Better Markets, a financial nonprofit organization, has lashed out against approving a spot ether ETF product, stating that it would endanger the broader financial system. In a supplemental comment letter sent to the SEC, the organization states that approving these spot ether ETPs would “interweave the crypto industry with traditional finance,” aggravating systemic risks introduced […]
According to 13F filings with the U.S. Securities and Exchange Commission (SEC), Millennium Management, a highly successful hedge fund, holds nearly $ 2 billion in spot bitcoin exchange-traded fund (ETF) shares. This week, it was further revealed that Morgan Stanley, a giant multinational investment and financial services firm, also has exposure to spot bitcoin …
Wells Fargo, a major US banking entity, is now storing a spot bitcoin ETF for its customers, as revealed in a new SEC filing, holding 2,245 shares of the Grayscale Bitcoin Trust (GBTC), which was recently converted into an ETF. Though the value of these shares stands at $ 121,207, a small fraction of …
On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) registered their fifth consecutive day of net withdrawals, documenting a substantial $ 161.6 million in negative outflows. Over the last two days, Grayscale’s Bitcoin Trust (GBTC) has offloaded 1,731.56 BTC, diminishing its reserves to 296,713.90 BTC. Bitcoin ETFs Continue to See Persistent Outflows Since April 24, …
Hong Kong’s debut of six spot bitcoin and ethereum exchange-traded funds (ETFs) garnered HK$ 87.5 million ($ 11 million) on their first day, April 30. However, these ETFs underperformed compared to their U.S. counterparts, which had attracted a much larger sum of $ 4.6 billion on their initial day. Despite High Hopes, …