ETF Financial News

FTX has sold 22 million shares worth close to $1 billion in Grayscale Bitcoin Trust (GBTC) since it was converted into an exchange-traded fund (ETF) earlier this month, taking FTX's GBTC ownership down to zero, CoinDesk reported on Monday. GBTC in all saw outflows of more than $2 billion since being converted into ETF, according to the report, which cited private data reviewed by CoinDesk and two people familiar with the matter.

In just six days of trading, the recently approved spot Bitcoin exchange-traded funds (ETFs) have collectively accumulated an impressive 95,000 BTC, with total assets under management (AUM) inching close to the $4 billion mark.

Hong Kong may witness the launch of its first spot crypto exchange-traded funds (ETFs) by the middle of this year.

Cryptocurrency management company Pantera Capital has released its yearly projections on Bitcoin (BTC) and the wider industry with expectations of more bullish activity for the market leader.

Bitcoin (BTC) investors should brace themselves for potential price stagnation or even a decline as the liquidation of $25 billion worth of Grayscale Bitcoin Trust (GBTC) looms.

Bitcoin completed 15 years of its existence. Although the maiden crypto token trades above $41,500 per unit in the international crypto exchanges, its glory was conspicuously missing in the early days of inception. Did you know that the first-ever transaction carried out in bitcoins took place on May 22, 2010 when 10,000 bitcoins were paid to buy two Papa John’s pizzas? Did you also know that it took three years and ten months for bitcoin to touch $1,000 for the first time? Cut to Jan 10, 2024, US markets regulator Securities and Exchange Commission (SEC) gave a green signal to spot bitcoin ETF, garnering an investment to the tune of $4.6 billion within a couple of days.

In the dynamic realm of cryptocurrency, Bitcoin (BTC) has experienced a notable shift, currently trading at $41,068, marking a 1.70% decrease on Monday. This change occurs amidst significant developments in the crypto landscape, including the remarkable growth of Bitcoin ETFs, which have swiftly reached $4 billion in assets under management (AUM) by accumulating an impressive 95,000 BTC in a mere six days.

TLDR 

In 2017, legendary investor Jack Bogle famously warned people to“avoid bitcoin like the plague.” More than six years later, Vanguard Group Inc. is still stoking the crypto world’s ire by sticking to the conservative investing approach of its late founder.

Stocks on Wall Street finished higher on Friday to notch another winning week as big tech shares rallied amid ongoing expectations the Federal Reserve will cut interest rates in 2024.

Exchange-traded fund experts anticipate spot bitcoin ETFs, which debuted this month, to spark a new wave of crypto products.

bitcoin began trading last week, making it easier for anyone with a basic brokerage account to buy a slice of the digital currency. Several established financial institutions, including Fidelity and BlackRock, have coalesced around bitcoin because it is the world's first and largest cryptocurrency.

bitcoin began trading last week, making it easier for anyone with a basic brokerage account to buy a slice of the digital currency. Several established financial institutions, including Fidelity and BlackRock, have coalesced around bitcoin because it is the world’s first and largest cryptocurrency. But bitcoin remains an enigma to most everyday investors, and it’s hard to separate the buzz from any true potential. It’s also wildly volatile. In other words, it’s a bet. And institutions are wagering that plenty of investors want in.

Exchange-traded funds come in many shapes and sizes. Some are plain vanilla, diversified index funds that let you invest in the entire stock and bond markets, and are excellent core holdings for the great majority of people. Then there are the quirky, narrowly focused ETFs like the Inverse Cramer Tracker, which enables you to bet against the stock picks of CNBC television host Jim Cramer. The fund is legal, approved by the Securities and Exchange Commission — and a money-loser since its inception last year. Betting against Jim Cramer just isn’t a great investing strategy. Neither is fear of missing out. Yet FOMO is the main reason for putting money into bitcoin, which remains highly speculative, difficult to categorize and without an immediately identifiable economic function. The SEC this month approved 11 new ETFs that track the price of bitcoin, and the decision has been heralded by promoters of bitcoin — and of the new funds — as an important event, legitimizing bitcoin as an asset class.

ARK Investment Management CEO Cathie Wood believes Bitcoin (BTC) could soon be nearly as valuable as gold, according to a recent interview she conducted with Brazilian financial markets information firm, InfoMoney.

Hong Kong-based Venture Smart Financial Holdings Limited (VSFG) is gearing up to seek approval from the Securities and Futures Commission (SFC) for the introduction of a Bitcoin spot exchange-traded fund (ETF).

Cryptocurrency markets have rallied while awaiting the approval of a Bitcoin ETF for months.

Hiren S Thakkar & Associates Chartered Accountants. In an interview with MintGenie, Thakkar said that in GST, there could be some rationalisation of rates because many basic necessity items are taxed at a higher band of 18 percent like health insurance premiums, ice-creams, biscuits, etc. Edited Excerpts: Budgets before elections are generally populist, and no drastic changes are expected.

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In a dynamic turn of events, Bitcoin’s price plummeted to $40,930, marking a significant nearly 4% decrease as of Friday. This downturn comes amid a broader context of financial uncertainty, where the US Dollar is poised for a consecutive weekly rise due to subdued expectations for interest rates. Adding to the complexity of the crypto market, Fidelity’s anticipated Ether ETF faces delays, attributed to a surge in investor demand for more leveraged Bitcoin ETFs.

Cryptocurrency markets were trading lower in Friday's trade due to heavy outflows in ETFs. Bluechip crypto token BTC fell 3.2% to $41,381 in early trading on Friday, while Ethereum fell 2.5% to $2,467. «The crypto market is witnessing an unexpected downward trend as Bitcoin faces selling pressure due to heavy outflows from Exchange Traded Products (ETPs) to new spot ETF issuers,» said Shivam Thakral, CEO of BuyUcoin. «For example, Blackrock’s Bitcoin ETF accumulated $1 billion worth of BTC in just one week, which means there is a heavy outflow of Bitcoin to such regulated ETFs. We can expect the Bitcoin price to rise once this transition cools down and investors are done with profit booking,» he said. Other major altcoins, such as Solana and Avalanche, fell over 6% each. Also, Cardano, XRP, Dogecoin, Polkadot, Chainlink, Toncoin, Polygon, Internet Computer and Shiba Inu declined.