Tag: ETF

Standard Chartered foresees Ethereum ETF approval by May 23

Geoffrey Kendrick of Standard Chartered Bank predicts the SEC’s approval of U.S. Ethereum ETFs by May 23. Starting with initial rejections before granting approval, Standard Chartered foresees parallels for the Ethereum ETF with the SEC’s approach to Bitcoin ETFs. Geoffrey Kendrick, who leads the bank’s forex and digital assets research, believes Ethereum ETFs in the U.S. will get the green light in late May. Kendrick compares this situation to what happened with Bitcoin ETFs and thinks Ethereum’s price (ETH) may reach $4,000 by that date due to hype. Kendrick’s confidence…

Hong Kong Regulator Receives First Application for Bitcoin Exchange-Traded Fund (ETF): Report

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A multinational asset management giant has reportedly submitted the first application for a spot Bitcoin (BTC) exchange-traded fund (ETF) in Hong Kong. Harvest Fund Management applied to the Securities and Futures Commission (SFC) of Hong Kong, according to a recent report from the Chinese media outlet Tencent News. Tencent also reports that the regulator hopes to speed up the approval process and have the ETF listed on the Hong Kong Stock Exchange in the next couple of months. The SFC published spot crypto ETF requirements in December. According to the…

Invesco Galaxy reduced spot Bitcoin ETF commission amid competition pressure

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Invesco and Galaxy Digital have announced fee reductions for their spot Bitcoin (BTC) ETF (BTCO). According to filings with the U.S. Securities and Exchange Commission, the fee is reduced by 14 basis points, from 0.39% to 0.25%. Invesco and Galaxy Digital note that their product exempts clients from commissions for the first six months on assets of up to $5 billion. At the same time, the companies retain the right to extend preferential conditions for investors. The updated rate will improve the position of the Invesco and Galaxy Digital cryptocurrency…

Bitcoin ETF Application In Hong Kong Filed By Banking Giant

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Following the recent approval of spot Bitcoin ETF (Exchange-Traded Funds) in the US and guidelines from Hong Kong’s Securities and Futures Commission (SFC) published in December of 2023, there has been increasing speculation about the launch of a spot Bitcoin ETF in Hong Kong this year. In a recent development, the first spot Bitcoin ETF application has been filed to the SFC for approval. Chinese Financial Giant Takes The Lead Earlier this month, Venture Smart Financial Holdings Ltd. (VSFG) expressed its plans to apply for a spot Bitcoin ETF with…

Invesco Cuts Bitcoin (BTC) ETF Fee In a Bid to Lure Investors

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Google ends five-year ban on crypto ads, as Bitcoin ETF ads pop up

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BlackRock and VanEck have started advertising campaigns for its spot Bitcoin ETFs on Google, as its previously announced ad policy update took place today.  For the first time in five years, Google has opened its extensive advertising network to specific crypto-related offerings, notably the newly introduced spot Bitcoin ETFs. This marks a notable change from the company’s stance in March 2018, when it, alongside Facebook, banned cryptocurrency-related advertisements. The ban was widely interpreted as a precaution against the increasing number of scams associated with the crypto sector. Bitcoin ETF ads…

Bitcoin back at $43k, BlackRock’s BTC ETF volume closes in on GBTC

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Nearly three weeks after the SEC approved spot BTC ETFs, an expert says BlackRock’s fund may outpace Grayscale in trades. Bitcoin (BTC) retook the $43,000 mark and grew over 2% in a single day shortly after trading hours opened in the U.S. on Jan. 29. BTC’s trading volume also surged nearly 20% in 24 hours as crypto’s largest token aimed to erase losses suffered following a 10% drop on Jan. 22 when Bitcoin fell under $40,000. Bitcoin price | Source: CoinMarketCap At the time, the sharp decline was attributed to…

Grayscale Bitcoin ETF (GBTC) Outflow Slows After $5B Bleed: CoinShares

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GBTC, the largest and longest-running bitcoin fund recently converted into an ETF from a closed-end structure, endured $2.2 billion of net outflows through last week, while newly-opened U.S. bitcoin ETFs saw just $1.8 billion in net inflows, according to the report. Adding net outflows from global vehicles, crypto-focused funds endured a net $500 million in exits, according to CoinShares. Original

Large Chinese fund files for spot Bitcoin ETF in Hong Kong

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Harvest Fund Management’s Hong Kong branch has reportedly filed for a spot Bitcoin exchange-traded fund (ETF) with the Securities and Futures Commission. According to a Tencent News report, Harvest Fund Hong Kong has filed for a spot Bitcoin ETF with the Hong Kong Securities Regulatory Commission (SFC), as the local authorities have signaled their willingness to greenlight spot crypto ETFs. As of press time, Harvest Fund made no public statements on the matter. The report suggests that the SFC is leaning towards approving the ETF for listing on the Hong…