BlackRock’s iShares Bitcoin Trust ETF (IBIT), by far the most successful of the 10 spot bitcoin exchange-traded funds, started trading on the Brazilian stock exchange B3, the company said. The asset manager announced the expansion on Thursday. Original
Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), single-handedly offset Grayscale’s bitcoin ETF outflow of $600 million on Thursday. Blackrock’s bitcoin ETF has broken both its trading volume and inflow records this week. The fund’s crypto holdings have risen to 161K bitcoins. Blackrock Continues to See Massive Inflows Blackrock’s spot bitcoin exchange-traded […] Original
Bitwise anticipates a surge in institutional investment into Bitcoin ETFs in the coming months as major financial institutions, known as “wirehouses,” start offering Bitcoin ETF trades to their clients. Matt Hougan, Bitwise’s Chief Investment Officer, shared a number of insights during a CNBC interview on Feb. 29, stating that the initial interest in Bitcoin ETFs has primarily come from retail investors, hedge funds, and independent financial advisors. Hougan projected that this trend would soon extend to institutional investors, marking a pivotal moment for Bitcoin that he likened to an “IPO…
Gold advocate and vocal bitcoin critic Peter Schiff has warned of a bubble in bitcoin exchange-traded funds (ETFs) that will burst when gold rallies. Schiff argues that gold will “inevitably” break out, and the price of bitcoin will crash as investors withdraw from bitcoin ETFs. “Bitcoin has basically become a bet against gold,” he stressed. […] Original
South Korea has delayed its efforts to relax its crypto regulations and the prohibition on spot bitcoin exchange-traded funds (ETFs). This development follows closely behind the People Power Party’s contemplation of removing certain regulations and the ETF ban before the commencement of South Korea’s general election. South Korea Holds Back on Crypto Regulation and Reported […] Source CryptoX Portal
Grayscale renewed pressure on the SEC to greenlight options on spot Bitcoin ETF as the investment manager seeks new rails to onboard capital into its crypto fund. Grayscale CEO Michael Sonnenshein said approving options for spot Bitcoin (BTC) ETFs would benefit all GBTC investors and participants in other spot BTC-backed products looking to generate income and hedge financial positions. Sonnenshein previously advocated for the speedy acceptance of spot BTC ETF options as an additional tool for market regulations, as it would bring more stakeholders like broker-dealers into the fold. Options…
As of 1:30 p.m. Eastern time (18:30 UTC), almost 36 million IBIT shares worth over $1.2 billion changed hands with two hours left of the trading session, per Barchart. Grayscale’s GBTC and Fidelity’s FBTC are also having a strong day, trading over $880 million and $660 million, respectively, so far. Source
The ten spot bitcoin ETFs have arguably had one of the most successful launches in history with trading volume and inflows reaching new highs this week, but Bitwise Chief Investment Officer Matt Hougan expects even more demand is on the way. Original
BlackRock unveiled its partnership with Brazil’s B3 stock exchange to launch the iShares Bitcoin Trust ETF’s Brazilian Depositary Receipts on Thursday. The impending launch marks BlackRock’s first foray into the Brazilian cryptocurrency ETF market, with trading set to commence for qualified investors on Friday. The ETF, initially introduced in the United States in January, will soon be accessible to retail investors in Brazil. The Bitcoin ETF, trading under the code IBIT39, aims to replicate BTC‘s performance and introduces a management fee of 0.25%, temporarily reduced to 0.12% for the first…
South Korea’s People Power Party has decided to delay its intentions to relax cryptocurrency regulations indefinitely. This shift includes halting the initiative to lift the prohibition on domestic spot Bitcoin exchange-traded funds (ETFs), a move initially anticipated by market watchers. The decision, as reported by local media, stems from the challenges in achieving consensus with governmental and financial bodies on the framework for cryptocurrency policies. The party had been evaluating proposals to postpone the taxation on virtual assets for an additional two years and to enable corporate investments in digital…