Tag: ETF

Hashdex Drops Ad Ahead of Its Spot Bitcoin ETF Approval

Asset management firm Hashdex has unveiled a new advertisement amid the US Securities and Exchange Commission’s (SEC) evaluation of applications for the listing of spot Bitcoin (BTC) tickers on US exchanges for exchange-traded funds (ETFs). The advertisement, shared on December 28 on X (formerly Twitter), features an interview setting from the 1980s, where the subject critiques the use of home computers for everyday tasks, drawing a parallel to the skepticism around emerging technologies. Besides, the release comes at a pivotal moment as the SEC weighs its decision on Bitcoin ETF…

Spot Bitcoin ETF Approval May Trigger Drop To $32,000, Here’s Why

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A recent report from CryptoQuant has sparked discussions, suggesting that a Bitcoin spot exchange-traded fund (ETF) approval by the US Securities and Exchange Commission (SEC) could lead to a significant market event. This possibility arises amid the Bitcoin (BTC) price stabilizing above $40,000, leaving many market participants sitting on substantial unrealized profits. The report by CryptoQuant particularly posits that this scenario could trigger a “sell the news” event, historically linked to market corrections. Bitcoin Possible Drop To $32,000 CryptoQuant’s analysis points to the current state of Bitcoin holders as a…

Cathie Wood’s ARK ETF Overhauls Bitcoin Portfolio: ProShares In, Grayscale Out

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In a significant shake-up of its Bitcoin (BTC)-related holdings, Cathie Wood’s ARK Next Generation Internet exchange-traded fund (ETF) has made strategic changes as BTC ends the year with a significant 156% surge. According to a Bloomberg report, the ETF sold all its remaining 2.25 million shares of the Grayscale Bitcoin Trust (GBTC) while acquiring 4.32 million shares of the ProShares Bitcoin Strategy ETF.  Caution As Reason For Exiting Grayscale Bitcoin Trust According to Bloomberg, Wood cited caution as the reason behind the sale of the Grayscale Bitcoin Trust. The move…

Could a bitcoin ETF approval be a sell-the-news event? What investors are expecting on the big day

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Just a couple of weeks from now, the U.S. could have its first spot bitcoin ETF. The excitement around the prospect has been building for months, but the market may be a little overheated now. The chances that the ETF approval will be a sell-the-news event have been getting higher, according to CryptoQuant, which points to the fact that investors have been sitting on high unrealized profits – a trend that historically has preceded price corrections. In this case, bitcoin could correct all the way down to $32,000, the short-term…

Hong Kong firm mulls tokenizing 3-ton gold vault amid local ETF boon

Value Partners, a Hong Kong-listed company, is set on issuing blockchain tokens backed by physical gold and filing applications for crypto-related ETFs. According to local media Hong Kong Commercial Daily, the firm plans to tokenize its three tons of gold bars worth an estimated $201 million at current prices.  Value Partners already offers the only Hong Kong gold ETF backed by physical gold and believes digitizing its precious metal with blockchain technology will only improve accessibility for investors.  The move comes after gold hit its all-time high and traded at…

Cathie Wood’s Ark Invest Sells Coinbase and GBTC Shares to Buy ProShares Bitcoin ETF (BITO)

Ark Invest purchased $92 million worth of ProShares Bitcoin Strategy ETF (BITO) and 4,320,928 units of the US Bitcoin futures-linked ETF. Cathie Wood’s asset management firm Ark Invest has actively engaged in portfolio rebalancing this year amid a surge in stock prices of crypto firms. In the latest development on Wednesday, December 27, Ark Invest divested its Coinbase holdings and all of its GBTC holdings. In a recent trade filing, the company led by Cathie Wood revealed the sale of 148,885 Coinbase shares valued at approximately $27.58 million on Wednesday.…

Cathie Wood’s ARK Invests in ProShares Bitcoin ETF After Dumping GBTC Holdings

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The ProShares exchange-traded fund, which started trading in October 2021 as the first U.S. bitcoin-linked ETF, now accounts for 5.03% of the ARK Next Generation Internet ETF (ARKW), its sixth-largest holding. The fund no longer holds any GBTC shares, with the last reported sale on Dec. 20. At just under 12%, Coinbase remains the fund’s largest holding even after Wednesday’s sale of 148,885 shares. Original

MicroStrategy Grows Bitcoin Reserves By 14K BTC Ahead Of ETF Approval

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MicroStrategy (MSTR), a prominent Bitcoin holding company, has once again expanded its BTC holdings with a substantial purchase of 14,620 Bitcoin, amounting to a staggering $615.7 million.  The former CEO of the American business intelligence (BI) firm announced the acquisition, highlighting the company’s continued confidence in Bitcoin’s long-term potential.  With the potential approval of Bitcoin spot exchange-traded funds (ETFs) on the horizon, MicroStrategy aims to capitalize on the positive impact on BTC’s price and the company’s profitability in the leading cryptocurrency market. MicroStrategy Stock Skyrockets 337% According to a CNBC…

The Year Crypto Rebuilds Its Image, Fueled by ETF Hopes and Regulatory Clarity

First, SEC approval of spot bitcoin ETFs could stimulate more excitement and support for digital assets, clarifying regulatory uncertainties and valuation concerns. The recent excitement about advancements in payment processing, particularly with the introduction of PayPal’s U.S. dollar stablecoin, PYUSD, highlights the need for clarity. This excitement, however, was muddled due to the competition with other stablecoins that have varying commitments to reserve, anti-fraud or custody obligations. A new ETF approval could facilitate the growth of other blockchain projects including trustworthy stablecoins. Source