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Valkyrie Secures Go-Ahead for Bitcoin Futures ETF
October 20, 2021--The crypto-native fund manager is the third sponsor of a bitcoin futures exchange-traded fund to clear all regulatory hurdles.
Valkyrie Investments's bitcoin futures exchange-traded fund (ETF) has won the blessing of the U.S. Securities and Exchange Commission.
The new ETF is set to start trading on Friday, after the bitcoin-linked fund cleared the final regulatory hurdles, a Valkyrie spokesperson said. It will trade on Nasdaq under the ticker BTF on Nasdaq, despite short-lived plans to adopt the more meme-centric ticker BTFD.
Valkyrie is only the third investment company-and the first crypto-native- to receive the Securities and Exchange Commission's greenlight. The ProShares Bitcoin Strategy ETF (stock ticker BITO) launched Tuesday. VanEck's own bitcoin futures ETF offering is slated to trade starting early next week.
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Source: coindesk.com
First Ever Real Estate Tech ETF Launched by ETF Managers Group (ETFMG)
October 20, 2021--HHH is the World's First ETF to Provide Exposure to the Technology Transforming the Global Real Estate Industry
ETF Managers Group LLC (ETFMG(R), a leading exchange-traded fund issuer, announced that the ETFMG Real Estate Tech ETF (NYSE Arca: HHH) will begin trading today on the New York Stock Exchange.
HHH is the world's first ETF designed to give pure-play exposure to global technology companies that are digitally transforming the real estate industry to optimize the way people research, rent, buy, sell, insure and manage property.
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Source: ETFMG
Invesco Drops Pursuit of Bitcoin Futures ETF Filing Before Debut
October 19, 2021--Invesco Ltd. has dropped its pursuit of a futures-backed Bitcoin exchange-traded fund hours before the first such product is set to launch on a U.S. exchange.
"We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term; however we will continue to work in partnership with Galaxy Digital to offer investors full shelf of products with exposure to this transformative asset class, including pursuing a physically backed, digital asset ETF," an Invesco spokesperson said in a statement.
The firm declined to comment further.
The decision comes on the eve before the ProShares Bitcoin Strategy ETF (ticker BITO) begins trading.
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Source: bnnbloomberg.ca
First U.S. bitcoin futures ETF launches. Strategist behind it on what's next
October 19, 2021--The firm behind the first U.S. bitcoin futures-based exchange-traded fund has high hopes for its new product.
The ProShares Bitcoin Strategy ETF (BITO), which tracks bitcoin futures contracts, rose as much as 3% in its Tuesday debut.
Though some are concerned that a futures-based ETF could deviate from bitcoin's spot price, ProShares' head of investment strategy, Simeon Hyman, sees it another way.
NYSE Arca Files Form 19b-4 to Convert Grayscale(R) Bitcoin Trust into an ETF
October 19, 2021--The filing reflects Grayscale's ongoing commitment to converting its entire family of digital currency investment products into ETFs
Grayscale Investments(R), the world's largest digital currency asset manager, announced today that NYSE Arca has filed Form 19b-4 with the Securities and Exchange Commission (SEC) to convert Grayscale's flagship product, Grayscale(R) Bitcoin Trust (OTCQX: GBTC), into a Bitcoin Spot ETF.
The move comes on the heels of the SEC's clearance of a Bitcoin Futures ETF.
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Source: Grayscale Investments
Women Investors Outperform Men: Fidelity
October 19, 2021--Fidelity says that women retail clients did better investing in the stock market than the firm’s male customers -yet few women feel confident about their investing prowess.
Female Fidelity customers outperformed males by 0.4%, the company found in an analysis of five million customers' accounts over the last decade.
And women are branching out: 67% are now investing outside of their retirement accounts, compared to 44% who did so in 2018, Fidelity found in a survey of 2,400 American adults.
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Source: financialadvisoriq.com
SEC Staff Releases Report on Equity and Options Market Structure Conditions in Early 2021
October 18, 2021--The Securities and Exchange Commission today published a Staff Report on Equity and Options Market Structure Conditions in Early 2021, which focuses on the January 2021 trading activity of GameStop Corp (GME), the most famous of the "meme stocks." Because the meme stock episode raised several questions about market structure, the staff report also provides an overview of the equity and options market structure for individual investors.
"January's events gave us an opportunity to consider how we can further our efforts to make the equity markets as fair, orderly, and efficient as possible," said SEC Chair Gary Gensler. "Making markets work for everyday investors gets to the heart of the SEC's mission. I would like to thank the staff for bringing their expertise to this important report, and for their ongoing work on to address the issues that January’s events raised."
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Source: SEC.gov
ProShares to Launch the First U.S. Bitcoin-Linked ETF on October 19
October 18, 2021--BITO will offer access to bitcoin with the convenience, liquidity and tradability of an ETF
ProShares, a premiere provider of ETFs, plans to launch the first bitcoin-linked ETF in the United States (NYSE Ticker: BITO) tomorrow, October 19, 2021. BITO's launch will mark a milestone for ETFs.
BITO will offer investors an opportunity to gain exposure to bitcoin returns conveniently, through a brokerage account. BITO can be bought and sold like a stock and eliminates the need for an account at a cryptocurrency exchange and for a crypto wallet.
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Source: proshares.com
Interactive Brokers launches crypto trading in US for four tokens
October 18, 2021--U.S.-based financial advisers with Interactive Brokers are now able to recommend cryptocurrency investments to their clients.
Brokerage firm Interactive Brokers Group is allowing investment advisers registered with the company to trade four cryptocurrencies.
In a Monday announcement, Interactive Brokers said its Registered Investment Advisers would be able to trade and custody Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) for clients using Paxos Trust Company. The firm reported this service was currently available only for its advisers in the United States but it plans to launch crypto trading for global clients in the future.
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Source: cointelegraph.com
Bond bankers and investors cry foul over rule change
October 16, 2021--SEC stands firm in applying disclosure regulation to fixed-income trading
After US regulators finalised an amendment to a 50-year-old rule designed to limit fraud in penny stocks, lawyer Bruce Newman at WilmerHale did what lawyers do and went through it with a fine tooth comb.
In a note to his clients in October last year, he detailed the pertinent parts of the rule for those looking to comply with it, mostly around disclosures that dealers must check before quoting prices on a security. Then he noted something that would eventually send tremors through Wall Street trading desks.
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Source: ft.com
