In brief
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$104,005.00
1.32%$2,579.78
-0.21%$2.42
-4.15%$658.27
1.15%$172.55
-0.98%$0.9998
-0.01%$0.226148
-2.77%$0.780343
-1.36%$0.276829
1.51%$2,575.63
-0.20%$104,010.00
1.48%$3.90
1.23%$3,098.41
-0.04%$16.31
-2.28%$23.93
-2.15%$0.29624
-1.99%$26.70
7.41%$0.00001511
-2.04%$0.200399
-1.65%$8.85
-0.51%$400.64
0.76%$3.10
-4.08%$100.86
1.28%$4.86
-0.84%$0.999763
-0.01%$2,585.28
0.19%$340.53
-1.14%$0.857426
-1.35%$2,751.28
-0.29%$5.05
6.72%$0.00001352
-0.96%$0.999066
-0.04%$1.001
0.08%$103,994.00
1.35%$30.29
0.07%$440.60
-0.41%$6.33
-4.08%$2.93
-2.28%$232.09
2.10%$5.39
-6.23%$53.71
-0.93%$0.993219
-0.65%$0.118381
-1.23%$207.82
-0.60%$5.53
-0.53%$19.23
-1.83%$0.101125
0.54%$1.00
0.00%$35.54
-1.72%$21.81
0.75%$12.98
-1.23%$0.02955953
-0.84%$4.90
-1.72%$0.745851
-3.52%$1.051
0.00%$4.94
-1.79%$1.17
0.00%$0.377124
-2.38%$0.99982
-0.05%$0.241314
-1.71%$103,793.00
1.16%$0.794092
-1.34%$2.99
-0.59%$0.22843
-1.41%$0.407381
-3.73%$4.37
-0.05%$2.79
-6.29%$1.18
-4.11%$0.545588
-1.95%$0.00002149
-2.06%$4.58
-0.04%$2,584.67
0.31%$1,827.51
-0.97%$0.997538
-0.05%$11.98
5.89%$0.512091
-1.13%$181.08
-1.22%$2,693.44
-0.04%$5.01
10.40%$0.909234
0.14%$95.02
-5.17%$1.30
0.76%$0.01986687
-0.01%$0.240905
-2.80%$1.27
0.81%$0.762895
-5.41%$0.677799
-1.98%$12.47
-2.53%$0.802878
3.22%$1.86
-5.72%$2,928.80
-0.06%$0.072197
-3.10%$103,892.00
1.25%$0.11468
-3.51%$0.999345
-0.12%$1.021
-9.30%$3.48
3.73%$0.00010247
-4.09%$0.7187
2.32%$2,742.50
-0.26%$657.95
1.14%$223.74
-0.40%$0.916873
-4.42%$0.999709
0.02%$0.02027532
-3.70%$0.999294
-0.04%$0.999261
-3.38%$0.01833199
-3.54%$192.25
-0.34%$0.01393644
-2.36%$0.696405
0.33%$104,013.00
1.45%$2,706.05
0.18%$105,650.00
2.76%$0.802083
0.42%$0.326975
-5.07%$3,223.41
2.26%$102,689.00
0.67%$0.999972
-0.01%$0.23338
-0.81%$3,228.99
2.17%$22.95
-0.44%$4.16
2.35%$0.00000076
-5.09%$2.32
-1.50%$37.11
-1.85%$0.736668
0.88%$12.83
4.45%$2,687.21
-0.55%$0.071679
-3.21%$0.120123
-2.48%$4.25
5.85%$0.433912
-1.24%$42.00
1.16%$0.646382
-1.79%$1.91
-0.59%$0.716799
-3.02%$0.01953738
14.48%$0.998147
-0.04%$0.346213
-1.99%$1.96
-1.76%$0.997827
0.05%$2.07
0.41%$0.16765
-3.56%$1.11
0.02%$0.226095
-2.39%$0.691202
-2.01%$111.06
0.01%$2,578.62
-0.06%$2,582.96
0.02%$0.472085
-2.14%$19.57
-2.37%$2,750.38
0.13%$103,928.00
1.23%$0.00908892
-2.48%$1.88
-4.83%$0.666968
-1.78%$2,585.13
-3.74%$0.200476
-7.93%$0.639426
-2.60%$0.00549411
-1.78%$7.68
-3.24%$0.161429
-6.13%$0.999738
-0.03%$3.08
-6.04%$0.999119
0.06%$103,719.00
1.55%$6.82
-1.31%$2,582.87
0.11%$0.48858
-4.91%$0.00002405
-0.40%$0.18867
-2.65%$0.435029
-2.40%$1.94
0.24%$0.065464
2.50%$0.092356
-3.65%$0.999805
-0.01%$0.101116
-1.03%$1.73
5.63%$101,896.00
2.02%$0.04958285
-4.45%$0.679642
-2.24%$0.443612
7.95%$2,575.48
-0.19%$0.00839323
-3.10%$0.00000044
1.21%$0.00000112
8.14%$0.04517025
-3.27%$3.55
-2.88%$103,902.00
1.86%$1.087
0.00%$45.27
-0.07%$1.36
-3.75%$0.999419
-0.29%$0.00478034
-7.25%$1.44
9.30%$1.61
-4.11%$0.151695
-2.40%$0.241074
-1.95%$0.999609
-0.02%$0.40055
-5.90%$0.019924
1.49%$1.00
0.21%$34.14
0.80%$2,731.35
-0.04%$1.002
0.44%$0.391759
-0.76%$0.00528878
-6.25%$0.03670049
-0.90%$0.18052
-3.56%$0.00000177
2.43%$135.82
-1.90%$1.001
0.04%$0.792565
-4.86%$0.331767
11.61%$26.73
7.96%$2,836.41
-0.04%$0.844481
-1.50%$0.00351719
-1.93%$0.00006445
-3.47%$0.346859
-10.84%$20.90
-0.05%$2,813.33
0.13%$0.304415
-8.67%$1.10
-0.01%$103,965.00
1.36%$0.265064
-1.26%$0.233216
0.62%$0.999633
0.02%$19.48
-5.31%$2.89
-2.22%$2,583.57
0.14%$23.97
-2.07%$0.712199
-1.54%$0.999571
-0.03%$2,787.11
0.31%$0.999516
0.04%$2,574.98
-0.01%$0.00344848
-2.72%$0.520881
-2.59%$3.53
-3.44%$0.00290842
-7.24%$26.71
6.75%$23.87
-1.79%$0.00
-3.82%$0.573451
-1.84%$0.0006799
-5.37%$0.839877
-3.64%Reading
Cryptocurrency investment firm Galaxy Digital has filed for a Bitcoin exchange-traded fund (ETF)—the eighth company hoping for approval from the Securities and Exchange Commission (SEC).
The application, filed today, is asking the SEC for an ETF to run in the NYSE Arca, an exchange on which both stocks and options are traded.
An ETF allows investors to buy and sell shares that represent the value of an underlying asset continually throughout the day. A Bitcoin ETF, then, would allow investors to buy shares that represent the digital asset. In other words, it’s a way to bet on the price of Bitcoin without the need to buy and store the cryptocurrency itself.
A BitcoinBitcoin ETF doesn’t exist in the US yet but seven other companies are awaiting approval from the SEC.
“The Sponsor [Galaxy Digital] believes that the Trust will provide a cost-efficient way for Shareholders to implement strategic and tactical asset allocation strategies that use bitcoin by investing in the Shares rather than purchasing, holding and trading bitcoin directly,” the application reads.
A third Bitcoin exchange traded fund (ETF) has been approved by Canadian securities regulators, as CI Global Asset Management prepares their own BTC-based offering. The CI Galaxy Bitcoin ETF will launch tomorrow, March 9, under the symbol BTCX on the Toronto Stock Exchange. The new ETF will join the Purpose Bitcoin ETF (BTCC) and Evolve Bitcoin ETF (EBIT), both of which launched just last month. The slate of Bitcoin ETF launches in North American markets is another sign of BTC becoming an instit...
Galaxy is a major New York-based crypto investment firm headed-up by billionaire Bitcoin bull, Mike Novogratz. It manages over $400 million in assets.
Along with Galaxy Digital, Anthony Scaramucci’s SkyBridge Capital, the New York Digital Investment Group (NYDIG), and ETF provider VanEck are some of the other companies that have applied for the product.
But the SEC has repeatedly rejected applications for a Bitcoin ETF in the US, citing concerns over manipulation of the market.
Bitcoin ETFs do exist elsewhere, though. The world’s first Bitcoin ETF got approval in Bermuda last year.
And in Canada, the products have been very popular. Right now, there are three Bitcoin ETFs trading there, which hold a total of 16,600 Bitcoin ($992 million) between them.
When the first one, Purpose Bitcoin ETF, launched (the first Bitcoin ETF in North America), it traded $80 million in its first hour—more than many ETFs do in an entire week.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Hong Kong investment group Avenir snapped up another 3.4 million shares of BlackRock's iShares Bitcoin Trust ETF (IBIT) during the first quarter, bringing its holdings of the fund to nearly $700 million, according to a U.S. regulatory filing published Thursday—further evidence that spot Bitcoin ETFs are gaining traction among financial institutions. Avenir held 14.7 million IBIT shares worth $688 million as of March 31, according to its filing,. That marks a 30% increase from the firm's IBIT ho...
Shares of Bitcoin Depot popped 20% to $2.04 on Thursday after the Bitcoin ATM operator reported a first-quarter profit of $12.2 million compared with a loss of $4.2 million a year earlier. Revenue for the Atlanta-based firm, which manages over 8,400 kiosks in North America that let users convert cash to Bitcoin, rose 19% year-over-year to $164.2 million, according to a filing with the Securities and Exchange Commission. The company said the jump was driven by increased kiosk deployment over the...
AI infrastructure firm CoreWeave reported revenue more than five times higher than a year ago, fueled by surging demand for computing power across the sector. In the company’s first earnings report since going public in March, released Wednesday, CEO Mike Intrator said CoreWeave is "scaling as fast as possible" to meet "accelerating" needs for the booming AI sector. The New Jersey-based AI builder brought in $981.6 million in revenue for the first quarter this year, up roughly $793 million from...