First US Bitcoin ETF A Bottom 10 Performer On Two-Month Returns

December of 2021 wasn’t kind to crypto, and it shows on the derivative markets. ProShares Bitcoin Strategy ETF – the first Bitcoin ETF to arrive in the United States – is now one of history's worst-performing issuers two months after listing. This is despite a euphoric start, during which the fund was the NYSE’s second most excellent opening-day performer of all time. Bullish Opening, Bearish Aftermath As reported by Bloomberg, BITO ranked as a top ten worst performing issuer when…

SEC Chairman Reaffirms Support for Futures-Backed Bitcoin ETFs

Cryptocurrency investors continue to push for approval for exchange-traded funds (ETFs). The battle has been raging on for years, but there are positive signs of progress. The latest sign came from Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC) Slow and Steady for the SEC Earlier this week, Gensler prepared comments for a Financial Times conference. In his remarks, the SEC chairman said he would support futures-backed Bitcoin ETFs. These ETFs have backing from Bitcoin futures instead…

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…

VanEck Files for Ethereum ETF as its Bitcoin ETF Proposal is on Hold

VanEck Associates Corp. seeks approval from the U.S. Securities and Exchange Commission (SEC) to establish an exchange-traded fund called "VanEck Ethereum Trust." If VanEck's proposal is approved, the VanEck Ethereum Trust will allow retail and institutional traders to gain exposure to the world's second-largest cryptocurrency by market cap without requiring them to invest in it directly. It could also value its shares daily based on the MVIS CryptoCompare Ethereum benchmark rate. This would be the first U.S.'s ether ETF, but…

Canada’s Ninepoint Completes $180 Million IPO of Bitcoin Fund

The Canadian asset management firm, Ninepoint Partners, has recently raised a total of $180 million from investors in an Initial Public Offering (IPO) for its Bitcoin Trust Fund. In an official press release published Wednesday, the firm revealed that it had received regulatory approval earlier this month and has officially listed its shares for the Fund on the Toronto Stock Exchange. More Exposure The Fund was created to help investors gain exposure to the world of cryptocurrencies, bitcoin precisely, without…

ETFs 101: Could They Change the Entire Scope of Crypto Investments?

Predicting the price of cryptocurrencies is challenging, thanks to their volatile nature. Consider bitcoin's volatility, which has seen the coin fluctuate between $3,000 - $20,000 over the last three years. The uncertainty and volatility are perhaps significant reasons why investors shy away from digital assets. Given that there is a growing increase in digital assets investments, finding a solution is vital. Exchange-Traded Fund (EFTs) come in at this point and could be instrumental in crypto investing.  So, could ETFs revolutionize…

Grayscale Bitcoin Trust Gets SEC’s Nod to be Its Reporting Company

In an unprecedented move,  The United States SEC has today January 21, 2020, approved an application by Grayscale Bitcoin Trust to be its reporting firm. The move comes after the firm's parent company, Grayscale Investments, filed for its subsidiary's registration with the SEC two months ago.  This action effectively makes Grayscale Trust the pioneering crypto investment entity conferred with that honor. Taking  to Twitter to confirm this news, the firm announced, " Grayscale Bitcoin Trust hits yet another incredible milestone:…

Pioneer ETF Focused on Blockchain to Operate in China

An exchange-traded fund (ETF) recently sent an application to the China Securities Regulatory Commission. Penghua fund filed for the ETF proposal on the 24th of December, intending to monitor publicly listed stock performance from blockchain business. The fund’s approval would make it the pioneer ETF targeted on blockchain in China. The news was highlighted on the 26th of December by SSJ, a Chinese government journal. Many Blockchain Industries Get Listed on Blockchain 50 Index The Shenzhen Stock Exchange also announced…