On Wednesday morning, a mysterious X profile emerged calling itself the “Second Foundation” an apparent reference to a splinter organization from the Ethereum Foundation, which has come under fire in recent days due to a widespread perception that one of Ethereum’s leading research and development units is falling behind. While not much is known about the @2nd_foundation_ entity, which only follows the first and to date only official Ethereum Foundation account on X, it seems to have been created as a sort of protest against the current foundation………Continue reading……
By: Daniel Kuhn
Source: The Block
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According to SEC filings, Cboe Exchange received approval to offer options on the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB). The fund’s holdings consist primarily of Bitcoin, with 99% of its portfolio allocated to the cryptocurrency. This achievement reflects strong user demand and is a testament to the growing interest in regulated and transparent financial vehicles for gaining exposure to bitcoin.
The iShares Bitcoin Trust ETF is not an investment company registered under the Investment Company Act of 1940, and therefore is not subject to the same regulatory requirements as mutual funds or ETFs registered under the Investment Company Act of 1940. BITI, the first short bitcoin ETF, offers investors the potential to profit on days when bitcoin drops. Spot bitcoin ETFs are a new class of investments that allows investors to invest in bitcoin at their convenience with far less risk.
They are available through retirement accounts, and on automated investing platforms (robo-advisors), and online brokerages during open market hours, but not on crypto exchanges. a 3x Bitcoin ETF does not currently exist, but one may be introduced in the future. A 3x Bitcoin ETF would aim to triple the performance of the Bitcoin index or benchmark it tracks. However, leveraged ETFs are risky investments, and 3x ETFs are especially risky because they use more leverage to achieve higher returns.
GBTC is the oldest fund, with bitcoin investments that converted to an ETF when the U.S. Securities and Exchange Commission allowed spot bitcoin ETFs earlier this year. At that time, GBTC’s assets surpassed $24 billion. BlackRock’s spot bitcoin ETF has become one of the fastest-growing ETFs of all time since its January debut, ending a decade-long campaign to bring a fully-fledged bitcoin spot ETF to market.
Who owns the most Bitcoin in the world? The top Bitcoin holder is still believed to be Satoshi Nakamoto, the anonymous creator of Bitcoin, who reportedly holds around 1.1 million BTC across many wallets. Despite this large holding, the top 15 holders collectively only possess about 7.5% of the total Bitcoin supply. IBIT is preferable for those seeking an ETF structure with competitive fees and direct exposure to Bitcoin, while GBTC suits investors seeking exposure to Bitcoin’s price movements despite potentially higher fees and the risk of trading at premiums or discounts.
Spot Bitcoin ETFs do not pay dividends, as Bitcoins do not generate any income. The investment value of spot Bitcoin ETFs is derived mainly from the appreciation (or depreciation) in the price of Bitcoins. The List of Bitcoin ETFs & Their Outlooks Now that we’ve finally hit the finish line, it’s time to take a look at each of the bitcoin ETFs that’s been approved and their prospects for the future. There are 11 in total.
Largest shareholders include Millennium Management Llc, Capula Management Ltd, Goldman Sachs Group Inc, Jane Street Group, Llc, Aristeia Capital Llc, Morgan Stanley, Avenir Tech Ltd, Schonfeld Strategic Advisors LLC, Sculptor Capital LP, and State Of Wisconsin Investment Board . The fund is non-diversified. Low commission rates start at $0 for U.S. listed stocks & ETFs*. Margin loan rates from 5.83% to 6.83%. Commission-free trading on stocks & ETFs.
Spot Bitcoin ETFs are financial instruments that track Bitcoin’s price by holding the actual cryptocurrency in reserve and backing each share of the ETF with real Bitcoin. These ETFs provide investors with direct exposure to Bitcoin’s price movements without the need to buy, store, or manage Bitcoin themselves. There were already crypto-related ETFs and trusts out there, but there had never been a spot Bitcoin ETF on the market before the Jan. 2024 approval. These recently approved ETFs are the first cryptocurrency funds to trade on a major exchange and hold Bitcoin directly.
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