Spot Price Financial News

VanEck, ARK Investment Management and seven other issuers have filed with the SEC to list ETFs that would track the spot price of the world's second-largest cryptocurrency after bitcoin. The SEC must decide on VanEck's and ARK's filings, which are first in line, by May 23 and May 24 respectively.

The company's stock has more than doubled this year, while bitcoin has gained more than 50%, fueled by the U.S. securities regulator's January approval of exchange-traded funds (ETFs) tied to the spot price of the cryptocurrency.

Investors have poured $1.9 billion into nine new exchange-traded funds tracking the spot price of bitcoin in their first three days of trading, data from issuers and analysts showed, with fund giants BlackRock and Fidelity pulling in the lion's share of the flows. Collective flows to the nine funds outpaced post-launch flows into the ProShares Bitcoin Strategy ETF, which drew a record $1.2 billion in the first three days of trading after its 2021 launch. The SPDR Gold Shares ETF attracted $1.13 billion in the first three days after its 2004 launch. Investments in the long-awaited ETFs — launched on Jan. 11, a day after receiving approval from the U.S. Securities and Exchange Commission (SEC) — fell short of the most aggressive estimates of first-day flows in the billions of dollars.

Fund inflows to exchange traded funds (ETFs) tied to the spot price of bitcoin dropped to about $200 million on the second day of trading after attracting $629 million on their debut on Jan. 11, early estimates from J.P. Morgan showed. Eleven such ETFs, with total assets under management worth $27.9 billion, entered the U.S. stock market in a watershed moment for the cryptocurrency industry after years of regulatory tussle over investor protection. So far, ETFs by BlackRock and Fidelity have attracted the most funds at nearly $500 million and $423 million, respectively, in the first two days of trading, the brokerage estimated. However, details on fund flows from issuers such as Bitwise, Franklin and VanEck are still awaited.

Investing.com — The spot price of gold fell back on Wednesday to under the key $1,900 level critical to those long on the yellow metal as the dollar pressed forth its rebound from 15-month lows. 

Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC), is trading close to 50% below the BTC price on spot markets.