ETF Financial News

Bitcoin rallying to an almost 18-month high on speculation that an exchange-traded Bitcoin fund is imminent. Bitcoin rose more than 6% to $35,198, its highest since May 2022. It surged 10% on Monday in its best session for almost a year and its price has doubled in 2023. Crypto-linked shares such as Coinbase Global or bitcoin owner MicroStrategy rose in after-hours trade. Cryptocurrency ether broke above $1,800. An exchange-traded fund (ETF) owning Bitcoin on behalf of fund investors is seen as a driver of demand because it would allow anyone reluctant to trade crypto markets a means of buying exposure to bitcoin through the stock market.

Bitcoin is having another moment

Bitcoin (BTC) may reach new all-time highs by the end of next year, but crypto investors should brace themselves for a “chopfest” in the meantime, according to veteran trader and analyst Peter Brandt. 

, often dubbed the ‘digital gold,’ is currently on a rollercoaster ride. Having recently climbed beyond the $34,000 threshold, BTC’s ascendancy led to the liquidation of over $220 million in short positions in a mere 24-hour span, a testament to its volatile nature. This surge isn’t exclusive to Bitcoin alone; the entire cryptoverse felt ripples, with liquidations across the board exceeding $400 million. Amidst this tumult, Bitcoin stands tall, trading at a commendable $34,750.   Bitcoin’s value has risen by over 13% in the last day, with the global cryptocurrency market cap seeing a 9.8% increase. André Dragosch from Deutsche Digital Assets attributes the price surge to a combination of a short squeeze and significant on-chain developments, including increased transfer volumes and large investor accumulation. However, Dragosch also warns of a potential price correction in the near term. A combination of institutional interest, potential ETF approvals, and global economic scenarios paints a complex picture of BTC’s trajectory. Let’s dive deeper.

Identifying assets with enduring value remains a pivotal concern for investors. Recently, Fidelity Digital Assets shed light on the distinct stature Bitcoin holds among digital assets, endorsing it as a primary consideration for investors. This narrative was further propagated by MicroStrategy's Founder and Chairman, Michael Saylor, who shared Fidelity's insights on Twitter on October 10, 2023, garnering over 300K views.

Asset manager Hashdex recently held a meeting with the U.S. Securities and Exchange Commission to address the regulator's concerns about its application to allow the Hashdex Bitcoin Futures exchange-traded fund (ETF) to hold spot Bitcoin, a source familiar with the matter told Cointelegraph. 

Crypto industry powerhouse Digital Currency Group (DCG) has provided a response to its latest fraud lawsuit from the New York Attorney General (NYAG) last week, alongside updated Q3 financial figures.

Looking back to when he started out, Sam Huszczo, founder of registered independent advisor SGH Wealth Management, said his ignorance was something of a superpower.  

The third quarter earnings season on Wall Street gathers momentum this week, with some of the biggest names in the world set to report their latest financial results.

The price of Shiba Inu (SHIB) has dropped by 2% today, falling to $0.00000742 as the wider market slips by 1% in the past 24 hours.

KMAMC said, “With the launch of Kotak Consumption Fund, we are offering a window for our investors to be a part of the country’s fast-evolving consumption story. It’s about tapping into the shift from basic to smart - from analog to digital, from feature phones to smartphones, and from single-brand to multi-brand retail choices.

Clean-energy stocks have fallen out of favor, with pressures created by rising interest rates outweighing supportive government policies. The iShares Global Clean Energy ETF reached its lowest level since July 2020 this week. The exchange-traded fund invests in renewable-energy companies and utilities in line with a benchmark compiled by S&P Dow Jones Indices, including First Solar and Plug Power.

Cryptocurrency firm, Galaxy Digital views the approval of a spot Bitcoin (BTC) ETF as “the most impactful catalysts” towards the growth and adoption of the top digital asset. 

The price of Litecoin (LTC) has dropped by 2% in the past 24 hours, with its fall to $68.57 erasing some of the gains it made during yesterday's market-wide rally.

As the brief upsell in Bitcoin price action gives way to a typical alt season surge, Bitcoin SV (BSV) is entering retracement following a -4% drop - leaving some dejected bag-holders asking 'is Bitcoin SV going to zero'?

Despite swirling rumors on social media, ARK Invest’s spot Bitcoin (BTC) exchange-traded fund (ETF) does not appear to be listed on the Depository Trust and Clearing Corporation’s (DTCC) website.

Top 10 equity funds in 2023. We thought of identifying the schemes that have lost the most in 2023. We looked at the equity and equity-oriented categories: large cap, mid cap, large & mid cap, multi cap, flexi cap, focused, value/contra, small cap, ELSS, sectoral/thematic, aggressive hybrid, arbitrage, balanced advantage and dynamic asset allocation, equity savings, index and ETF schemes. We considered regular and growth option schemes. We were in for a pleasant surprise. Most equity schemes offered positive returns in 2023. There were very few schemes that offered negative returns. And the biggest losers (we chose four schemes that lost over 5%) were from the international fund category. See table below for details. Mirae Asset Hang Seng TECH ETF lost the most of around 11.27% in 2023. The scheme was launched in December 2021. The scheme lost 6.45% in 2021 and 18.77% in 2022.

Source: Pexels 

By Rae Wee

Bitcoin’s (BTC) price will increase 74.1% in the first year after spot Bitcoin exchange-traded funds (ETFs) are launched in the United States, according to estimates from crypto investment firm Galaxy Digital.

Bitcoin (BTC) marched to 17-month highs on Oct. 24 as exchange-traded fund (ETF) excitement boosted already bullish BTC price action.