Bitcoin ETFs Approved: The Industry Reacts
In a milestone for crypto adoption, the SEC today approved the trading of Bitcoin exchange-traded funds (ETFs). CoinDesk rounded up reaction from across the crypto industry to the news.
Finance
Bitcoin ETF Listings Will Be Quick but Money Flows Could Take Months: 21Shares Co-Founder
Ophelia Snyder says it is impossible to conceptualize the changes in bitcoin trading volumes likely through ETF inflows.
Tokenized Treasuries’ Surging Demand Prompts Yield-Bearing Offering by Enigma Securities
U.S. Treasuries are a gateway for tokenization efforts, and has grown to a $850 million market from $100 million over the past year, rwa.xyz data shows.
El Salvador’s BTC Bet Is $13M in Profit as Bitcoin ETF Approval Approaches
El Salvador is sitting on a $12.6 million unrealized profit on its bitcoin investment after being in the red for two years.
Bitwise Tops Bitcoin ETF Low-Fee Table, While Grayscale Bets on Size
Just one potential spot bitcoin ETF issuer has set a management fee above 1%, and many of the others are asking for less than 0.5%.
Grayscale Announces 1.5% Fees for Its Proposed Bitcoin ETF Uplist
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).
BlackRock, Other Potential Bitcoin ETF Providers Reveal Fees
BlackRock said its fee will start at 0.20%, rising to 0.30%.
ARK’s ETF Rebalancing Continues With $20.6M Coinbase Sale
ARK Invest has a target of no individual stock surpassing 10% weighting of an ETF’s value. COIN doubled in price in the last three months of 2023, bringing about consistent sales of the crypto exchange’s stock by ARK.
VanEck to Donate 5% of BTC ETF Profits to Bitcoin Core Developers
The move is reminiscent of a similar pledge by VanEck to donate 10% of profits from its ether futures ETF to Ethereum developers in October last year.
Bitcoin ETF Fees Will Play Critical Role in the Race to Popularity
So far, only six potential spot bitcoin ETF issuers have revealed their charge, and Fidelity is the cheapest.