Bitcoin ETF

The first US Bitcoin ETF – The ProShares Bitcoin Strategy ETF – may prove itself popular beyond sustainability. The fund is already approaching its limit on futures contracts holdings, as enforced by the Chicago Mercantile Exchange (CME). Bitcoin ETF: Too Popular to Handle? Last week, data from Bloomberg indicated that ProShares' Bitcoin ETF was holding 1900 futures contracts dated for October. This was only 100 short of the 2000 futures contract limit that the CME imposed during an ETF's first…

Grayscale – the world’s largest Bitcoin fund – recently filed to turn their company into a Bitcoin spot ETF. This comes shortly after ProShares’ Bitcoin Futures ETF began trading on the New York Stock Exchange (NYSE) earlier today. If approved, Grayscale’s fund would become the first Bitcoin Spot ETF in the United States. Will the SEC Approve? As reported by Bloomberg, Grayscale’s filing would flip its $40 billion Bitcoin Trust (ticker GBTC) into an ETF. Michael Sonnhenshein, CEO of Grayscale,…

Following years of delay and debate, the SEC has finally greenlit a Bitcoin Exchange Traded Fund for the United States. On Tuesday morning, the ProShares Bitcoin Futures ETF should begin trading on the New York Stock Exchange (NYSE). Also, many expect the fund to give typical consumers and major institutions both compliant and convenient exposure to Bitcoin. The ProShares Bitcoin Strategy ETF ProShares announced its upcoming launch this morning in a press release, confirming rumors circulating since Friday. On October…

BlockFi– a leading cryptocurrency lending institution– has recently filed for a Bitcoin Futures ETF with the SEC. Their request comes amidst growing excitement that the US could approve a Bitcoin ETF by the end of October. Blockfi’s Bitcoin Strategy ETF BlockFi’s proposed ETF would be listed on the Cboe BZX exchange, according to the company’s filing today. It seeks to purchase cash-settled Bitcoin futures contracts on the CME to accumulate capital. It would also invest in short-term fixed-income securities, alongside…

The Securities and Exchange Commission still shows no urgency to approve a Bitcoin ETF. They have extended their review of four proposed crypto funds by well over a month, citing the need for further review. Hesitancy on a Bitcoin ETF According to a filing from the SEC this week, the affected funds include the following. The Global X Bitcoin Trust, The Kryptoin Bitcoin ETF The Wisdomtree Bitcoin Trust The Valkyrie XBTO Bitcoin Futures Fund. Global X approval has been delayed…

According to a panel hosted by Morningstar, Executives said direct exposure to crypto might outdo exchange-traded funds (ETFs). An ETF could provide more security to investors. However, the executives said that it would not help them with immediate financial needs. Executives alleged that financial advisers better exchange-traded funds in the industry. Last week, they said at a panel that Bitcoin ETFs might be more valuable to only financial advisers and their clients. Cryptocurrencies Compared to ETFs Tyrone Ross, chief executive of Onramp…

There's no doubt that Bitcoin is an excellent and highly profitable investment asset. Investors globally, especially holders, made millions recently when Bitcoin increased in prices. In fact, as the coin is currently retracing, investors are maximizing bitcoin's volatile nature.  However, even though the coin is profitable, some investors do not have access to its benefits. The requirement of technical expertise and the risky nature of the coin always makes investors shy away.  Some platforms have been coming up recently, including bitcoin trusts,…

VanEck Associates Corp. seeks approval from the U.S. Securities and Exchange Commission (SEC) to establish an exchange-traded fund called "VanEck Ethereum Trust." If VanEck's proposal is approved, the VanEck Ethereum Trust will allow retail and institutional traders to gain exposure to the world's second-largest cryptocurrency by market cap without requiring them to invest in it directly. It could also value its shares daily based on the MVIS CryptoCompare Ethereum benchmark rate. This would be the first U.S.'s ether ETF, but…