC) Exchange-Traded Fund (ETF). The SEC chairman spoke about crypto in an interview with FOX Business on March 14. In the interview, Clayton claimed to be neutral toward digital currencies, saying that he is not a spokesperson against the asset. The SEC chairman explained that he is concerned with the potential for manipulation associated with the space, and wants to guarantee investor protection: “What I’m…

The SEC Could Approve the First Bitcoin ETF in 2019

For a long time now, mutual funds have dominated the cryptocurrency trading market by offering investors professional management, daily liquidity, broad diversification, and relatively low cost. Exchange Traded Funds (ETFs) enhance these benefits even further, and this is one of the main reasons why they are on the rise now more than ever. Most intellectual financial experts agree that the pros of ETFs certainly overshadow the cons by a huge margin. What are ETFs Exactly? In simple terms, an ETF is a basket of securities you can trade through a…

New Blockchain ETF Co-Operator Elwood Plans Fresh Crypto Investment Options

United Kingdom-based asset management company Elwood Asset Management is looking to increase its cryptocurrency offerings after co-launching a blockchain exchange-traded fund (ETF), Bloomberg reported on March 12. Elwood, which is owned by billionaire Brevan Howard creator Alan Howard, partnered with Invesco to bring a blockchain ETF to market this week. Now, the company told reporters that it is already eyeing what else it could offer institutional investors eager to gain exposure to the cryptocurrency arena. “The only way for institutions to get meaningful exposure to digital assets has been to…

Pro-Bitcoin Square Headlines London Stock Exchange’s Blockchain ETF

Invesco, an American firm, and Elwood, a British digital asset investment company, announced the launch of a blockchain ETF on the London Stock Exchange today. The exchange-traded fund features 48 companies with ties to the blockchain industry, including some – like Square – that have dabbled directly in the bitcoin or crypto space. Invesco & Elwood Team up for UK Blockchain ETF The London Stock Exchange just listed a blockchain ETF, providing investors with broad exposure to companies that are active in the crypto space, including Square and Overstock. |…

Pro-Bitcoin Square Headlines London Stock Exchange’s Blockchain ETF

Invesco, an American firm, and Elwood, a British digital asset investment company, announced the launch of a blockchain ETF on the London Stock Exchange today. The exchange-traded fund features 48 companies with ties to the blockchain industry, including some – like Square – that have dabbled directly in the bitcoin or crypto space. Invesco & Elwood Team up for UK Blockchain ETF The London Stock Exchange just listed a blockchain ETF, providing investors with broad exposure to companies that are active in the crypto space, including Square and Overstock. |…