The filing came before the commission's June 17 deadline to approve or disapprove of the Bitcoin ETF following an extension in April.
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.
A survey reveals investors are still bullish on Bitcoin and other cryptocurrencies despite the recent market drop.17796
The Purpose Bitcoin exchange-traded fund has been reaccumulating BTC since mid-May, a sign that investors are keen to buy the dip.42245
BTC demand via Grayscale Bitcoin Trust is dropping for several key reasons.23182
BTCE will begin trading on Aquis Exchange in London and Paris next week. The product debuted on Germany’s Xetra digital stock exchange in June 2020.9255
ETF shares would be listed on the Chicago Board Options Exchange’s BZX Exchange.5528
Fidelity’s Wise Origin Bitcoin Trust and the First Trust SkyBridge Bitcoin ETF are now under review by regulators, according to paperwork filed earlier this month.11588
Agriculture-focused fund provider Teucrium Trading filed an application with the SEC to launch a Bitcoin ETF tracking BTC futures.13136
Twelve months earlier, the company recorded a comprehensive loss of $26.9 million.12211
Bitwise has launched a new ETF offering exposure to the top publicly listed firms operating in the blockchain and crypto industries.18830
The U.S. SEC will monitor the compliance of mutual funds with exposure to Bitcoin futures and look into whether the market can accommodate an ETF.11713
Two months after filing VanEck’s BitcoinETF, CBOE has submitted another application — one proposed by Fidelity — to the SEC.8229
Ninepoint will allocate part of its management fees to even out the carbon footprint of Bitcoin in its exchange-traded fund product.10181
The Grayscale Bitcoin Trust continues to trade at a discount compared to BTC, a situation that presents a unique challenge to Grayscale and investors.58672
SEC filings show that America’s oldest bank has attributed the underperformance of its small-cap ETF to failing to buy MicroStrategy shares after the firm invested heavily in BTC.11137