Tag: ETFs

A conversation about spot Bitcoin ETFs and decentralized ETFs

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As expectations grow that a spot Bitcoin exchange-traded fund (ETF) will be approved in the United States, it remains one of the hottest topics heading into 2024. In Episode 38 of Cointelegraph’s Hashing It Out, Elisha Owusu Akyaw talks to Joel Kuck, CEO of Decentralized ETF (D-ETF), about how ETFs work, the potential impact of spot Bitcoin (BTC) ETFs on the cryptocurrency industry and the idea of decentralized ETFs. Amid the optimism that U.S. regulators are set to greenlight multiple spot BTC ETFs, some projects are also looking to bring…

Is Binance’s $4B settlement the green light for spot Bitcoin ETFs?

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Binance’s $4.3 billion settlement with the United States was the final hurdle before the country’s securities regulator approves spot Bitcoin exchange-traded funds (ETFs), many industry watchers claim. The settlement involved Binance agreeing to Justice Department and Treasury compliance monitors for up to five years, allowing the agencies sweeping powers to keep the exchange in line with Anti-Money Laundering and sanctions rules, among other things. The Securities and Exchange Commission has cited market manipulation when denying spot Bitcoin ETFs and Binance’s market dominance had to take a hit before BlackRock’s spot…

SEC Commissioner on spot Bitcoin ETFs: “No reason to block”

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SEC’s Hester Peirce supports spot Bitcoin ETF and hopes for less litigation in establishing crypto regulation. In the latest interview with Bloomberg, Commissioner of the U.S. Securities and Exchange Commission (SEC), Hester Peirce, hinted at support and approval for a spot Bitcoin ETF. Peirce said the SEC has no reason to stand in the way of a Bitcoin ETF, with the commissioner adding that her stance on this matter has been the same for years.  Peirce confirmed that every application is being judged on its own specific set of facts…

Are Bitcoin ETFs good for adoption or ‘watered-down crypto’? Debate rages

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CoinList founder Andy Bromberg believes that spot Bitcoin (BTC) exchange-traded funds (ETFs) are just “watered down crypto” and a sign the industry is heading in the wrong direction, amid growing hype over potential ETF approvals in the United States. Bromberg — also CEO of payments-focused wallet app Beam — told Cointelegraph: “If a Bitcoin ETF is considered crypto, we’ve failed as an industry.” He said a Bitcoin ETF would “absolutely” be a net positive for crypto adoption but asserted the space’s success comes from helping people self-custody assets and decouple…

CoinShares Predicts $141,000 Bitcoin Price, Forecasts $14.4 Billion Inflows From ETFs

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In a recently published report by CoinShares, analyst James Butterfill delves into the relationship between inflows into Bitcoin exchange-traded funds (ETFs) and changes in the Bitcoin price.  The report addresses the critical question of how much inflow into ETFs could be anticipated upon launching a Bitcoin spot ETF in the US and the potential impact of these flows on the Bitcoin Price. Bitcoin ETFs Could Attract $14.4 Billion Inflows Butterfill highlights Galaxy’s analysis, which estimates that the United States has approximately $14.4 trillion in addressable assets. Assuming a conservative scenario…

CoinShares Secures Buying Rights to Valkyrie’s Crypto ETFs

This acquisition will prepare CoinShares to position itself in the US markets ahead of the upcoming launch of spot Bitcoin ETFs. Europe-based crypto asset management firm CoinShares has obtained an exclusive option to acquire the ETF unit of Valkyrie Investments. This will help CoinShares strategically position itself in the US market amid expectations of the Securities and Exchange Commission approving a spot bitcoin ETF. The option, valid until March 31, offers CoinShares the opportunity for the acquisition, with specific financial details undisclosed. Currently, Europe offers spot crypto exchange-traded products, but…

First deadline window looms for SEC to approve Bitcoin ETFs: Law Decoded

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The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, including Grayscale Investments conversion of its Grayscale Bitcoin Trust product. However, even if the SEC approves spot Bitcoin (BTC) ETFs by Nov. 17, it could be more than a month before the products launch. The expected delay in launch following SEC approval would be due to the two-step process of…

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