The group already has Bitcoin and Ether ETPs listed on the Deutsche Börse Xetra.
Exchange-traded funds, or ETFs, are investment funds that trade on a stock market with their value derived from an underlying basket of assets such as stocks, bonds, commodities and other financial instruments. They provide investors easier exposure to a certain index of assets.
A Bitcoin ETF is similar, but the underlying asset is the Bitcoin (BTC) cryptocurrency rather than other traditional financial instruments.
The hope of Bitcoin ETFs is that they could provide institutional investors an easier way to buy into Bitcoin and crypto markets, thus making it more attractive to the broader investment community.
While there have been many proposals for Bitcoin ETFs presented to the United States Securities and Exchange Commission, or SEC, the main hindrance to their approval is concern for asset volatility and market maturity, though this sentiment is starting to shift in crypto’s favor. For years, and most certainly now, there has been demand from institutional investors for this on-ramp to the crypto economy.
Mike Novogratz’s Galaxy Digital is the latest Bitcoin exchange-traded fund applicant in the United States.6603
Both Bitcoin's daily volume and the amount held by large addresses roughly match 10% of gold's.34154
Reef Baskets V1 is intended to function in a similar manner as traditional ETFs.9816
"We think we're likely to see one in the coming year or two, but we don't have a firm timeframe as to when the answer would be yes," said Todd Rosenbluth.13446
Goldman Sachs CEO David Soloman has forecast a big evolution in how the U.S. government regulates cryptocurrency.23525
Assets under management for institutional funds have hit a record high of $59 billion.7651
The company is renewing its push for a U.S. ETF but offered no specific guarantees or promises.12915
The SEC is pitching a shutout against Bitcoin-based ETFs, and not even Fidelity’s storied name may be enough to overcome the obstacles.36852
Following the launch of Canada’s first Bitcoin ETF, shares in Grayscale’s Bitcoin Trust have spent an entire month trading at a discount compared to spot BTC for the first time.14263
CoinShares CEO Jean-Marie Mognetti said its proposed Bitcoin ETF aims to make "digital assets more accessible to investors of all types."7652
Ed Tilly, the CEO of Cboe Global Markets, says that the Chicago-based exchange holding company hasn't “given up on” crypto, despite earlier setbacks.7241
Fidelity submitted paperwork for the Wise Origin Bitcoin Trust on Wednesday. If approved, the Trust would be the first Bitcoin ETF to launch in the United States.17563
Institutional inflows have declined 59% this past week, but AUM is at an all-time high.10223
SkyBridge Capital has filed for a Bitcoin ETF in partnership with First Trust Advisors.10824