ETF | ForkLog - Part 48

ForkLog 22 24.01.2024

Hester Peirce Advocates for Spot Ethereum-ETF Approval Without Court Ruling

Hester Peirce believes a court ruling is unnecessary for the approval of spot Ethereum-ETFs. The chances of product approval in May are estimated at 50-70%. SEC sources suggest that Chairman Gary Gensler may eventually relent and not obstruct the instrument’s registration. Spot Ethereum-ETFs do not require a court ruling for approval, according to SEC Commissioner […]

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ForkLog 21 23.01.2024

Rival Bitcoin ETFs Attract Over 100,000 BTC

Nine “new” spot Bitcoin ETFs have attracted 109,221 BTC. Due to GBTC sales, net outflows from instruments on January 22 reached 4,537 BTC ($179.6 million). Traders do not rule out a decline in Bitcoin to $36,000. The volume of coins held by spot Bitcoin ETFs, excluding the Grayscale Bitcoin Trust (GBTC), has reached 109,221 BTC […]

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ForkLog 19 23.01.2024

FTX Offloads $908 Million in GBTC Shares Amid Bankruptcy Proceedings

FTX sold $908 million worth of GBTC shares. Outflows from GBTC have surged to $3.45 billion. Panic selling has emerged, yet the market remains relatively balanced. Amid bankruptcy proceedings, FTX has offloaded 22.3 million shares of GBTC valued at approximately $908 million as of January 11. This was reported by CoinDesk, citing informed sources. FTX’s […]

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ForkLog 11 22.01.2024

Cryptocurrency Products Experience First Fund Outflow of the Year

From January 13 to 19, cryptocurrency investment products saw an outflow of $20.8 million, following a near-record inflow of $1.19 billion the previous week, according to a report by CoinShares. Data: CoinShares. Trading volumes decreased from a historic high of $17.5 billion to $11.8 billion, a figure nearly six times the 2023 average (~$2 billion). […]

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ForkLog 17 22.01.2024

Mike Novogratz Downplays GBTC Sales Impact on Bitcoin’s Future

Most investors liquidating positions in Grayscale’s GBTC will redirect funds into other bitcoin ETFs, neutralizing the current weakness of the leading cryptocurrency, according to Galaxy Digital CEO Mike Novogratz. I disagree with this. While I think people will sell GBTC, I think most will switch into other ETFs — $BTCO being my favorite !! Let’s […]

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ForkLog 13 20.01.2024

SEC May Approve Bitcoin ETF Options by February, Analyst Suggests

Bloomberg analyst James Seyffart has indicated that the U.S. Securities and Exchange Commission (SEC) might permit trading of options on spot Bitcoin ETFs in the latter half of February. Absolute latest we get a decision is somewhere around ~Sept 21, 2024. — James Seyffart (@JSeyff) January 19, 2024 “The SEC has already acknowledged the 19b-4 […]

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ForkLog 50 19.01.2024

Grayscale CEO Predicts Failure for Most Bitcoin ETFs

The majority of the 11 spot bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC) are likely to fail, according to Grayscale CEO Michael Sonnenshein in a conversation with CNBC. He believes that only “two or three exchange-traded funds might achieve some critical mass.” “I do not think that ultimately the market will […]

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ForkLog 18 19.01.2024

Experts Discuss the Adverse Impact of ETFs on Bitcoin’s Price

Analysts note price consolidation and liquidity redistribution in the exchange-traded funds market. However, Bitcoin may experience further correction as Grayscale’s GBTC investors take profits. Despite high trading volumes of spot Bitcoin ETFs, the asset’s price is showing a negative trend. On the evening of January 18, the price of the leading cryptocurrency fell below $42,000. […]

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ForkLog 29 19.01.2024

SEC Delays Decision on Fidelity’s Spot Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Fidelity Investments’ application to launch a spot Ethereum ETF. According to the statement, the regulator extended the discussion period by 45 days to allow “sufficient time to consider the proposed rule change and the issues raised.” The deadline is now set for March […]

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ForkLog 5 19.01.2024

South Korea Urged to Reconsider Stance on Spot Bitcoin ETFs

On January 18, the office of the President of South Korea requested the local Financial Services Commission (FSC) to reconsider its stance on spot Bitcoin ETFs, according to The Block. During a briefing, Yoon Tae-yen, the head of policy, stated that the government is exploring the possibility and methods of incorporating foreign regulations into local […]

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ForkLog 18 18.01.2024

Bitcoin ETFs Surpass Silver-Based Funds in AUM

A week after their launch in the US financial market, spot Bitcoin ETFs have surpassed silver-based exchange-traded funds in assets under management (AUM), reports The Block.

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ForkLog 31 18.01.2024

US Spot Bitcoin ETFs Reach $27 Billion in Assets

On January 17, the assets under management (AUM) of spot exchange-traded funds (ETFs) based on the first cryptocurrency in the United States reached 632,000 BTC (~$27 billion), according to research by CoinGecko. AUM of US Spot Bitcoin ETFs. Source: CoinGecko. Grayscale’s GBTC accounts for 93.4% of all bitcoins held in American bitcoin ETFs. In fiat […]

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