Grayscale Investments has filed with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Digital Large Cap Fund (GDLC) into a traditional ETF.
As of October 11, 2024, BlackRock, one of the largest U.S. investment firms, crossed a historic threshold with its assets under management surpassing $11.5 trillion for the first time. This was fueled by a surge in crypto-ETF inflows and a sharp rise in the company's stock.
Bitwise, a crypto asset management company, is taking steps to launch an XRP ETF (Exchange-Traded Fund). The company registered a trust entity in the state of Delaware, US, on October 1.
The total net inflows on the second trading day (July 24) turned negative (-$133.16 million), according to data from SoSoValue.
Jay Jacobs, BlackRock's Head of Thematic and Active ETFs, explained the primary allure of ETH compared to BTC while presenting the company's spot Ethereum ETF to investors. He emphasized that Bitcoin's main attraction is its scarcity, whereas Ethereum's appeal lies in its versatility.
Kraken's institutional arm has begun offering services to clients in the UK and Australia, catering to hedge funds, ETF issuers, and other large entities with advanced management and functionality.
BlackRock’s chief investment officer of ETF, Samara Cohen, points out that spot Bitcoin ETFs are progressing slowly due to financial advisors' initial exploration of this investment product. According to the firm, about 80% of all current purchases come from individual investors.
Bitwise, an investment company, has thrown its hat into the ring with an application for a spot Ethereum ETF, aligning itself with industry heavyweights such as BlackRock, Grayscale, Fidelity, VanEck, and Ark/21Shares.
BlackRock CEO Larry Fink made some intriguing remarks about the crypto industry during a Q3 earnings call, as shared on X by Bloomberg senior ETF analyst Eric Balchunas.
Crypto investment firm Canary Capital has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch a spot XRP ETF. This makes them the second issuer in just a week, following Bitwise, in their attempt to offer traditional investors exposure to Ripple (XRP).
July 23 marked the debut of spot Ethereum ETFs in the U.S. trading markets. According to data from a Bloomberg terminal screenshot shared by analyst James Seyffart, the total net inflows amounted to approximately $106.8 million, with the overall trading volume surpassing $1.11 billion.
Grayscale launched the Ethereum Mini Trust, offering an introductory zero-fee period (0% commission) for the first 6 months or up to $2 billion. Subsequently, the commission will be 0.15%, the lowest in the market, excluding initial discounts.
Bloomberg's senior ETF analyst, Eric Balchunas, has revealed that the SEC asked applicants to submit their final S-1 form documents by Wednesday, along with a request for effectiveness on Monday. This suggests that the launch could happen on Tuesday, July 23.
VanEck CEO Jan van Eck is championing a shift in focus towards decreasing transaction fees on Ethereum and Bitcoin, rather than pushing for another spot ETF. He argues that the unpredictable and often high fees significantly hinder both app developers and end-users.
Following Fidelity's lead, Grayscale Investments has introduced the capability to utilize the ETH in its trust for staking, as part of its application to register a spot Ethereum ETF.
