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🫡 The SEC Confirms To Most Likely Approve Ethereum ETFs
After yesterday’s surprising change in Ethereum ETF approval odds, according to analysts, the SEC staff today further confirmed that they are “inclined to approve” spot Ethereum ETFs, as reported by Barron’s. Previously, issuers like BlackRock, VanEck, and others had indicated that the SEC showed no interest in spot Ether ETFs, but this position appears to have shifted with the final decision expected later this week.
The regulator even offered feedback on the applications, suggesting that timely resolutions could lead to approvals as early as this week. VanEck and Ark Invest are set to receive the SEC’s decision on May 23 and May 24, respectively. In the meantime, Fidelity, a spot Ethereum ETF applicant, has revised its S-1 filing and eliminated the staking feature, possibly in accordance with SEC guidance.
#etf $ETH
After yesterday’s surprising change in Ethereum ETF approval odds, according to analysts, the SEC staff today further confirmed that they are “inclined to approve” spot Ethereum ETFs, as reported by Barron’s. Previously, issuers like BlackRock, VanEck, and others had indicated that the SEC showed no interest in spot Ether ETFs, but this position appears to have shifted with the final decision expected later this week.
The regulator even offered feedback on the applications, suggesting that timely resolutions could lead to approvals as early as this week. VanEck and Ark Invest are set to receive the SEC’s decision on May 23 and May 24, respectively. In the meantime, Fidelity, a spot Ethereum ETF applicant, has revised its S-1 filing and eliminated the staking feature, possibly in accordance with SEC guidance.
#etf $ETH
Wisconsin Purchases Nearly $100M in BlackRock Bitcoin ETF
Wisconsin has become the first U.S. state to purchase shares in a Bitcoin ETF, specifically BlackRock’s iShares Bitcoin Trust, acquiring 94,562 shares valued at nearly $100 million in Q1 of this year. Additionally, the State of Wisconsin Investment Board (SWIB) also bought approximately $64 million worth of shares in Grayscale’s Bitcoin Trust.
This move by a major institutional investor is noted as a significant indication of growing acceptance of cryptocurrency investments among traditional finance entities. SWIB, established in 1951, manages over $156 billion in assets, including those of the Wisconsin Retirement System and other state trust funds. The purchases were disclosed in line with the SEC’s 13F reporting requirements.
#etf #bitcoin
Wisconsin has become the first U.S. state to purchase shares in a Bitcoin ETF, specifically BlackRock’s iShares Bitcoin Trust, acquiring 94,562 shares valued at nearly $100 million in Q1 of this year. Additionally, the State of Wisconsin Investment Board (SWIB) also bought approximately $64 million worth of shares in Grayscale’s Bitcoin Trust.
This move by a major institutional investor is noted as a significant indication of growing acceptance of cryptocurrency investments among traditional finance entities. SWIB, established in 1951, manages over $156 billion in assets, including those of the Wisconsin Retirement System and other state trust funds. The purchases were disclosed in line with the SEC’s 13F reporting requirements.
#etf #bitcoin
🔔 Hong Kong Bitcoin and Ether ETFs Struggle on First Day
The launch of the first spot Bitcoin and Ethereum ETFs in Hong Kong experienced subdued trading volumes compared to their U.S. counterparts. On their debut day, the combined volume reached only $12 million, a stark contrast to the U.S. figures from January 2024. Managed by companies like China Asset Management, Harvest Global, Bosera, and HashKey, these six new crypto ETFs saw varied performances, with some funds attracting significantly more interest than others.
Local fund managers and brokerages have responded by offering fee waivers to attract investors. Additionally, these ETFs might become accessible to mainland Chinese investors, although stringent KYC policies could pose challenges.
$BTC #etf
The launch of the first spot Bitcoin and Ethereum ETFs in Hong Kong experienced subdued trading volumes compared to their U.S. counterparts. On their debut day, the combined volume reached only $12 million, a stark contrast to the U.S. figures from January 2024. Managed by companies like China Asset Management, Harvest Global, Bosera, and HashKey, these six new crypto ETFs saw varied performances, with some funds attracting significantly more interest than others.
Local fund managers and brokerages have responded by offering fee waivers to attract investors. Additionally, these ETFs might become accessible to mainland Chinese investors, although stringent KYC policies could pose challenges.
$BTC #etf
