The new milestone was reached shortly after the launch of BlackRock's first tokenized asset fund — BUIDL, which joined 16 other tokenized government securities funds last week.
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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The ARK 21Shares Bitcoin ETF saw a massive $201.8 million in inflows, almost a four-fold increase from its daily average of $43.9 million.
18394BlackRock’s CEO Larry Fink says he’s been “pleasantly surprised” at the level of retail demand for his firm’s spot Bitcoin ETF.
13546Bitcoin price reversed course at the $71,000 level as professional traders' confidence began to waver.
17828Staking rewards could create a taxable event for shareholders and introduce new risks associated with the fund.
6838Grayscale says multiple metrics make it clear that Bitcoin is in the “middle of the bull run.”
5336Bitcoin analysis is counting down to a BTC supply squeeze unlike any other — one which should come within the next year.
16695Fidelity’s Bitcoin ETF posted its largest day of gains over the last two weeks, leading the pack with $279 million in daily inflows.
6445Hashdex will be the 11th entrant to a competitive spot Bitcoin ETF race in the U.S. dominated by BlackRock and Fidelity.
9221Hong Kong aims to enable in-kind creations and redemptions for spot Bitcoin ETFs in the second quarter.
3275BTC price strength continues to enjoy a flash turnaround this week as analysis says Bitcoin ETF bid interest is “back.”
2706Grayscale’s Bitcoin ETF has bled over $14 billion and it hasn’t lowered its industry-high fees, but ex-Wall Street analyst Jim Bianco gave two reasons why.
4547“The case is just as strong as it was for spot #Bitcoin ETFs,” Grayscale’s chief legal officer Craig Salm wrote in a post on X.
6096Bitcoin futures and options indicate growing strength at BTC’s $70,000
11627Bitcoin supply on cryptocurrency exchange Coinbase has reached a nine-year low as BTC accumulation resumes to push price back above $70,000.
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