Tag: ETF

SEC likely to restrict ETF approvals to Bitcoin and Ethereum, says Cathie Wood

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Cathie Wood, CEO and CIO of Ark Invest, recently expressed her views on the likelihood of the U.S. Securities and Exchange Commission (SEC) approving exchange-traded funds (ETFs) for cryptocurrencies beyond Bitcoin and Ethereum. During an appearance on the Wall Street Journal’s “Take On the Week” podcast, Wood mentioned, “We’d be surprised to see anything but bitcoin and ether being approved by the [SEC].” This statement reflects a cautious outlook on the regulatory acceptance of cryptocurrency ETFs in the United States. Wood’s comments underline the ongoing debate around the classification of…

SEC chair Gensler addresses security breach and misleading Bitcoin ETF announcement on X

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Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), has addressed inquiries from legislators concerning a security incident involving the SEC’s account on X. On Jan. 9, an unauthorized individual executed a SIM swap attack on the SEC’s account on X and falsely announced that the SEC had sanctioned several spot Bitcoin ETFs. Despite the initial message being fake, the SEC did indeed authorize those funds on Jan. 10. The incident triggered a swift response from Gensler, who reassured lawmakers of the SEC’s commitment to cybersecurity. In…

Franklin Templeton enters competition to introduce spot Ether ETF

Franklin Templeton has recently filed for a spot ether ETF, joining the competitive landscape of companies aiming to bridge traditional finance with digital assets. According to their filing, the proposed ETF aims to provide investors with a convenient alternative to directly acquiring, holding, and trading Ethereum. This move comes after the Securities and Exchange Commission (SEC) approved issuers for Bitcoin ETFs earlier in January, with Franklin being among the nearly a dozen firms to launch such a product. The firm expressed interest in staking the ether held by the fund,…

TradFi Asset Manager Franklin Templeton Joins Ethereum ETF Race

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Bitcoin ETF purchases exceed daily production by 12.5 times

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Wall Street is acquiring Bitcoin at a rate 12.5 times greater than its daily production, moving towards a new all-time high, according to Anthony Pompliano. Anthony Pompliano recently emphasized on CNBC’s Squawk Box the significant interest Wall Street has in Bitcoin (BTC), stating, “Wall Street LOVES bitcoin. They are buying up 12.5x more bitcoin per day than the network can produce.” Pompliano’s comments highlight the strong institutional demand for Bitcoin, particularly as the cryptocurrency approaches its halving in mid-April, when the rate at which new Bitcoins are created will be…

Bitcoin Tops $49K as Spot ETF Inflows Accelerate

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Report: Crypto Ads Sideline in Super Bowl LVIII Despite Recent Bitcoin ETF Launches

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Following a wave of cryptocurrency ads securing airtime for promotions during the 2022 Super Bowl, the subsequent year witnessed an absence of crypto entities airing commercials in the event. The trend is set to continue into 2024, as highlighted by a recent analysis on the subject. Although several firms launched commercials for exchange-traded funds (ETFs), […] Original

Valkyrie exec predicts fewer Bitcoin ETF issuers by year-end

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Spot Bitcoin exchange-traded funds (ETFs) are nearing their first month of operation, with the landscape potentially set for consolidation by the end of 2024, according to Valkyrie Funds’ Chief Investment Officer, Steven McClurg. In an exclusive interview with Decrypt on Feb. 10, McClurg said he anticipates a reduction in the number of issuers from 10 to “about seven or eight.” He attributes this forecast to the financial burdens associated with running a spot Bitcoin ETF, compounded by a competitive fee-lowering trend that threatens the profitability of struggling issuers. McClurg emphasized…

Bitcoin (BTC) Price Hovers Over $46K as Year of ‘Long’ Begins, Easing ETF Selloff

“Bitcoin rose above its 50-day moving average late Wednesday, confirming the bullish medium-term trend and easing fears of a deeper correction,” said Alex Kuptsikevich, FxPro senior market analyst, in an email to CoinDesk. “On a weekly basis, bitcoin and the broader crypto market have gained strength after a long period of consolidation and are now poised to make new highs.” Source