Crypto ETF News

[tsptalk]

Once again, bitcoin investors hold their breath for an ETF approval


The crypto community anxiously awaits a possible exchange-traded fund, or ETF, approval this week.
According to Securities and Exchange Commission rules, the agency has until Thursday to decide on a bitcoin futures-based ETF submitted by ProShares.

An ETF for bitcoin could bring in a wave of institutional buyers and help struggling prices.

Kate Rooney | @Kr00ney


https://www.cnbc.com/2018/08/22/once-again-bitcoin-investors-hold-their-breath-for-an-etf-approval.html

[Bullitt]

Unsustainable trend watch: Ethereum ETF is trading at a massive premium.


Would you pay someone $205 for an asset worth only $21.87?

Of course not; what a ridiculous question.

And yet, investors in the Ethereum Trust ($ETHE) are doing just that, paying a stunning 837% premium above the net asset value (NAV) of the underlying holdings (Ethereum, a cryptocurrency).

https://compoundadvisors.com/2020/are-investors-rational

[Bullitt]

Coinbase possibly going public in 2020. Even though commissions have been axed on stock trading, Coinbase still makes money on crypto-currency transactions.


Coinbase Inc has started plans for a stock market listing that could come as early as this year, making it the first major U.S. cryptocurrency exchange to go public, according to three people familiar with the matter.

https://www.reuters.com/article/us-coinbase-ipo-exclusive/exclusive-crypto-exchange-coinbase-readies-landmark-stock-market-listing-sources-say-idUSKBN24A21W

[bmneveu]

Neat! I'll throw some coin at that if they do indeed go public.

[Bullitt]

Another Bitcoin Futures ETF launched today, XBTF. Fees are lower than the other two, but with contango all these are for are trading anyway.

BITO enthusiasm has cooled significantly. Inflows are $1.4B, with about $1.1B of that coming in on opening day just under a month ago.

As of today, the three bitcoin future ETF's are BITO, BTF and XBTF. GBTC is similar to an ETF, but due to the way it's constructed, it is not. In the end it all comes down to what your goals are with cryptocurrency.