Tag: ETF

Spot Bitcoin ETF Is ‘A Buy The News’ Event: Pantera Capital CEO

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The potential approval of a spot Bitcoin ETF in the United States has stirred considerable attention in recent weeks. Dan Morehead, CEO and founder of Pantera Capital, has now shared valuable insights on this matter in his latest “Blockchain Letter”, emphasizing the unique circumstances surrounding this event. Morehead challenges the traditional Wall Street mantra, “Buy the rumor, sell the news,” questioning its relevance in the current spot ETF context. He reflects on how this adage played out historically, specifically citing the CME Futures launch and Coinbase’s public listing. Both instances…

ARK Invest discloses 80 bps fee in spot Bitcoin ETF filing

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Experts say Cathie Wood’s company is the first issuer to publicly disclose basis points (bps) fees for its Bitcoin ETF, signaling constructive talks with the U.S. Securities and Exchange Commission (SEC). ARK Invest and 21Shares filed an update to their joint form S-1 application with the SEC for a spot Bitcoin (BTC) ETF amid industry-wide anticipation that America’s premier securities watchdog would approve such products in the coming weeks or months. The amended ARK 21Shares Bitcoin ETF under the ticker ARKB included the fund’s bps fee stated as 80 bps,…

Bloomberg analysts estimate spot Bitcoin ETF market to hit $100b

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Sources close to Mike Novogratz’s Galaxy Digital say the firm already held a call with hundreds of investment firms about allocating to Bitcoin. Although the U.S. Securities and Exchange Commission (SEC) is yet to approve a spot Bitcoin (BTC) exchange-traded fund (ETF), experts say the market might eventually gain $100 billion from Wall Street investors. As per Bloomberg’s sources familiar with the matter, Galaxy Digital, a crypto bank founded by Bitcoin bull Mike Novogratz, held a call earlier this month with roughly 300 investment professionals about doubling down on Bitcoin.…

ARK, 21Shares update spot Bitcoin ETF application as next SEC deadline looms

ARK Investment Management, a major cryptocurrency investment firm founded by Bitcoin (BTC) advocate Cathie Wood, isn’t giving up on its efforts to launch a spot Bitcoin exchange-traded fund (ETF) in the United States. ARK Invest, on Nov. 20, filed another amended prospectus for its spot Bitcoin ETF product developed in collaboration with the European digital asset manager 21Shares. Once approved, the ARK and 21Shares’ Bitcoin ETF, named the ARK 21Shares Bitcoin ETF, will be trading on the BZX Exchange by the Chicago Board Options Exchange (CBOE) under the ticker symbol ARKB,…

Fake BlackRock XRP ETF, SEC, Elon Musk

This week, the crypto community erupted when a fake BlackRock XRP ETF filing surfaced; regulators are still indecisive on ETF filings; Elon Musk’s “thermonuclear” lawsuit earns praise from InputOutput; and institutional adoption remains sustained. Fake BlackRock XRP ETF filing The XRP community was thrown into excitement when a filing for a BlackRock iShares XRP Trust made its way to the Delaware ICIS on Nov. 13. The discovery triggered an XRP rally to $0.73. However, the asset was dumped immediately when several industry commentators such as Bloomberg ETF analyst Eric Balchunas…

Fidelity Joins Race for Spot Ethereum Exchange-Traded Fund, ETH ETF Would Be Major Win for US Investors: SEC Filing

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Financial services giant Fidelity is joining the roster of companies seeking to offer US investors a spot market Ethereum (ETH) exchange-traded fund (ETF).  A new filing with the U.S. Securities and Exchange Commission (SEC) shows that the $4.5 trillion asset manager is seeking to list and trade shares of the Fidelity Ethereum Fund.  “According to the Registration Statement, each Share will represent a fractional undivided beneficial interest in the Trust’s net assets. The Trust’s assets will consist of ETH held by the Custodian on behalf of the Trust. The Trust…

Bitcoin ETF approval nearing, but brace for more setbacks: BitGo CEO

Mike Belshe, CEO of cryptocurrency exchange BitGo, has suggested that all indications are leaning towards a favorable outcome for a spot Bitcoin (BTC) exchange-traded fund (ETF). However, he emphasized that the journey ahead won’t be without challenges. In an interview with Bloomberg on November 16, Belshe explained that based on the discussions taking place between firms seeking Bitcoin ETF approval and the United States Securities and Exchange Commission (SEC), he holds an optimistic view that approval is imminent. However, he pointed out that improving the market structure is a must…

Bitcoin ETF approval nearing, but brace for more setbacks — BitGo CEO

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Mike Belshe, CEO of cryptocurrency exchange BitGo, has suggested that all indications are leaning toward a favorable outcome for a spot Bitcoin (BTC) exchange-traded fund (ETF). However, he emphasized that the journey ahead won’t be without challenges. In an interview with Bloomberg on Nov. 16, Belshe explained that based on discussions between firms seeking Bitcoin ETF approval and the United States Securities and Exchange Commission (SEC), he holds an optimistic view that approval is imminent. However, he pointed out that improving the market structure is a must before the SEC…

Fidelity Investments floats fresh Ethereum ETF application

Fidelity Investments filed for a spot Ethereum (ETH) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Fidelity Ethereum Fund on the Cboe BZX Exchange.  Fidelity and BlackRock await SEC greenlight According to its filing, the fund is a spot exchange-traded fund (ETF) that would hold Ethereum’s ether (ETH).  The ETF, if approved, will trade in compliance with the Cboe BZX Rule. Fidelity’s Ether ETF push comes after BlackRock’s Ethereum ETF filing. It is believed that ETFs could make it far easier…

SEC delays verdict on Franklin and Globe X’s Bitcoin ETF

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The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on whether to approve the country’s first spot Bitcoin exchange-traded fund. Documents released on Nov. 17, reveal that the regulator has deferred decisions on filings from Franklin and Globe X.  This deferral follows delays for other applicants, as both companies submitted their initial applications later than some of their competitors. The postponement of decisions on these two spot Bitcoin ETF applications, Franklin and Globe X Bitcoin Trust, contributes to the prevailing uncertainty regarding the approval of such…