Three exchange-traded funds offered by Cathie Wood’s Ark Invest purchased 749,205 shares in Coinbase Global Inc. (COIN), worth roughly $246 million combined. The Ark Innovation ETF (ARKK) now holds 512,535 COIN shares, while the Ark Next Generation Internet ETF (ARKW) purchased 147,081 shares, and the Ark Fintech Innovation ETF (ARKF) bought 89,589. Ark’s funds were not the only ETFs accumulating COIN, with the Amplify Transformational Data Sharing ETF (BLOK) also getting in on the action. BLOK is among the most active ETFs in the crypto space, with seven of its 10-largest allocations operating in the blockchain industry and representing one-third …

Numerous United States exchange-traded funds are loading up on shares in the world’s top crypto firms. According to ETF.com, hundreds of funds have invested in publicly listed companies that are holding Bitcoin (BTC) on their balance sheets. As of this writing, 88 ETFs hold MicroStrategy shares, while 144 ETFs hold Square, and 222 ETFs hold Tesla. Sixteen ETFs have direct exposure to Bitcoin mining stocks. Almost 200 ETFs hold shares in BlackRock, which recently profited $360,457 after starting to “dabble a bit” in crypto. Top-performing ETFs with crypto exposure Nine funds are exposed to both crypto mining stocks and firms …

Major United States asset manager Grayscale has just surpassed $50 billion in cryptocurrency assets under management for the first time. Grayscale’s AUM is creeping ever closer to the $57-billion holdings of the largest commodity ETF. MILESTONE: We just reached $50 billion AUM. Yet another reason to #GoGrayscale. pic.twitter.com/Jrk7n6TAOI — Grayscale (@Grayscale) April 14, 2021 The company has plans to convert into an ETF when regulations allow. If the ETF had been approved already, Grayscale would be the second-largest commodity ETF behind SPDR Gold Shares. GLD is a physically backed gold exchange-traded fund with listings on stock exchanges in the U.S., …

The Purpose Investments ETF, the first Bitcoin (BTC) exchange-traded fund to launch in North America, has seen its assets under management soar to $1.1 billion less than two months after launching. Two Bitcoin ETFs that launched shortly after Purpose’s in Canada have also seen their AUM’s swell to a combined $200 million in the same time period, taking Canada’s combined Bitcoin ETF net value to around $1.3 billion. The Purpose Bitcoin ETF launched in late February and generated nearly $100 million in trading volume on its first day. The ETF accrued more than $500 million in assets under management in …

London-based ETC Group, the firm responsible for listing the first crypto exchange-traded product on Germany’s Xetra digital stock exchange, will offer a new listing for Litecoin. In an announcement today, the ETC Group said its physical Litecoin exchanged-traded crypto, under the ticker ELTC, will be launching on Deutsche Börse Xetra on April 14. According to the firm, the exchange-traded product, or ETP, will be the first Litecoin (LTC) product on the exchange following approval from Germany's Federal Financial Supervisory Authority, or BaFin. "The current economic uncertainty has underlined the attraction of crypto assets for investors as they offer opportunities for …

Galaxy Digital has submitted a Bitcoin (BTC) exchange-traded fund filing with the United States Securities and Exchange Commission. According to the form S-1 published by the SEC on Monday, the Galaxy Bitcoin ETF — if approved — will trade on the NYSE Arca exchange, with the Bloomberg Galaxy Bitcoin index tapped as the pricing mechanism. Detailing the price mechanism for the prospective Bitcoin ETF, the filing reads: “The end-of-day Index price is calculated using the Bloomberg Crypto Price Fixings (‘CFIX’) mid-price for bitcoin. CFIX is based on pricing provided by the Bloomberg Generic Price (‘BGN’) using Bloomberg’s data, technology and …

After rallying more than 100% in 2021, Bitcoin (BTC) seems to be struggling to turn the $60,000 level into support. After all, what is so special about this magic round number and its accompanying $1 trillion market capitalization? Gold's $11 trillion market cap might hold the answer, as Bitcoin's current trading volume and the amount held by institutional investors seem to match 10% of the precious metal's numbers. Technical indicators and derivatives data provide interesting short-term insights. But to analyze cryptocurrencies in a broader context, one should focus on market capitalization, precious metals and global wealth. More Bitcoins than in …

Reef Finance, a decentralized finance ecosystem powered by Polkadot, has released a new investment product aimed at helping passive investors gain access to a broader portfolio of cryptocurrencies. Reef Baskets V1 is described as an “Ethereum-based framework for deploying collections of DeFi tokens” and other crypto assets. It operates in a similar manner to exchange-traded funds, which are popular among traditional investors and institutional managers. Investors who use Reef Baskets have the opportunity to invest in multiple DeFi token baskets at the same time. Reef Finance describes its Baskets as a “quantitative approach to yield farming” that reduces an investor’s …

According to an analyst at CFRA Research, VanEck, Fidelity Investments, and Valkyrie Digital Assets may not see their Bitcoin exchange-traded funds, or ETFs, approved by U.S. regulators for up to two years. In an interview on CNBC’s ETF Edge Monday, Todd Rosenbluth, head of ETF and mutual fund research at CFRA, told host Bob Pisani that he believed the U.S. Securities and Exchange Commission, or SEC, would extend the timeline for considering the Bitcoin ETF first pitched by investment management firm VanEck in January. The SEC officially acknowledged receipt of the Bitcoin ETF application on March 15, giving the regulatory …

David Solomon, CEO of Goldman Sachs, has forecast a “big evolution” in how the United States government regulates Bitcoin and other cryptocurrencies in relation to financial institutions. In an interview with CNBC today, Solomon was quizzed on the banking giant’s moves to adopt Bitcoin (BTC). The CEO kept his cards close to his chest but conveyed that the bank is keeping a close eye on digital currencies amid increasing demand for crypto exposure from its clients: “We continue to think about digital currency and the digitization of money in a very proactive way, and in that context, we are engaged …

According to digital asset investment manager CoinShares, the first quarter of 2021 hit a new record for institutional crypto product inflows. As reported in CoinShares’ Tuesday “Digital Asset Fund Flows Weekly” bulletin, Q1 of this year hit a new record with $4.5 billion in inflows compared with $3.9 billion in the final quarter of 2020. It added that inflows for the past week recorded, which ended on Friday, totaled $106 million, helping push the total for the three-month period 11% higher than the previous quarter. The inflow was down on previous weeks, however, as the week ending March 12 recorded …

After several attempts in previous years, Grayscale has renewed its push to release a Bitcoin exchange-traded fund on American asset markets. According to a Monday roadmap, two of its funds, GBTC and ETHE, are on the short-list to become proper ETFs. However, the company has not indicated any concrete efforts, such as filing a new request with the SEC, nor has it provided meaningful timelines for these plans. Grayscale is one of the major providers of cryptocurrency exposure in traditional markets, operating several trust funds for major cryptocurrencies. These funds hold cryptocurrencies, such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash …