Tag: ETF

BlackRock Bitcoin ETF seed capital, HashKey targets market makers, and more

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The countdown is underway for the United States Securities and Exchange Commission (SEC) to decide on approving the first spot Bitcoin exchange-traded fund (ETF) in the United States. After several delays, the regulator’s final deadline is approaching, with market participants anticipating a decision in early January 2024. In another sign that a green light may be forthcoming, companies awaiting approval have regularly met with SEC officials over the past weeks, discussing their proposals and making adjustments as requested. If approved, the biggest cryptocurrency will be traded on the spot market…

Vaneck submits fifth amendment for Bitcoin ETF launch

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James Seyffart, an analyst at Bloomberg Intelligence, reports that the American asset manager, VanEck, has submitted their fifth S-1 Amendment for their spot Bitcoin ETF.  The updated filing reveals their ticker $HODL. Seyffart also described a few highlights in the amendment, including the create or redeem language within the S-1 filings encompasses both in-kind and cash, which he suggests may be a trend in retaining this optionality.  However, at the same time, Seyffart noted that 19b-4 approvals might initially limit creations to cash, pending potential updates for confirmation. For this…

Vanguard and State Street Steer Clear of Bitcoin ETF Hype

Despite Vanguard and State Street’s decision to abstain, the SEC is approaching a crucial deadline to announce its decision on the first Bitcoin ETF in early January.  The anticipation surrounding the potential approval of spot Bitcoin Exchange-Traded Funds (ETFs) in the United States has reached its zenith. However, amid the frenzy, two major players in the ETF industry, Vanguard Group, and State Street Corp (NYSE: STT), have notably chosen to stay on the sidelines. While other industry giants like BlackRock Inc (NYSE: BLK) and Grayscale Investments LLC eagerly await regulatory…

New ETF Proposal Linked to MicroStrategy Stocks Aims for Monthly Payouts to Investors

The fund would use investor capital to buy call options on MSTR while simultaneously selling put options. The premiums collected from these transactions would then be distributed to shareholders as monthly yields. An investment firm YieldMax directed a request to the Securities and Exchange Commission (SEC) seeking regulatory approval for an exchange-traded fund (ETF) that offers monthly income tied to MicroStrategy derivatives. If granted the green light, the ETF is scheduled to launch in 2024 under the name Option Income Strategy ETF, with the ticker symbol MSTY. YieldMax, the company…

Fidelity’s FBTC Spot Bitcoin ETF Inches Closer to SEC Approval on DTCC List

As the growing anticipation for a spot Bitcoin ETF approval continues to propel BTC prices higher, Jurrien Timmer, Fidelity’s director of global macro, believes the crypto asset could surge to over $1 billion in 2038. Fidelity Investments achieves a significant milestone as its spot Bitcoin exchange-traded fund (ETF), known as FBTC, makes its appearance on the active and pre-launch list of the Depository Trust & Clearing Corporation (DTCC). The move places the financial services company at the forefront of the race for the first spot Bitcoin (BTC) ETF approval in…

Fidelity spot Bitcoin ETF listed on DTCC

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Fidelity’s Wise Origin spot Bitcoin ETF is listed on the Depository Trust & Clearing Corporation (DTCC) under the ticker symbol FBTC. The spot Bitcoin ETF was listed by DTCC, which is engaged in clearing transactions. Source: DNCC It provides post-trade clearance, settlement, custody, and information services for stocks, exchange-traded funds, and other products, according to NASDAQ. Bloomberg Intelligence analyst Eric Balchunas said on X (formerly Twitter) that almost all tickers have already been set. Fidelity has revealed their ticker, $FBTC, another boring-on-purpose choice aimed at the Boomerati. Almost all the tickers…

Experts explain why two ETF industry giants are sitting out Bitcoin-ETF race

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Despite all the hype surrounding spot a Bitcoin (BTC) exchange traded fund (ETF), two of the biggest issuers in the industry are brushing off the buildup. As journalists from Bloomberg note, two of the industry’s three largest ETF companies are deliberately sitting out on the bid to introduce BTC to the market. The two entities — Vanguard and State Street — are poised to miss out on the frothing speculation posed by the asset’s institutional introduction. Officials from Vanguard said that the company does not intend to offer a spot…

Investment firm floats yield-bearing ETF based on MicroStrategy stock

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A specialized exchange-traded fund (ETF) firm called YieldMax has filed to launch the first yield-bearing ETF product based on shares in Michael Saylor’s Bitcoin holding company, MicroStrategy. According to a Dec. 7 filing with the United States SEC, YieldMax has officially applied to launch its Option Income Strategy ETF based on shares in MicroStrategy, slated for release sometime in 2024. If approved by the SEC, the ETF will trade under the ticker “MSTY” — just one letter off MicroStrategy’s pre-existing ticker “MSTR.” Yieldmax’s filing with the SEC for its leveraged…

Massive Uptick in Exchange Volumes Could Suggest Growing Institutional Demand Ahead of ETF Approval: Glassnode

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A massive surge in crypto exchange flows suggests institutions could be preparing for the potential approval of spot market Bitcoin (BTC) exchange-traded funds (ETFs), according to the market intelligence firm Glassnode. Glassnode notes in a new analysis report that the 30-day simple moving average (SMA) of Bitcoin flows in and out of exchanges grew from $930 million from the start of the year to over $3 billion at time of writing, a 220% increase. “Looking at this from the on-chain volume domain, we can see that YTD (year-to-date) flows in…

SEC discussing ‘key technical details’ with spot crypto ETF applicants: Report

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Officials with the United States Securities and Exchange Commission are reportedly discussing aspects of Bitcoin (BTC) exchange-traded funds, or ETFs, proposed by asset managers. According to a Dec. 7 Reuters report, industry insiders said the SEC and certain asset managers were discussing “key technical details” related to U.S. exchanges listing shares of a spot Bitcoin ETF. To date, the commission has never given the green light to any spot cryptocurrency exchange-traded product, instead postponing decisions on applications for the maximum allowable time. Memos released by the SEC in November showed…