Almost $10 billion has been traded in spot Bitcoin ETFs in the first three days since they launched last week. On Jan. 17, Bloomberg ETF analyst James Seyffart posted the updated figures revealing $9.7 billion in volume. Moreover, Grayscale has the lion’s share of this, with 52% or $5.1 billion in trade volume. Update on...Read More
The first batch of ETF approvals came in last week. In the aftermath, Synapse Network co-founder Paweł Łaskarzewski has shed light on BlackRock’s moves that have captured the crypto community. Within a mere 2 days, the prominent investment giant withdrew a massive 11,500 BTC from the supply. In the latest post on X (formerly Twitter), Łaskarzewski...Read More
Digital asset investment products experienced a $1.18 billion increase in inflows last week, according to CoinShares. This figure, however, did not surpass the previous high set in October 2021 when futures-based Bitcoin ETFs garnered a total of $1.5 billion. The latest edition of “Digital Asset Fund Flows Weekly Report” further revealed that the trading volumes...Read More
Asset management giant Vanguard’s decision to block clients’ access to the just-approved spot Bitcoin exchange-traded funds (ETFs) has elicited unpleasant reactions from the crypto community. According to several posts on the social media platform X, community members believe Vanguard’s days are numbered as the asset manager’s clients exit their accounts in droves. Numbered Days Following...Read More
As Bitcoin experiences over a 7% decline to $41,600 since the debut of spot ETFs in the U.S. on Thursday, analysts at 10x Research caution that a classic “sell the fact” price action might be underway. The report, led by Markus Thielen, has issued a cautionary note, suggesting that the sell-off might persist in the...Read More
Earlier this week, a long wait for the launch of a spot Bitcoin exchange-traded fund (ETF) in the United States ended after the Securities and Exchange Commission (SEC) approved 11 products for listing and trading on several national exchanges. The journey began ten years ago, and there are industry participants who laid the foundation for...Read More
The US Securities and Exchange Commission finally greenlighted a spot Bitcoin ETF earlier this week, although in a slightly reluctant fashion. Now, speculations are starting to arise on when the agency will do the same in terms of an exchange-traded fund tracking the performance of the second-largest cryptocurrency. When ETH ETF? 2023 will go down...Read More
Grayscale Investments, a key player in the cryptocurrency market, is preparing to move into new territory following the latest U.S. approval of spot Bitcoin ETFs with the Securities and Exchange Commission. In an exclusive interview with Wall Street Journal, Grayscale’s Chief Financial Officer, Ed McGee, sheds light on the financial implications and strategic changes the...Read More
The chairman of the Securities and Exchange Commission (SEC) has doubled down on his criticisms of Bitcoin (BTC) despite approving a slew of exchange-traded funds for the asset earlier this week. During an interview with CNBC on Friday, the chairman argued that Bitcoin boasts few use cases aside from illicit activity, and has ironically trended...Read More
After a challenging decade of attempts, the US Securities and Exchange Commission (SEC) finally approved spot Bitcoin ETFs. These products enable retail customers and traditional financial institutions to access Bitcoin’s price through standard brokerage apps without relying on crypto exchanges. This excitement is being reflected in the prices of altcoins as data indicates a notable...Read More
CoinShares announced that it has exercised the option to acquire Valkyrie Funds LLC, the investment advisory arm of the US digital asset manager Valkyrie Investments Inc., which focuses on actively managed cryptocurrency exchange-traded funds. The European investment company stated that the decision to exercise the option is a direct response to the US Securities and...Read More
All told, there were 700,000 individual trades today in and out of the 11 recently approved spot Bitcoin ETFs, reported industry analyst Eric Balchunas on Jan. 12. This shows that there was substantial demand for the products on the first day, as total volumes were more than $4.3 billion, according to the figures. He added...Read More
Bitwise, the manager of a cryptocurrency index fund, has disclosed its commitment to contribute 10% of the proceeds from the Bitwise Bitcoin ETF to support the open-source development of BTC. The decision aligns with the recent approval of the investment product on Wednesday, meeting widespread anticipations within the industry. Bitwise to Fund Bitcoin Development In...Read More
Vanguard Group – the $7.7 trillion asset manager outsized only by BlackRock – has blocked client access to all newly listed Bitcoin spot ETFs. The firm has also ruled out launching a Bitcoin ETF product of its own, claiming the asset doesn’t align with the firm’s investment philosophy. Banks Blocking Bitcoin Access Multiple Twitter and...Read More
Robinhood CEO Vlad Tenev announced today that the company would list Bitcoin ETFs on its platform. The statement follows the landmark decision by the Securities and Exchange Commission (SEC) approving spot Bitcoin ETFs. SEC’s Approval to Integrate Crypto with Traditional Finance “We’ve been ahead of the curve in crypto access, and we plan to list...Read More
Bitcoin miner outflow has reached a 77-month high despite an overall positive trend in the crypto market. According to on-chain intelligence firm CryptoQuant, the ‘Miner Outflow’ metric demonstrated the outflow of Bitcoin from mining pool wallets not seen since August 2017. The outflow metric doesn’t directly monitor funds transferred from miners’ addresses to crypto exchanges,...Read More
Bitcoin (BTC) ripped to another multi-year high of $49,000 on Thursday within an hour of the first U.S. Bitcoin spot ETFs going live on public markets. Between all 11 fund providers, Bitcoin ETFs have already traded $1.7 billion in cumulative volume, based on Yahoo Finance data. According to Bloomberg ETF analyst James Seyffart, Grayscale’s Bitcoin...Read More
America’s largest cryptocurrency exchange, Coinbase, has tagged the approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. a “watershed moment,” which would lead to the expansion of the digital asset economy. In a blog post, the trading platform stated that the new products would unlock diversified pools of fresh investors to propel long-term growth...Read More
The Securities and Exchange Commission (SEC) recently approved several Bitcoin Exchange-Traded Funds (ETFs) in a watershed moment for the crypto industry. However, the enthusiasm surrounding this milestone was dampened by the critical stance taken by SEC Chair Gary Gensler towards Bitcoin and cryptocurrencies in general. Cathie Wood Reacts to Gensler’s Comment This drew surprise and...Read More
Hester Peirce, also known as ‘crypto mom,’ didn’t mince her words in a statement responding to the approval of spot Bitcoin exchange-traded products by her agency after a decade of rejecting them. “Today marks the end of an unnecessary, but consequential, saga,” she said on Jan. 10. The saga likely would have spanned well beyond...Read More
The ProShares Bitcoin Strategy ETF (BITO) has witnessed a significant surge in its assets under management, approaching the $2 billion mark on January 8th, thereby registering an all-time high. On the same day, the trading volume of the fund crossed $800 million. Launched in October 2021, BITO made history as the first-ever Bitcoin futures exchange-traded...Read More
After years of rejections, the U.S. Securities and Exchange Commission (SEC) has approved the first wave of Bitcoin spot ETFs for trade in the United States on an accelerated basis. Per a filing to the SEC’s website on Wednesday, all 11 Bitcoin ETF applicants have been approved for trade across national securities exchanges like the...Read More
Analysts in the crypto community wonder if the false announcement on the spot Bitcoin exchange-traded funds (ETF) approval from the X account of the United States Securities and Exchange Commission (SEC) is an inside job. In a tweet, Gabor Gurbacs, the director of digital asset initiatives at investment management firm VanEck, also vying for a...Read More
The Chicago Board Options Exchange (CBOE) has issued notifications confirming that several highly anticipated Bitcoin spot ETPs will begin trading at 9:30 am ET on Thursday. Confirmed ETPs include the VanEck Bitcoin Trust (HODL), the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB), according to the CBOE’s website. Bloomberg ETF...Read More
Steve McClurg, co-founder and chief investment officer of Valkyrie Funds, has suggested the potential approval of Ethereum or XRP exchange-traded funds (ETFs) following the expected launch of spot Bitcoin ETFs in a recent Bloomberg interview. The prediction comes from the U.S. Securities and Exchange Commission (SEC), which is reportedly likely to approve Valkyrie’s Bitcoin ETF,...Read More
The Chicago Board Options Exchange (CBOE) has announced its approval for the listing of the Invesco Galaxy Bitcoin ETF (BTCO) on its platform. The ETF, which is sponsored by Invesco, will provide investors with exposure to bitcoin through a traditional investment vehicle. The news is confirmed by Fox journalist Eleanor Terret on X (Twitter). The...Read More
Several firms have recently reduced their proposed fees, as revealed in the latest versions of their S-1 forms submitted to the U.S. Securities and Exchange Commission. This is in response to the ongoing industry competition, amplified by the anticipation surrounding the U.S. Securities and Exchange Commission’s (SEC) decision on spot Bitcoin ETFs. Spot Bitcoin ETF...Read More
The fake news originating from a compromised X (formerly Twitter) handle triggered significant volatility within the Bitcoin market, and the drama was even more bizarre than expected, according to Greeks.live, a popular crypto options trading platform. The sharp volatility resulted in a substantial increase in RV, while IV experienced a slight decrease. Leverage Unwinding The...Read More
Cathie Wood’s ARK’s spot Bitcoin ETF is one of the many proposals put forward for the US Securities and Exchange Commission (SEC). Dubbed ARK 21Shares, the product was developed in collaboration with Swiss firm 21Shares, which offers crypto exchange-traded products. Ark21’s Deadline Raises Confidence in ETF Announcement Tonight An update from QCP Capital indicates a high...Read More
At this point, spot Bitcoin ETF approvals are a foregone conclusion. It is not a matter of if but when the SEC will finally greenlight them; at least, this is what most experts believe. It could be any day now, Investors Business Daily reported Tuesday: “Regulatory approval of spot bitcoin ETFs is likely in the...Read More
