Press Releases TheBitTimes.com

ProShares’s new Short Ether Strategy ETF is set to start trading on the NYSE Arca under the ticker symbol SETH. ProShares, a major issuer of exchange-traded funds (ETF), has officially announced the launch of the short Ether- linked ETF. Incepted on Nov. 2, ProShares’s new Short Ether Strategy ETF is set to start trading on the New York Stock Exchange’s (NYSE) Arca under the ticker symbol SETH. The new crypto ETF is designed to provide investors with an opportunity to profit from the volatility of the Ether price. Similarly to other ProShares crypto- linked ETFs, SETH seeks to obtain exposure through Ether futures contracts, the announcement notes. According to ProShares CEO Michael Sapir, SETH aims to address the challenge of acquiring short exposure to ETH, “which can be onerous and expensive.” “With today’s launch of SETH, ProShares now offers investors opportunities to profit both on days when Ether increases and when it drops — all through the convenience of a traditional bro...

Hashdex's approach differs from recent filings as it won't depend on the Coinbase surveillance sharing agreement, opting to acquire spot Bitcoin from physical exchanges within the CME market. Hashdex, a crypto asset management company, has joined the competition for a spot Bitcoin (BTC) ETF in the United States. The firm, known for its global leadership in crypto asset management, has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a Bitcoin futures ETF that will hold actual spot Bitcoin.  Exchange-traded funds, or ETFs, are investment funds that trade on a stock market with their value derived from an underlying basket of assets such as stocks, bonds, commodities and other financial instruments. Similarly, Bitcoin ETFs track BTC's value and trade on traditional stock exchanges rather than crypto exchanges. Hashdex's approach differs from recent filings as it won't depend on the Coinbase surveillance sharing agreement, opting to ac...

Bitcoin price has been showing weakness near the $30,000 level, but multiple data points highlight the fact that bears remain at a disadvantage. Bitcoin (BTC) price gave back some of its recent gains this week, but multiple data points suggest that $30,000 should hold as support going forward. Bitcoin remained within a narrow 4.3% range for the 15 days leading up to July 7. Despite the proximity of the $29,895 to $31,165 range, investors' sentiment was significantly impacted by an unsuccessful attempt to break above $31,400 on July 6. Trader’s tendency to overreact to short-term price movements rather than Bitcoin's year-to-date gains of 82% could be part of the reason for the short-term correction This same rationale applies to the events related to other cryptocurrencies. At the front of investors' minds are questions about whether the recent price gains were solely driven by multiple spot Bitcoin exchange-traded fund (ETF) requests. Other pressing developments inclu...

Want some worthless "paper" Bitcoin? With the rise of Bitcoin ETFs, you might soon have the chance to invest in something as worthless as the U.S. dollar. Recent weeks have seen a surge in interest from traditional finance for crypto -based exchange -traded funds (ETFs). After the Securities and Exchange Commission took issue with its initial filing, BlackRock submitted a fresh application for a Bitcoin ETF on July 3. A week earlier, Fidelity led a crop of investment firms in lodging applications with the SEC for Bitcoin-based ETFs. Meanwhile, HSBC has become the first bank to offer Bitcoin (BTC) and Ether (ETH) ETFs to customers in Hong Kong. In the context of Bitcoin, it is often the seemingly positive news that is harmful over the longer term; and vice versa, short-term negative news often serves to strengthen the ongoing case for Bitcoin. A good example of the latter is the 2017 “Blocksize War,” when the Bitcoin community split into the big block camp that launched the B...

In the eyes of the SEC, the recent filings from BlackRock, ARK Invest, Fidelity and other asset managers are not "sufficiently clear and comprehensive." There may be a longer wait for a spot Bitcoin exchange-traded fund (ETF) in the United States as the Securities and Exchange Commission (SEC) labeled investment managers' recent applications inadequate . According to the Wall Street Journal, the securities regulator told the Nasdaq and the Chicago Board Options Exchange (Cboe) that their filings are not "sufficiently clear and comprehensive." These exchanges represent asset managers in the filing of the financial product. In the eyes of the SEC, the exchanges should have named the spot Bitcoin exchange with which they would have a "surveillance-sharing agreement" or provided sufficient information about the details of those surveillance arrangements. However, asset managers can resubmit the filings after clarifying the information. Bitcoin ETFs: A ...