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☆ Goldman Sachs jumps into bitcoin ETFs and one hedge fund gets bullish on miners
▼ + stars: | 2024-08-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Goldman Sachs went big in the quarter, while rival Morgan Stanley trimmed its crypto holdings. In the period from March through June, Goldman Sachs made its debut in the crypto ETF market, purchasing $418 million worth of bitcoin funds. Up to this point, wealth management businesses have only facilitated trades if customers requested exposure to the new spot crypto funds. The vast majority of the bank's spot bitcoin holdings are now through the iShares trust. HSBC has nearly $3.6 million worth of spot bitcoin holdings, all from the fund issued by Ark 21Shares, UBS has around $300,000 worth of spot bitcoin ETF holdings, and Bank of America has collective holdings of around $5.3 million, mostly from BlackRock and Fidelity.

Persons: Goldman Sachs, Morgan Stanley, Morgan, JP Morgan, Ark 21Shares Organizations: SEC, Wall, JPMorgan, Securities and Exchange Commission, Fidelity, BlackRock, HSBC, UBS, Bank of America Locations: BlackRock's, Grayscale's, BlackRock

☆ Grayscale's head of research discusses launch of crypto firm's Bitcoin Mini Trust ETF
▼ + stars: | 2024-07-31 | 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 EmailGrayscale's head of research discusses launch of crypto firm's Bitcoin Mini Trust ETFZach Pandl, head of research at Grayscale Investments, discusses the asset manager's new spot bitcoin ETF with a lower fee than GBTC as Grayscale's Bitcoin Mini Trust ETF started trading in the U.S. on Wednesday. He also explains whether Grayscale could file an application for a spot solana ETF in the near future.

Persons: Zach Pandl Organizations: solana Locations: U.S

☆ Grayscale CEO says fees on its bitcoin ETF will drop over time after outflows hit $12 billion
▼ + stars: | 2024-03-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Grayscale CEO Michael Sonnenshein said that the crypto fund manager expects to bring fees on its Grayscale Bitcoin Trust ETF down in the coming months, as the nascent crypto ETF market matures. The FTX bankruptcy estate reportedly offloaded the majority of its shares in Grayscale's bitcoin ETF, according to January reporting from Bloomberg and CoinDesk. Grayscale also wants to introduce other ways of giving investors less costly ways of accessing its bitcoin ETF, including a "mini" version of its flagship product — the Grayscale Bitcoin Mini Trust, announced last week. The new BTC ETF would be effectively spun out of the Grayscale Bitcoin Trust ETF and seeded with an as-yet undisclosed portion of bitcoin underlying GBTC shares. The firm is currently awaiting approval from the U.S. Securities and Exchange Commission for its Bitcoin Mini Trust ETF.

Persons: Michael Sonnenshein, Sonnenshein, GBTC, FTX Organizations: NYSE, LONDON, CNBC, Bloomberg, BlackRock, Fidelity, Vanguard, Trust, BTC, U.S . Securities, Exchange Commission, SEC Locations: Grayscale's bitcoin, solana

☆ Bitcoin could hit $150,000 by 2025, predicts Bernstein
▼ + stars: | 2023-10-31 | by ( Melina Khan | ) www.cnbc.com time to read: +2 min

The price of bitcoin could rise to $150,000 by 2025, Bernstein said Tuesday in a note citing optimism about a bitcoin exchange-traded fund. Bernstein analyst Gautam Chhugani said the firm expects the U.S. Securities and Exchange Commission to approve a bitcoin ETF by the first quarter of 2024. The only similar product is Grayscale's Bitcoin Trust , or GBTC, which presently holds around 3% of outstanding bitcoin, according to the note. Last week, the price of bitcoin reached $35,000, its highest level since May 2022. However, the court ruling does not guarantee the SEC will approve a bitcoin ETF.

Persons: Bernstein, Gautam Chhugani, Chhugani, Gary Gensler, FTX, Sam Bankman, Fried Organizations: U.S . Securities, Exchange Commission, SEC, BlackRock, Binance, CNBC

When 2023 began, a single bitcoin could be had for less than $17,000 after losing more than 75% of its value. Now, bitcoin is getting another boost on the prospects of creating a much larger pool of investors. IShares Bitcoin Trust appeared to be temporarily removed Tuesday, but was back online as of Wednesday. Still, the most recent surge bitcoin goes beyond single developments or participants, Kaiko research analyst Riyad Carey notes — crediting “more of a broad market rally" around spot bitcoin ETF prospects. Despite the recent excitement around bitcoin, crypto is still a risky bet.

Persons: Bitcoin, hasn't, Edward Moya, IShares Bitcoin, iShares, Moya, Riyad Carey, “, —, “ We’re, it’s, ”, it's, ” Moya, bitcoin Organizations: Federal Reserve, Industry, Columbia, Securities and Exchange Commission, Grayscale's, SEC, Depository Trust, Clearing Corporation, Associated Press Locations: Silicon, bitcoin, cryptocurrencies

☆ Coinbase shares rise 7% as Grayscale ETF ruling takes effect
▼ + stars: | 2023-10-24 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Brian Armstrong, CEO of Coinbase, slammed the U.S. Securities and Exchange Commission. He also said the cryptocurrency exchange is looking to invest more outside of the U.S.Shares of cryptocurrency exchange Coinbase rose about 7% Tuesday afternoon as optimism about a long-awaited bitcoin spot ETF approval buoyed the stock. It could be a turning point for the company, which has been sparring with the Securities and Exchange Commission in Manhattan federal court. Grayscale saw a victory formalized in federal appeals court Monday, when a judge's mandate that the SEC review the company's Bitcoin ETF proposal took effect. The company is one of the largest crypto custodians and has been tapped by a host of prospective ETFs, including BlackRock's proposed Bitcoin ETF, in that capacity.

Persons: Brian Armstrong, BlackRock's Organizations: U.S . Securities, Exchange Commission, U.S, Securities and Exchange Commission, SEC Locations: Manhattan

☆ ETF Edge, September 6, 2023
▼ + stars: | 2023-09-06 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS16:00 ETF Edge, September 6, 202304:07 Possible cannabis reclassification fuels fund optimism04:28 What now after SEC punts post-Grayscale ruling? 07:30 Shakey September ahead? 02:27 ETF Edge: September swoon ahead? 05:20 How the SEC could respond to Grayscale's bitcoin ETF win

Organizations: Edge, SEC

☆ Shakey September ahead?
▼ + stars: | 2023-09-06 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS07:30 Shakey September ahead? 04:07 Possible cannabis reclassification fuels fund optimism04:28 What now after SEC punts post-Grayscale ruling? 16:00 ETF Edge, September 6, 202302:27 ETF Edge: September swoon ahead? 05:20 How the SEC could respond to Grayscale's bitcoin ETF win

Organizations: SEC, Edge

☆ What now after SEC punts post-Grayscale ruling?
▼ + stars: | 2023-09-06 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS04:28 What now after SEC punts post-Grayscale ruling? 04:07 Possible cannabis reclassification fuels fund optimism07:30 Shakey September ahead? 16:00 ETF Edge, September 6, 202302:27 ETF Edge: September swoon ahead? 05:20 How the SEC could respond to Grayscale's bitcoin ETF win

Organizations: SEC, Edge

☆ Possible cannabis reclassification fuels fund optimism
▼ + stars: | 2023-09-06 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS04:07 Possible cannabis reclassification fuels fund optimism04:28 What now after SEC punts post-Grayscale ruling? 07:30 Shakey September ahead? 16:00 ETF Edge, September 6, 202302:27 ETF Edge: September swoon ahead? 05:20 How the SEC could respond to Grayscale's bitcoin ETF win

Organizations: SEC, Edge

☆ How the SEC could respond to Grayscale's bitcoin ETF win
▼ + stars: | 2023-09-01 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the SEC could respond to Grayscale's bitcoin ETF winVedder Price attorney Jeremy Senderowicz, Grayscale CLO Craig Salm and Bitwise CIO Matt Hougan join CNBC's Bob Pisani on "ETF Edge" to discuss how the SEC could respond to Grayscale's legal win in its pursuit of a spot bitcoin ETF.

Persons: Vedder Price, Jeremy Senderowicz, Craig Salm, Matt Hougan, Bob Pisani Organizations: SEC

☆ Breakthrough in the bitcoin ETF battle: What happens next?
▼ + stars: | 2023-08-30 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS15:23 Breakthrough in the bitcoin ETF battle: What happens next? 05:20 How the SEC could respond to Grayscale's bitcoin ETF win16:04 ETF Edge, August 30, 202320:53 ETF Edge, August 28, 202305:47 U.S. or global stocks? Weighing long-term performance14:52 Mutual funds and ETFs: same share class a gamechanger?

Organizations: SEC, Edge, Mutual

☆ ETF Edge, August 30, 2023
▼ + stars: | 2023-08-30 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS16:04 ETF Edge, August 30, 202305:20 How the SEC could respond to Grayscale's bitcoin ETF win15:23 Breakthrough in the bitcoin ETF battle: What happens next? 20:53 ETF Edge, August 28, 202305:47 U.S. or global stocks? Weighing long-term performance14:52 Mutual funds and ETFs: same share class a gamechanger?

Organizations: Edge, SEC, Mutual

☆ Bitcoin surges after court clears the way for Grayscale to turn its crypto trust into an ETF, handing the SEC a defeat
▼ + stars: | 2023-08-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Bitcoin soared 6% on Tuesday after Grayscale won its crypto case against the SEC. Grayscale sued the SEC in 2022 after the agency rejected its application to turn its bitcoin trust into an ETF. The court ruling from the District of Columbia Court of Appeals could pave the way for other bitcoin ETFs. The current discount of the Grayscale Bitcoin Trust to its NAV is about 24%, according to data from YCharts. The Grayscale Bitcoin Trust soared more than 17% on Tuesday.

Persons: Bitcoin, Coinbase Organizations: SEC, District of Columbia, Service, Investments, Securities and Exchange Commission, Columbia, BlackRock, Fidelity Locations: Wall, Silicon

☆ Mutual funds and ETFs: same share class a gamechanger?
▼ + stars: | 2023-08-28 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS14:52 Mutual funds and ETFs: same share class a gamechanger? 05:20 How the SEC could respond to Grayscale's bitcoin ETF win15:23 Breakthrough in the bitcoin ETF battle: What happens next? 16:04 ETF Edge, August 30, 202320:53 ETF Edge, August 28, 202305:47 U.S. or global stocks? Weighing long-term performance

Organizations: Mutual, SEC, Edge

☆ U.S. or global stocks? Weighing long-term performance
▼ + stars: | 2023-08-28 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS05:47 U.S. or global stocks? Weighing long-term performance05:20 How the SEC could respond to Grayscale's bitcoin ETF win15:23 Breakthrough in the bitcoin ETF battle: What happens next? 16:04 ETF Edge, August 30, 202320:53 ETF Edge, August 28, 202314:52 Mutual funds and ETFs: same share class a gamechanger?

Organizations: SEC, Edge, Mutual

☆ ETF Edge, August 28, 2023
▼ + stars: | 2023-08-28 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS20:53 ETF Edge, August 28, 202305:20 How the SEC could respond to Grayscale's bitcoin ETF win15:23 Breakthrough in the bitcoin ETF battle: What happens next? 16:04 ETF Edge, August 30, 202305:47 U.S. or global stocks? Weighing long-term performance14:52 Mutual funds and ETFs: same share class a gamechanger?

Organizations: Edge, SEC, Mutual

Bitcoin futures ETFs track bitcoin futures contracts, or agreements to purchase or sell bitcoin at a certain price on a specified date. A spot bitcoin ETF would track bitcoin's underlying market price. Proponents say a spot bitcoin ETF would give investors exposure to bitcoin without directly buying it. He told Reuters in January that Grayscale would appeal the case if the court backed the SEC's decision to reject its bitcoin ETF proposal. Grayscale Bitcoin Trust, launched in 2013, has $14 billion in assets under management, according to Grayscale’s website.

☆ JPMorgan expects a mild recession for 2023. That means higher unemployment and a rough holiday shopping season for Americans.
▼ + stars: | 2022-11-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

The FOMC still has 100 basis points more of rate hikes to go, in the bank's view. To cool down the economy, then, the Fed will likely look to tame hourly wage growth and push the unemployment rate higher, JPMorgan said. "By most measures hourly wage growth is currently running around 5%," the analysts wrote. And that sort of wage growth deceleration will likely require an unemployment rate between 4% and 5%, depending on how entrenched wage growth expectations have become." The Fed's tightening efforts, ultimately, will tip the economy into a recession, JPMorgan analysts said.

"There is more asset allocation towards baskets that combine the top five or 10 crypto assets by market cap. TICK BY TICKMost active crypto ETP products are registered outside the United States, though, with Switzerland, Canada, Australia and Brazil racing ahead with spot crypto offerings. One reason is that U.S. regulators have turned down several applications for spot bitcoin funds, which mirror the cryptocurrency's price movements tick-by-tick, citing multiple reasons including a lack of surveillance-sharing agreements with regulated markets relating to the spot funds' underlying assets. The world's largest bitcoin fund, Grayscale Bitcoin Trust (GBTC.PK), is down 34% in the same time. At Grayscale's Bitcoin Trust, the AUM have tumbled to $12.2 billion from over $30 billion at the end of 2021, data from the firm showed.

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