Tag: ETF

Spot Bitcoin ETF approval changes nothing, analysts at ECB insist

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European Central Bank analysts refute Bitcoin’s value despite the recent spot ETF approval, citing its unsuitability for payment and investment, and advocate for stricter regulations. The recent approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) changed nothing as the crypto’s fair value “is still zero,” Ulrich Bindseil, director general of market infrastructure & payments, and Jürgen Schaaf, adviser in market infrastructure & payments at the European Central Bank, said in a recent blog post. Refuting Bitcoin’s claims of being a global decentralized digital…

Ripple CEO backs XRP ETF, calls for clearer crypto regulation

Ripple CEO Brad Garlinghouse, in a Bloomberg interview on Feb. 20, expressed support for the creation of an XRP exchange-traded fund (ETF).  Garlinghouse highlighted the importance of diversification for investors, comparing the current state of the cryptocurrency market to the early days of the stock market. He suggested that, like in the stock market, where investors seek exposure to a range of assets rather than a single stock, the cryptocurrency market will likely see the introduction of more ETFs to distribute risk more broadly.  However, he refrained from providing specifics…

Beyond Bitcoin: Ripple CEO Says Approval of Multiple Crypto ETFs ‘Inevitable’ — Embraces Idea of Spot XRP ETF

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Ripple CEO Brad Garlinghouse believes that the U.S. Securities and Exchange Commission (SEC) will approve spot exchange-traded funds (ETFs) based on crypto tokens other than bitcoin. “I think it’s inevitable that there’ll be multiple ETFs around different tokens,” he stressed, noting that Ripple would welcome an XRP ETF. “In my opinion, it makes these markets […] Original

XRP ETF launch: rumors or reality?

How does the approval of the first BTC spot ETF shed light on the challenges facing an XRP ETF? Amid the prevailing bullish sentiment in the market, a significant development has ignited anticipation and debate: the possibility of a Ripple (XRP) exchange-traded fund (ETF) entering the fray. At the center of this discourse lies Ripple CEO Brad Garlinghouse’s recent interview with Bloomberg on Feb. 20.  During the interview, Garlinghouse conveyed cautious optimism regarding the prospect of an XRP ETF. While he expressed openness to the idea, he stopped short of…

Bitcoin ETF Approval Marks Milestone, but Is it Enough? Exploring Direct Ownership Benefits and the One-Way Bridge Dilemma

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Part of the reason bitcoin ETFs are so valuable is because they provide investors an opportunity to test the crypto waters in a way that’s familiar (ETFs for gold, for instance, have been available since the early 2000s). It opens the door to an entirely new generation of investors. It allows people to access one of the essential pieces of the crypto asset ecosystem: the price. By owning a fund that owns bitcoin, you gain indirect exposure to the potential price appreciation of bitcoin, and you offload the responsibilities of…

VanEck’s Bitcoin (BTC) ETF Volume Surges, Fairshake Raises Another $5M

Fairshake, a super political action committee (PAC) backing crypto-friendly candidates, has now received funding of a total of $4.9 million from billionaire twins Cameron and Tyler Winklevoss, Bloomberg reported, citing the latest federal filings. The twins, who are co-founders of crypto exchange Gemini and heavyweight bitcoin (BTC) investors, were initial investors in Fairshake, revealed in the first announcement on Dec. 18, 2023. They join a list of high-profile crypto investors backing the super PAC, including Andreessen Horowitz (a16z) and ARK Invest as well as crypto companies such as Circle, Ripple,…

VanEck’s Bitcoin ETF sees 1,000% daily volume spike in fee cut anticipation

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VanEck’s spot Bitcoin ETF jumped 14 times its daily average volume a day before the firm plans to implement a fee cut, reducing entry cost from 0.25% to 0.2%. According to Bloomberg’s Eric Balchunas, the VanEck Bitcoin Trust ETF (HODL) had over $258 million in trading volume on Feb. 20 from 32,000 individual traders. Balchunas noted that VanEck’s volume and traders were much higher than the average numbers of the firm’s new exchange-traded fund.  I’ve never seen a grassroots trading explosion come out of nowhere like this. Eric Balchunas on…

Pyth Network Unveils Real-Time Bitcoin ETF Price Feeds, Bridging Defi and Traditional Finance

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On Tuesday, Pyth Network announced the rollout of real-time price feeds for bitcoin exchange-traded funds (ETFs), enhancing the data’s availability to both decentralized finance (defi) developers and the wider crypto and traditional financial communities. These feeds encapsulate data from 13 bitcoin exchange-traded products (ETPs), offering valuable insights. Pyth Network Launches Real-Time Feeds for Bitcoin ETFs […] Original