Connect with us

Cryptocurrency

Binance Froze Stolen Assets, Ceases Russian Ruble Deposits

Published

on


  • Ark Invest and 21Shares are set to launch five new crypto ETFs next week, focusing on bitcoin and ether futures.
  • These ETFs, which are actively managed, include the ARK 21Shares Active Bitcoin Ethereum Strategy ETF and the Active On-Chain Bitcoin Strategy ETF.
  • The launch comes amidst a waiting period for the approval of proposed spot bitcoin and ether ETFs by the U.S. Securities and Exchange Commission.

Ark Invest and 21Shares are set to introduce a new suite of crypto ETFs next week, which will be a huge step for the cryptocurrency sector.

These funds, which specialize on bitcoin and ether futures, represent a significant increase in the number of crypto investment products available to investors.

While planned spot Bitcoin and Ethereum ETFs await approval, Ark Invest and 21Shares are taking a step forward by offering these actively managed funds, possibly changing the crypto ETF market and attracting a broader investor base.

Read Also: Why Is Ark Invest Stacking Robinhood Stocks?

A New Class of Crypto ETFs Is Being Introduced

Ark Invest and 21Shares have announced the creation of five new funds that will invest in bitcoin futures contracts, ether futures, or a mix of the two.

These funds, which the firms filed jointly in August, are set to debut on Tuesday and Wednesday, boosting the current offerings in the crypto ETF industry.

Despite the fact that Ark and 21Shares are new to the market, having launched bitcoin futures ETFs in October 2021 and ether futures funds this month, their active management style distinguishes them.

The ARK 21Shares Active Bitcoin Ethereum Strategy ETF is one of the standout offerings in this new portfolio.

This fund seeks to outperform direct bitcoin holdings across a market cycle by allocating to both BTC futures and ETH futures, leveraging historical pricing connections and fundamental analysis.

Another fund, the Active On-Chain Bitcoin Strategy ETF, invests in bitcoin futures and cash equivalents, using on-chain pricing algorithms in part.

A fifth fund in the suite will also mix BTC futures with a concentrated portfolio of crypto-related shares, providing a varied investment approach in the digital asset space.

Differentiating in a Crowded Market

Despite entering an already saturated market, Ark Invest and 21Shares are confident in their ability to differentiate their products by leveraging their experience in both traditional finance and decentralized financing (DeFi).

Ophelia Snyder, president of 21.co, stated that the company intends to cater to a wide range of investors, from crypto veterans to newbies.

This extensive array of solutions is intended to give many entry points into the cryptocurrency investment field, catering to varied risk profiles and investment strategies.

However, Neena Mishra, director of ETF research at Zacks Investment Research, noted that it is difficult to predict the exact demand for these new products.

The success of these new funds remains unknown, with the crypto community anxiously awaiting spot ETFs and a lukewarm reception to ether futures ETFs.

Despite this, recent patterns show an increase in investor interest in futures-based funds, with the ProShares Bitcoin Strategy ETF (BITO) seeing considerable net inflows in the last month.

The Road Ahead for Crypto ETFs

The introduction of these ETFs by Ark Invest and 21Shares comes as the Securities and Exchange Commission prepares to rule on their spot bitcoin ETF proposal by January 10, with a spot ether proposal also under consideration.

These trends imply that mainstream financial markets are becoming more interested in and accepting of crypto-based investment products. During a weak market, Snyder also stressed the potential underestimation of the value and hunger for crypto offers.

With bitcoin (BTC) and ether (ETH) values rising significantly in the last week, there is reason to be optimistic about these new ETFs.

Read Also: Binance Froze Stolen Assets, Ceases Russian Ruble Deposits

Mishra, on the other hand, said that it remains to be seen whether new ETFs can use active management and proprietary trend indicators to outperform existing bitcoin and ether-based products.

The impending introduction of crypto ETFs from Ark Invest and 21Shares marks a watershed moment in the growth of cryptocurrency investment products.

As the market matures, these ETFs provide additional opportunities for investors to obtain exposure to digital assets, potentially opening the path for larger institutional acceptance and integration of cryptocurrencies into diverse investment portfolios.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Cryptocurrency

Cryptocurrency Market Update: Bitcoin Slips Below $70,000 Amidst High Liquidation

Published

on

By

In a swift turn of events, Bitcoin (BTC), the pioneering cryptocurrency, dropped below the $70,000 threshold early on Wednesday following a wave of investor sell-offs. Just a day prior, Bitcoin had crossed the $71,000 mark, but market sentiment swiftly shifted, dragging other major altcoins—including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC)—into the red zone.

According to CoinMarketCap data, the overall Market Fear & Greed Index stood at 75 (Greed) out of 100, indicating a mix of optimism and apprehension among traders. Notably, the Bittensor (TAO) token emerged as the top gainer with a remarkable 24-hour surge of over 7 percent, while dogwifhat (WIF) experienced the largest loss, plummeting nearly 16 percent.

Bitcoin (BTC) Price Update Bitcoin’s price tumbled to $69,089.01, marking a 24-hour dip of 3.05 percent, as reported by CoinMarketCap. On the Indian exchange WazirX, BTC was priced at Rs 60.93 lakh.

Other Major Cryptocurrencies Ethereum (ETH) saw a 24-hour loss of 4.81 percent, trading at $3,508.86, while Dogecoin (DOGE) registered a dip of 5.59 percent, currently priced at $0.1879. Litecoin (LTC) and Ripple (XRP) also experienced losses, with Solana (SOL) marking a 24-hour loss of 3.44 percent.

Top Gainers and Losers Bittensor (TAO) led the pack of gainers with a 7.30 percent surge, while dogwifhat (WIF) suffered the most significant loss, dropping by 15.58 percent.

Market Analysis and Expert Insights Experts weighed in on the market scenario, attributing Bitcoin’s downturn to heightened liquidations and cautious sentiment ahead of the upcoming US CPI data release. While Bitcoin’s immediate support rests at $67,700, resistance is expected at $70,400. Ethereum proponents face challenges amid hopes for an ETF approval, with the SEC providing limited updates on the matter.

Final Thoughts The cryptocurrency market remains highly dynamic, with prices fluctuating rapidly and investor sentiment playing a pivotal role. As the market navigates through volatility, it’s essential for investors to stay informed, exercise caution, and seek expert advice before making any investment decisions.

Continue Reading

Cryptocurrency

Cryptocurrency: A Scapegoat for Foreign Policy Failures?

Published

on

By

Cryptocurrency has once again found itself at the center of a heated debate, this time regarding its alleged role in facilitating illicit activities and circumventing sanctions imposed by the United States. The Biden administration, in particular, has come under scrutiny for its handling of the issue, with some accusing it of using digital assets as a convenient scapegoat for broader foreign policy shortcomings.

In a recent hearing before the Senate Banking Committee, Deputy Treasury Secretary Wally Adeyemo raised concerns about the misuse of cryptocurrencies by foreign adversaries such as Iran, Russia, North Korea, and militant groups like Hamas. Adeyemo’s remarks underscored a growing unease within the U.S. government regarding the potential national security implications of unregulated digital currencies.

However, voices from within the cryptocurrency industry and Congress have pushed back against the administration’s narrative. Faryar Shirzad, Chief Policy Officer at Coinbase, one of the leading cryptocurrency exchanges, pointed out that the prevalence of illicit activity in the crypto space is relatively low compared to traditional finance. Instead of demonizing cryptocurrencies, Shirzad argued, the focus should be on targeting bad actors operating offshore.

Senator Tim Scott, the ranking Republican on the Senate Banking Committee, echoed these sentiments, accusing the Biden administration of using digital assets as a distraction from its failure to effectively combat financial flows to sanctioned entities. Scott’s criticism reflects broader skepticism among some lawmakers about the government’s approach to regulating cryptocurrencies.

One area of potential agreement between the Biden administration and the cryptocurrency industry is the need for clearer regulations governing stablecoins, a type of digital asset pegged to a fiat currency like the U.S. dollar. Both sides recognize the importance of addressing the potential risks associated with stablecoin issuance and usage, particularly in the context of national security and financial stability.

The debate over stablecoins has intensified following reports of their alleged role in facilitating illicit transactions, including those linked to Russia’s war effort in Ukraine. The Treasury Department has called for increased oversight of stablecoin issuers and transactions, while also advocating for legislation that would subject them to stricter regulatory standards.

Despite the contentious nature of the discussion, there are signs of bipartisan cooperation on certain aspects of cryptocurrency regulation. A bipartisan bill addressing stablecoin regulation passed the House Financial Services Committee last year, signaling a potential path forward for legislative action in this area.

As the debate over cryptocurrency regulation continues to unfold, it is clear that finding the right balance between innovation and security will be paramount. While concerns about illicit activity and national security must be addressed, policymakers must also recognize the potential benefits of cryptocurrencies in fostering financial inclusion and technological advancement.

Ultimately, the resolution of these issues will require thoughtful collaboration between government officials, industry stakeholders, and lawmakers to develop a regulatory framework that promotes innovation while safeguarding against misuse. Only through constructive dialogue and cooperation can we ensure that cryptocurrencies fulfill their potential as a force for positive change in the global economy.

Continue Reading

Cryptocurrency

Bitcoin Resurgence: Why Wall Street Is Embracing the Crypto Revolution

Published

on

By

Andrew Pratt of Wiser Wealth Management in Marietta, Ga., finds little resistance as he proposes Bitcoin investments to his firm’s committee. With Bitcoin surging 140% in the past year and backed by giants like BlackRock, skepticism has waned. Pratt sees the potential to allocate a modest 1% of client portfolios to Bitcoin, acknowledging the limited downside risk compared to potential gains.

The debate over Bitcoin’s intrinsic value seems to have lost its relevance amidst its soaring market performance. Once dismissed, Bitcoin now boasts a market value of $1.3 trillion, driving the total crypto market to $2.5 trillion. Wall Street, once wary, now views cryptocurrency as an opportunity for profit rather than a speculative venture.

Despite lingering doubts about Bitcoin’s utility beyond speculation, Wall Street executives are increasingly supportive. BlackRock’s CEO, Larry Fink, notably reversed his stance, endorsing Bitcoin’s long-term prospects and championing the iShares Bitcoin Trust, now one of the largest Bitcoin ETFs with nearly $18 billion in assets.

While skepticism persists about Bitcoin’s status as a real asset or currency, its growing acceptance on Wall Street underscores the evolving landscape of finance. As institutions embrace cryptocurrencies, Bitcoin’s journey from pariah to portfolio asset highlights the transformative power of digital assets in reshaping traditional investment strategies.

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.