Bitcoin ETF
Bitcoin ETFs Continue Inflow Streak as BTC Remains Flat Amid China Holiday
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5 hours agoon
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admin“Looking forward, if the economy evolves broadly as expected, policy will move over time toward a more neutral stance. But we are not on any preset course,” Powell said. “The risks are two-sided, and we will continue to make our decisions meeting by meeting.”
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Bitcoin ETF
SEC OKs options trading for BlackRock iShares Bitcoin Trust
Published
1 week agoon
September 21, 2024By
adminThe U.S. Securities and Exchange Commission granted approval for Nasdaq to list and trade options on BlackRock’s iShares Bitcoin Trust.
Per the details shared in the official filing on Sept. 20, the SEC’s approval comes after a lengthy review process that started on Jan. 9, 2024. That was when Nasdaq initially filed the proposal to trade options on exchange-traded products.
Nasdaq consistently followed up on its proposal with multiple amendments, which began on Jan 11. Over the following months, the exchange submitted additional amendments and information regarding IBIT and other Bitcoin-based (BTC) ETPs.
SEC’s approval involved multiple stages of review
After almost eight months of review, the SEC finally gave the greenlight for Nasdaq’s proposal. The commission stated that the exchange even proposed to modify its rules to list and trade options on IBIT.
According to the official filing, options on IBIT will be physically settled with American-style exercise. Nasdaq also highlighted that IBIT options will be under the exchange’s continued listing standards.
“Options on IBIT will be subject to the Exchange rules that currently apply to the listing and trading of all ETF options on the Exchange,” the filing reads.
Crypto analysts say decision is bullish
Reacting to the SEC’s decision, several key crypto traders and analysts took to X to share their opinion. Crypto trader Ash Crypto tweeted that this is ultra bullish.
Senior ETF analyst Eric Balchunas also shared details of the approval on X. Balchunas tweeted his assumption that others will be approved in short order.
See below.
Balchunas also pinpointed this as a huge win for the Bitcoin ETFs, stating that this will attract more liquidity. However, he highlighted the fact that this is “just one stage of approval.”
The proposal still needs approval from the OCC and CFTC before the official listing.
“I’m assuming others will be approved in short order,” Balchunas added, calling it a “huge win” for Bitcoin ETFs “as it will attract more liquidity which will in turn attract more big fish.”
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Bitcoin ETF
BlackRock Releases a New Report, "Bitcoin: A Unique Diversifier"
Published
2 weeks agoon
September 18, 2024By
adminAsset management giant BlackRock, with over $10 trillion in assets under management, has published a new report touting Bitcoin as a unique portfolio diversifier. This marks the latest embrace of Bitcoin from the world’s largest asset manager.
Earlier this year, BlackRock launched a Bitcoin exchange-traded fund (IBIT), rapidly becoming one of the most successful ETF launches ever. The Bitcoin ETF already has over $21 billion in assets under management.
BlackRock CEO Larry Fink also recently changed his sceptical stance on Bitcoin, admitting he was “wrong” to dismiss it. The firm has steadily released research explaining Bitcoin’s potential role for investors.
The new report explains that while volatile, Bitcoin is fundamentally detached from other asset classes over the long term. It argues Bitcoin’s adoption depends on global concerns over monetary stability, geopolitics, fiscal policy, and political stability – the inverse of traditional “risk assets.”
“Bitcoin, as the first decentralized, non-sovereign monetary alternative to gain widespread global adoption, has no traditional counterparty risk, depends on no centralized system, and is not driven by any one country’s fortunes,” the report states.
As major traditional finance players like BlackRock increasingly embrace Bitcoin, its reputation and adoption will likely accelerate, bringing it further into the mainstream. BlackRock’s continued pro-Bitcoin stance reflects growing acceptance by global financial institutions.
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Bitcoin
Spot Bitcoin and Ethereum ETFs log joint negative flows
Published
3 weeks agoon
September 12, 2024By
adminSpot Bitcoin and Ethereum exchange-traded funds in the United States experienced joint outflows on Sept. 11 following the joint positive flows recorded the previous day.
According to data from SoSoValue, the 12 spot Bitcoin ETFs in the U.S. logged a net outflow of $43.97 million on Sept. 11, ending their two-day streak of positive flows.
Interestingly, ARK 21Shares’ ARKB recorded the largest outflows among the ETFs yesterday, with $54 million in withdrawals, as reported by SoSoValue. Grayscale’s GBTC followed with net outflows amounting to $4.6 million, while its Bitcoin Mini Trust registered outflows of approximately $511,230.
On the other hand, Fidelity’s FBTC led the inflows for the day, recording $12.6 million in net additions. Invesco’s BTCO followed with $2.6 million in inflows. The remaining seven BTC ETFs including BlackRock‘s IBIT saw no trading activity on the day. Notably, IBIT, the largest spot BTC ETF by net assets has not seen any net inflows since Aug. 26.
Overall, these ETFs have seen net positive flows in the last three days, with total inflows into all spot BTC ETFs at approximately $101.7 million.
Total trading volume for the 12 BTC ETFs jumped to $1.27 billion on Sept. 11, significantly higher than the $717 million seen the previous day. These funds have recorded a cumulative total net inflow of $17 billion since inception. At the time of writing, Bitcoin (BTC) was up 2.7% over the past day, trading at $57,932, per data from crypto.news.
Meanwhile, the nine U.S. spot Ethereum ETFs also recorded a net outflow of $542,870 on Sept. 11, led by VanEck’s ETHV with $1.7 million in outflows. Fidelity’s FETH was the only ETF to record inflows, at $1.2 million. However, it was significantly lower than ETHV’s outflows and could not offset the overall loss.
The remaining Ether ETFs remained neutral on that day.
These investment vehicles have also seen their daily trading volume rise to $126.2 million on Sept. 11, a jump over the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $562.6 million to date. At the time of publication, Ethereum (ETH) was also up by 1%, exchanging hands at $2,354.
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