What Is A Bitcoin ETF?

On October 19th, 2021, the first Bitcoin US Bitcoin ETF launched on the New York Stock Exchange. This was a long-awaited event for the crypto community, which viewed it as a significant milestone for the industry. The debut was hyper-successful, too. Within just a day, the ETF generated over $800 million in trading volume. It was the second most lucrative stock market debut ever on the NYSE, behind Black Rock’s carbon fund. Why the enthusiasm? What is a Bitcoin ETF,…

Canada Gets Bitcoin and Ethereum Carbon Neutral ETFs

While the SEC hesitates to approve anything beyond a Bitcoin Futures ETF, Canada has moved leagues ahead on crypto acceptance. Yesterday, Purpose Investments launched another pair of series for its Bitcoin and Ethereum ETFs in the country. Notably, these variants have a structure that specifically help their cryptocurrencies achieve net-zero carbon output. Green Bitcoin and Ethereum ETFs Purpose Investments announced their new exchange products in a press release on Tuesday in partnership with Technologies. Their carbon-neutral series of Bitcoin and…

Australia Greenlights Bitcoin and Ether ETFs; Others Likely To Follow

The Australian Securities and Investments Commission (ASIC) just released new guidelines on establishing crypto ETPs in the country. Alongside numerous regulatory requirements, the commission is tentatively permitting Bitcoin and Ethereum backed spot ETFs to launch. Incredibly, they are also willing to evaluate other cryptocurrency's suitability as underlying assets for such products. Australia's Approach to Crypto ETFs ASIC revealed its openness to digital asset ETFs in response to the crypto industry earlier today. This was a follow-up to the commission's consultation paper…

The First Bitcoin ETF Is Already in Danger. Here’s Why

The first US Bitcoin ETF – The ProShares Bitcoin Strategy ETF – may prove itself popular beyond sustainability. The fund is already approaching its limit on futures contracts holdings, as enforced by the Chicago Mercantile Exchange (CME). Bitcoin ETF: Too Popular to Handle? Last week, data from Bloomberg indicated that ProShares' Bitcoin ETF was holding 1900 futures contracts dated for October. This was only 100 short of the 2000 futures contract limit that the CME imposed during an ETF's first…

Grayscale Files to Turn Its Bitcoin Fund Into A Spot ETF

Grayscale – the world’s largest Bitcoin fund – recently filed to turn their company into a Bitcoin spot ETF. This comes shortly after ProShares’ Bitcoin Futures ETF began trading on the New York Stock Exchange (NYSE) earlier today. If approved, Grayscale’s fund would become the first Bitcoin Spot ETF in the United States. Will the SEC Approve? As reported by Bloomberg, Grayscale’s filing would flip its $40 billion Bitcoin Trust (ticker GBTC) into an ETF. Michael Sonnhenshein, CEO of Grayscale,…

A Bitcoin ETF Has Arrived In The United States

Following years of delay and debate, the SEC has finally greenlit a Bitcoin Exchange Traded Fund for the United States. On Tuesday morning, the ProShares Bitcoin Futures ETF should begin trading on the New York Stock Exchange (NYSE). Also, many expect the fund to give typical consumers and major institutions both compliant and convenient exposure to Bitcoin. The ProShares Bitcoin Strategy ETF ProShares announced its upcoming launch this morning in a press release, confirming rumors circulating since Friday. On October…

Bitcoin Lending Platform BlockFi Files for Bitcoin ETF

BlockFi– a leading cryptocurrency lending institution– has recently filed for a Bitcoin Futures ETF with the SEC. Their request comes amidst growing excitement that the US could approve a Bitcoin ETF by the end of October. Blockfi’s Bitcoin Strategy ETF BlockFi’s proposed ETF would be listed on the Cboe BZX exchange, according to the company’s filing today. It seeks to purchase cash-settled Bitcoin futures contracts on the CME to accumulate capital. It would also invest in short-term fixed-income securities, alongside…

SEC Delays Bitcoin ETF Approvals Once Again

The Securities and Exchange Commission still shows no urgency to approve a Bitcoin ETF. They have extended their review of four proposed crypto funds by well over a month, citing the need for further review. Hesitancy on a Bitcoin ETF According to a filing from the SEC this week, the affected funds include the following. The Global X Bitcoin Trust, The Kryptoin Bitcoin ETF The Wisdomtree Bitcoin Trust The Valkyrie XBTO Bitcoin Futures Fund. Global X approval has been delayed…

Executives Claim Direct Exposure to Crypto Might be Better than ETFs

According to a panel hosted by Morningstar, Executives said direct exposure to crypto might outdo exchange-traded funds (ETFs). An ETF could provide more security to investors. However, the executives said that it would not help them with immediate financial needs. Executives alleged that financial advisers better exchange-traded funds in the industry. Last week, they said at a panel that Bitcoin ETFs might be more valuable to only financial advisers and their clients. Cryptocurrencies Compared to ETFs Tyrone Ross, chief executive of Onramp…

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