Tag: ETFs

$89,500,000,000 Asset Manager To Shut Down Bitcoin Futures Exchange-Traded Fund Days After Approval of Spot ETFs

boss

A financial services giant with nearly $90 billion in assets under its management is shutting down its futures Bitcoin (BTC) exchange-traded fund (ETF) just days after the U.S. Securities and Exchange Commission approved a slew of spot market BTC ETFs. According to a new press release, New York-based investment management firm VanEck says that it plans to close and liquidate the VanEck Bitcoin Strategy ETF, an exchange-traded product listed on the Chicago Board Options Exchange (CBOE). “As the sponsor of VanEck ETFs, VanEck continuously monitors and evaluates its ETF offerings…

QCP Capital Forecasts ETH’s Dominance Over Bitcoin To Persist, Ethereum ETFs In Focus

boss

Over the past 30 days, Ethereum (ETH), the second-largest cryptocurrency, has experienced a notable surge of 17%, outperforming Bitcoin (BTC), which has recorded a surge of 2.5% over the same period.  This comes as the initial excitement surrounding the approval of the exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) appears to have waned, with BTC witnessing a 5% drop in the past seven days.  Interestingly, according to crypto trading firm QCP Capital, following the approval of Bitcoin ETFs, the focus has shifted to the potential launch…

Spot Bitcoin ETFs turned down by Thai SEC, investors eye global markets

boss

Thailand’s SEC has declined to allow trading of spot Bitcoin ETFs, citing that foreign-approved Bitcoin ETFs are still in nascent stages and may not align with the economic needs of the Thai market. The US securities market regulator’s recent approval of 11 Bitcoin exchange-traded funds (ETFs) has not swayed the Thai Securities and Exchange Commission to follow suit. The Thai regulator remains cautious, believing these ETFs, which have gained traction in foreign markets, may not be suitable for the Thai economic landscape at this stage. A report by Bangkok Post…

Bitcoin ETFs surpass triple the combined daily volume of 500 ETFs launched in 2023

boss

On Jan. 16, the total volume generated by 10 spot Bitcoin ETFs surpassed the cumulative volume of all 500 ETFs launched in 2023, exceeding it by more than three times. As per data from Yahoo Finance, the 10 newly approved spot Bitcoin ETFs collectively amassed a trading volume of just above $1.8 billion on Jan. 16, with Grayscale, BlackRock, and Fidelity’s offerings leading the way contributing $1.6 billion to the overall total. This volume significantly surpassed the combined $450 million trading volume of all 500 ETFs launched in the United…

Cantor CEO Makes Gold And Bitcoin ETFs Comparison, Foresees True Rally With Halving

boss

In a highly anticipated development, the United States Securities and Exchange Commission (SEC) granted regulatory approval for 11 spot Bitcoin ETFs, sparking excitement within the crypto community.  However, despite initial expectations of a significant price surge, the Bitcoin market has experienced an 8% price drop since the ETFs began trading. Bitcoin ETFs To Unfold Impact Over Time?  Drawing a comparison with the launch of the first Gold ETF, Cantor Fitzgerald Asset Management CEO, Howard Lutnick, noted that the immediate rush to buy the asset did not materialize. Lutnick remarks that…

Crypto Community Raises Alarm Over Coinbase’s Dominance Of Bitcoin Held In Spot ETFs

boss

Coinbase, the largest cryptocurrency exchange in the United States, is presently serving as the custodian of the majority of the Spot Bitcoin ETFs managed by various asset management companies in the industry. This notable concentration is raising worries in the crypto community about significant centralization and potential risks associated with the custodianship.  Coinbase Dominate ETFs As Major Custodian Coinbase’s significant role in the advancement of Spot Bitcoin ETFs has become a target of scrutiny in the crypto community. The American crypto exchange is currently the custodian of 9 out of…

Former BitMEX CEO Arthur Hayes Says Bitcoin ETFs Could Attract Billions of Dollars

While being bullish on Bitcoin ETFs for the long term, Arthur Hayes expressed bearish sentiments on Bitcoin in January, anticipating a short-term correction of up to 30% in prices. In a recent post on Tuesday, Arthur Hayes, Chief Investment Officer of the family office Maelstrom and former CEO of BitMEX, delves into the allure of Bitcoin (BTC) for investors, citing market inefficiency and its uncorrelated behavior with traditional assets as key factors attracting billions in capital from broader financial markets. As one of the earliest and most notable Bitcoin traders,…

How Spot Bitcoin ETFs Could Catapult BTC Price To $500,000, According To This Crypto Trader

boss

Ash Crypto, a prominent figure in the crypto trading community, predicted that the US spot Bitcoin Exchange-Traded Funds (ETFs) could propel BTC’s price to $500,000. Bitcoin To Follow Gold’s ETF Success Story The rationale behind Ash Crypto’s forecast stems from a comparison with gold, whose market capitalization witnessed a significant surge after the introduction of its ETFs. Historically, gold’s market cap escalated from approximately $2 trillion before the ETFs to roughly $16 trillion over the following years. Ash Crypto posits that with its finite supply and growing popularity, Bitcoin might…

JPMorgan Sees Significant Capital From Existing Crypto Products Pouring Into New Spot Bitcoin ETFs

boss

The market reaction to the U.S. Securities and Exchange Commission’s (SEC) reluctant approval of spot bitcoin (BTC) ETFs has been relatively muted, with the focus now shifting to how much capital these new ETFs will pull in, the report said “We are skeptical of the optimism shared by many market participants at the moment that a lot of fresh capital will enter the crypto space as a result of the spot bitcoin ETF approval,” analysts led by Nikolaos Panigirtzoglou wrote. Still, the bank does see a significant rotation from existing…