Tag: ETF

The early winner in the bitcoin ETF race has raked in $1 billion

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An old-school asset management giant is flexing its muscle in the race to establish a foothold in bitcoin exchange-traded funds with a stellar first week. As Bernstein analyst Gautam Chhugani highlighted in a note to clients Thursday, BlackRock’s iShares Bitcoin Trust (IBIT) has been an early winner among the spot bitcoin ETFs that were approved last week. The fund has amassed $1 billion in net inflows, and while trading volume has cooled somewhat after a massive first day, the fund already has cumulative volume of more than $2 billion. “We…

Roundhill launches YBTC Bitcoin ETF with OTM strategy

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Roundhill Covered Call Strategy, one of the most popular investment strategies in the ETF industry, is launching its own Bitcoin ETF. Roundhill Investments is the latest firm to launch a Bitcoin ETF designated by the ticker YBTC. The ETF has started trading today at the Chicago Board Options Exchange (CBOE). YBTC is an actively managed fund that aims to mirror the dynamics of Bitcoin, primarily through its investment in the ProShares Bitcoin Strategy ETF (BITO).  One of the key strategies employed by YBTC is the selling of out-of-the-money (OTM) call…

BlackRock reports diverse investor interest in its spot Bitcoin ETF

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BlackRock reveals that its Bitcoin ETF draws a wide range of investors, reflecting growing interest across different investor profiles in the crypto market. In a recent interview with Bloomberg TV, Rachel Aguirre, Head of U.S. iShares Product at BlackRock, discussed the burgeoning interest in the company’s new spot Bitcoin ETF, IBIT. In response to inquiries about whether an investment in IBIT was being redirected from Grayscale’s GBTC product, Aguirre noted that the firm “observed engagement from various investors, including both retail and self-directed types.” She mentioned that some “investors had…

Flowdesk, Liquidity Provider for Grayscale Bitcoin ETF, Raises $50M

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Trillion-Dollar Franklin Templeton Shares High Praise For Solana, Is A SOL ETF Coming?

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American multinational asset management company Franklin Templeton has showered high praises on Solana, triggering widespread speculation about the potential of a Solana ETF in the future.  Franklin Templeton’s Approval Of Solana Sparks ETF Talks On Wednesday, January 17, Franklin Templeton’s official X account expressed their admiration for the Solana, commending the blockchain network’s progress and continuous developments within its ecosystem.  The asset management company highlighted Solana’s notable accomplishments during the fourth quarter of 2023. Specific mentions were made regarding Solana’s innovative NFT projects over the past months, its impactful presence…

ARK Investment shifts $16m from ProShares to own Bitcoin ETF

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ARK Investment Management, led by Cathie Wood, divested from the ProShares Bitcoin ETF, reallocating approximately $16 million towards its own Bitcoin ETF.  This move involved the sale of ProShares Bitcoin ETF (BITO) shares, a pioneering ETF in the Bitcoin futures market in the U.S., and the acquisition of 365,427 shares of ARK 21 Shares Bitcoin ETF (ARKB).  This adjustment resulted in ARKB accounting for 1% of the ARK Next Generation Internet ETF (ARKW). The value of ARKB shares declined to $43.51 on Tuesday, a significant drop from the initial listing…

Grayscale moved $1.3b Bitcoin to Coinbase since ETF approval

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Following the approval of spot Bitcoin ETFs, Grayscale has transferred some 31,638 BTC within its dedicated Coinbase accounts. According to Arkham Intelligence, the GBTC issuer moved a total of $1.3 billion in Bitcoin (BTC) since the U.S. Securities and Exchange Commission (SEC) approved 11 spot BTC exchange-traded funds (ETFs) on Jan. 10. The data available revealed transactions over three days, including Jan. 12, Jan. 16, and Jan 17. These deposits into Coinbase Prime wallets from Coinbase custody accounts all happened during the opening trading hours of the U.S. stock market.…

VanEck to liquidate Bitcoin futures ETF

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In a significant move impacting cryptocurrency investment vehicles, VanEck announced on Wednesday its decision to liquidate the VanEck Bitcoin Strategy ETF. The decision announced in a Jan. 16 press release, was influenced by a comprehensive analysis of the fund’s performance, liquidity, assets under management, and investor interest, marks a notable shift in the ETF landscape. According to VanEck, shareholders holding positions in the VanEck Bitcoin Strategy ETF (XBTF) have until the market close on Jan. 30 to sell shares. The ETF, which has recently experienced a 1.4% decline, will be…

A Pivotal Year for Bitcoin with SEC’s ETF Approval and Halving Event Reshaping Digital Asset Dynamics

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On the demand side, the SEC’s potential approval of a spot bitcoin ETF should open the door for a significant number of new investors seeking exposure to the price of bitcoin directly in their traditional investment accounts. They can now forego the complexity of dealing with crypto exchanges, and access a familiar investment vehicle — an ETF. This will spark both higher liquidity and greater price stability in bitcoin. Equally importantly, the SEC’s approval represents a significant milestone for bitcoin’s growing legitimacy with established financial institutions. Original