Public interest continues to grow about the metaverse, but not as much in metaverse ETFs. Does crypto belong in everything? Source
First Mover Asia: Metaverse ETFs Are Underperforming Gaming ETFs; Cryptos Return to the Red
Tag: ETFs
Aussie crypto ETFs see $1.3M volume so far on difficult launch day
With crypto markets tanking, three crypto-focused exchange-traded funds (ETFs) picked a difficult day to commence trading on local exchange Cboe Australia today. The trio’s launch marks the first crypto ETFs to go live in Australia, with two of them focused on offering exposure to Bitcoin (BTC) and the other focused on Ethereum (ETH). So far the three ETFs have generated more than $1.3 million between them, and it has been estimated that they could see around $1 billion worth of inflows moving forward. The Cosmos Purpose Bitcoin Access ETF (CBTC)…
Three new crypto ETFs to begin trading in Australia this week
Australians will soon have more options for spot cryptocurrency exchange-traded funds (ETFs) after a previous hold-up was given the green light this week and new funds entered the ETF market. The latest update came late on May 9 as Cboe Australia issued a round of market notices that three funds previously delayed are expected to begin trading on Thursday, May 12. They include a Bitcoin ETF from Cosmos Asset Management, plus Bitcoin (BTC) and Ethereum (ETH) spot ETFs from 21Shares. Cboe Australia and Cosmos did not immediately respond to a…
CI Global Asset Management Partners with Galaxy Digital, Launching Blockchain and Metaverse ETFs
CI Global Asset Management (“CI GAM”), a major Canadian asset management firm, has partnered with Galaxy Digital to launch ETFs focused on blockchain technology and Metaverse. The two ETFs, named CI Galaxy Blockchain ETF and CI Galaxy Metaverse ETF, are officially traded on the Toronto Stock Exchange (“TSX”) under the ticker symbols CBCX and CMVX, respectively. The ETF will charge users an annual management fee of 0.50%. Roy Ratnavel, executive vice president at CI GAM, said that through CBCX and CMVX, the company’s capabilities in cryptocurrencies and thematic ETFs would…
Australia’s first 3 crypto ETFs all miss launch day
The launch of Australia’s first three Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETF) scheduled for today, has been delayed as a result of further “checks” needing to be completed. The exchange listing the Bitcoin Spot ETF from Cosmos Asset Management, Cboe Australia, released a statement late Tuesday stating that “standard checks prior to the commencement of trading are still being completed” and a “further update will be provided in the coming days.” Cboe issued the same notice regarding two spot ETFs issued by 21Shares also scheduled for launch today,…
Spot Bitcoin ETFs Are Launching in Australia but Elsewhere They Face Brutal Fund Outflows
Just a day after bitcoin soared past $40,500 on news of financial giant Fidelity’s decision to allow consumers to invest in bitcoin in their 401(k) retirement savings accounts, the largest cryptocurrency by market capitalization was trading just over $38,000, its lowest mark since early March. Ether, the second-largest crypto by market cap, was changing hands at about $2,820, off roughly 5.7%, following a day when it pushed past $3,000. Original
SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale – Regulation Bitcoin News
Grayscale Investments’ CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is ‘a Matter of When and Not If’ The U.S. Securities and Exchange Commission (SEC) has now approved not one but two different structures of bitcoin futures exchange-traded funds (ETFs). This has led to the optimism in the crypto industry that the securities watchdog is closer to approving a spot bitcoin ETF. The first structure utilizes the…
Fidelity Investments Launches Crypto, Metaverse ETFs — Says ‘We Continue to See Demand’ – Finance Bitcoin News
Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. “We continue to see demand, particularly from young investors, for access to the rapidly growing industries,” said Fidelity. Fidelity Sees Demand for Crypto, Metaverse Investments Fidelity Investments announced the launch of a couple of exchange-traded funds (ETFs) this week to offer investors exposure to the crypto industry and the metaverse. The first is called “Fidelity Crypto Industry and Digital Payments ETF…
Bitcoin spot vs. futures ETFs: Key differences explained
The Bitcoin spot ETF does not yet exist, with crypto companies proposing various concepts to the Securities and Exchange Commission (SEC) over the years. However, a few companies have legitimized the Bitcoin futures ETF. Crypto companies have fought to legitimize a Bitcoin spot ETF in the United States for years, but the SEC has yet to give in despite its recent two allegedly “crypto-positive” chairmen. For instance, Jay Clayton, who was head of the SEC from May 4, 2017, to December 23, 2020, is a fan of Bitcoin as a…
Fidelity to Offer Exposure to Metaverse, Digital Payments With New ETFs
“We continue to see demand, particularly from young investors, for access to the rapidly growing industries in the digital ecosystem, and these two thematic ETFs offer investors exposure in a familiar investment vehicle,” Greg Friedman, Fidelity’s head of ETF management and strategy, said in the statement. Source