Tag: ETF

Metaverse ETF ‘PUNK’ closing after betting against Meta’s vision

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After 15 months and an approximate 30% loss, an exchange-traded fund (ETF) opposing Meta’s perspective on the metaverse is shutting down. Subversive Capital is set to shut down and liquidate its Subversive Metaverse ETF, known by its “PUNK,” ticker, as the company shifts its focus toward artificial intelligence (AI). In January 2022, the PUNK ETF was introduced with the objective of investing in companies that support the infrastructure and applications of the metaverse. However, Mark Zuckerberg’s Meta was notably absent from the list. In its online fund description, Subversive Capital…

Grayscale and Bitwise distance themselves from Ether futures ETF plans

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Two prominent crypto asset managers — Grayscale Investments and Bitwise Asset Management — have halted their Ether (ETH) futures exchange-traded fund (ETF) plans amid growing scrutiny from United States regulators. On May 17, Grayscale filed an amendment to its Securities and Exchange Commission (SEC) filing to remove mentions of an Ether futures ETF. The amendment comes less than a week after sharing plans to launch a trio of ETF products. The other two flagship products include a semi-spot Bitcoin (BTC) ETF that would invest in the spot BTC market, and a…

Valkyrie Leveraged Bitcoin Futures ETF gets inspiration from TradFi memes

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In its latest futures-based exchange-traded fund (ETF) filing, Valkyrie Funds utilizes one of the popular memes from the financial Twitter community, known as “fintwit,” to capture attention and interest. On May 16, the investment firm submitted a new application for a Bitcoin (BTC) futures-based ETF to be listed on the Nasdaq with the ticker symbol “BTFD.“ Both of Valkyrie’s Bitcoin-centric funds do not have direct exposure to Bitcoin itself; instead, they invest in Bitcoin futures traded on the Chicago Mercantile Exchange. Bitcoin futures are financial contracts that allow investors to speculate on the future…

Cboe Files Third Attempt at Securing Spot Bitcoin ETF Approval from SEC

Chicago Board Options Exchange parent Cboe has again filed for a spot Bitcoin ETF with the SEC despite being rejected in late January.  In a recent regulatory filing, Cboe Global Markets made its third attempt to list the ARK 21Shares Bitcoin exchange-traded fund (ETF). On Tuesday, the Chicago Board Options Exchange parent company sought approval from the Securities and Exchange Commission (SEC). The latest regulatory filing reflects the Cboe’s struggle for a US Spot Bitcoin ETF. The SEC has rejected all previous attempts, with the latest in late January. However, Cboe is one…

Grayscale expands ETF business, puts forward 3 new crypto funds

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Three new crypto-focused exchange-traded funds (ETFs) have been put forward for approval by cryptocurrency asset manager Grayscale Investments, which also announced a new entity to manage its growing funds. On May 9, Grayscale said it launched a new arm of its business — the Grayscale Funds Trust — allowing it to manage many of its publicly traded financial products in-house. In addition to the new trust, Grayscale revealed it filed a registration statement with the United States Securities and Exchange Commission (SEC) for three new crypto-focused ETFs, despite previous roadblocks…

Grayscale moves to expand ETF business as legal fight over spot bitcoin fund continues

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Grayscale Investments is forging ahead in its plan to transform itself into a major ETF player even as the firm’s potential flagship fund remains blocked by regulators. The crypto-focused asset manager announced on Tuesday that it has created the Grayscale Funds Trust to manage some publicly traded products, including ETFs, under its own roof as part of the rules of the 1940 Investment Companies Act. Grayscale also filed to create three new ETFs under the banner of the trust. “The formation of the Grayscale Funds Trust represents yet another important…

ARK Investment and 21Shares revive spot Bitcoin ETF application

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Cathie Wood’s investment management firm ARK Investment in collaboration with crypto exchange-traded product provider 21Shares is making a third attempt to apply to offer a spot Bitcoin exchange-traded fund (ETF) after two rejections.   ARK and 21Shares recently filed another application with the US Securities and Exchange Commission (SEC) for a spot Bitcoin ETF in the United States. The ARK 21Shares Bitcoin ETF is expected to be listed and traded on the Cboe BZX Exchange. Both companies…

21Shares and Cathy Wood’s Ark Investment Renew Bitcoin ETF Bid amid BTC Price Rebound

The new filing comes as cryptocurrencies, and risk assets in general, are in recovery after a bad 2022. Crypto exchange-traded-product issuer 21Shares and investment firm Ark Investment Management are once again trying to get a spot Bitcoin exchange-traded fund (ETF) approved. This comes after the United States Securities and Exchange Commission (SEC) rejected two previous attempts. The firms argue that such a fund would offer protection currently not available to investors in the United States. The  ARK 21Shares Bitcoin ETF would trade under the ARKB ticker and would track the…