Tag: ETFs

SEC likely to prioritize ‘cash create’ spot Bitcoin ETFs

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A Senior Bloomberg ETF analyst speculated that the Securities and Exchange Commission favors a particular redemption model and that could be a factor for which applications get approved. The U.S. Securities and Exchange Commission (SEC) may choose to first approve spot Bitcoin ETFs with a cash create redemption structure, according to ETF expert Eric Balchunas who said that such a decision remained unconfirmed by America’s securities regulator. Cash create differs from the alternative “in-kind” option since it requires issuers to hold the dollar equivalent of every Bitcoin (BTC) offered in…

Franklin Templeton CEO Talks about Bitcoin ETFs, Tokenization and Their Plans Ahead

Jenny Johnson, the President and CEO of Franklin Templeton managing assets over $1.3 trillion, highlighted the pivotal role of tokenization in the financial sector during the Fortune Global Forum in Abu Dhabi. Following Franklin Templeton’s recent application for a Bitcoin ETF, Johnson’s remarks signify a broader recognition of blockchain technology’s potential, particularly in democratizing private markets and enhancing transactional efficiency through tokenization. In her statements, Franklin Templeton CEO drew a distinction between Bitcoin and blockchain, acknowledging the demand for Bitcoin ETFs but expressing greater excitement about blockchain’s transformative impact on…

Bitcoin ETFs, user experience will drive adoption — eToro CEO

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While grassroots cryptocurrency adoption went stale after last year’s implosions in the industry, trading platform eToro’s chief executive believes that the appeal of exchange-traded funds (ETFs) for institutions and ease of investing through various platforms for non-professionals could further drive Bitcoin (BTC) adoption. EToro CEO Yoni Assia told Cointelegraph at the recent Abu Dhabi Finance Week that institutions typically have rigid systems and prefer not to build new infrastructure for each asset class. However, for him, products like Bitcoin ETFs align with their existing modes of operation, making it easier…

SEC meets with Grayscale, BlackRock about potential bitcoin ETFs

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Bitcoin. Filip Radwanski | Sopa Images | Lightrocket | Getty Images The Securities and Exchange Commission is formally engaging with asset managers ahead of a much anticipated decision on whether the regulator will approve a bitcoin ETF, according to memos published this week. The regulator said in a memo that it met with Grayscale on Thursday about the potential conversion of the Grayscale Bitcoin Trust into an ETF. The SEC had previously blocked this move, but Grayscale challenged that decision in court and won. SEC officials also met with representatives…

Research the dynamics of market manipulation before you jump in Bitcoin ETFs

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Investors are eagerly anticipating the potential approval of a spot bitcoin exchange-traded fund (ETF) by the United States Securities and Exchange Commission (SEC). The excitement began in early June when the investment giant BlackRock submitted a filing for the product and gained further momentum after a court decision mandated the SEC reconsider its rejection of Grayscale’s proposal to transform its Bitcoin Trust (GBTC) into a spot ETF. The SEC’s objection to ETFs is related to the fact that Bitcoin (BTC) is traded in unregulated venues around the world, which poses…

SEC Stalls Decision on Franklin and Hashdex Bitcoin ETFs as Analysts Predict Wave of Approvals in January 2024

The update from the SEC appears to suggest that it plans to approve all Bitcoin exchange-traded funds (ETFs) at once. In a move that many may not have envisaged, the Securities and Exchange Commission (SEC) has provided an update on two Bitcoin ETF applications nearly a month before the scheduled deadline. In a Tuesday filing, the Commission, via separate orders, initiated proceedings to allow for additional analysis into the proposals of Franklin Templeton and Hashdex. This is to determine that they are fully compliant with the Securities Exchange Act and…

SEC seeks public input on Franklin Templeton, Hashdex Bitcoin ETFs

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The United States Securities and Exchange Commission has announced the next steps in its consideration of the proposed Franklin Templeton and Hashdex spot Bitcoin (BTC) exchange-traded fund (ETF) bids. The agency has requested written comments on both proposals to approve or deny the applicants’ Forms 19b-4. SEC Form 19b-4 is a public disclosure approved by the SEC Trading and Markets Division separately from Form S-1, the offering prospectus subject to Corporate Finance Division approval. The SEC’s requests have an open period of 35 days from their publication in the Federal…

SEC extends comment window for Franklin Templeton and Hashdex Bitcoin ETFs

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Experts said the SEC could be laying blocks ahead of spot Bitcoin ETF approvals in early January 2024 following early delayed decisions on bids from two potential issuers. The U.S. Securities and Exchange Commission (SEC) delayed its decision to approve or disapprove spot Bitcoin ETF applications submitted by trillion-dollar asset manager Franklin Templeton and crypto-native firm Hashdex.   Per Nov. 28 filings, the SEC is seeking new commentary for its review of these Bitcoin ETF punts. The news came after America’s securities watchdog disclosed its plan to extend the period for…

Spot Bitcoin (BTC) ETFs in Brazil Find Hefty Demand

As investors await approval of a spot bitcoin exchange-traded fund (ETF) in the U.S., a check in Brazil finds hefty demand for such vehicles, which have been trading there for more than two years. Together, those ETFs have $96.8 million of assets under management (AUM) as of Nov. 21, led by Hashdex’s Nasdaq Bitcoin Reference Price FDI (BITH11) with $57.8 million in AUM, or a market share of about 60%. For comparison, the largest ETF in the nation, iShares Ibovespa Index (BOVA11), has $2.41 billion in AUM and the second…

Spot Bitcoin (BTC) ETFs Have Almost $100M in AUM in Brazil, Led by Hashdex Offering

Together, those ETFs have $96.8 million of assets under management (AUM) as of November 21, led by Hashdex’s Nasdaq Bitcoin Reference Price FDI (BITH11) with $57.8 million in AUM as of November 21, or a market share of about 60%. As comparison, the largest ETF in the nation, iShares Ibovespa Index (BOVA11), has $2.41 billion in AUM and the second largest, the iShares BM&FBOVESPA Small Cap (SMAL11), has $1.19 billion in AUM. For reference, the largest U.S. ETF, the SPDR S&P 500, has roughly $430 billion in AUM. Source