ETF

Following its successful Bitcoin ETF launch, BlackRock, the world’s largest asset manager, is now eyeing Saudi Arabia. The company aims to expand its presence in the kingdom’s financial sector. Why BlackRock Aims to Expand in Saudi Arabia According to Bloomberg, BlackRock’s CEO, Larry Fink, frequently visits Riyadh and has engaged directly with Crown Prince Mohammed bin Salman. The firm was the first major global investment manager to open an office in Riyadh, emphasizing its commitment to the Saudi market. This…

For the second trading day in a row, nine of the eleven newly launched spot Bitcoin ETFs have had a fund flow of zero. Only Grayscale and BlackRock have had flows on April 12 and 15 as every other fund was inactive, according to preliminary data from Farside Investors. The continued outflow of funds from Grayscale’s GBTC also means that the net aggregate has flipped negative again for the last two trading days. General crypto asset investment products have also…

Solana’s price saw a notable recovery on Monday after a steep decline over the past seven days. This was supported by positive developments in the Bitcoin (BTC) and Ethereum (ETH) markets, which came alongside the approval of exchange-traded funds (ETFs) for both cryptocurrencies in Hong Kong.  Additionally, Solana addressed its ongoing network congestion issues with a new update, aiming to rectify transaction failures and outages. New Update Tackling Implementation Bug According to Mert Mumtaz, CEO of Helius Labs, Solana’s recent…

Bitcoin’s dominance within the cryptocurrency market has reached a three-year high, signaling strong demand for US spot Bitcoin ETF holding the largest digital asset and a challenging period for smaller tokens. Bitcoin accounted for nearly 55% of the $2.4 trillion digital asset market at the end of last week, a level not seen since April 2021. On Saturday, in particular, BTC’s dominance jumped to 57% as it briefly touched the $67,000 mark.  The next largest tokens by market share include…

The post Hong Kong’s Bitcoin ETF Launch Raises Questions As Analyst Predicts Limited Inflows, Capped At $500 Million appeared first on Coinpedia Fintech News Hong Kong has granted conditional approvals to asset managers to initiate spot Bitcoin and Ether exchange-traded funds, announced the firms. Following the approval, several analysts are debating the potential inflow volume of the ETF and whether it might surpass US ETF volume. However, a prominent Bloomberg analyst predicts that the ETF volume will not exceed $500…

Months after the US Securities and Exchange Commission approved its first-ever spot Bitcoin ETF, Hong Kong’s Securities and Futures Commission (SFC) is reportedly on the verge of agreeing on a similar product in Hong Kong.  It is reported that four mainland Chinese and Hong Kong Asset Managers have submitted their applications to this effect.  An asset manager in China, Harvest Fund Management, is reportedly in line to receive approval from Hong Kong’s Securities and Futures Commission (SFC) to launch a…

Ripple CEO Brad Garlinghouse thinks more crypto ETFs are coming, including XRP, but it will take time due to SEC concerns. Market experts doubt SEC approval for an XRP ETF, citing regulatory hurdles and the absence of XRP on regulated platforms. In a recent appearance at the Paris Blockchain Week, Ripple’s CEO Brad Garlinghouse weighed in on the possibility of an XRP Exchange-Traded Fund (ETF) hitting the market. Amidst growing speculation and regulatory hurdles, Garlinghouse expressed optimism but acknowledged the…

There’s no denying the launch of Spot Bitcoin ETFs has done wonders for the price of Bitcoin and other cryptocurrencies in general. These ETFs have now unlocked institutional demand into the world’s largest crypto asset to change the dynamics ahead of the next halving. On the other hand, recent tensions between Iran and Israel have seen Bitcoin falling to as low as $61,000 in the past 24 hours to undo weeks of price increases.  Bitcoin ETF Wallets Now Whale Addresses…

Multiple Wall Street banks are accumulating Spot Bitcoin ETFs to gain exposure to BTC. The growing embrace has increased the sentiment around the potential rally to $100,000. A recent filing from the US Securities and Exchange Commission (SEC) reveals several prominent banks in the United States valued at about $469 billion in combined Assets Under Management (AUM) are purchasing Bitcoin through BlackRock’s spot Bitcoin Exchange-Traded Fund (ETF). While this action shows that institutions are becoming more interested in Bitcoin, it…