Tag: ETFs

ARK Invest and 21Shares join forces for crypto ETFs

ARK Invest and 21Shares have jointly applied for two futures exchange-traded fund (ETF) products involving ether (ETH) and bitcoin (BTC).  The applications lodged with the Securities and Exchange Commission (SEC) by Empowered Funds, the investment advisor for the products, on Aug. 24 detail two ETFs: the ARK 21Shares Active Ethereum Futures ETF (ARKZ) the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY). Unlike direct investment in digital assets or spot products, these ETFs will focus on cash-settled futures contracts traded on registered commodity exchanges like the Chicago Mercantile Exchange (CME).…

Ether Futures ETFs could all get approval at same time: Report

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The United States Securities and Exchange Commission (SEC) is likely to approve multiple applications for Ether futures exchange-traded funds (ETFs) at the same time, the Wall Street Journal reported, citing sources familiar with the matter.  Since July, the regulator has been flooded with applications from several investment firms, including requests combining futures Bitcoin (BTC) and Ether strategies. As of now, the SEC has not instructed the firms to withdraw their applications, a change from 2021 when firms were instructed to withdraw similar applications. This suggests that the regulator won’t block…

Bitcoin price will surge past $150K if spot ETFs are approved: Analyst

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The price of Bitcoin (BTC) will surge past an eye-watering $150,000 by the end of 2024, as long as the current slew of United States spot-Bitcoin exchange-traded funds (ETFs) are approved, according to investment research boutique Fundstrat. In an Aug. 16 interview on CNBC’s Squawk Box, Fundstrat’s managing partner and head of research, Tom Lee, predicted that a bundle of successful Bitcoin spot ETF applications would shift Bitcoin’s supply-demand dynamics towards considerable price appreciation. When asked what the price of Bitcoin could be by the end of next year, Lee didn’t…

Bernstein Predicts Spot ETFs Could Claim 10% Of Bitcoin Market If Greenlit

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According to Bloomberg, a recent research report from Sanford C. Bernstein has shed light on the potential impact of Exchange Traded Funds (ETFs) on the Bitcoin market dynamics. Potential Surge In Bitcoin Market Value Sanford C. Bernstein’s research indicates that should the US green-light a fund investing directly in spot Bitcoin, ETFs could constitute roughly 10% of Bitcoin’s market value within the next three years. Such a shift could amplify Bitcoin’s presence in traditional financial portfolios and potentially foster more significant institutional adoption. According to Bloomberg, Gautam Chhugani, an analyst…

U.S. Securities and Exchanges Commission (SEC) Opens Potential Bitcoin Spot ETFs to Public Opinion

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The U.S. Securities and Exchange Commission (SEC) is opening up the potential creation of ARK Invest’s spot market Bitcoin (BTC) exchange-traded funds (ETFs) to public opinion. In a new document, the regulatory agency is asking the public to submit their “written data, views, and arguments” on a proposed rule change that would allow the Chicago Board Options Exchange (CBOE) to list and trade shares of the ARK 21 Shares Bitcoin ETF. “The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Act97 to determine whether the proposed rule change,…

SEC decision on Bitcoin ETFs won’t leave out Wall Street giants

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The Securities and Exchange Commission’s (SEC) delay in deciding whether to approve a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States is fueling expectations that a final verdict will come in a batch that includes key players on Wall Street, including BlackRock and Fidelity.  “There’s a tremendous amount of pressure on the SEC to approve a number of these ETFs, particularly because the approved Futures backed products are lagging spot performance substantially, harming investors,” markets veteran and co-founder of CoinRoutes Dave Weisberger told Cointelegraph, adding that all pending…

Bitcoin ETFs to push US slice of crypto ETF trading volume to 99.5% — Analyst

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The United States could make up for 99.5% of the global trading volume for crypto-related exchange-traded funds — but only if spot Bitcoin ETFs are approved, according to a Bloomberg ETF analyst. Currently, North America accounts for 97.7% of all crypto ETF trading volume, Bloomberg senior ETF analyst Eric Balchunas revealed in an Aug. 10 X (Twitter) post. “If/when spot ETFs come out in the U.S. this will likely go to like 99.5%,” he speculated. Global crypto ETF trading volume: Source: Eric Balchunas on X (Twitter) There is currently a…

ARK Invest’s CEO Says SEC Could Approve Multiple Spot Bitcoin ETFs Simultaneously

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ARK Invest CEO Cathie Wood has sparked speculation with her recent prediction that the United States Securities and Exchange Commission (SEC) may potentially grant approval for multiple Spot Bitcoin exchange-traded funds (ETFs) simultaneously. Deviation From The Norm For Spot Bitcoin ETFs In a recent interview with Bloomberg on August 7, Cathie Wood shared her insight that the SEC might opt for a groundbreaking strategy by approving more than one Bitcoin ETF at the same time. Wood’s assertion, “I think the SEC, if it’s going to approve a Bitcoin ETF, will…