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☆ Ether ETFs without staking would hurt total returns, says CoinShares' Steven McClurg
▼ + stars: | 2024-05-24 | 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 EmailEther ETFs without staking would hurt total returns, says CoinShares' Steven McClurgSteven McClurg, CoinShares head of US asset management, joins 'Closing Bell: Overtime' to discuss the Ethereum ETF and why he’s not investing in it.

Persons: CoinShares, Steven McClurg Steven McClurg

☆ Bitcoin ETFs have a key difference from their stock fund counterparts
▼ + stars: | 2024-01-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The U.S. Securities and Exchange Commission pushed for bitcoin exchange-traded funds to have a key difference from major stock funds, and that decision's effect on how the funds trade will only become clear over time. The bitcoin funds that launched Thursday are using a share redemption process that turns the underlying crypto into cash. Most ETFs primarily use an in-kind redemption process, where the underlying asset does not have to be actually sold. There is some concern that using the cash-only redemption model could make the plumbing of the ETFs less efficient. Using cash-only redemption could result in ETFs that have weaker liquidity and wider bid-ask spreads, Grayscale argued.

Persons: Bryan Armour, Steven McClurg, McClurg, Jeremy Senderowicz, Vedder Price, Gary Gensler, Senderowicz Organizations: U.S . Securities, Exchange Commission, North America, Morningstar, SEC, APs, CNBC PRO Locations: bitcoin

☆ Cryptoverse: As good as gold? Spot bitcoin ETFs aim to whip up US demand
▼ + stars: | 2023-10-31 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +5 min

Mainstream investment giants such as BlackRock (BLK.N) and Fidelity, as well as crypto-focused firms like Grayscale, have filed applications for spot bitcoin ETFs. U.S. crypto firm NYDIG estimates demand for a spot bitcoin ETF at around $30 billion. Their calculation compares the sizes of the gold and bitcoin ETFs - $210 billion versus $28.8 billion, respectively - and adjusts them for their relative volatility. BlackRock declined to comment on its pending spot bitcoin ETF, other than to confirm that it is still awaiting final SEC approval. His forecast is based on how demand evolved in smaller markets where spot bitcoin ETFs already exist, such as Canada.

Persons: Dado, Dave Mazza, George Gagliardi, cryptocurrencies, bitcoin, Todd Sohn, Steven McClurg, Crypto, Matthew Sigel, Matthew Hougan, Steve Sosnick, Suzanne McGee, Ira Iosebashvili, Michelle Price Organizations: REUTERS, Roundhill Investments, Fidelity, U.S . Securities, Exchange, Coromandel Wealth Management, Strategas Securities, Boston Consulting, BlackRock, SEC, Bitwise Investments, Interactive, Thomson, Reuters Locations: U.S, BlackRock, Lexington , Massachusetts, Canada

☆ Valkyrie Funds to add 'ether' futures in exchange-traded fund after SEC approval
▼ + stars: | 2023-09-28 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 28 (Reuters) - Investment manager Valkyrie Funds LLC has begun adding ethereum futures to its existing Bitcoin futures exchange-traded fund, after getting the green light from the U.S. Securities and Exchange Commission (SEC), the company said on Thursday. The renamed Valkyrie Bitcoin and Ether Strategy ETF (BTF.O) will launch on Monday, Valkyrie's chief investment officer Steven McClurg told Reuters. Rival asset managers VanEck and ProShares are looking to offer pure ether futures ETFs, in contrast to Valkyrie's hybrid ETF. The SEC's decision to drop long-held objections to ether futures ETFs is a boost for the crypto industry, which has been pushing the agency to expand the types of crypto ETFs they can offer. Media reports that the SEC was poised to approve ether futures ETFs appears to have been boosting the token's price.

Persons: Dado Ruvic, Bitcoin, Steven McClurg, McClurg, VanEck, Steve Sosnick, Suzanne McGee, Michelle Price Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Strategy, Reuters, Media, Interactive, Thomson

☆ A key question as a true bitcoin ETF gets closer to reality: How much will it cost?
▼ + stars: | 2023-09-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

Many crypto and asset management industry professionals now expect the first so-called spot bitcoin funds to launch in 2024 . The number of firms jockeying for a spot bitcoin ETF has already broken into double digits, and it's still growing. The largest bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO) , has an expense ratio of 0.95%. Valkyrie has a Bitcoin Strategy ETF (BTF) that holds futures and has also applied to launch a spot product. He pointed to a Roundhill Ether Futures ETF filing with a proposed 0.19% fee as a more realistic target.

Persons: Franklin Templeton, Steven McClurg, we're, else's, McClurg, Ric Edelman, Bryan Armour, Armour Organizations: Securities, Exchange Commission, BlackRock, Valkyrie Investments, Digital Assets, Financial Professionals, North America, Morningstar, Fidelity Locations: BlackRock, Invesco

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.

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 enable investors to gain exposure to bitcoin without directly buying it. The agency has denied more than a dozen spot bitcoin ETF applications, all of which it said lacked surveillance-sharing agreements to detect potential manipulation. Grayscale Bitcoin Trust, launched in 2013, has $14 billion in assets under management, according to Grayscale’s website.

☆ Bitcoin's break above $20,000 has investors wondering if the crypto bottom is in. Here's what analysts say
▼ + stars: | 2022-10-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

October is a historically strong month for crypto, but this month, prices and volatility have been relatively flat. Don't call it a bottom yet The odd inactivity has investors wondering if the crypto market could be turning for the better and breaking out of this year's rut. That, combined with the recent low volatility, would provide more evidence of a bottom, but bitcoin today is still leaving derivative exchanges. "For low price volatility to be associated with bottoms, the portion of bitcoin inflows into exchanges dominated by whales ought to be relatively low," he said. CryptoQuant also analyzed bitcoin's MVRV, or market value to realized value, ratio, which shows crypto hasn't gone into undervalued territory.

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