ETF Financial News

The price of crypto assets retreated this week following an explosive week before when the price of BTC rose more than 15% due to pro-crypto US Presidential candidate Donald Trump surviving an assassination attempt. With a large move within a span of only a few days, prices quickly retreated as risk-off selling in the stock markets spilled over to crypto assets, caused by a rising yen and the uncertainty looming in America after US President Biden was rumored to be critically ill.

MUMBAI : Shortly after the Union finance minister Nirmala Sitharaman presented the budget 2024 on 23 July, executives of a foreign investors-backed asset management company rushed to New Delhi to seek clarification on a key issue: Can foreigners invest in India through a mutual fund-like structure with zero tax? The answer is yes as long as the money is not directly invested in equities. The Union Budget 2024-25 proposed that “retail schemes and exchange-traded funds (ETFs) set up in Gujarat International Finance Tec-City, or GIFT City, will now enjoy tax exemptions along similar lines as available to specified funds". "Now retail funds in GIFT will get the same tax benefit like category III Alternative Investment Funds (AIFs)," said Suresh Swamy, partner, Price Waterhouse & Co.

mutual funds have filed draft documents with Sebi to launch sectoral and passive funds. Kotak Mutual Fund and Invesco Mutual Fund have filed for sectoral/thematic funds while Aditya Birla Sun Life Mutual Fund has filed for debt-based passive funds.

Ethereum spot ETFs experienced a significant net outflow of $98.3 million on July 29, marking the fourth consecutive day of outflows.

Can India achieve the government's target of achieving $10 trillion GDP by 2030? Given that we are yet to hit $4 trillion, only $8 trillion is plausible by 2030, says Nilesh Shah, MD, Kotak AMC, in a post-Budget interaction with Mint. He believes finance minister Nirmala Sitharaman achieved the trinity of impossible of fiscal consolidation, investment and job creation. It should lead to the country's credit upgrade, he says. Shah adds that hiking the security transaction tax (STT) on futures and options (F&Os) is a step in the right direction. Edited excerpts:

DigitalX announced on July 19 that cryptocurrency exchange Coinbase would be its custody partner for its new spot Bitcoin ETF (BTXX). The custody of the DigitalX Bitcoin ETF (BTXX) shows the exchange’s growing role in supporting the infrastructure for Bitcoin ETFs worldwide.

The nine US ETFs holding the Ethereum cryptocurrency saw outflows of $340 million during their first week of trading as investors pulled money daily from a high-fee legacy product that was converted to an exchange-traded fund.

Bitcoin (BTC) briefly topped $71,000 early Monday, riding high on the optimism from the Bitcoin 2024 conference in Nashville over the weekend, before reversing course and falling 2% to around $67,000 as of 2 p.m. ET.

According to data from Invesco's latest European Demand Monitor, European equities saw a $4.9bn rise in net new assets (NNA) in Q2, marking a four-fold increase in flows compared to the previous quarter. This brought the total amount of inflows to $6.1bn since the beginning of the year. Deep Dive: A 'new world order' will lead to bifurcated blocs and more US-China protectionism In total, European ETFs raised $59bn in the second quarter, marking an 88% increase from the same quarter in 2023. Overall, total equity AUM ended the quarter at $1.45trn on the back of strong inflows and...

Bitcoin (BTC), the world’s leading cryptocurrency, has experienced volatility. It struggled to maintain its early-day upward momentum and dipped to $67,624.

gold prices have shown ferocious moves compared to equities. Investors and traders need to be calculative while making investment decisions at this time. Gold had given 16% return in year-to-date 19 July 2024, compared to the 14% return given by the Nifty 50 index – the most widely tracked gauge of stock market performance. However, Union Finance Minister Nirmala Sitharaman announced a sharp cut in import duties to 6% from 15% earlier on gold, in Union Budget 2024. This pulled down the price of yellow metal. Compared to Rs 72,718 per 10 gram on MCX on 22 July 2024 the gold prices went down to Rs 68,510 by end of 23 July 2024 – the day of budget announcements, and then went to hit a low of Rs 67,462. Equities on the other hand tanked for a while due to increase in taxation of capital gains, but quickly recovered to go higher. These price gyrations baffled many investors. A look at the drivers of price change however should help to take a more informed decision.

Cryptonews Podcast host Matt Zahab sat down for an exclusive interview with Bobby Lee, the Founder and CEO of Ballet, the cryptocurrency company behind the REAL Series Cold Storage.

Bitcoin began the week on a high note, trading at around $68,000. Market participants were buoyed by optimism about Donald Trump’s potential election win. Tuesday marked a significant milestone in the cryptocurrency market with the trading debut of Ether ETFs following the SEC's approval. This development was highly anticipated, as it represents a significant step towards mainstream acceptance and institutional adoption of Ethereum, the second-largest cryptocurrency by market capitalization. The approval of Ether ETFs is seen as a validation of the crypto sector, encouraging further investment and interest. The mid-week brought a downturn, with Bitcoin falling back to the $64,000 level. This decline was partly driven by disappointing earnings reports from major tech companies like Alphabet and Tesla. As tech stocks tumbled, the ripple effect was felt in the cryptocurrency space. Another factor contributing to the mid-week slump was the continued selling pressure from Mt. Gox creditors. The combined effect of tech stock declines and Mt. Gox-related selling pushed Bitcoin down to the $64,000 mark.

Michigan Retirement System, which oversees some $143.9 million in pension fund assets for state employees, has invested $6.6 million in the ARK 21Shares Bitcoin ETF, it disclosed in a regulatory filing on Friday.

You can now invest in ether (ETH), the native token of the Ethereum blockchain, by putting money into one of the nine spot ether exchange traded funds that began trading Tuesday. But should you?

Bitcoin, which traded near $65,000 yesterday, was recently back above $67,000 as the Bitcoin 2024 conference continues in Nashville.

July had a good run despite the bloodbaths, marked by the launch of Ethereum ETFs. With August set to be the start of an up-only trend, the three altcoins to hold amid the ETH ETF buzz are Notcoin (NOT), Bonk (BONK) and DTX Exchange (DTX).

In the race for cryptocurrency ETF approval, Solana stands out with promising prospects, potentially edging ahead of XRP. At the moment, Solana’s price stands at $179.82, with a notable 24-hour trading volume of approximately $3.28 billion.

The municipal pension plan of Jersey City, New Jersey, is set to venture into the realm of Bitcoin through exchange-traded funds (ETFs).

US-based spot Ethereum exchange-traded funds (ETFs) experienced mixed flows on their third day of trading, mainly due to significant outflows from Grayscale’s Ethereum Trust.

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