Tag: ETF

SEC delays Grayscale spot Ethereum ETF to May

The U.S. Securities and Exchange Commission (SEC) has again delayed issuing a decision on Grayscale’s application to launch a spot Ethereum (ETH) ETF. According to a message on the regulator’s website, the Commission requested public comments on how the regulator should handle Grayscale’s application. The SEC is interested in whether the ETH algorithm – Proof-of-Stake (PoS) and the concentration of a large volume of Ethereum in the hands of several individuals could make the fund vulnerable to fraud and manipulation. The next application deadline is in May. The company first…

JPMorgan reports GBTC sell declining, highlights ETF record outflows

Analysts at JPMorgan have indicated a potential easing in the selling pressure on Bitcoin, as the bulk of profit-taking from the Grayscale Bitcoin Trust (GBTC) appears to be concluding. In a market report released on Jan. 25, a team led by Nikolaos Panigirtzoglou, JPMorgan’s market strategy managing director,”GBTC profit taking has largely happened already.” The assessment suggests that the primary factors influencing Bitcoin’s price fluctuations, specifically those linked to GBTC, might be diminishing. Grayscale’s fund has been trading below its net asset value since early 2021. Analysts attribute the $4.3…

ARK Bought $62.3M Worth of Own ARK 21Shares Bitcoin ETF (ARKB) in Last Week; Sold $42.7M of ProShares Bitcoin Strategy (BITO)

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Asian asset managers agree on Hong Kong spot Bitcoin ETF

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Spot Bitcoin ETF fever spread outside the U.S., with Hong Kong regulators open to the product and local firms racing to become the first movers on the scene.  Value Partners Group and Venture Smart Financial Holdings (VSFG), two Hong Kong-based assets managers, reached a memorandum of understanding to collaborate on offering traditional investment vehicles underpinned by digital assets to local retail and institutional investors. Top of the list for both firms is the possible introduction of ETFs that track spot Bitcoin (BTC) ETFs, per a statement shared with crypto.news.  Value…

SEC delays decision on BlackRock’s Ethereum spot ETF launch

The Securities and Exchange Commission (SEC) has delayed its decision on BlackRock’s application to launch a spot Ethereum (ETH) ETF to March. According to a document on the SEC website, a new decision on the application, which was supposed to be made on Jan. 25, is now expected on March 10, 2024. SEC representatives explained their decision due to the lack of time to review all the application details. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so…

Bitwise first to publish on-chain addresses for Bitcoin ETF holdings

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The Bitwise Bitcoin ETF (BITB) has published the on-chain addresses of its holdings – the first issuer to do so among the 11 approved funds. This major decision enables public verification of BITB’s holdings and flows directly on the blockchain. The move by Bitwise aligns with the core ethos of Bitcoin (BTC), which emphasizes transparency and open verification. Bitwise also expressed its ambition to expand these efforts. Collaborations with firms like Hoseki are on the horizon, aiming to provide real-time cryptographic attestations. Announcement: Today the Bitwise Bitcoin ETF (BITB) becomes…

Alameda gap is still haunting Bitcoin despite ETF approval 

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Despite spot Bitcoin ETFs generating over $20 billion in trading volume, the crypto market faces ongoing challenges with liquidity.  The market’s liquidity, as measured by Bitcoin’s market depth, indicates that the ease and speed of executing transactions in the digital currency remain suboptimal. The current Bitcoin (BTC) depth chart indicates that there is a considerable amount of orders placed both for buying (bids) and selling (asks) Bitcoin, yet the liquidity—referring to the ability to execute large orders without impacting the price significantly—is limited around the current price level. So, the…

BlackRock and Fidelity lead billion-dollar spot Bitcoin ETF race

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The SEC approved a handful of spot Bitcoin ETFs, but funds from two particular issuers are heads and shoulders above the lot while Grayscale’s GBTC bleeds outflows. Inflows of $1.9 billion and $1.6 billion confirmed spot Bitcoin (BTC) ETFs from BlackRock and Fidelity, respectively. They are the dominant issuers from a basket of 10 asset managers approved to list products by the U.S. Securities and Exchange Commission (SEC). Crypto native firm Bitwise and Cathie Wood-backed ARK 21Shares followed leagues behind the two frontrunners; both recorded inflows of over $500 million. …

GBTC’s Bitcoin (BTC) Sales Top 100K Since ETF Launch

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Grayscale’s Bitcoin Trust (GBTC) moved more than 19,000 bitcoin (BTC) from its publicly known wallet Wednesday morning. Since the spot bitcoin ETFs opened for business on Jan. 11, Grayscale has now moved nearly 113,000 bitcoin from its wallet, the overwhelming majority of which was to Coinbase Prime in preparation for sale, according to data compiled from Arkham. Original