Latest news with #ARK21Shares
Reuters
3 days ago
- Business
- Reuters
ARK 21Shares Bitcoin ETF to undergo 3-for-1 share split on June 16
June 2 (Reuters) - 21Shares US said on Monday it will carry out a 3-for-1 share split of its ARK 21Shares Bitcoin ETF (ARKB.Z), opens new tab to make the fund more accessible to investors, with the move set to take effect at market open on June 16. The approval of such spot bitcoin ETFs in January 2024 by the U.S. Securities and Exchange Commission, marked a watershed moment for the digital assets industry, ending a decade-long wait and signaling growing regulatory acceptance. The funds, which have rapidly grown in popularity, offer direct exposure to bitcoin through traditional markets, allowing institutions and other investors to participate without holding the token, bolstering credibility and inflows into the sector. ARKB has gained almost 12% so far this year and nearly 27% quarter-to-date. It closed trading at $104.25 on Monday. Meanwhile, bitcoin , the world's largest and most widely recognized cryptocurrency, has also climbed above the $100,000 mark, a level seen as key by many market participants. Companies typically split shares to lower the trading price per unit, aiming to attract a broader base of retail investors and improve liquidity. The share split will not affect ARKB's net asset value, ticker symbol, or investment strategy, and its shares will continue trading under the same CUSIP, the company said.
New York Post
22-04-2025
- Business
- New York Post
Gold hits record high of $3.5K, Bitcoin tops $90K as investors flee US dollar
Gold hit a new high on Tuesday and bitcoin broke through the $90,000 threshold as anxiety over the US dollar's strength sent investors looking for other safe havens. With President Donald Trump's tariff policies throwing markets into turmoil, traditional and emerging alternatives — most notably gold and bitcoin — have rapidly gained favor. On the New York Mercantile Exchange, gold surpassed $3,500 per troy ounce to reach a new record before retreating to around $3,426 just before noon ET as Wall Street rebounded from Monday's sell-off. Advertisement 4 Gold soared to new highs on Tuesday as investors look for alternative venues amid a declining US dollar. Getty Images The precious metal has soared nearly 30% since Trump returned to the White House. 'Orders from central banks and retail investors are driving a historic surge in gold,' analysts at JPMorgan noted, adding they expect gold to average $3,675 per ounce by the fourth quarter and potentially hit $4,000 by mid-2026. Bitcoin also got a boost, climbing to nearly $91,000 — its highest level since early March — .to narrow its year-to-date loss to under 5%. Spot bitcoin ETFs also rallied, with the iShares Bitcoin Trust (IBIT) and others gaining 2.4%, after a 3% jump on Monday. Advertisement ETFs rebounded above their 50-day moving averages, boosted by $381.3 million in total inflows on Monday. The ARK 21Shares ETF (ARKB) led with $116.1 million, followed by Bitwise (BITB) with $87.6 million, and iShares with $41.6 million. The sharp rise in gold and bitcoin has been triggered by investor concerns over both geopolitics and domestic monetary policy. Advertisement 4 Bitcoin surged early Tuesday, climbing to nearly $89,150 — its highest level since early March. REUTERS President Trump on Monday posted a social media message suggesting the Federal Reserve should act immediately to lower interest rates, despite recent signs of slowing inflation. Many interpreted the message as a not-so-veiled threat toward Fed Chair Jerome Powell. Rania Gule of pointed to growing global skepticism toward the dollar. Advertisement The ICE US Dollar Index, which tracks the dollar against a basket of major currencies, fell by over 1% on Monday, making dollar-denominated assets like gold more attractive to international buyers. The greenback rose 0.45% as of noon Tuesday. 4 On the New York Mercantile Exchange, continuous gold futures rose more than 1% — surpassing $3,500 per troy ounce before retreating to around $3,426 just before noon Eastern time on Tuesday. 'Declining faith in the dollar is one of the key factors pushing gold higher,' Gule said. Michael Brown, a market strategist at Pepperstone, echoed the sentiment. 'Investors are reducing exposure to US assets amid policy instability. Gold is one of the few instruments shielded from the volatility Trump can introduce with a single post.' That instability has sparked interest not just in gold but also in bitcoin, as investors diversify away from the dollar. The digital currency has risen sharply in tandem with gold, reflecting a broader shift in portfolio strategies. Advertisement With traditional financial assets like US equities and Treasury bonds now under pressure, many are turning to bitcoin as a hedge. Physical gold ETF holdings are also at their highest level since 2023, and JPMorgan estimates central banks alone will purchase around 900 metric tons of bullion in 2025 after acquiring 1,045 tons in 2024 — accounting for roughly 20% of global demand. Meanwhile, the US dollar index has dropped to its lowest level since February 2022, prompting renewed fears about the dollar's global standing. 4 Investor confidence in traditional safe havens like the US dollar and US Treasurys has been shaken in recent months. Christopher Sadowski Advertisement While a weaker dollar can benefit exports, the timing is problematic. 'We're seeing capital flight from what were once the safest assets — US Treasuries and equities — at a moment when the economy may be tipping toward recession,' a senior economist told Investor's Business Daily. Compounding matters, the US posted a record $1.2 trillion trade deficit in 2024, while its net international investment position fell to -$26.2 trillion — figures Trump himself has criticized. Advertisement But his plan to reverse those numbers through steep tariffs lacks the transitional policies needed to avoid financial disruption, economists warn. 'This kind of economic whiplash,' JPMorgan's analysts wrote, 'is precisely what drives capital into alternatives like gold and bitcoin.'
Yahoo
19-03-2025
- Business
- Yahoo
21Shares to Liquidate 2 Bitcoin and Ethereum Futures ETFs
Crypto asset manager 21Shares is liquidating two bitcoin and ethereum futures exchange-traded funds, according to a recent press release. The move comes amid a crypto market slump that's developed due to concerns of a possible economic recession. The ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY) and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) will liquidate 'on or around March 28.' Investors can trade their holdings in the two funds until the end of the trading day on March 27. The scheduled liquidation is taking place 'based on routine review of the firm's product lineup to ensure it aligns with market dynamics, the needs of its clients and a maturing digital assets landscape,' according to the press release from 21Shares. ARKY seeks capital appreciation through a portfolio of bitcoin and ether futures contracts, while ARKC seeks capital growth by investing in the ARK 21Shares Active Bitcoin Futures Strategy ETF (ARKA), bitcoin futures contracts and cash equivalents. Both funds are actively managed, and they have expense ratios of 1% and 0.93%, respectively. Investors who continue to hold shares in ARKY and ARKC on the liquidation date will receive distribution payouts equal to their proportion of the fund's net asset value, which may result in a taxable event. In the press release, the issuer advised investors to consult their tax advisors about the potential tax liability resulting from the receipt of liquidation proceeds. 21Shares and ARK Invest did not immediately respond to request for comment. Bitcoin and ethereum ETFs have suffered of late as investors worried about trade wars and the possibility of a recession turn to lower-risk investments, such as bond funds. The world's largest crypto ETF, the iShares Bitcoin Trust (IBIT), is down 9.3% year to date, while bitcoin's price is down roughly 10% for the year and ether is off 42%.Permalink | © Copyright 2025 All rights reserved
