Crypto lending firm BlockFi has formed a business with New York-based investment management company Neuberger Berman for the development and distribution of crypto products including exchange-traded funds. In an Oct. 25 announcement, BlockFi said the joint venture, BlockFi Nb, expects to “launch crypto asset management products, including ETFs and other traditional structures,” giving investors exposure to crypto in their brokerage accounts. According to the two firms, the partnership will combine BlockFi’s retail and institutional crypto solutions with Neuberger Berman's suite of crypto strategies. "We are witnessing a significant shift in investor sentiment towards digital assets, and we believe that digital …

Eight years in the making, the United States Securities and Exchange Commission’s (SEC) silent approval of a Bitcoin (BTC) exchange-traded fund (ETF) last week elicited a wave of exuberance in the crypto space and sent the price of the key digital currency to a new all-time high. Despite some analysts and industry participants having reservations regarding the nature of the approved product — ProShares Bitcoin Strategy ETF (BITO) and Valkyrie Bitcoin Strategy ETF (BTF) being futures-based rather than tracking Bitcoin’s spot price — the development has been overwhelmingly hailed as a breakthrough moment in crypto history. Ahead of BITO’s momentous …

Bitcoin (BTC) has a long history of forming local tops when events that are anticipated by the market occur. The recent Bitcoin exchange-traded fund (ETF) launch on Oct. 19 was no different and led to a 53% monthly rally to an all-time high at $67,000. Now that the price has briefly fallen below $60,000, investors are attempting to understand if the 10% correction was a healthy short-term profit taking or the end of the bull run. To determine this, traders need to analyze BTC's previous price activity to evaluate the possible similarities. The chart above depicts the day of a …

With regulatory bodies rumored to soon accept a pure Bitcoin (BTC)-backed exchange-traded fund, it is important to understand the journey of some of the first crypto-based ETFs that have recently been approved by government agencies. The United States Securities and Exchange Commission approved a Bitcoin-adjacent ETF, giving investors the opportunity to gain exposure to Bitcoin through the stock markets, and the most recent acceptance was that of the ProShares Bitcoin Strategy ETF, which started trading on NYSE Arca on Oct. 19. It's important to note that the aforementioned exchange-traded funds are not pure-crypto ETFs and merely track either crypto-related company …

Wall Street opened its doors for the first Bitcoin (BTC) exchange-traded fund (ETF) on Oct. 19, with the listing of ProShares Bitcoin Strategy (BITO) on the New York Stock Exchange. The fund attracted more than $1 billion in trading volume on its first day, while BTC price rallied to a new record high of $67,000. But the spot gains did not stay for too long with BTC paring some gains going into the weekend. Bitcoin price corrected by almost 11% from its all-time high to reach levels below $60,000 on Saturday, raising fears about selloffs that typically come after the …

A lot of excitement radiated out of New York this week with the launch of the first Bitcoin exchange-traded fund (ETF) sanctioned by the United States Securities and Exchange Commission. The ProShares Bitcoin Strategy ETF (BITO) had a stunning debut on the New York Stock Exchange as the second-most heavily traded opening-day fund on record, with some calling it “a watershed moment for the crypto industry.” But others, like Arca CEO Rayne Steinberg, had “mixed feelings” about the events. While pleased that a much-awaited crypto investment vehicle finally received regulatory approval — ending eight years of futility on the part …

The second Bitcoin (BTC) futures-linked exchange-traded fund in the United States began trading on the Nasdaq, opening at a price of $25.52 per share. According to the Nasdaq, digital asset manager Valkyrie’s Bitcoin Strategy ETF, the second exchange-traded fund allowing U.S. investors direct exposure to cryptocurrency futures, opened at a price of $25.52 per share of BTF before dropping 3.3% to reach $24.66 at the time of publication. The exchange-traded fund is aimed at tracking the value of BTC futures listed on the Chicago Mercantile Exchange, or CME. "This Bitcoin Strategy ETF is a major leap forward for this asset …

The ProShares Bitcoin Strategy exchange-traded fund (ETF) is on track to reach a limit on the number of futures contracts it’s allowed after quickly becoming a little too popular. After just a couple of days of trading, the ProShares ETF has reached 1,900 contracts sold for October and there is a 2,000 front-month limit imposed by the Chicago Mercantile Exchange. There are already 1,400 contracts for November and there is an overall maximum limit of 5,000 open contracts according to Bloomberg. One solution could be to offer longer contracts, but that would carry the danger of too much distancing from …

Two or three weeks ago, when Bitcoin (BTC) was trading below $52,000, a trader betting on $65,000 by Oct. 22 would have been considered extremely optimistic. The fact that 98% of the put (sell) options for Bitcoin's weekly options expiry on Oct. 22 has been placed below that price proves that this is true. Fast forward to this week, and the successful launch of the first BTC exchange-traded fund (ETF) in the United States and news that Digital Currency Group (DCG), the parent company of the Grayscale Bitcoin Trust, increased its limit to acquire up to $1 billion worth of …

The odds of the United States Securities and Exchange Commission (SEC) approving a Bitcoin (BTC) exchange-traded fund (ETF) before a physical Bitcoin ETF are higher than ever, courtesy of Chairman Gary Gensler’s now oft-repeated preference for the former. But here’s the issue: an ETF built around crypto futures isn’t the most efficient, economical or easiest route. Physically backed products are. They’re likely to attract more assets and open the crypto market to more investors. And they are much easier for investors to understand. This is why fund issuers are better off pressing the SEC for clarity on what’s needed to …

Valkyrie’s Bitcoin (BTC) futures-based exchange-traded fund (ETF) is poised to follow the launch of ProShares’ Bitcoin Strategy ETF on Friday. Valkyrie Bitcoin Strategy ETF is finally effective and is set to start trading on Nasdaq under the ticker BTF on Friday, Valkyrie confirmed to Cointelegraph on Thursday. The launch comes after the United States Securities and Exchange Commission granted a notice of effectiveness to Valkyrie Bitcoin Strategy ETF on Thursday. According to Leah Wald, CEO of Valkyrie Funds, the upcoming launch of Valkyrie’s Bitcoin futures ETF marks an important milestone in the relationship between the cryptocurrency industry and U.S. regulators. …

Bitcoin (BTC) broke its all-time high price level following the launch of ProShares’ Bitcoin Strategy exchange-traded fund (ETF), BITO, on Tuesday, but JPMorgan Chase strategists believe the key driver behind the price jump is investor concern over inflation. The BITO launch, which saw the highest-ever first-day natural volume for an ETF, is “unlikely to trigger a new phase of significantly more fresh capital entering Bitcoin,” JPMorgan strategists said in a note. Instead, JPMorgan believes that as gold failed to respond to concerns over rising cost pressures in the last couple of weeks, Bitcoin’s renewed role as a better hedge against …