Tag: ETFs

South Korea to discuss NFT classification, Bitcoin ETFs with Gary Gensler

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Head of South Korea’s Financial Supervisory Service, Governor Lee Bok-hyun, is scheduled to discuss key regulatory issues with U.S. SEC Chairman Gary Gensler in May. The agenda includes potentially classifying non-fungible tokens (NFTs) as virtual assets and approving spot bitcoin exchange-traded funds (ETFs) in South Korea. Unlike cryptocurrencies, South Korea does not recognize NFTs as virtual assets due to their perceived minimal impact on financial markets. South Korea’s stance may change as speculative activities around NFTs increase, aligning with the rising value of major cryptocurrencies. The reclassification of NFTs as…

Galaxy Digital CEO Mike Novogratz predicts ETFs will drive Bitcoin adoption

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Mike Novogratz, CEO of Galaxy Digital, recently shared his insights on Bitcoin’s future and the role of Exchange-Traded Funds (ETFs) in boosting retail demand for digital assets. During an interview with Forbes, Novogratz highlighted the significant impact of traditional finance in driving Bitcoin’s next growth phase. His optimism follows the U.S. Securities and Exchange Commission’s approval of the first U.S.-listed spot bitcoin ETFs, a move he believes could mark the beginning of a new era for institutional and retail engagement in the cryptocurrency sector. ETFs are anticipated to play a…

Carson Group adds spot Bitcoin ETFs into $30b portfolio

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Omaha, Nebraska-based Carson Group is offering four-spot Bitcoin (BTC) ETFs to its clientele, according to Bloomberg. The investment firm has included top candidates such as BlackRock’s iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF, and the Franklin Bitcoin ETF in its investment offerings to clients. Grant Engelbart, the vice president and investment strategist at Carson Group, delineated the inclusion criteria, pointing out the substantial assets and vigorous trading volumes as key rationales behind choosing the frontrunners, BlackRock and Fidelity’s products.  The BlackRock iShares Bitcoin Trust (IBIT), with…

Max Keiser Warns of Government Seizing Bitcoin in ETFs — Predicts 1987-Style Crash as BTC Rises to $500K

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Bitcoin proponent Max Keiser has warned of potential government seizure of bitcoin held in spot exchange-traded funds (ETFs). He additionally issued a stark warning about a looming 1987-style crash, while simultaneously predicting that the bitcoin’s price will surge past $500,000. Max Keiser’s Crash and Bitcoin Seizure Warnings Bitcoin advocate Max Keiser expressed concerns about spot […] Original

Spot Bitcoin ETFs log $35.6m in first single-day outflow since January

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Spot Bitcoin ETFs in the U.S. saw daily net outflows for the first time as Grayscale GBTC selloffs outpaced inflows into nine other funds.  On Feb. 21, spot Bitcoin (BTC) ETFs recorded net outflows worth $35.6 million in what may be a round of profit-taking by investors. Yesterday was the first day these Bitcoin-based exchange-traded funds experienced negative numbers since Jan. 25, following 17 days of consecutive net inflows mainly led by BlackRock and Fidelity. According to SoSoValue, Grayscale’s GBTC ETF accounted for the bulk outflows. GBTC shed $199 million,…

The European Central Bank’s Blog Post on Bitcoin ETFs

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Moreover, it seems wrong that Bitcoin should not be subject to strong regulatory intervention, up to practically forbidding it. The belief that one is protected from the effective access of law enforcement authorities can be quite deceptive, even for decentralised autonomous organisation (DAO). DAOs are member-owned digital communities, without central leadership, that are based on blockchain technology. A recent case involved BarnBridge DAO, which was fined more than $1.7 million by the SEC for failing to register the offer and sale of crypto securities. Despite claiming autonomy, the DAO settled…

Beyond Bitcoin: Ripple CEO Says Approval of Multiple Crypto ETFs ‘Inevitable’ — Embraces Idea of Spot XRP ETF

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Ripple CEO Brad Garlinghouse believes that the U.S. Securities and Exchange Commission (SEC) will approve spot exchange-traded funds (ETFs) based on crypto tokens other than bitcoin. “I think it’s inevitable that there’ll be multiple ETFs around different tokens,” he stressed, noting that Ripple would welcome an XRP ETF. “In my opinion, it makes these markets […] Original

South Korean parties pledge pro-crypto policies favoring ETFs, tax delays

Leading up to South Korea’s general election in April, both the governing and opposition parties are courting voters with pro-crypto policies. South Korea, known for its high-volume crypto trading scene, could see these electoral pledges positively influence the global cryptocurrency market. According to various local sources, the governing People Power Party has outlined a commitment to explore the feasibility of spot Bitcoin ETFs. The party has announced plans to create a digital asset advancement committee tasked with recommending legislation and enforcement measures and has expressed a desire to prioritize establishing…