The approved spot Ether ETF applicants included BlackRock, Fidelity and Grayscale, and are expected to bring billions of dollars into the ecosystem.
The fund is available only for accredited investors. Its basket includes native tokens from Bittensor, Filecoin, Livepeer, Near, and Render.
BlackRock, Franklin Templeton, and VanEck have reportedly received preliminary approval from the US securities regulator, sources say.
Solana is in red for now, but the coin is one of the top performers. In the last year of trading, SOL, the native currency of the Solana ecosystem, rose by over 15X, quickly moving up the crypto ranking to fifth, flipping XRP, Cardano, and even top meme coins like Dogecoin. GSOL Trading At A […]
However, the impressive flows from BlackRock’s IBIT and Fidelity’s FBTC haven’t been enough to gain on the leading ETF asset manager by total flows, Vanguard.
BlackRock’s $20 billion spot Bitcoin ETF recorded inflows of over $102 million on May 28, while Grayscale’s ETF bled again.
Spot Ether ETFs might be weeks or months away from debuting on exchanges, as the ETF filers have yet to receive their S-1 SEC registration.
Sonnenshein's replacement will be Peter Mintzberg, currently head of strategy for asset and wealth management at Goldman Sachs.
ETH price hit $3,100, backed by a favorable court ruling and increased network activity.
Ethereum remains under immense selling pressure, shaving over 30% from March 2024 highs. With prices recently dropping below $3,000 and sellers doubling down, there could be no reprieve for optimistic buyers in the sessions to come. Analyst Expects One More “Washout” To $2,700 Taking to X, one analyst notes that the coin is still bearish and […]
The withdrawal comes a little over two weeks before the United States securities regulator will be forced to make a decision on at least one spot Ether ETF application.
The latest price moves in bitcoin (BTC) and crypto markets in context for May 6, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Asset management firm Grayscale has disclosed new details about its new Bitcoin Mini Trust fund, a “spin-off” of the GBTC exchange-traded fund (ETF). The new fund, which was first announced in March, is expected to operate independently and offer a cost-effective investment option to GBTC shareholders. Grayscale Offers Industry-Low Fee With New Fund According to […]
Grayscale's Bitcoin Mini Trust ETF aims to attract investors with a competitive 0.15% management fee and tax-free Bitcoin exposure.
The post Grayscale sets 0.15% fee for its Bitcoin Mini Trust ETF appeared first on Crypto Briefing.
Bitcoin ETF provider Grayscale has provided some illustrative details of its spin-off fund, the Bitcoin Mini Trust (BTC), including a more competitive 0.15% fee than the uplisted mothership GBTC product, according to a pro forma financials in its latest filing.
Popular economist and vocal opponent of Bitcoin Peter Schiff has issued a warning to the cryptocurrency community, predicting that BTC Spot Exchange-Traded Funds (ETFs) buyers will soon start bailing out as they become overwhelmed by the volatility in the market. Bitcoin ETF Buyers Will Soon Bail Out Being known for holding unconventional opinions, investors are […]
Amid the buzzing excitement following the approval of Bitcoin and Ethereum Spot Exchange-Traded Funds (ETFs) in Hong Kong, Bloomberg Intelligence analyst Eric Balchunas has made a post highlighting the explosive growth of the products in the United States. US Bitcoin ETFs Assets Surpasses Hong Kong’s According to Eric Balchunas, the combined asset pool held by […]
Inflows into Bitcoin ETFs have also slowed, indicating declining investor engagement.
This week’s Crypto Biz explores the rise of tokenization markets, PayPal’s stablecoin, SushiSwap’s move to a “Labs model,” and the U.S. SEC’s decision to defer Bitcoin ETF options.
Sonnenshein said that some of the selling connected to settlements of bankrupt crypto companies like FTX are "largely behind us."
The proceeds from the sold tokens were used to buy existing portfolio components, according to Grayscale. Both ADA and ATOM are down year-to-date.
Many expect the commission to reach a final decision on spot Ether ETFs in May with approval or denial of a filing from VanEck.
Despite a net positive flow into the crypto market, the ETF demand seems to have slowed down compared to its peak in the first week of March.
Available for investors with over $1 million in AUM, the fund's returns are based on staking rewards from different tokens.
Grayscale’s Bitcoin ETF has bled over $14 billion and it hasn’t lowered its industry-high fees, but ex-Wall Street analyst Jim Bianco gave two reasons why.
Recent observations by Eric Balchunas, a senior ETF analyst at Bloomberg, suggest that the movements in Bitcoin’s price are influenced by factors beyond just the flows of spot Bitcoin Exchange Traded Funds (ETFs). According to Balchunas, who shared his insights on X, “bigger forces at work” shape the largest cryptocurrency’s valuation. This indicates that the correlation between spot ETF flows and Bitcoin’s price action is less direct than some assume. Related Reading: Bitcoin Supply On Exchanges Hit 4-Year Low, But Why Is Price Crashing? The ETF Influence And Market Movements This analysis emerges amid a period of significant financial activity for Grayscale, which has seen substantial outflows, described by Balchunas as experiencing a “second wind” of departures. Yesterday, Grayscale reported outflows of $281.57 million, marking a notable decrease in its Bitcoin holdings by more than 40% since the inception of spot Bitcoin ETFs on January 11. This scenario highlights a broader narrative within the cryptocurrency investment sphere, where the relationship between ETF activities and Bitcoin’s market performance is complex and multifaceted. Interesting is price of bitcoin still went up yesterday and yet it went down second half of last week when Ten saw net inflows = there are other players controlling this market. ETFs def a factor but bigger forces at work here. — Eric Balchunas (@EricBalchunas) March 21, 2024 Despite the record outflows from Grayscale’s GBTC, Bitcoin’s market behavior has shown resilience. The cryptocurrency recently exceeded the $67,000 mark before experiencing a slight retracement, currently trading at a price of $66,106. This movement coincides with comments from Federal Reserve Chair Jerome Powell, which seemingly spurred a rally across various risk assets, including cryptocurrencies. Powell’s reassurances regarding the outlook on rate cuts prompted a slight recovery in Bitcoin’s price, demonstrating how external economic factors and sentiments can impact cryptocurrency markets. It is worth noting that Bitcoin traded below $65,000 before the announcement. On-Chain Insights And Bitcoin Future Prospects Further deepening the analysis, Charles Edwards, a crypto analyst, recently suggested that pullbacks are common in Bitcoin’s bull runs, with corrections of around 30% within the realm of possibility. A normal Bitcoin bullrun pullback is 30%. Back in December, we were already in the longest winning streak in Bitcoin’s history. A 20% pullback here takes us to $59K. A 30% pullback would be $51K. These are all levels we should be comfortable expecting as possibilities. — Charles Edwards (@caprioleio) March 19, 2024 In related news, data from the on-chain analysis platform CryptoQuant has recently indicated a nearly 40% reduction in Bitcoin’s supply on exchanges over the past four years. This trend points towards a bullish sentiment within the Bitcoin ecosystem, suggesting that investors are inclined to hold onto their assets in anticipation of future value increases. Moreover, CryptoQuant’s data reveals that Bitcoin’s demand has consistently outstripped its supply since 2020, a trend that supports the asset’s value on the premise that scarcity enhances perceived value. Related Reading: Hold Your Horses: ‘Buying The Crypto Dip Is Still Too Early’ Warns Top Analyst — Here’s Why This dynamic is expected to intensify following the upcoming Bitcoin halving event, which will reduce the miners’ supply by half, potentially leading to further increases in Bitcoin’s price. Featured image from Unsplash, Chart from TradingView
Grayscale Bitcoin exchange-traded fund (GBTC) fees will gradually decrease as the market evolves, according to CEO Michael Sonnenshein. In a March 19 CNBC report, Sonnenshein pointed out that the fee reductions would align with market maturity, saying: “We have seen this in countless other exposures, countless other markets, you name it, where typically when products […]
The post Grayscale hints at lower fees for its Bitcoin ETF as market matures appeared first on CryptoSlate.
Spot Ethereum Exchange-Traded Funds (ETFs) may be witnessing a decline in approval odds, but there is still a wave of optimism among several financial management firms applying for the products. Fidelity Amends Its Ethereum Spot ETF Application Amid the anticipation encompassing the Ethereum spot ETFs, financial management giant Fidelity has recently amended its application for […]
The asset manager's Opportunity Trust Fund has $1.4 billion in AUM.
The price of Bitcoin stumbled amid a big day of Grayscale’s ETF outflows. JPMorgan analysts think more price corrections are coming post-halving.