ARK Investment Management, an investment firm founded by veteran investor Cathie Wood, is taking another try to launch a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States. ARK Invest submitted on May 13 yet another application for its physical Bitcoin ETF, the ARK 21Shares Bitcoin ETF, according to a filing with the U.S. Securities and Exchange Commission (SEC). The application includes a proposed rule change from the Chicago Board Options Exchange (CBOE) BZX Exchange. According to Bloomberg ETF analyst Henry Jim, the latest deadline for approval or disapproval of the ARK 21Shares Bitcoin ETF is January 24, 2023. …

Digital asset investment products saw $141 million in outflows during the week ending on May 20, a move that reduced the total assets under management (AUM) by institutional funds down to $38 billion, the lowest level since July 2021. According to the latest edition of CoinShare’s weekly Digital Asset Fund Flows report, Bitcoin (BTC) was the primary focus of outflows after experiencing a decline of $154 million for the week. The removal of funds coincided with a choppy week of trading that saw the price of BTC oscillate between $28,600 and $31,430. Despite the sizable outflow, the month-to-date BTC flow …

Crypto investment giant Grayscale is expanding operations by launching a new crypto-linked exchange-traded fund (ETF) in Europe. Grayscale officially announced its first European ETF, called Grayscale Future of Finance UCITS ETF, on Monday. A spokesperson for Grayscale told Cointelegraph that the ETF will begin trading on Tuesday. The new investment product is getting listings on major European stock exchanges, including the London Stock Exchange, Borsa Italiana as well as Deutsche Börse’s electronic trading platform Xetra. Listed under the ticker symbol GFOF, the ETF will also be passported for sale across Europe. An exciting milestone: Announcing our first European ETF, Grayscale …

This week the crypto market endured a sharp drop in valuation after Coinbase, the leading U.S. exchange, reported a $430 million quarterly net loss and South Korea announced plans to introduce a 20% tax on crypto gains. During its worst moment, the total market crypto market cap faced a 39% drop from $1.81 trillion to $1.10 trillion in seven days, which is an impressive correction even for a volatile asset class. A similar size decrease in valuation was last seen in February 2021, creating bargains for the risk-takers. Even with this week’s volatility, there were a few relief bounces as …

Bitcoin (BTC) descending to $24,000 has cost its largest institutional investment vehicle more than the average hodler. According to data from on-chain monitoring resource Coinglass on May 13, the Grayscale Bitcoin Trust (GBTC) is now trading at a nearly 31% discount. Grayscale CEO: Investors are "waiting for things to settle down" Amid ongoing market volatility this week, GBTC has seen its fledgling recovery fall flat on its face — for the time being. The so-called GBTC premium, long in negative territory and thus a discount in practice, has now reached its lowest ever. As of May 13, the discount was …

Despite the growing adoption of various cryptocurrency exchange-traded funds (ETFs) all over the world, the global trading community continues to ask one question: When will a spot Bitcoin (BTC) ETF go live in the United States? According to some ETF analysts, a spot Bitcoin ETF could become real in mid-2023, following years of rejection by the U.S. Securities and Exchange Commission (SEC). Despite the SEC’s apparent unwillingness to allow such a product, industry players like Grayscale continue to actively push for a spot BTC ETF. There are a decent number of reasons why a potential approval of a spot Bitcoin …

With crypto markets tanking, three crypto-focused exchange-traded funds (ETFs) picked a difficult day to commence trading on local exchange Cboe Australia today. The trio’s launch marks the first crypto ETFs to go live in Australia, with two of them focused on offering exposure to Bitcoin (BTC), and the other focused on Ether (ETH). So far, the three ETFs have generated more than $1.3 million between them, and it has been estimated that they could see around $1 billion worth of inflows moving forward. The Cosmos Purpose Bitcoin Access ETF (CBTC) from Sydney-based crypto investment firm Cosmos Asset Management offers a …

Australians will soon have more options for spot cryptocurrency exchange-traded funds (ETFs) after a previous hold-up was given the green light this week and new funds entered the ETF market. The latest update came late on Monday as Cboe Australia issued a round of market notices that three funds previously delayed are expected to begin trading on May 12. They include a Bitcoin (BTC) ETF from Cosmos Asset Management, plus BTC and Ether (ETH) spot ETFs from 21Shares. Cboe Australia and Cosmos did not immediately respond to a request for comment, but a spokesperson from 21Shares confirmed to Cointelegraph: “We’re …

The United States Securities and Exchange Commission (SEC) has given the green light to Valkyrie’s futures exchange-traded fund (ETF) application. This represents another ETF that has been approved by the SEC, which has previously accepted futures ETFs, but no sign of spot ETFs yet. According to the SEC document published Thursday, the application was filed under the Securities Exchange Act of 1934 using a 19b-4 form, the same law that spot Bitcoin (BTC) ETF prospects are relying on — albeit with little success thus far. Last month, the watchdog gave the thumbs-up to Teucrium’s Bitcoin futures ETF, which is the …

Anthony Scaramucci, the founder of the hedge fund SkyBridge Capital, thinks that the next United States presidential candidate will likely be pro-cryptocurrency, given that the U.S. Securities and Exchange Commission (SEC) recently announced the approval of a fourth Bitcoin (BTC) futures exchange-traded fund (ETF). During an interview at SALT’s Crypto Bahamas conference, Scaramucci told Cointelegraph that he has been bullish on a pro-crypto presidential candidate since the SEC approved Bitcoin futures under the Securities Act of 1933 (‘33 Act) and the Securities Act of 1934 ('34 Act). He added: “The Congress is indicating that they are more crypto-friendly. You now …

BlackRock has officially launched a blockchain-focused exchange-traded fund (ETF) that provides investors with exposure to the crypto and blockchain industry without needing to directly own digital assets. On Wednesday, the world’s largest asset manager, which currently manages approximately $10 trillion in assets, added the Blockchain and Tech ETF (IBLC) to its iShares product line. The $4.7 million ETF does not directly own cryptocurrencies or digital assets themselves but instead tracks an array of international companies that are involved in the industry. The ETF is comprised of 41 separate holdings, with the largest single holding being United States-based crypto exchange Coinbase …

Digital asset manager Grayscale Investments is planning to expand its product offerings into Europe to tap into growing institutional demand for cryptocurrencies in the region, CEO Michael Sonnenshein confirmed Tuesday. In an interview with Bloomberg, Sonnenshein said the company was holding meetings with local partners to discuss how Grayscale’s suite of products would be rolled out in the region. The company hasn’t made any definitive plans regarding which exchanges and countries would be supported initially, though Grayscale plans to launch pilot tests in several markets across the European Union. Sonnenshein explained that Grayscale would be looking at investor behaviors and …