Tag: ETFs

VanEck Suspends Russia ETFs Due to Prolonged Inactivity after Russia’s Invasion of Ukraine

Investment firm VanEck recently suspended two Russia ETFs as Western sanctions bite hard on profitability. New York-based asset manager VanEck is liquidating its Russia exchange-traded funds (ETFs) following a lack of Western investment interest. According to VanEck, since the Russian-Ukraine strife began, US investment in Russia has effectively dried up. The Russian market has taken a hit since the country invaded neighboring Ukraine, with Moscow’s stock market closing temporarily. Furthermore, the ongoing Western sanctions against Russia essentially prohibit its major stocks, including Gazprom, from trading in the West. This unsavory…

Two crypto-related ETFs were the worst-performing in Australia for 2022

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Cryptocurrency-related exchange-traded funds (ETFs) have taken the two top spots for the worst-performing ETFs in Australia for the year, with the same story playing out in the United States. BetaShares Crypto Innovators ETF (CRYP) and Cosmos Global Digital Miners Access ETF (DIGA) have provided investors Down Under with respective negative returns of nearly 82% and 72% year to date (YTD) throughDec. 30. BetaShares launched its ETF on the Australian Securities Exchange (ASX) in October 2021, mere weeks before most cryptocurrencies hit all-time highs that they’re yet to regain. CRYP was…

Crypto Futures ETFs Raise More Than $73 Million Ahead of Hong Kong Launch – Bitcoin News

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Hong Kong’s first crypto-based exchange-traded funds (ETFs) have attracted over $73 million ahead of their debut on the region’s stock exchange. The launch of the two ETFs tracking cryptocurrency futures listed in the United States comes despite the industry’s current troubles. Hong Kong Debuts Bitcoin and Ether Futures ETFs Amid Crypto Winter Two ETFs tracking crypto futures raised a total of $73.6 million ahead of their debut on the stock exchange in Hong Kong on Friday, with the larger one raising $53.9 million, according to Reuters. The news agency noted…

CSOP’s Bitcoin and Ether ETFs Begin Trading on Hong Kong Stock Exchange (HKEX)

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CSOP Asset Management’s Bitcoin and Ether ETFs has started trading on on the HKEX. For the first time ever, the Hong Kong Stock Exchange has listed Bitcoin and Ether futures exchange-traded funds (ETFs) issued by CSOP Asset Management. They are the CSOP Bitcoin Futures ETF and CSOP Ether Futures ETF. According to a Thursday announcement by the ETF issuer, the ETFs will track Bitcoin and Ether futures already listed on the Chicago Mercantile Exchange (CME), albeit respectively. Bitcoin and Ether ETFs Meanwhile, the global head of equity and FX products…

Bitcoin ETFs, strict licensing and a digital dollar

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In October, Toronto-based Coinsquare became the first crypto trading business to get dealer registration from the Investment Industry Regulatory Organization of Canada (IIROC). That means a lot as now Coinsquare investors’ funds enjoy the security of the Canadian Investment Protection Fund in the event of insolvency, while the exchange is required to report its financial standing regularly.  This news reminds us about the peculiarities of Canadian regulation of crypto. While the country still holds a rather tight process of licensing the virtual asset providers, it outpaces the neighboring United States…

Here’s how bitcoin futures ETFs performed in a dramatic week for crypto

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ETFs closely tied to the price of bitcoin served investors reasonably well as crypto proxies during a volatile week, even as losses for long-term holders continue to build. The ProShares Bitcoin Strategy ETF (BITO) and Short Bitcoin Strategy ETF (BITI) both saw their largest daily trading volumes on record last week. Smaller funds from Valkyrie and VanEck also saw spikes in volume. All four funds saw slightly larger moves than the roughly 21% decline in spot bitcoin over the course of the week. “It is the proof point of getting…

Three crypto ETFs to be delisted in Australia as crypto winter continues

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The companies behind the Cosmos Purpose Ethereum Access ETF, Cosmos Purpose Bitcoin Access ETF, and Cosmos Global Digital Miners Access ETF filed a request to revoke their quotations on Cboe Australia, according to letters disclosed on Nov. 2.  The decision to revoke the quotes reflects the crypto winter’s impact on demand for crypto assets, not the management teams’ belief in the space’s future, according to reports. Each of the three funds has a net asset value under $1 million. On Oct. 31, Cosmos had requested that trading of its Bitcoin and…

Hong Kong financial regulator issues guidelines for crypto futures ETFs

The Securities and Futures Commission of Hong Kong has set up requirements for entities considering a public offering of an exchange-traded fund (ETF) tied to cryptocurrency futures. In an Oct. 31 circular, the SFC said that in addition to previously imposed requirements on unit trusts and mutual funds for authorization of a crypto futures ETF, management companies in Hong Kong would need to “have a good track record of regulatory compliance” as well as three years of experience managing ETFs, with consideration for similar investment vehicles. The financial regulator hinted it…