Tag: ETFs

BlackRock argues SEC has no grounds to treat crypto futures and spot ETFs differently

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BlackRock has argued that the U.S. Securities and Exchange Commission doesn’t have any legitimate reason to treat spot-crypto and crypto-futures exchange-traded fund applications differently. BlackRock’s plan for a spot-Ether (ETH) ETF called the “iShares Ethereum Trust” was officially confirmed on Nov. 9, after Nasdaq submitted the 19b-4 application form to the SEC on the firm’s behalf. In its application, BlackRock called the SEC’s treatment of spot crypto ETFs into question, as it asserted that the agency bases its reasons for continually denying these applications on incorrect regulatory distinctions between futures…

Bitcoin ETFs will drive institutional adoption in 2024 — Galaxy Digital’s Mike Novogratz

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Galaxy Digital founder Mike Novogratz has told investors that 2024 will be headlined by institutional adoption of cryptocurrencies, which will be driven by the pending approval of Bitcoin (BTC) spot exchange-traded funds (ETFs). During Galaxy Digital’s third-quarter earnings call on Nov. 9, Novogratz highlighted the firm’s belief that approving several ETFs “is now not a matter of if but when.” The fund manager filed its spot Bitcoin and Ether (ETH) ETF applications with the United States Securities and Exchange Commission in partnership with Invesco in Q3 2023. Related: Bitcoin briefly tops…

UBS Group’s Wealthy Clients Can Now Trade Some Crypto ETFs in Hong Kong: Bloomberg

In the past few days, Hong Kong has moved towards allowing retail investors to buy spot crypto Exchange Traded Funds (ETFs) and primary dealing of tokenization. The move appears to be another step in Hong Kong’s recently accelerated ambitions to become a virtual asset hub. It implemented a new regulatory regime in June, accepting applications for crypto trading platform licenses, and granted the first set in August, allowing exchanges to serve retail customers. Source

Ark Invest Partners with 21Shares to Launch New Crypto ETFs Suite

The entire world of finance (both traditional and crypto) is eagerly waiting for the US SEC to approve spot Bitcoin ETF. Preparations are in top gear as Cathie Wood’s Ark Invest is moments away from launching a new “suite” of exchange-traded funds (ETFs). In line with this ambition, the asset management company has partnered with the world’s largest crypto ETP issuer 21Shares. According to Ark Invest, the suite will open up an array of options to investors who are looking to diversify their portfolios. 21Shares also shares similar sentiments with…

SEC yet to indicate approval timeline, says Grayscale CEO on spot Bitcoin ETFs

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Grayscale CEO Michael Sonnenshein said his firm has not received any word about approval for spot Bitcoin ETFs from the Securities and Exchange Commission (SEC) leading up to a window where all 12 applications could receive the green light. The SEC has not disclosed when it might authorize issuers like BlackRock and ARK Invest to list exchange-traded funds (ETFs) that offer direct exposure to spot Bitcoin prices, said Sonnenshein on Nov. 8. Grayscale’s boss added that the firm could litigate if the SEC rejects its application. Sonnenshein shared these remarks…

Former Cantor leaders launch crypto lending service ahead of potential Bitcoin ETFs

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Digital Prime Technologies, founded by former Cantor Fitzgerald executives, has launched a crypto lending platform named Tokenet, aiming to capitalize on the potential U.S. regulatory approval of Bitcoin ETFs. Digital Prime Technologies, a company launched by former Cantor Fitzgerald executives, has entered the crypto lending market with a new platform named Tokenet. The platform is aimed at positioning itself for a boom expected with the potential approval of Bitcoin exchange-traded funds (ETFs) in the United States. Already serving clients such as Xapo Bank, Tokenet allows the lending of digital assets…

Ex-Cantor execs launch crypto lending platform in expectation of Bitcoin ETFs

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A new crypto-lending platform dubbed Tokenet says it will service what it expects to be an influx of institutional clients following the potential United States approval of spot Bitcoin (BTC) exchange traded fund (ETF).  The platform was launched by a team of executives who previously headed financial services firm Cantor Fitzgerald who since joined a new brokerage firm called Digital Prime Technologies. In a Nov. 7 statement, Tokenet said it will allow firms to borrow and lend digital assets while managing collateral positions. The platform also offers risk management tools…

Hong Kong to Let Retail Investors Gain Exposure to Crypto ETFs

Hong Kong’s top financial regulator SFC shows willingness to allow retail players to gain access to spot crypto ETFs while ensuring that risks are addressed properly. Hong Kong regulators are assessing whether they can allow retail investors to seek exposure to spot crypto ETFs that directly invest in crypto assets. Julia Leung, the Chief Executive Officer of the Securities and Futures Commission said that the city is considering granting retail investors access to spot ETFs, contingent upon the satisfaction of regulatory requirements. Leung said: “We welcome proposals using innovative technology…

Hong Kong’s Securities Regulator Now Considering Spot Crypto ETFs: Bloomberg

In January, the SFC tightened regulations by restricting retail investors from accessing crypto spot ETFs, limiting them to professional investors with portfolios of at least 8 million HKD ($1 Million). Then, in October, the SFC updated its rule book to allow a broader range of investors to engage in spot-crypto and ETF investing, stipulating that they pass a knowledge test and meet net worth – though less than the professional investor threshold – requirements. Source