Grayscale Advisors is in the process of becoming registered as a commodity pool operator with the U.S. CFTC for Grayscale’s new Ether futures ETF.
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.
Crypto investment products have seen over $450 million in cumulative outflows over the past nine weeks.2515
Ethereum’s Holesky testnet launch fails, CoinEx writes open letter to hackers, Sam Bankman-Fried’s court drama, and more.34576
This week’s Crypto Biz looks at PayPal’s crypto gateway, Franklin Templeton’s BTC ETF filing, Coinbase’s Lightning Network integration, and Meta’s plans for a new AI model.6287
The crypto market is up in the last 24 hours, driven by expectations of Fed dovishness and easing concerns over FTX.106674
This week, The Market Report discusses Bitcoin’s recent dip below $25,000 and what it means for the near future. Was it a discount or a disaster?7167
The Securities and Exchange Commission will inevitably approve a spot Bitcoin ETF, but we should retain some healthy skepticism about the risks it will create.5940
Several macroeconomic indicators suggest that bearish headwinds could strengthen during the remainder of 2023 and possibly negatively impact the crypto market.16033
Bloomberg ETF analyst James Seyffart expects more spot Ethereum ETFs to be filed in the coming days.7476
Bitcoin’s current price action leaves much to be desired, but multiple indicators point to what could be a generational buying opportunity for patient investors.4750
This week, The Market Report discusses why $22,000 is the next logical step for Bitcoin and why BitMEX co-founder Arthur Hayes claims the bull market started back in March.15125
“We believe the Trust’s nearly one million investors deserve this fair playing field as quickly as possible,” Grayscale’s lawyers wrote to the regulator.5756
“It’s reckless not to aggressively accumulate BTC at current levels,” K33 senior analyst Velte Lund says in a new report.14994
BTC derivatives have flipped bearish after Bitcoin failed to establish bullish momentum despite heightened spot ETF prospects.21904
Despite BlackRock’s application for a Bitcoin spot ETF, its approval remains uncertain, with the SEC favoring another futures-based Ether ETF.11752