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☆ BYD is 'coming on quickly', will likely pass Tesla as dominant global EV seller, says Steve Westly
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBYD is 'coming on quickly', will likely pass Tesla as dominant global EV seller, says Steve WestlyTasha Keeny, Ark Invest director of investment analysis & institutional strategies, and Steve Westly, The Westly Group managing partner & former Tesla board member, join 'Closing Bell Overtime' to talk Tesla's quarterly earnings results.

Persons: Tesla, Steve Westly Tasha Keeny, Steve Westly Organizations: Ark Invest, Westly Group, Tesla

☆ Watch CNBC's full panel interview on Tesla's Q4 earnings
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full panel interview on Tesla's Q4 earningsTasha Keeny, Ark Invest director of investment analysis & institutional strategies, and Steve Westly, The Westly Group managing partner & former Tesla board member, join 'Closing Bell Overtime' to talk Tesla's quarterly earnings results.

Persons: Tasha Keeny, Steve Westly Organizations: Ark Invest, Westly Group, Tesla

☆ ARK Invest CEO Cathie Wood: Most car sales will be electric in five years
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Invest CEO Cathie Wood: Most car sales will be electric in five yearsARK Invest CEO Cathie Wood joins 'Closing Bell: Overtime' to discuss markets, the Fed, Coinbase and Tesla.

Persons: Cathie Wood Organizations: ARK

☆ Cathie Wood on bitcoin ETF: This is one of the most important investments of our lifetime
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCathie Wood on bitcoin ETF: This is one of the most important investments of our lifetimeARK Invest CEO Cathie Wood joins 'Closing Bell: Overtime' to discuss markets, the Fed, Coinbase and Tesla.

Persons: Cathie Wood Locations: bitcoin

☆ Watch CNBC’s full interview with Ark Invest CEO Cathie Wood
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Ark Invest CEO Cathie WoodARK Invest CEO Cathie Wood joins 'Closing Bell: Overtime' to discuss markets, the Fed, Coinbase and Tesla.

Persons: Cathie Wood Organizations: Ark, ARK

☆ The stock market has cooled off to start 2024, but it's still checking most of the bull market boxes
▼ + stars: | 2024-01-13 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The small-cap Russell 2000 has dropped close to 4% against a fractional gain in the S & P 500 year to date. In broad terms, the S & P 500 could retreat to 4600 or so – about 4% down from here – and still be in a routine technical check-back to its latest launch point in early December. Todd Sohn of Strategas notes that the Invesco S & P 500 Equal Weight ETF (RSP) saw inflows go vertical last year to $13.5 billion, 30% above its prior 12-month record. Betting on 'peacetime' Fed cuts Right or wrong, the market debate right now can never get far before turning into a Fed-policy-path discussion. Last week's CPI and PPI data added to the market's collective conviction that inflation's downside momentum is strong, opening the way for "peacetime" Fed rate cuts.

Persons: that's, Russell, Ned Davis, Tim Hayes, Tony Pasquariello, Goldman Sachs, Henry McVey, KKR's, McVey, Morgan Stanley, Todd Sohn, Strategas, they're, Jerome Powell Organizations: Ned Davis Research, Goldman, Nasdaq, Apple, CPI, PPI Locations: U.S

☆ Why spot ETFs may be a game changer for bitcoin
▼ + stars: | 2024-01-13 | by ( Emily Glass | ) www.cnbc.com time to read: +1 min

The Securities and Exchange Commission's approval of 11 spot bitcoin ETFs this week could be a turning point for cryptocurrency investing. Her firm partnered with 21Shares to launch the ARK 21Shares Bitcoin ETF. "We really believe this is an important moment for us to help with the democratization of bitcoin access, giving more people access," Wood told "ETF Edge" on Monday. The first-ever batch of spot ETFs began trading Thursday. "It's also very much part of a new wave of disruptive technology," the firm's president and co-founder told "ETF Edge."

Persons: Cathie Wood, 21Shares, Wood, Ophelia Snyder's, Snyder, bitcoin Organizations: Securities, Exchange, Ark Invest Locations: bitcoin

☆ Ark Invest president says bitcoin is now a 'public good' that all investors should have access to
▼ + stars: | 2024-01-11 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Brendan McDermid | ReutersArk Invest President and COO Tom Staudt believes bitcoin is now a "public good" to which all investors should have access, as the company launches its first bitcoin exchange-traded fund. watch nowThe ARK 21Shares Bitcoin ETF is one of six initially waiving fees, alongside the Bitwise Bitcoin ETF, the Fidelity Wise Origin Bitcoin Trust, the WisdomTree Bitcoin Fund, the Invesco Galaxy Bitcoin ETF and the Valkyrie Bitcoin Fund. "This is a new asset class. We haven't had a new asset class for financial portfolio allocation in quite some time, and with a new asset class comes lower correlation to the other asset classes previously allocated to." Bitcoin was trading at around $47,300 on Thursday morning , according to Coin Metrics, and the SEC's decision has many analysts bullish about newly unlocked potential for massive gains.

Persons: Cathie Wood, Brendan McDermid, Tom Staudt, bitcoin, BlackRock's, Staudt, CNBC's, 21Shares, Bitcoin, haven't, bullish Organizations: Ark Invest, CNBC, New York Stock Exchange, Reuters, Invest, U.S . Securities, Exchange Commission, Fidelity, Bitcoin, Galaxy, U.S, Metrics Locations: New York City, U.S

☆ ARK Invest President says Bitcoin ETF is about removing barriers to crypto investing
▼ + stars: | 2024-01-11 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Invest President says Bitcoin ETF is about removing barriers to crypto investingTom Staudt, President and COO of ARK Invest, discusses the SEC's approval of Bitcoin ETFs and the launch of ARK 21Shares Bitcoin ETF.

Persons: Tom Staudt Organizations: ARK Invest

☆ Here's what a bitcoin ETF actually means for investors
▼ + stars: | 2024-01-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

A false statement saying the regulator had approved a bitcoin ETF was published Tuesday on the SEC's social media account on X, formerly known as Twitter. CNBC runs through everything you need to know about the bitcoin ETF milestone. As crypto investors look to assess what the market impact of a bitcoin ETF might be, many are comparing Wednesday's news to the greenlighting of the SPDR Gold Shares ETF — the first-ever spot gold ETF — in 2004. A bitcoin ETF opens up the audience of people and institutions that can buy and sell bitcoin to those with little experience trading cryptocurrency. "There is now a U.S. bitcoin spot ETF, and bitcoin is no longer considered shady or infamous.

Persons: Vijay Ayyar, Ayyar, Kevin de Patoul Organizations: . Securities, Exchange, U.S, Ark, Twitter, CNBC, — Locations: BlackRock, Invesco, U.S

☆ Cathie Wood says bitcoin ETF approval makes her $1.5 million bull case more likely
▼ + stars: | 2024-01-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Ark Invest's Cathie Wood said the approval of bitcoin exchange-traded funds in the U.S. made her more convinced that the world's largest cryptocurrency could hit her wildly bullish target. For her bull case, the Ark Invest chief sees bitcoin hitting $1.5 million by 2030. "We think the probability of the bull case has increased with this SEC approval. The Ark Invest CEO and chief investment officer has been a longtime crypto bull. Ark Invest has partnered with 21Shares on a proposed bitcoin fund — the Ark21Shares Bitcoin ETF (ARKB).

Persons: Cathie Wood, Wood, Bitcoin, 21Shares Organizations: Ark Invest, SEC, U.S . Securities, Exchange Commission, Invest Locations: U.S

☆ What to know before buying the first bitcoin ETFs. FOMO ‘is a poor investment strategy,’ expert says
▼ + stars: | 2024-01-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

The agency signed off on 11 bitcoin ETF applications, including funds from BlackRock , Fidelity, Ark Invest, WisdomTree and Grayscale. But there are things to consider before rushing to purchase bitcoin ETFs. 'Better than anything else on the market'While bitcoin carries risk, if you want to add exposure, experts say the new bitcoin ETFs could be worth considering compared to owning bitcoin directly or bitcoin futures ETFs. "These spot bitcoin ETFs are better than anything else on the market," said Armour, referring to other bitcoin investing options. The Grayscale Bitcoin Trust (GBTC) charged 2.0% before converting to a spot bitcoin ETF, and now has fees of 1.5%.

Persons: Bryan Armour, Armour, I'm, Ivory Johnson, Gary Gensler Organizations: . Securities, Exchange Commission, Fidelity, Ark Invest, North America, Morningstar, SEC, Delancey Wealth Management, CNBC's Locations: U.S, BlackRock, bitcoin, Washington ,

☆ Dollar gains on yen, bitcoin edges up before expected SEC decision
▼ + stars: | 2024-01-10 | by ( ) www.cnbc.com time to read: +3 min

The SEC was expected to announce later in the day whether it will approve applications from asset managers Ark Investments and 21Shares (ABTC.S) to launch a spot bitcoin ETF. More than a dozen bitcoin ETF applications - including from BlackRock (BLK.N), Fidelity and VanEck - are also pending with the agency. The Consumer Price Index (CPI) due out on Thursday is the next likely driver of dollar direction. It is expected to show that headline inflation rose 0.2% in the month and by 3.2% on an annual basis. Anticipation of a positive SEC decision on ETFs, which is likely to draw billions of dollars in new investments, has boosted bitcoin prices in the past two months.

Persons: Exchange Commission's, Marc Chandler, Chandler, bitcoin, Chris Weston, Ethereum Organizations: Federal Reserve, U.S . Securities, Exchange, SEC, Ark Investments, BlackRock, Fidelity, Institute for Supply Management, Index, Fed, Bank of Japan Locations: U.S, Bannockburn, New York, Japan

☆ The spot bitcoin ETF: Here's what happens when it starts trading
▼ + stars: | 2024-01-10 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Spot bitcoin ETF feesBitwise (BITB) 0.0% (after first six months: 0.2%)ARK Invest/21Shares (ARKB): 0.0% (after first six months: 0.21%)Invesco Galaxy Bitcoin ETF (BTCO) 0.0% (after first six months: 0.39%)iShares Bitcoin Trust (IBIT) 0.12% (after first 12 months: 0.25%)VanEck Bitcoin Trust (HODL) 0.25%Franklin Bitcoin ETF (EZBC) 0.29%Fidelity Wise Origin Bitcoin Trust (FBTC) 0% (after July 31, 2024, 0.25%)WisdomTree Bitcoin Trust (BTCW) 0.0% (after first six months 0.3%)Valkyrie Bitcoin Fund (BRRR) 0.0% (after three months 0.49%)Grayscale Bitcoin Trust (GBTC) 1.5%Hashdex Bitcoin (DEFI) 0.9%Invesco's Galaxy Bitcoin ETF has set its expense ratio at 0.0% for the initial six months and the first $5 billion in assets, and goes to 0.39% after. Source: Bloomberg/SEC.govHow will a spot bitcoin trade relative to bitcoin and bitcoin futures? One of the main questions is how well a spot bitcoin ETF will track bitcoin and bitcoin futures. Simeon Hyman, ProShares' global investment strategist who manages the largest bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO) that launched in October 2021, noted that bitcoin futures ETFs have tracked bitcoin "fairly well." Some are concerned that the creation and redemption process that was agreed upon to create spot bitcoin ETFs could result in a bitcoin ETF trading at a premium to its NAV.

Persons: 21Shares, iShares, VanEck, WisdomTree, Bitcoin, Simeon Hyman, ProShares Organizations: Securities and Exchange Commission, Bitcoin, Franklin Bitcoin, Galaxy, Bloomberg Locations: bitcoin

☆ SEC approves bitcoin ETFs for some investment firms
▼ + stars: | 2024-01-10 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

“While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin. The SEC had a deadline of January 10 to offer a decision for just one of the 11 firms that applied to offer bitcoin ETFs. Bitcoin ETFs, like bitcoin, carry risks for investorsFor those considering jumping on the bitcoin bandwagon, it’s important to note that the price of a bitcoin will be just as volatile whether you invest in it directly yourself or through an ETF. Those sentiments have been echoed by many financial advisers and the investor watchdog group Better Markets, which strongly opposed the SEC’s approval of bitcoin ETFs. The full list of companies that got SEC approval to launch bitcoin ETFs are: Ark Invest together with 21 Shares; Bitwise, BlackRock, Fidelity, Franklin Templeton, Grayscale, Hashdex, Invesco, WisdomTree, Valkyrie and VanEck.

Persons: Gary Gensler, bitcoin, ”, Gensler, Dennis Kelleher, “, Sheila Warren, Franklin Templeton Organizations: New, New York CNN, Securities and Exchange Commission, SEC, FBI, Investments, Better, Street, Crypto, Innovation, Fidelity Locations: New York, BlackRock

☆ Cryptocurrency investors eagerly awaiting SEC ruling on bitcoin ETFs
▼ + stars: | 2024-01-05 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

Crypto investors are eagerly awaiting an imminent ruling from the U.S. Securities and Exchange Commission that will likely approve the trading of a spot bitcoin exchange-traded fund, more than a decade after initial attempts were rejected. 13 companies have filed for a spot bitcoin ETF:Grayscale Bitcoin TrustArk/21Shares Bitcoin TrustBitwise Bitcoin ETF TrustBlackRock Bitcoin ETF TrustVanEck Bitcoin TrustWisdomTree Bitcoin TrustValkyrie Bitcoin FundInvesco Galaxy Bitcoin ETFFidelity Wise Origin Bitcoin TrustGlobal X Bitcoin TrustHashdex Bitcoin ETFFranklin Templeton Digital Holdings TrustPando Asset Spot Bitcoin TrustHow the SEC will proceedThere are two components to the applications:1) A 19b-4 filing, which is a form used by exchanges to inform the SEC of a proposed rule change. In this case, each company filing for the spot bitcoin ETF has differences in the way the product might be structured. Invesco's Galaxy Bitcoin ETF has set its expense ratio at 59 basis points, which are waived for the initial six months and the first $5 billion in assets. Grayscale Bitcoin Trust currently charges 2% but has said it's committed to lowering the fee once its application to convert to a bitcoin ETF is approved.

Persons: Fidelity's, it's, Gary Gensler's, Gensler, Bitcoin, Coinbase, Binance, Changpeng Zhao, Zhao, Wood Organizations: U.S . Securities, Exchange Commission, BlackRock, Fidelity, Bitcoin, Franklin Templeton Digital Holdings Trust, SEC, Securities, NYSE, Nasdaq, Galaxy, U.S ., Appeals, U.S . Department of Justice, Binance

☆ Swiss firm Pando becomes 13th filer for spot bitcoin ETF
▼ + stars: | 2023-12-04 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +1 min

Dec 4 (Reuters) - Pando Asset AG, a digital asset management firm based in Switzerland, last week became the latest issuer to submit an application to the U.S. Securities and Exchange Commission to launch an exchange-traded fund (ETF) tied to spot bitcoin prices. Pando becomes the 13th company vying for a share of what the cryptocurrency world believes could become a multi-billion dollar product, SEC filings showed. Others range from asset management giants like BlackRock and Fidelity to more specialized ETF providers like ARK Investments. Pando is a latecomer to the U.S. spot bitcoin race, but already has three other spot crypto exchange-traded products (ETPs) on the SIX Swiss Exchange. Its ETF proposal included Bank of New York Mellon as the administrator of the Pando Asset Spot Bitcoin Trust.

Persons: Pando, Suzanne McGee, Ira Iosebashvili Organizations: Pando Asset AG, U.S . Securities, Exchange Commission, SEC, BlackRock, Fidelity, ARK Investments, SIX Swiss Exchange, Bank of New York Mellon, Pando isn't, ARK Investment Management, Thomson Locations: Pando, Switzerland, U.S

☆ Stocks making the biggest moves premarket: Pfizer, Disney, Tesla, Alibaba and more
▼ + stars: | 2023-12-01 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Pfizer — Shares dropped 4.2% after the drugmaker said it would halt development of its twice-daily experimental weight loss pill. Marvell Technology — The semiconductor stock fell more than 5% after Marvell issued lower-than-expected revenue guidance for the fourth quarter. Ulta Beauty — The stock gained nearly 12% after the beauty products retailer reported third-quarter earnings that beat analysts' expectations. Ulta reported earnings of $5.07 per share, higher than the $4.95 per share analysts polled by LSEG were expecting. Dell — Stock in the computer maker fell nearly 6% on the heels of a mixed third-quarter earnings report.

Persons: Pfizer, Andrew Nowinski, Nelson Peltz, Alibaba, Morgan Stanley, Tesla, Coinbase, Ulta, LSEG, Jessica Fye, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: Pfizer —, Paramount Global, Wall Street Journal, Apple, Disney —, Trian Fund Management, Marvell Technology, Marvell, Invest, Nasdaq, Dell —, Wall, LSEG, JPMorgan Locations: —, Wells Fargo

☆ Stocks making the biggest moves midday: Tesla, Disney, Alibaba, Ulta Beauty and more
▼ + stars: | 2023-12-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Ulta Beauty — The beauty stock rallied nearly 11% after posting third-quarter results that surpassed analysts' estimates. Samsara — Samsara shares popped 16% after the cloud company posted better-than-expected quarterly results and shared stronger-than-expected guidance. The chip company posted third-quarter earnings that topped Wall Street's estimates but shared weaker-than-expected guidance for the current quarter. Ambarella — Shares slipped 1% after Ambarella reported third-quarter gross margins of 62.6%, down from 63.5% in the year-ago period. Otherwise, the semiconductor design company posted quarterly results that topped estimates.

Persons: Tesla, Nelson Peltz, Alibaba, Morgan Stanley, Wells, Dell, Altimmune, Ambarella, Jefferies, Yun Li, Michelle Fox, Sarah Min, Alex Harring, Brian Evans, Jesse Pound Organizations: Disney — Disney, Trian Fund Management, Pfizer, Paramount Global, Street Journal, Paramount, Apple, Marvell Technology, Invest, Nasdaq, Dell —, LSEG, JPMorgan, Norfolk Southern, Bank of America, CSG Locations: Texas, China, Wells Fargo, Norfolk, Ohio

☆ Cathie Wood’s Innovation ETF is up more than 30% in November, on pace for its best month ever
▼ + stars: | 2023-11-30 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange on Feb. 27, 2023. Wood's flagship Ark Innovation ETF (ARKK) has rallied 32% this month, on pace to score its strongest month ever since its inception in 2014. The fund rebounded dramatically from three straight months of losses, pushing 2023 gains to 48%. Cathie Wood is about to notch her best month ever as her holdings of innovative technology stocks roared back from steep losses amid declining Treasury yields in November. Driving the innovation fund higher this month have been biotech names CRISPR Therapeutics and Twist Bioscience , along with Roku , Coinbase , Block and Shopify , which are all up at least 50%.

Persons: Cathie Wood, ARKK, Wood Organizations: Ark Invest, CNBC, New York Stock Exchange, Innovation, CRISPR Therapeutics, Twist, Ark, CNBC PRO Locations: outflows

☆ In spot bitcoin ETF race, some pioneers stick to the sidelines
▼ + stars: | 2023-11-28 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +6 min

The SEC has long rejected spot bitcoin ETF applications on the grounds they do meet its investor protection requirements. Industry hopes that position would shift surged in June when BlackRock (BLK.N), which has an almost unbroken record of SEC ETF approvals, filed for a spot bitcoin ETF. The only prospective issuer to disclose proposed investor fees so far is Ark Investment, which last week announced its spot bitcoin ETF would charge a fee of 0.8%. To be sure, issuers hoping to launch spot bitcoin ETFs have a more bullish outlook than those sticking to the sidelines. Magoon hopes the buzz surrounding a spot bitcoin ETF will draw more assets to Amplify's BLOK ETF.

Persons: Marco Bello, it's, Dave Mazza, Gary Gensler, Michael Sapir, ProShares, Sapir, Roxanna Islam, Aisha Hunt, Kelley, Christian Magoon, Roundhill, Mazza, Magoon, Tom Staudt, Staudt, Suzanne McGee, Michelle Price, Deepa Babington Organizations: REUTERS, Roundhill Investments, SEC, Industry, BlackRock, Ark Investment, Amplify's, Ark Investments, Thomson Locations: Miami Beach , Florida, U.S, BlackRock, Invesco, Amplify's BLOK

☆ ARK Invest sells more than $5 million Coinbase shares amid rising stock prices: CNBC Crypto World
▼ + stars: | 2023-11-28 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Invest sells more than $5 million Coinbase shares amid rising stock prices: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Greg Moritz, co-founder and COO of AltTab Capital, discusses why he believes Binance can thrive even more under new leadership.

Persons: explainers, Greg Moritz Organizations: CNBC Crypto, CNBC, AltTab

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Invest sells more Grayscale Bitcoin Trust holdings as discount narrows: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. Kyla Curley, a partner at StoneTurn and a certified cryptocurrency forensic investigator, sits down with CNBC Crypto World to discuss advancements in U.S. crypto regulation.

Persons: explainers, Kyla Curley Organizations: CNBC Crypto, CNBC

☆ Ark Investments sets 0.80% fee for proposed spot bitcoin ETF
▼ + stars: | 2023-11-24 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +1 min

Since 2021, the SEC has rejected multiple applications to issue spot bitcoin ETFs, arguing that the cryptocurrency market is vulnerable to manipulation. In August, a federal court ruled that the SEC wrongly rejected Grayscale Investments' application to convert its Bitcoin Trust into a spot bitcoin ETF. SEC chair Gary Gensler said last month that the SEC is evaluating as many as 10 spot bitcoin ETF proposals. The average fee levied on U.S. ETFs currently hovers around 0.54%, but Ark's proposed fee of 0.80% is significantly lower than the 2% that Grayscale currently charges investors on its spot bitcoin trust. If the SEC does approve some or all of the pending spot bitcoin ETF applications in early January, industry participants and analysts expect a fierce battle for market share to follow.

Persons: Cathie Wood, 21Shares, Gary Gensler, Ark's, It's, Suzanne McGee, Elaine Hardcastle Organizations: ARK Investment Management, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Swiss

☆ What the Binance settlement means for crypto investors—and why it could clear the path for a bitcoin ETF
▼ + stars: | 2023-11-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Industry insiders are cheering the end of a "CZ"-led Binance as a necessary move for crypto going forward. Some say it was perhaps even critical for what could be the next big step for the industry: the approval of a bitcoin ETF. Having this settlement behind us could be the final big, big step needed for this ETF." The crypto industry has long sought the creation of a bitcoin ETF (efforts to launch one go back at least a decade). "Binance is globally the major liquidity pool for crypto trading despite losing market share this year," she said.

Persons: Zhao, Binance, –, Franklin Templeton, Michael Rinko, Sam Bankman, Fried, Rinko, Sam Callahan, Callahan, Yesha Yadav Organizations: Industry, Department of Justice, –, Fidelity, Delphi, Securities, Exchange Commission, Binance, CZ, DOJ, Futures Trading Commission, Treasury Department, BlackRock, Invesco, Ark, Vanderbilt University Law School Locations: BlackRock

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