The price of LDO jumped briefly after an updated spot Ether ETF application from Fidelity which proposed to stake “a portion” of the fund’s ETH to generate additional income.
ETF News
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 with easier exposure to a particular index of assets.
A Bitcoin ETF is similar, but the underlying asset is the Bitcoin (BTC) cryptocurrency rather than other traditional financial instruments. Bitcoin ETFs could provide institutional investors an easier way to buy into Bitcoin and crypto markets, thus making it more attractive to the broader investment community.
BTCetc, or Bitcoin Exchange Traded Crypto (BTCE), launched on Deutsche Börse Xetra in June 2020 as the first Bitcoin ETF available in the European market. ProShares Bitcoin Strategy ETF (BITO) was the first Bitcoin-linked ETF approved by the United States Securities and Exchange Commission (SEC). It launched in October 2021. Canada approved the world’s first spot Bitcoin ETF, Purpose Bitcoin ETF (BTCC), in February 2021.
As of October 2023, U.S. regulators had not approved a spot Bitcoin ETF, with the SEC expressing concerns about market manipulation, fraud, custody and investor protection in their hesitancy to approve such applications.
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As the Bitcoin behemoth grows, we should expect some of the original OGs to depart in search of decentralized alternatives and bigger gains.
2171The total assets managed by crypto exchange traded notes have eclipsed $100 billion.
3752The SEC could bring more regulatory scrutiny toward Ether ETF applications, despite the prior approval of spot Bitcoin ETFs, according to Recharge Capital’s John Lo.
958Vanguard CEO Tim Buckley is resisting customer pressure to offer a spot Bitcoin ETF despite several of the firm’s competitors already offering them.
11279This week’s Crypto Biz covers the buzz surrounding Bitcoin, the outlook for Ether ETFs, Ubisoft as an XPLA validator, Coinbase’s challenges and global banks taking on blockchain.
9161The U.K.’s Financial Conduct Authority says it won’t object to the creation of crypto-backed exchange-traded notes — a financial product similar to an ETF — on the condition they are restricted to professional investors only.
15520Some suggest a waning ETF narrative and economic data from the United States may have sparked the sudden crypto sell-off.
23631Coinbase chief legal officer Paul Grewal says there’s direct evidence that Ether’s futures and spot markets are just as correlated as Bitcoin, suggesting the senator’s letter is misguided.
12044Nearly 100 million shares of BlackRock’s Bitcoin funds were traded on Thursday, setting a new daily volume record.
17880Two Democratic senators argue that any further approvals would expose investors to risks including “fraud and manipulation.”
20233BTC price records keep coming with $74,000 on the table in advance of another day's Bitcoin ETF inflows.
11182The NYSE has informed the SEC of its proposal to list and trade shares of the 7RCC spot Bitcoin and Carbon Credit Futures ETF.
4564Demand for BTC futures soars to $35 billion, but options markets show no signs of excessive optimism.
11290The Bitcoin ETFs appear to have opened many institutions’ eyes to Bitcoin as an alternate asset. Will the April halving accelerate the trend?
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