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US SEC further delays decision on BlackRock's spot ethereum ETF

Economic Times

Economic Times · 1y ago

US SEC further delays decision on BlackRock's spot ethereum ETF

The US Securities and Exchange Commission (SEC) has once again delayed its decision on BlackRock's application for the iShares Ethereum Trust. BlackRock, a prominent asset manager, filed its application for a spot ethereum exchange-traded fund (ETF) in November of last year. The ETF would be listed on Nasdaq if approved. Ether, the second-largest cryptocurrency, has seen increasing interest from institutional investors. The SEC previously delayed its decision on BlackRock's application in January, following the approval of several bitcoin ETFs. A spot crypto ETF allows investors to gain exposure to a digital asset's market price without purchasing the currency itself.

Related News

Bitcoin gives up gains after BlackRock denies ETF approval report

Economic Times

Economic Times · 1y ago

Bitcoin gives up gains after BlackRock denies ETF approval report

Bitcoin's price surged briefly following a report from Crypto news outlet Coin Telegraph that claimed the US Securities and Exchange Commission (SEC) approved BlackRock's application for a spot bitcoin exchange-traded fund (ETF). However, the gain was largely reversed after a Fox Business reporter stated on social media that BlackRock confirmed their application was still under review. BlackRock later confirmed the SEC's ongoing review. Crypto markets have been eagerly anticipating the decision, as the approval of BlackRock's application is expected to drive investment in the sector.

CoinShares to acquire Valkyrie Funds after US spot bitcoin ETF approval

Economic Times

Economic Times · 1y ago

CoinShares to acquire Valkyrie Funds after US spot bitcoin ETF approval

CoinShares, a digital asset investment firm, will acquire Valkyrie Funds following the recent approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC). This acquisition indicates the expanding interest in the cryptocurrency market and the potential for further growth in the sector.

Bitcoin ETFs Are Off to a Roaring Start. Are Other Crypto Funds Next?

Livemint

Livemint · 1y ago

Bitcoin ETFs Are Off to a Roaring Start. Are Other Crypto Funds Next?

Several Wall Street firms, including BlackRock and Fidelity Investments, have filed applications to launch the first US-listed exchange-traded funds (ETFs) holding ether, the second-largest cryptocurrency. A spot ether ETF, if approved by the Securities and Exchange Commission, could open the floodgates for ETFs backed by more speculative crypto assets. However, critics have expressed concerns over the volatility and potential price manipulation associated with these assets. The SEC has until May to approve or reject the first application for a spot ether ETF, with analysts suggesting approval is possible given the recent approval of spot bitcoin ETFs.

Grayscale bitcoin ETF saw record daily outflows as bitcoin tumbled

Economic Times

Economic Times · 1y ago

Grayscale bitcoin ETF saw record daily outflows as bitcoin tumbled

Bitcoin experienced a selloff, resulting in record outflows from Grayscale's Bitcoin Trust. The outflows from Grayscale's ETF reached a daily record of $642.5 million on Monday, as investors unloaded holdings. Since converting into an ETF on January 10th, the Grayscale fund has witnessed outflows totaling approximately $12 billion. However, the fund's assets currently stand at $27.2 billion, mitigating some of the losses. Nine new spot bitcoin ETFs approved by the SEC have seen inflows of money since their launch. Profit-taking and redemptions are expected for the largest and most expensive bitcoin ETF.

BlackRock, Ark lower fee for planned spot bitcoin ETFs

Reuters · 1y ago

BlackRock, Ark lower fee for planned spot bitcoin ETFs

BlackRock and Ark Investment Management have both reduced the fees for their proposed spot bitcoin exchange traded funds (ETFs), in a bid to outshine their competitors in launching similar investment products. BlackRock's iShares Bitcoin Trust will charge a fee of 0.25%, while the ARK 21Shares Bitcoin ETF has lowered its fee to 0.21%. The competition among ETF managers highlights the urgency to capture a share of the expected influx of capital. The fees charged by the ETFs will play a crucial role in determining the level of asset inflow.

Fresh bitcoin hype shows crypto just can’t help itself

Wired · 1y ago

Fresh bitcoin hype shows crypto just can’t help itself

The prospect of a spot bitcoin exchange-traded fund (ETF) being launched in the US has fueled hype and a surge in crypto prices. Investment firms like BlackRock and Fidelity are preparing to launch spot bitcoin ETFs, which would allow investors to hold bitcoin through a conventional financial product. Although the arrival of a spot bitcoin ETF signifies greater acceptance of bitcoin in legacy financial institutions, analysts warn against mis- and overstating the impact on bitcoin's price. While some believe it will increase demand, others predict a potential price plunge as investors quickly cash out.

Hong Kong's largest bitcoin ETF assets up five-fold since October

Economic Times

Economic Times · 1y ago

Hong Kong's largest bitcoin ETF assets up five-fold since October

The largest bitcoin futures exchange-traded fund in Hong Kong has seen its assets under management soar to over $100 million in the past five months. The CSOP Bitcoin Futures ETF has experienced significant demand, fueled by the approval and launch of spot bitcoin ETFs in the US. The rally in bitcoin and its outperformance of Hong Kong stocks have also contributed to the increased interest. The CSOP Ether Futures ETF has also seen its assets double this year, while average daily turnover for the CSOP Bitcoin Futures ETF has surged to $2.8 million. There are expectations that Hong Kong may approve the first spot bitcoin ETF this year.

Trump media files for 'crypto blue chip ETF' with SEC - The Economic Times

Economic Times

Economic Times · 1m ago

Trump media files for 'crypto blue chip ETF' with SEC - The Economic Times

Trump Media & Technology Group has filed with the Securities and Exchange Commission to launch a "Crypto Blue Chip ETF." This exchange-traded fund, expected later this year, will mostly comprise popular cryptocurrencies: 70% in Bitcoin and smaller percentages in Ethereum, Solana, Ripple's currency, and another crypto by Crypto.com, acting as digital custodian. The move aims to simplify investor access to cryptocurrencies. The SEC recently issued new guidelines for crypto ETFs amidst Trump's supportive regulatory stance.

US regulators could approve spot ether ETFs for launch by July 4

Economic Times

Economic Times · 1y ago

US regulators could approve spot ether ETFs for launch by July 4

The U.S. Securities and Exchange Commission (SEC) may approve exchange-traded funds (ETFs) tied to the spot price of Ethereum (ether) by July 4, according to industry executives. BlackRock, VanEck, Franklin Templeton, and Grayscale Investments are among the asset managers seeking SEC approval. The process of amending the offering documents is reportedly in its final stages, with minor issues being resolved. The launch of spot bitcoin ETFs in January was highly successful, but analysts expect muted interest in the upcoming ether ETFs due to differences in market size and investor demand. Once approved, the products could start trading in as little as 24 hours.

Crypto asset manager Bitwise files for XRP ETP with securities regulator

Economic Times

Economic Times · 10m ago

Crypto asset manager Bitwise files for XRP ETP with securities regulator

- Bitwise has filed for an exchange-traded product (ETP) for XRP tokens with the U.S. SEC. - The filing comes after the SEC approved Bitwise's spot bitcoin ETF earlier this year. - XRP is a digital token that powers the XRP Ledger (XRPL) public blockchain, known for facilitating cross-border payments. - The XRP token currently has a market value of over $30 billion. - An exchange-traded product is a security that trades on a stock exchange and can be bought and sold during the day. - Bitwise's filing is part of their efforts to introduce more crypto products to the market.

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