Blackrock has amassed nearly 110,000 bitcoins for its spot bitcoin exchange-traded fund (ETF), Ishares Bitcoin Trust (IBIT), since its launch about a month ago. The world’s largest asset manager’s bitcoin ETF has a total net inflow of nearly $5 billion, leading the pack among all spot bitcoin ETFs. Blackrock CEO Larry Fink has stated that […] Original
As of Thursday, Franklin Templeton, BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco and Galaxy, and Hashdex, had all submitted applications for an ether ETF. They already offer spot bitcoin (BTC) ETFs, which were introduced mid-January. Since then, the funds have accumulated $11 billion worth of BTC and helped propel the price of the largest cryptocurrency through $52,000. Source
He points out that outflows from ETFs – driven by Grayscale’s Bitcoin Trust (GBTC) – outpaced the inflows for the funds that Coinbase provides custodial services for, dragging down Coinbase’s ETF-related assets under management (AUM). In addition, spot volumes on the exchange have slowed after the initial excitement surrounding the ETF launch, Dolev said. Source BitcoincryptoexchangeExchanges CryptoX Portal
Global investment giant Franklin Templeton has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot market Ethereum (ETH) exchange-traded fund (ETF). The investment firm, which currently reports $1.6 trillion in assets under management (AUM), was one of 11 applicants who received approval from the SEC last month to launch a spot Bitcoin (BTC) ETF. If the product is approved, the Bank of New York Mellon will be the custodian of the fund’s cash holdings, according to Franklin Templeton’s filing, which was submitted on February 12th.…
The price of bitcoin soared past the $52K milestone on Wednesday, reaching $52,056 per unit on Bitstamp at 10:05 a.m. Eastern Time. Bitcoin’s meteoric rise over the past day triggered a wave of liquidated leveraged positions, wiping out $89.28 million in short positions. ‘Sustained High Levels of Illiquid Supply’ Bolster Bitcoin’s Price After the U.S. […] Original
Excluding Grayscale’s Bitcoin Trust, the bitcoin exchange-traded funds have accumulated over $11 billion worth of BTC a month after going live. Original
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…
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 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,…
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