Tag: ETF

FTX Sold About $1B of Grayscale’s Bitcoin ETF (GBTC): Sources

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Grayscale has offloaded $2.14b in BTC since ETF approval

Grayscale Investments has sold over $2.14 billion in BTC following the SEC’s approval of spot Bitcoin ETFs. According to a Jan. 22 post by crypto analytics platform Lookonchain, Grayscale’s Bitcoin holdings have diminished by about 52,227 BTC, equivalent to $2.14 billion, following the SEC’s recent approval of spot Bitcoin ETFs earlier this month. According to the #Grayscale website, #Grayscale currently holds 566,973 $BTC($23.21B), decreasing ~52,227 $BTC ($2.14B) since the ETF was passed. And iShares(Blackrock) holds 33,431 $BTC($1.37B), Fidelity holds 24,857 $BTC($1.02B), Bitwise holds 10,152 $BTC($415.6M). pic.twitter.com/fx2Kj3WpSB — Lookonchain (@lookonchain) January…

SEC postpones decision on Fidelity’s spot Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has delayed a decision on Fidelity’s application to launch spot Ethereum (ETH) ETFs. According to information on the regulator’s website dated Jan. 18, a decision on the application is now expected on March 5, 2024. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.” SEC filing Bloomberg analyst James Seyffart called the move “expected.” At the same…

Fidelity Bitcoin Spot ETF Records $1 Billion In Net Inflows

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Data from the trading analytics platform BitMEX Research reveals that Fidelity’s Bitcoin spot ETF – FBTC – has now witnessed a total inflow of over $1 billion. This development comes as BTC attempts to rebound from its recent dip over the last two weeks with a 1.56% gain in the past day, based on data from CoinMarketCap.   Fidelity Joins BlackRock On Exclusive $1-B List, As Grayscale’s ETF Continues To Bleed Following the official launch of Bitcoin spot ETF trading on January 11, Fidelity has now become the second asset manager,…

SEC acknowledges Nasdaq’s spot Bitcoin ETF options request

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Options trading for spot Bitcoin ETFs may be up after a Securities and Exchange Commission nod allowed multiple “non-security commodity” funds to list on U.S. exchanges. Nasdaq submitted 19b-4 filings with the SEC to amend listing rules allowing trading derivatives on ETFs underpinned by Bitcoin (BTC). Following the proposed rule changes, the SEC has acknowledged the requests, opening a 21-day window for public comments and feedback. ETF expert James Seyffart opined that the SEC could field a decision on these filings by the end of February; however the verdict may…

Fidelity’s spot Bitcoin ETF reaches $1b inflows

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Fidelity’s Wise Origin Bitcoin Fund became the second spot Bitcoin ETF to surpass $1 billion in inflows, achieving this feat just five days into trading. Following closely on the heels of BlackRock’s iShares Bitcoin Trust (IBIT), the first of the newly approved BTC ETFs to hit the $1 billion assets under management milestone on Jan. 17, Fidelity’s FBTC accumulated $874 million in inflows up to that point. Provisional data shared on Jan. 19 by BitMEX Research on their X page indicated that Fidelity’s total inflows reached over $1 billion on…

IntoTheBlock explains why Bitcoin’s price fell after ETF approval

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IntoTheBlock provides insights into the unexpected downturn in Bitcoin’s market, particularly following the approval of the Bitcoin ETF. Data shared in a Jan. 19 X post by blockchain analytics firm IntoTheBlock shows that Bitcoin (BTC) prices have decreased by approximately 10% in the past week, a trend that contradicts many market predictions. The firm’s analysis reveals several key factors contributing to this trend. There has been a significant increase in Bitcoin inflows into centralized exchanges for the past six weeks, with nearly $2 billion in net deposits since December. This…

Direxion submits five leveraged spot Bitcoin ETF applications

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Financial products provider Direxion has filed to register five Bitcoin (BTC) ETFs. Bloomberg analyst James Seyffart reported that on Jan. 18, Direxion filed to register five leveraged Bitcoin ETFs with the U.S. Securities and Exchange Commission (SEC). Direxion’s documents show plans to create Bitcoin funds with long leverage of 1x, 1.5x, and 2x, and one for each fund with short leverage. Leveraged ETFs are exchange-traded funds structured to mirror the daily returns of an underlying index. Bloomberg ETF analyst Eric Balchunas also noted in a commentary that leveraged Bitcoin ETFs could…

No More Than 50% Chance of Spot Ether ETF Approval By May, JPMorgan Says

Since the BTC ETF narrative gripped the market last year, traders have been looking at ether as the next likely candidate to get a spot ETF approval in the U.S. Reflecting this sentiment is the discount to net asset value (NAV) for the Grayscale Ethereum Trust (ETHE), which has been contracting since the summer, and has lingered around 12% over the last two months, according to JPMorgan. Source

Hong Kong’s Venture Smart Financial to launch spot Bitcoin ETF in Q1

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Venture Smart Financial Holdings Limited, a financial services firm based in Hong Kong, is set to introduce its spot Bitcoin exchange-traded fund (ETF) in the city in Q1. Brian Chan, the group head of investment and product at Venture Smart Financial, shared in an interview with Bloomberg that the company aims to accumulate up to $500 million in assets under management by the end of 2024, recognizing the immense potential in the market. “It’s a market that has huge potential. Our goal is $500 million in assets under management by…