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Bitcoin ETF

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Bitcoin Surpasses Silver as Second-Largest ETF Commodity After Gold

Bitcoin exchange-traded funds (ETFs) have surpassed silver ETFs in terms of assets under management (AUM) within just one week of trading, making Bitcoin the second-largest commodity ETF after gold. The Grayscale Bitcoin Trust ETF (GBTC) alone possesses around 619,000 bitcoins, contributing significantly to the overall AUM of Bitcoin ETFs. Silver has now been relegated to the third position in terms of AUM within the single commodity ETF asset class, with approximately $11.5 billion distributed across five ETFs. BlackRock Inc’s Bitcoin ETF has attracted over $1 billion in investor inflows, making it the first among the recently launched group of nine ETFs directly holding the cryptocurrency to surpass this milestone since their debut last week.

JP Morgan Expects Significant Funds to Pour into New Bitcoin ETFs Despite Skepticism

J.P. Morgan predicts that significant funds from existing crypto products will flow into the newly approved spot bitcoin exchange-traded funds (ETFs), although it remains unclear how much fresh capital will be attracted. The bank is sceptical about the optimism surrounding the entry of new capital into the cryptocurrency market as a result of the ETF approval. However, the new ETFs could still attract inflows of up to $36bn, with up to $3bn expected to exit the Grayscale Bitcoin Trust and migrate to the new spot ETFs. The bank also predicts up to $20bn from retail investors migrating from digital wallets held at crypto exchanges to the new ETFs.

Crypto Biz: Bitcoin ETFs debut, asset tokenization, Ripple’s buyback and more

The approval of Bitcoin ETFs can open the doors for further derivatives products and enhance BTC’s role in decentralized finance, but its long-term impact may go far beyond financial markets.
Crypto Biz: Bitcoin ETFs debut, asset tokenization, Ripple’s buyback and more

Bloomberg Analyst: BlackRock’s Bitcoin ETF Volume Hits $2 Million

ETF analyst Eric Balchunas from Bloomberg stated on X platform that BlackRock's Bitcoin ETF (IBIT) has traded stocks worth $2 million. For a regular ETF, this is already a good first full-day trading volume, let alone during the market trading period at 6 am. However, this trading volume is likely to be carefully planned by BlackRock as it slowly injects funds. Nevertheless, this is a good early indication of an important day.

The average fee rate of the top ten Bitcoin ETFs in Europe is 1.047%, and the fee rate of the Bitcoin ETF pending approval in the United States is only 0.451%

Patrick Hansen, the Director of Circle's EU Strategy and Policy, wrote on X platform that the average fee for the top ten Bitcoin ETF/ETNs in Europe is 1.047%, while the average fee for the ten Bitcoin ETFs (excluding GBTC) awaiting approval in the United States is only 0.451% (after deduction).

Tuttle Capital files with SEC for six leveraged and inverse Bitcoin ETFs

According to Jinse Finance, Tuttle Capital has applied to the US Securities and Exchange Commission (SEC) for six new Bitcoin exchange-traded funds (ETFs). On January 3, Tuttle Capital submitted three separate N1-A documents to the SEC. The proposed structure of Tuttle Capital's Bitcoin ETFs provides leveraged and inverse investment options based on the performance of the reference spot Bitcoin ETF, which is still pending approval from the SEC.

Morgan Creek founder: If I were a spot Bitcoin ETF issuer, I would donate 1% of revenue to BTC developers

Apompliano, founder of Morgan Creek, posted on social media, stating that if he were a spot Bitcoin ETF issuer, he would win the asset management scale battle by:

Eric Balchunas: If the SEC approves such a product as a spot Bitcoin ETF, disclosing the AP is one of the last steps before launch

Bloomberg analyst Eric Balchunas said that disclosing authorized participants (AP) is one of the final steps before launching a spot Bitcoin ETF, if approved by the US Securities and Exchange Commission. So far, Fidelity, Invesco, Valkyrie, and WisdomTree have designated APs for their proposed spot Bitcoin ETFs, along with BlackRock. Fidelity has designated Jane Street and JPMorgan Securities as its AP, matching BlackRock's earlier selection. Valkyrie has designated Jane Street and Cantor Fitzgerald as its AP, while WisdomTree has also designated Jane Street for the role. Meanwhile, Invesco plans to use JPMorgan Securities and Virtu Securities as its proposed Bitcoin fund's AP. However, Bitwise, VanEck, Ark Invest, and 21Shares did not mention APs or expense ratios in their revised S-1s this week.

BlackRock appoints Jane Street and JP Morgan as authorized dealers for its spot Bitcoin ETF

On December 30th, Bloomberg analyst Eric Balchunas posted on social media that BlackRock submitted a revised S-1 form for its Bitcoin ETF to the SEC, designating Jane Street Capital and JP Morgan Securities as authorized participants for its ETF.

Fidelity appoints Jane Street as its authorized dealer for spot Bitcoin ETF, with a fee of only 0.39%, the lowest currently

On December 30th, ETF analyst Eric Balchunas from Bloomberg announced on social media that Fidelity has submitted a revised S-1 document for its Bitcoin ETF, designating Jane Street Capital as the Authorized Participant for the ETF's spot Bitcoin trading. It is worth noting that the Sponsor Fee for Fidelity's spot Bitcoin ETF is only 0.39%, the lowest to date.