BlackRock Sees Sovereign Wealth Funds, Pensions Coming to Bitcoin ETFs
The asset manager has been helping educate pension funds, endowments and sovereign wealth funds about the new spot bitcoin ETF products, the firm’s head of digital assets said.
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The asset manager has been helping educate pension funds, endowments and sovereign wealth funds about the new spot bitcoin ETF products, the firm’s head of digital assets said.
Zhu Haokang is head of digital asset management and family wealth at one of the ETF providers, ChinaAMC.
One of the issuers waived management fees for the first six months, undercutting rival offerings.
Hong Kong could approve approve spot bitcoin (BTC) and ether (ETH) exchange-traded funds as early as Monday, Bloomberg said, citing two people familiar with the matter.
The U.S. Securities and Exchange Commission has opened the window for comments on three ether spot exchange traded fund (ETF) proposals.
CoinDesk reported Wednesday that the Ethereum Foundation faces a confidential inquiry, and Fortune said the SEC is examining whether ETH is a security.
Odds that spot ether ETFs will get approved in May have gotten slimmer, according to a Bloomberg ETF analyst who cited U.S. regulators’ seeming lack of engagement with potential issuers over the products.
Money management giant Fidelity wants to allow traders of its potential ethereum fund to be able to stake some of the assets, it wrote in an amendment with the U.S. Securities and Exchange Commission (SEC).
The bank also predicted that approval of an ether ETF could be expected on May 23, leading to as much as $45 billion of inflows in the first 12 months and ETH climbing to $8,000 by the end of 2024.
Senators say that retail investors face “enormous risks” from such products because thin order books for some cryptocurrencies.