Tag: ETF

Grayscale wins the court battle, but what does this mean for a spot Bitcoin ETF?

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A federal judge has overturned the United States Securities and Exchange Commission’s decision to deny an exchange-traded fund (ETF) offering from Grayscale Investments through its Bitcoin Trust, but many experts have pointed out the court ruling will not automatically lead to the first spot Bitcoin ETF in the country. In an Aug. 29 decision with the U.S. Court of Appeals for the District of Columbia Circuit, Judge Neomi Rao supported Grayscale’s position that its proposed Bitcoin (BTC) ETF was “materially similar” to Bitcoin futures exchange-traded products already approved by the Securities and…

The Real Reasons the Grayscale Bitcoin ETF Decision Matters

Crypto is salivating not only over the court’s pro-ETF ruling, but anti-SEC comments. The top U.S. securities regulator fell “short of the standard,” made “unexplained” calls and “failed to adequately explain” its argument. In particular, the SEC didn’t make a good enough case for approving some bitcoin-related exchange-traded products (namely futures-based products), and not others. Source

Bitcoin (BTC) ETF Fixation Because Markets Are Boring, says Arca CIO

While bitcoin today jumped more than 7% on a positive ruling regarding Grayscale’s attempt to convert its Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF, Jeff Dorman, Chief Investment Officer at Arca, says the world’s largest digital asset will need a “significant catalyst” to break out of its range-bound ways. Source ArcaBitcoinBoringBTCCIOETFFixationMarkets CryptoX Portal

Grayscale’s Bitcoin ETF triumphs over SEC, fueling crypto market rally

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Grayscale secured a pivotal victory against the SEC, paving the way for the U.S.’s first Bitcoin spot ETF and igniting a surge in Bitcoin and other cryptocurrency prices. In a milestone development, Grayscale Investments LLC secured judicial backing for the initiation of a Bitcoin spot exchange-traded fund (ETF) in the United States. A panel of three federal judges in Washington effectively annulled the U.S. Securities and Exchange Commission’s prior decision to prevent the ETF from going…

SEC Crushed, GBTC Rockets Towards ETF, Bitcoin Targets $28,000

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In a significant turn of events for Bitcoin (BTC) and the overall market, cryptocurrency asset manager Grayscale has emerged victorious in its legal battle against the U.S. Securities and Exchange Commission (SEC).  The U.S. District of Columbia Court of Appeals has ruled in favor of Grayscale, overturning the SEC’s lawsuit and potentially bringing the company one step closer to achieving Bitcoin Spot exchange-traded fund (ETF) status.  Bitcoin Surges As Grayscale’s Legal Victory Boosts Market Sentiment The recent ruling by the U.S. District of Columbia Court of Appeals has dealt a…

GBTC Can Be Converted Into Bitcoin (BTC) ETF, Appeals Court Rules

The court decision comes after a flurry of large institutions filed applications for spot bitcoin ETFs, with asset manager BlackRock filing its application in June. BlackRock’s filing generated a large amount of optimism that a spot bitcoin ETF might be approved. Others like Fidelity, the large mutual-fund manager, have also applied for bitcoin ETFs. Seven bitcoin futures ETFs have been trading since 2021. Source

Europe’s first Bitcoin ETF receives ESG label

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Jacobi Asset Management declares its Bitcoin ETF as an ESG-compliant fund under EU rules. Europe’s first Bitcoin exchange-traded fund (ETF) has been declared as an Article 8 fund by its issuer, marking a bold intersection of cryptocurrency and ESG (environmental, social, and governance) investing. By receiving this designation, the fund is legally obligated under European Union rules to advance ESG causes.  Jacobi FT Wilshire Bitcoin ETF joins a diverse portfolio of Article 8 financial products, a…

Hashdex joins fray, seeks spot Bitcoin ETF on heels of Grayscale setback

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto asset manager Hashdex has ignited excitement by submitting an application to the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin ETF. The filing outlines that the Hashdex Bitcoin ETF intends to directly source its Bitcoin assets from exchanges affiliated with the Chicago Mercantile Exchange market. Seasoned analysts, including James Seyffart from Bloomberg, have dissected the application, revealing a strategy primarily centered on exchange-traded position transactions.  This method involves trading futures contracts in exchange…

Hashdex joins race for spot Bitcoin ETF with unique strategy

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Crypto asset management company Hashdex has joined the competition for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States. The firm has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a Bitcoin futures ETF that will hold spot Bitcoin.  ETFs are investment funds that trade on a stock market, with their value derived from an underlying basket of assets such as stocks, bonds, commodities and other financial instruments. Similarly, Bitcoin ETFs track BTC’s value and trade on traditional stock exchanges rather than crypto exchanges.…

Cathie Wood’s ARK Invest Joins Ethereum Futures ETF Race After Spot Bitcoin ETF Delay

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The US Securities and Exchange Commission (SEC) had on August 11 moved to delay its decision on the ARK 21Shares Spot Bitcoin ETF application. Following this, Cathie Wood’s ARK Invest and 21 Shares has moved to apply for a separate Ethereum futures ETF in what many may consider a double-barreled approach for these firms.  ARK Invest Joins Ethereum Futures ETF Race According to a filing with the SEC on August 24, ARK Invest and 21 Shares will act as sub-adviser and sub-sub-adviser respectively, on two separate funds that seek to…