Tag: ETFs

US SEC Delays Decision on Multiple Ethereum ETFs, What’s Next?

In the recent filing, the US SEC stated that they are still considering on whether these Ethereum ETFs should be listed. The United States Securities and Exchange Commission (SEC) has announced a delay in its decision on several Ethereum (ETH) exchange-traded funds (ETFs) until May 2024. As per regulatory filings on December 18, the SEC postponed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The Hashdex Ether ETF shall hold both spot Ether and futures contracts. Similarly, Grayscale’s Ethereum Futures ETF is a strategic…

SEC delays several Ethereum ETFs, pushing final decision to May

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The United States Securities and Exchange Commission is pushing back its decision on several Ether (ETH) exchange-traded funds (ETFs) to May 2024. In several Dec. 18 regulatory filings, the agency delayed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The Hashdex Ether ETF aims to hold both spot Ether and futures contracts, while Grayscale’s Ethereum Futures ETF is seen as a “trojan horse” that would corner the SEC into allowing Grayscale to convert its Ethereum Trust to a spot Ethereum ETF. In the filings, the…

Grayscale mulls over potential tax implications for spot Bitcoin ETFs

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Grayscale is evaluating the possible tax consequences associated with spot Bitcoin (BTC) exchange-trade funds (ETF), prompted by inaccurate reports circulating about unfavorable tax implications. In a series of posts on X (formerly Twitter), Grayscale clarifies that retail investors of the Grayscale Bitcoin Trust (GBTC) are not expected to incur tax implications when the fund sells Bitcoin to generate cash for meeting share redemptions. As we work to obtain the appropriate regulatory approvals to uplist $GBTC to NYSE Arca, we’re considering the potential tax implications for spot Bitcoin ETFs needing to…

What does it mean for Bitcoin ETFs?

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The U.S. ETF market, valued at approximately $8 trillion, largely hinges on three key firms.  Essential to the ETF ecosystem, authorized participants (APs), a specialized type of broker-dealer, have not expanded in number despite the sector’s rapid growth. These APs play a crucial role in ensuring every North American ETF’s liquidity and efficient operation.  Bloomberg’s analysis of over 3,400 fund filings reveals that most U.S. ETF flows are managed by just three firms – Bank of America, Goldman Sachs, and JPMorgan. In fact, for many funds, over 90% of all…

Gensler hints Grayscale ruling forced SEC to take ‘new look’ at Bitcoin ETFs

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United States Securities and Exchange Commission (SEC) chair Gary Gensler has hinted that the regulator has been rethinking its approach to spot Bitcoin (BTC) exchange-traded products following a recent Grayscale court decision. Speaking to CNBC on Dec. 14, Gensler was questioned about the long list of pending spot Bitcoin exchange-traded fund (ETF) applications. He said the SEC has “between eight and a dozen filings” going through the process at the moment. “We had in the past denied a number of these applications,” he said before adding that the courts have weighed…

Bitcoin ETF’s impact overstated, Ethereum set to surprise skeptics

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A report from America’s largest bank said spot Bitcoin ETF flows in Canada and Europe hint at what to expect in the U.S., adding that upcoming Ethereum upgrades beckon more interest in ETH. Analysts at JPMorgan foresee a lackluster performance from spot Bitcoin ETFs should the U.S. Securities and Exchange Commission (SEC) approve applications from some 13 issuers in early 2024. Also, the Bitcoin (BTC) halving is already priced in and will likely have no further price impact, according to Chase Bank.  The report’s prediction pivoted from general crypto-native sentiment,…

Top five blockchain ETFs that returned over 100% in 2023: Data

As the cryptocurrency community has been focused on the potential approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States, some crypto-linked ETFs have already been racking up significant gains in 2023. One such ETF is the VanEck Digital Transformation ETF (DAPP), which has surged nearly 207% year to date (YTD), according to data from TradingView. Launched in April 2021, DAPP tracks the price and performance of the MVIS Global Digital Assets Equity Index, which, in turn, is based on the performance of major companies involved in…

Will Bitcoin ETFs follow gold ETFs’ path to success?

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Will the much-anticipated approval of spot Bitcoin ETFs be the catalyst for widespread adoption, or could it paradoxically hinder Bitcoin’s growth? As of Dec. 11, the U.S. Securities and Exchange Commission (SEC) has not approved any spot Bitcoin (BTC) ETF applications despite growing interest and numerous filings from major financial entities.  This persistent reluctance stems from concerns about fraud and market manipulation, with the SEC emphasizing the need for a “comprehensive surveillance-sharing agreement with a regulated market of significant size.” Historically, applications for Bitcoin spot ETFs have been repeatedly submitted…

Can Bitcoin Spot ETFs Attract Enough Capital? Experts On What Will Lead To ATH

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Trading firm QCP Capital has shared its thoughts on what could drive the flagship cryptocurrency, Bitcoin, to its all-time high (ATH) of $69,000. From their analysis, Spot Bitcoin ETFs have a huge role to play in all of this.  Bitcoin Hitting $69,000 Dependent On Spot BTC ETFs QCP Capital stated that revisiting its ATH of $69,000 will depend on the “genuine flows the actual ETF will bring in the first few weeks of trading.” If the inflows are below par, the trading firm noted that it could set things up…

Investment Giants BlackRock and Fidelity Stir Interest in Spot Bitcoin ETFs Among Professionals

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These prospective bitcoin ETF issues have a significant amount of assets under management (we estimate around $16 trillion), so they could have a huge impact on crypto. If only a small percentage of that amount gets invested into bitcoin, the effect would most likely be very significant because, currently, bitcoin exchange-traded products only amount to $38.8 billion of assets, based on our calculations (including Grayscale’s trust). Original