On Dec. 25, BitMEX Research published a complete list of cryptocurrency-related exchange-traded products (ETPs) It reported that there were 150 crypto-related ETPs across the world with $50.3 billion in assets under management. The firm noted that it could be useful in “determining the extent to which the spot Bitcoin ETF cannibalizes existing ETPs or attracts...Read More
The amendments for spot Bitcoin ETF applications continue, with BlackRock naming Jane Street Capital and JPMorgan Securities as the authorized participants for its own exchange-traded fund, should it receive the green light from the US SEC. What’s particularly interesting is the involvement of JPM, whose CEO just recently urged the US government to close down...Read More
As Bitcoin struggles to break the $44,000 threshold, miners are showing signs of impatience, leading to a significant reduction in their reserves. Despite this, our analysis suggests that the continuous selling might not affect Bitcoin’s price due to the bullish sentiment surrounding the upcoming ETF decision. This sentiment is supported by several applicants who are...Read More
ARK Invest – the institutional asset management firm led by Cathie Wood – made a significant move by liquidating all of its remaining holdings in the Grayscale Bitcoin Trust (GBTC), totaling $200 million. In the previous month, GBTC stood as the largest holding in ARK’s Next Generation Internet ETF. However, the asset management firm has...Read More
Grayscale has submitted a modified S-3 filing for the conversion of its GBTC into a spot Bitcoin ETF on the same day of its surprising leadership shuffle. The asset manager reportedly reached a compromise by agreeing to adhere to the US Securities and Exchange Commission’s (SEC) stipulation for cash-only creation and redemption. Grayscale’s Compromise Stirs...Read More
In a surprising turn of events, Barry Silbert, the founder and CEO of Digital Currency Group (DCG) – the parent company of Grayscale – has resigned from the asset manager’s board of directors. Silbert, a key figure in the cryptocurrency industry, has played a crucial role in shaping the growth of Grayscale Investments. His departure...Read More
Arthur Hayes, the founder of the BitMEX crypto exchange, believes the success of the much anticipated Bitcoin exchange-traded funds (ETFs) will “completely destroy” the leading digital network. In a recent blog post titled “Expression,” Hayes opined that Bitcoin could die if all the BTC in circulation end up in the hands of traditional finance asset...Read More
A U.S. circuit court in Washington D.C. has ordered the Securities and Exchange Commission to revisit its rejection of a Bitcoin ETF application by crypto hedge fund Grayscale. But that doesn’t mean the SEC won’t find new reasons to reject it or any of the dozen other applications. SEC Rejection or Delay Could Tank Bitcoin...Read More
In a significant development in the cryptocurrency market, Hashdex, a prominent player in the Bitcoin ETF sector, has updated its application strategy, now choosing BitGo as its custodian. This move comes amid a broader shift influenced by recent guidelines from the U.S. Securities and Exchange Commission (SEC) regarding the structure of Bitcoin ETFs. Hashdex’s Strategic...Read More
With Bitcoin (BTC) spot ETFs seemingly just weeks away, some crypto investors are curious whether asset managers like BlackRock can “front run” their approvals using insider knowledge before their highly anticipated funds reach the market. In an X space on Friday, Bloomberg ETF analyst James Seyffart cleared the air on what BlackRock can and cannot...Read More
Research conducted by Matrixport anticipates that the price of Bitcoin will surpass the $50,000 threshold in January 2024, provided that the approval of spot Bitcoin ETFs by the U.S. SEC becomes a reality. The firm predicts a 95% probability of spot Bitcoin ETF approval in January 2024. Matrixport Sees Bitcoin at $50K Matrixport’s research highlights...Read More
Michael Sonnenshein, the CEO of leading asset management firm Grayscale Investments, believes the approval of spot Bitcoin exchange-traded funds (ETFs) could allow the crypto market to enjoy an inflow of $30 trillion in advised wealth. During an interview with CNBC’s Squawk Box, Sonnenshein said there is a lot of market optimism for Bitcoin (BTC) next...Read More
All eyes are on the launch of a spot Bitcoin ETF, with the announcement expected to be just under three weeks from now. This was according to QCP Capital’s observation which said that an approval could arrive either at the market close on January 5th or sometime between January 8th and 10th in 2024. Every...Read More
In the bustling world of cryptocurrency, the U.S. market is abuzz with expectations of Bitcoin turning bullish in 2024. Central to this optimism is the anticipation of spot Bitcoin ETF approvals by January 2024. However, Anthony Pompliano, a renowned figure in the crypto industry, recently presented a differing viewpoint, sparking discussions among enthusiasts and investors....Read More
Michael Saylor, a renowned Bitcoin advocate, has declared the potential approval of a spot BTC exchange-traded fund (ETF) as possibly the most significant development on Wall Street in the last three decades. Speaking with Bloomberg on December 19, Saylor compared this event to the historic creation of the S&P 500 ETF, highlighting its transformative potential...Read More
In a recent Bloomberg interview, Michael Saylor, Co-Founder and Executive Chair of MicroStrategy, shared his bullish outlook for Bitcoin in 2024, hinging significantly on the advent of spot Bitcoin ETFs. Saylor emphasized the historical significance of this development, calling it the “biggest development on Wall Street in 30 years,” paralleling the invention of the S&P...Read More
BlackRock has re-updated its Bitcoin (BTC) spot ETF filing with changes making key concessions to federal regulators on how shares in its fund will track the price of Bitcoin. Submitted on Monday, the asset manager’s latest S-1 form reveals that new shares in the trust can only be created using cash – a model experts...Read More
7RCC Global, an asset management firm focused on environmental, social, and governance (ESG) investing, has joined the race for a Bitcoin spot exchange-traded fund (ETF) in the United States. According to a Form S-1 filing with the U.S. Securities and Exchange Commission (SEC), the 7RCC Spot Bitcoin and Carbon Credit Futures ETF will provide ESG...Read More
Jan van Eck – the CEO of VanEck – one of the first global financial companies to file for a spot Bitcoin ETF years ago – believes BTC is a unique asset that will be extremely hard to duplicate or outdo. He also refuted the speculations that the asset is one big bubble and said...Read More
This season appears to be one for cryptocurrency exchange-traded funds (ETFs) as multiple traditional finance companies seek regulatory approval to introduce more to the market. First Trust is the latest asset management firm that wants to create another Bitcoin ETF. However, the company is not looking to launch a spot product like others but a...Read More
After consistently denying approval for a spot Bitcoin ETF for American investors over the years, there are indications that SEC chair Gary Gensler might be reconsidering his position in light of Grayscale’s legal triumph. While he has not explicitly acknowledged any change in stance, he admitted taking a new look at the approval process of...Read More
On Dec. 14, Bitcoin pioneer Nic Carter asked the burning question. Almost everyone assumes that we’re due for a 2017/18 or 2021/22-esque bull run, he said. “I’ll be the guy to ask why. Do you have any basis for this or have you trained a model on 2 data points?” he asked. The question is...Read More
It’s nearly guaranteed that regulators will force Bitcoin (BTC) ETF applicants to adopt a “cash-create” model before launching their highly anticipated investment products, according to Bloomberg ETF analyst Eric Balchunas. The decision, if true, would have major implications for the cost of managing each fund – and by extension, the fees passed down to customers....Read More
Bitwise Asset Management has joined the list of companies aiming for a spot Bitcoin (BTC) Exchange Traded Fund (ETF) approval in the United States. The firm’s ETF has been officially listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker BITB, signaling a growing optimism within the sector. Bitwise Optimistic Following Listing Bitwise’s...Read More
The crypto industry is at an unprecedented inflection point, which could serve as a “generational investment opportunity” that will be fleeting as more institutions enter the space and network effects lead to exponential growth, according to new research. Digital asset manager Hashdex, which is currently eyeing a spot Bitcoin ETF approval, believes prospects for such...Read More
Investment management firm VanEck has unveiled its 2024 predictions, forecasting not only record-breaking highs for Bitcoin but also an anticipated peak in the NFT market, signaling a significant transformation in the industry. The introduction of spot Bitcoin ETFs is expected to align with the prolonged anticipation of a U.S. recession, while the forthcoming halving event...Read More
Conversations about launching spot Bitcoin exchange-traded funds (ETFs) in the United States have moved to advanced stages, Reuters reported Thursday, citing unnamed sources. According to the report, the U.S. Securities and Exchange Commission (SEC) has begun to ask potential spot Bitcoin ETF issuers detailed and technical questions about the products, a move the sources said indicated...Read More
VanEck has recently made its fifth amendment to the S-1 Form with the U.S. Securities and Exchange Commission (SEC), showcasing its persistent efforts in the cryptocurrency sector. This amendment, filed on December 8, outlines updates to the VanEck Bitcoin Trust, a spot Bitcoin Exchange-Traded Fund (ETF). The ETF is expected to be listed under the...Read More
Anticipation of ETFs has driven the largest surge in inflows into digital asset investment products since late 2021, reaching $1.7 billion over nine consecutive weeks. Bitcoin attracted over $1 billion in inflows last month, totaling $1.6 billion year-to-date. Following the footsteps of the world’s largest altcoin, Ethereum, too, recorded inflows of $126 million, marking a...Read More
BlackRock – the world’s largest asset manager – announced securing $100,000 in seed funding from an undisclosed investor for its latest spot Bitcoin ETF proposal. This revelation comes from the giant’s recent filing with the United States Securities and Exchange Commission (SEC). The development comes on the heels of the company filing an amended S-1...Read More
