Bitcoin ETF Debut Serves as a Lesson for Ether ETF Speculators
Several firms have filed applications for spot ether ETFs, including BlackRock.
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Several firms have filed applications for spot ether ETFs, including BlackRock.
Bitcoin ETFs clocked up some $4.6 billion in volumes on their first day, but market volatility hit futures speculators as prices whipsawed.
They make the asset class “less of a scary concept” to mainstream audiences, bitcoin advocate Jameson Lopp said.
The exchange-traded funds will allow better access to bitcoin through regulated entities and draw institutional investors, but the crypto is still a very small asset class, CoinDesk was told.
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler conceded that the regulator’s loss in court over rejecting Grayscale’s application for a spot bitcoin exchange-traded fund (ETF) left it little recourse but to approve about a dozen such proposals Wednesday.
While most market watchers are focused on bitcoin ETFs at the moment, Decentralized Physical Infrastructure Networks (DePIN) and Real World Assets (RWA) hold a lot of long-term promise, says Colton Dillion, CEO of Hedgehog.
Cramer’s picks have the tendency to move in the opposite direction he touts.
The entire crypto world and much of the U.S. financial sector is anxiously awaiting word from the U.S. Securities and Exchange Commission (SEC) on whether it will approve a spot bitcoin exchange-traded fund (ETF). SEC Chair Gary Gensler has chosen this moment to issue a broad warning about the hazards to investors of getting into digital assets.
Grayscale, which has some $27 billion in assets under management (AUM), said it was adding Jane Street, Virtu, Macquarie Capital and ABN AMRO Clearing as authorized participants (APs).
Two influential analysts have tipped odds at over 90% ahead of the Securities and Exchange Commission decision.