ETF Financial News

ETC Group, a prominent provider of digital asset-backed securities, has expanded its cryptocurrency product range by introducing an  Ethereum (ETH)  staking exchange-traded product (ETP). 

Sebi's proposal of allowing mutual fund houses to have a single fund manager to oversee commodity and foreign investments is aimed at reducing the cost of managing the fund, a top official of Anand Rathi Wealth said on Tuesday. Sebi, on Friday, came out with a consultation paper proposing measures to support ease of doing business for Mutual Funds (MFs). In the draft paper, the regulator suggested appointing a single fund manager for domestic and overseas/commodity funds, relaxation of nomination requirement for joint holders and streamlining of prudential norms for passive schemes with respect to exposure to a single issuer within the AMC's group companies. This came after the Finance Minister in the FY24 Budget made an announcement to simplify, ease and reduce cost of compliance for participants in the financial sector through a consultative approach.

SINGAPORE (Reuters) -Bitcoin hit a two-year high on Tuesday on signs of large players buying the cryptocurrency, while smaller rival ether topped $3,200 for the first time since 2022.

The price of the leading cryptocurrency Bitcoin rallied over 10% to soar above $57,000 for the first time since November 2021. The price rally caused total shorts positions to bleed over $268 million in the last 24hrs, including $158 million in bitcoin shorts, as per Coinglass data.

Bitcoin price soared to a two-year high, touching nearly $57,000 in Asian trading, marking a significant milestone in the cryptocurrency’s journey.

Bitcoin rose to the highest in more than two years, climbing above $54,000, amid growing optimism that persistent investor demand through exchange-traded funds will drive the price of the largest cryptocurrency back to record levels. “Bitcoin continues its ascent, supported by strong ETF inflows,” said Spencer Hallarn, global head of over-the-counter trading at crypto investment firm GSR.

Digital asset investment funds recorded $598 million in inflows in the last seven days as Assets Under Management (AUM) reached $67.4 billion.

The technology sector has been a key driver of the S&P 500's strength, led by the Magnificent 7.

Grayscale’s flagship Bitcoin Trust GBTC has just recorded the lowest daily outflows since it converted to an ETF.

Billionaire investor Mike Novogratz believes many of the lawsuits brought under current Securities and Exchange Commission Chair Gary Gensler will be dropped. 

Cryptovsummit, an event organized by DoubleMorgan and led by its founder Mena Botros, has become a cornerstone in the crypto industry, particularly in the Dubai region. With a successful track record of five years, this annual event has consistently drawn investors, fostering crucial long-term business relationships. The upcoming edition on April 17th, 2024, in Dubai, U.A.E promises to be especially significant as it coincides with the Bitcoin halving, creating an atmosphere of anticipation for groundbreaking developments in the crypto space.

On Monday, Bitcoin’s current trading position at $51,500, with a slight decrease of 0.50%, hints at the market’s anticipation of its next move.

Nippon India Mutual Fund has decided suspension of subscription in its four schemes. The fund house informed about this to its unitholder through a notice-cum-addendum. The changes will be effective from February 26. The fund house informed that the lumpsum subscription, switch-ins and fresh registration of SIP/STP or such other special products under its overseas funds are being suspended temporarily.

Jupiter Asset Management recently moved to cancel its partnership with the 21Shares Ripple (XRP) exchange-traded product because of regulatory issues faced in Ireland. Jupiter invested over 2 million into the fund and didn’t lose much by pulling out of the investment.

Stocks on Wall Street closed higher on Friday to notch another winning week as the S&P 500 climbed above the 5,100-point level for the first time in history amid an ongoing rally in mega-cap tech shares.

On Sunday, Bitcoin demonstrates resilience with a 1.35% increase, trading at $51,600 on Sunday. This stability comes at a time when the Texas Blockchain Council and Riot Platforms achieve a notable legal victory against US energy regulators, securing a temporary restraining order that underscores the ongoing debate over cryptocurrency mining regulations.

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Cannabis stocks have been on a rollercoaster ride, going from a big boom in late 2019 to a crash in the following years.

In a year marked by Riot Platforms’ remarkable 19% increase in Bitcoin production and the Securities and Exchange Commission’s (SEC) review of Bitcoin ETF options by Bitwise and Grayscale, Bitcoin’s trading activity reveals a tightly bound range between $50,500 and $52,500.

₹1,699 crore exposure to global chipmaker Nvidia, which became the world’s fourth largest company by market capitalization after its quarterly earnings beat analyst expectations. The stock clocked one-day gains of 16% on Thursday, driven by optimism around artificial intelligence (AI), as Nvidia’s chips play a crucial role in developing AI models. According to Fisdom estimates, Motilal Oswal MF had ₹439 crore exposure to Nvidia.

Gatekeepers to the assets overseen by financial advisers — the holy grail in eyes of fund issuers — are being especially choosy when it comes to the pack of freshly launched US-listed spot bitcoin ETFs.