In-kind redemptions for crypto exchange-traded funds could be coming, according to one of the SEC's top leads Hester Peirce.
The Bitcoin Price witnessed a turbulent price action over the past couple of days, driven by escalating and potentially de-escalating conflict in the Middle East. The BTC price plunged to lows of $98,200 following US attacks on Iran but quickly rebounded and is up nearly 9% in the past 3 days after ceasefire talks emerged. …
Trump Media and Technology Group Corp (TMTG) has officially filed for its second crypto exchange-traded fund (ETF), focusing on Bitcoin (BTC) and Ethereum (ETH), as detailed in a recent filing to the Securities and Exchange Commission (SEC). Trump Media Files For Second Crypto ETF If the SEC approves this new investment product, it will trade on NYSE Arca, the electronic division of the New York Stock Exchange known for handling exchange-traded fund transactions. This latest filing comes just eight days after TMTG submitted a prospectus with the Connecticut Attorney General through its Special Purpose Acquisition Company (SPAC) partner, Yorkville America. Majority-owned by President Donald Trump, Trump Media is intensifying its efforts to promote financial products linked to blockchain technologies. The company aims to provide the public with regulated investment vehicles that offer exposure to the cryptocurrency market. Related Reading: Is Ethereum Staging A Repeat Of 2021? Here’s Why A 200% Surge Could Follow Recently, Trump Media announced its ambition to raise $2.4 billion, with the goal of becoming one of the largest corporate holders of Bitcoin. This move appears to be part of a broader strategy to diversify its business and attract a wider array of investors. By launching multiple crypto-focused ETFs, Trump Media hopes to generate significant interest in its stock, potentially positioning itself as an appealing option for cryptocurrency enthusiasts. However, with several crypto ETFs already available in the market, there are questions about how much investor interest these funds will garner. The success of the ETFs will likely hinge on their fee structures and how competitive they are compared to existing options. Bitcoin To Hit $180,000-$250,000 As of now, Bitcoin is trading at $106,000, recovering 3% from a recent drop to $98,000. This volatility is largely attributed to the ongoing conflict between Israel and Iran, which has intensified over the past 12 days, impacting financial markets significantly. Market analyst known as Mr. Wall Street recently shared his insights on social media platform X (formerly Twitter), reiterating his bullish targets for Bitcoin, which he believes will reach between $180,000 and $250,000 this year despite any external conflict. Interestingly, Mr. Wall Street noted a significant shift in capital flows, with over $20 billion moving from gold to Bitcoin in the last two weeks alone. Related Reading: Ethereum Whale Loads Up: $422M In ETH Bought In Under a Month This trend suggests that institutional investors and hedge funds are increasingly viewing Bitcoin as a more reliable store of value compared to gold, given Bitcoin’s fixed supply. Additionally, Mr. Wall Street pointed out that the over-the-counter (OTC) desks are becoming less liquid, indicating that significant upward movement in Bitcoin’s price could be imminent. A key indicator, the hash ribbon, recently flashed, signaling that Bitcoin often experiences a 10% correction before rallying by 50-125%. Mr. Wall Street believes that the recent dip to $98,000 constituted this correction, and he anticipates a substantial return on investment from current levels. Moving forward, the analyst expects “continued noise” from the geopolitical landscape, but he believes that further escalation is unlikely. The recent market dip created a sense of peak fear, which historically precedes significant price breakouts, Mr. Wall Street said. Featured image from DALL-E, chart from TradingView.com
The Truth Social Bitcoin and Ethereum ETF is designed to track the performance of bitcoin and ether prices.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The Ethereum ETFs have overcome more than $4 billion in net outflows from Grayscale's converted ETHE fund to reach the milestone.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Meanwhile, spot Bitcoin ETFs set a total net cumulative inflow record for the fifth straight day on Friday, though the inflow level was comparatively low.
South Korea's FSC said it would prepare an implementation plan for local cryptocurrency ETFs in the second half of 2025.
U.S. spot Bitcoin ETFs' recent net inflow streak has extended to eight days, totaling $2.4 billion, despite relatively subdued price action.
Meanwhile, K33 launched a new share issuance plan to raise funds toward its 1,000 BTC treasury accumulation target.
Despite the positive ETF flows, analysts remain cautious amid the latest price dip as geopolitical tensions continue.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Wall Street infrastructure is rapidly capturing market share from crypto-native exchanges as ETF-based trading surges 15% since October.
The move follows registration for a standalone Truth Social bitcoin ETF earlier this month.
Bitcoin-based funds rebounded with $1.3 billion in net inflows, while Ethereum products continued their strongest run since February.
Rising geopolitical tensions in the Middle East sent crypto markets downward as investors flee to safer assets.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Bitcoin (BTC) price has faced a mild resistance of around $110,300 in the past three days. The flagship coin has formed a short-term bearish sentiment, coinciding with the trade deal between the United States and China. After experiencing significant hype in the last few weeks, the closure of the U.S.-China tariff negotiations have triggered a …
BlackRock’s iShares Bitcoin Trust (IBIT) has just reached a major milestone, both in price and popularity. With Bitcoin prices surging and institutional demand booming, IBIT is now one of the fastest-growing ETFs in U.S. history. But how did it beat gold and S&P 500 ETFs to this record, and what does it mean for Bitcoin’s …
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
BlackRock’s iShares Bitcoin Trust (IBIT) has made headlines by amassing a staggering $70 billion in total assets, achieving this milestone faster than any other exchange-traded fund (ETF) in history. This remarkable feat occurred just 341 days after its launch, according to Bloomberg analyst Eric Balchunas, who noted that IBIT reached this figure five times quicker than the previous record holder, State Street’s GLD gold ETF, which took nearly 1,700 days. BlackRock’s IBIT Outshines Competitors As the most popular of the twelve Bitcoin ETFs currently available, IBIT stands out significantly in the market. Following closely behind are Fidelity’s FBTC and Grayscale’s GBTC, both of which have around $20 billion in assets. Related Reading: Dogecoin Is Going To $1 With The ‘Next Impulse’, Analyst Predicts The launch of IBIT and ten other Bitcoin ETFs at the start of last year by the world’s largest asset managers marked a significant shift in the investment landscape, fueled by long-awaited regulatory approval from the Securities and Exchange Commission (SEC). The debut of these funds highlighted a robust demand from investors eager to capitalize on Bitcoin’s price fluctuations. IBIT alone accumulated over $1 billion in assets within just four days of its market introduction. By November, IBIT had surpassed the total assets of BlackRock’s gold fund, solidifying its position as the largest among the 1,400 funds managed by the asset manager worldwide. Bitcoin ETF Market Thrives The momentum didn’t stop there; in December, IBIT became the fastest exchange-traded fund to hit $50 billion in assets, achieving this milestone five times quicker than BlackRock’s iShares Core MSCI EAFE ETF, which took nearly four years to reach the same level. “IBIT’s growth is unprecedented,” remarked Bloomberg ETF expert James Seyffart in an interview with Fortune Magazine on Monday. “It’s the fastest ETF to reach most milestones, outpacing any other ETF across all asset classes.” Related Reading: Pundit Says Do Not Ignore Ethereum Amid New All-Time Highs In Major Metric The surge in Bitcoin ETFs has coincided with significant increases in the cryptocurrency’s price. For instance, as Bitcoin reached an all-time high of $111,900 in late May, the cumulative net assets across all twelve Bitcoin ETFs surpassed $134 billion, reflecting the growing interest and investment in this digital asset class. Since reaching its record high, the market’s leading cryptocurrency has retraced, with the most important support line at $100,000 being tested on June 5. Nevertheless, Bitcoin has once again regained its bullish momentum, jumping past the $108,400 mark on Monday. With gains of 2% and 4% on the 24-hour and weekly time frames, respectively, the price of BTC is now only 2.7% below the record price level. This puts the cryptocurrency on the verge of a new price discovery phase after the normal pullback seen last week. Featured image from DALL-E, chart from TradingView.com
BlackRock's IBIT product dominates spot Bitcoin exchange-traded funds by trading volume, with a current 79% market share.
Mainstream interest is broadening beyond Bitcoin's "store of value" use case toward blockchain-based financial innovation, the analysts said.
Ethereum-based funds led for the second week in a row, while the usually dominant global Bitcoin investment products saw further net outflows.
Bitcoin ETFs reached a similar milestone in late May, setting a cumulative inflow record, but have shed around $1 billion in value since then.
The parent company of social media platform Truth Social registered with the SEC to issue up 84,657,181 shares of Common Stock
The Cathie Wood-led investment firm bought 4,486,560 Circle shares for its Innovation, Next Generation Internet, and Fintech Innovation funds.
The social media company filed an S-1 document with the Securities and Exchange Commission on Thursday.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.