Tag: ETF

Ethereum HODLers Scoop 298,000 ETH In 24 Ahead Of Spot ETF Trading

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Ethereum is under pressure at press time, tumbling roughly 15% from March 2024. As sellers press on, reversing all gains posted from May 20, on-chain data points to a bullish picture. Ethereum HODLers Scoop 298,000 ETH In 24 Hours Taking to X, one analyst notes a spike in ETH demand, especially from permanent holders. Most likely, these permanent holders are institutions with deeper pockets and are willing to hang on. Unlike retailers, these entities can often choose to hold for longer and won’t be shaken out by market volatility. Ethereum…

Global ETF market could hit $35 trillion by 2035

The global Exchange-Traded Fund (ETF) market could witness some remarkable growth over the next decade. Assets in the global ETF are projected to reach $35 trillion by 2035, tripling from their current $13 trillion. This prediction comes from Eric Balchunas, Senior ETF Analyst for Binance. “[ETFs] low-costs, intra-day liq, tax efficiency, flexibility etc. will continue to attract investor cash (and traders’ volume) which will result in more new products, innovative designs and more salespeople,” Balchunas posted on X. This forecast is based on a conservative 10% compound annual growth rate…

Why Is Bitcoin Stagnant Despite ETF Inflows? Report Answers

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Glassnode has discussed in a new report the reasons behind Bitcoin moving sideways despite inflows into the spot exchange-traded funds (ETFs). Why Bitcoin Has Been Stagnant Despite Spot ETF Inflows In its latest weekly report, the analytics firm Glassnode has talked about how the impressive inflows into the US spot ETFs have failed to make the price break its sideways trend. The spot ETFs, which the US Securities and Exchange Commission (SEC) approved in January of this year, have provided investors with an alternate means of gaining exposure to the…

Bitcoin Stabilizes Amid Further ETF Outflows

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Bitcoin ETFs recorded a second straight day of outflows on Tuesday, with $200 million exiting the 11 spot products in the U.S., the highest since May 1. Grayscale’s GBTC, as it often is, was the worst affected, with outflows of $120 million. ARK 21Shares’ ARKB, Bitwise’s BITB and VanEck’s HODL’s outflows ranged from $57 million to $7 million. “Markets are [in] risk-off mode ahead of CPI and FOMC tomorrow. This month’s FOMC will also release the Dot Plot, which informs the market how many cuts the Fed anticipates for the…

Ripple CEO Expects SEC to Approve Spot XRP ETF Next Year

Ripple CEO Brad Garlinghouse believes that the U.S. Securities and Exchange Commission (SEC) will approve spot XRP ETFs next year, reiterating that they are inevitable. The executive discussed cryptocurrency regulations in the U.S., highlighting the SEC’s shift towards pragmatism after losing court battles. XRP ETFs Likely Approved Next Year, Ripple’s CEO Says Ripple CEO Brad […] Source CryptoX Portal

VanEck sets $22K price target for Ethereum by 2030 amid anticipated ETF approval

VanEck has set a new price target for Ether (ETH), the native token of the Ethereum protocol, predicting it will reach $22,000 by 2030. The forecast represents a massive rise from its current price of around $3,850. The global investment firm had earlier anticipated that Ether ETFs could surpass their Bitcoin counterparts in market size. In its latest June 5 report, VanEck attributed this optimistic forecast to Ethereum’s disruptive capabilities and the cashflow it generates for token holders. VanEck’s comprehensive analysis highlights Ethereum’s impact across multiple sectors, including finance, banking,…

ProShares seeks SEC nod for spot Ethereum ETF listing on NYSE

ProShares, a prominent issuer of exchange-traded funds (ETFs), has filed a proposal to list and trade spot Ethereum (ETH) ETF shares on the New York Stock Exchange (NYSE). According to the filing with the United States Securities Exchange Commission (SEC), the ProShares Ethereum ETF will use Coinbase Custody Trust Company for ETH custody. The asset manager noted that the firm and its associated parties will not engage in activities related to Ethereum staking. Crypto.news reported that potential spot Ethereum ETF issuers have revised their 19b-4 and S-1 filings to exclude…

Cathie Wood’s Ark Pulls Back From Ethereum (ETH) ETF, Likely Due to Fee War

Seyffart also believes that Ark made the decision based on the low fees. “It’s possible that the partnership made a ton of sense, particularly with the demand for bitcoin ETFs,” he said. “But after the fees got so low right off the bat, there might simply not have been enough money from fees to go around for both firms, particularly on an Ethereum ETF if they are expecting less demand versus bitcoin ETFs.” Source