Latest news with #EthereumFund
Yahoo
29-05-2025
- Business
- Yahoo
U.S. Spot Crypto ETFs Saw Strong Inflows on Wednesday, JPMorgan Says
U.S.-listed spot crypto exchange-traded funds (ETFs) saw strong net inflows Wednesday, with both ether ETH and bitcoin BTC products continuing to draw investor interest despite declines in underlying asset prices, investment bank JPMorgan (JPM) said. U.S. spot ether ETFs logged an estimated $84 million in net inflows on May 28, as investor interest held firm even with ether falling 1.3%, the bank said in a report published on Thursday. Leading the pack was BlackRock's iShares Ethereum Trust (ETHA), which brought in $52 million, followed by Fidelity's Ethereum Fund (FETH) with $26 million. Grayscale's mini ETH Trust and Invesco/Galaxy's QETH added $5 million and $2 million, respectively, the bank noted. Notably, ether ETFs recorded a notional trading volume of $459 million, well above their post-launch daily average of approximately $375 million since debuting in July 2024, the bank observed. Meanwhile, spot bitcoin ETFs brought in an estimated $431 million in net inflows, JPMorgan said, largely powered by BlackRock's iShares Bitcoin Trust (IBIT), which alone saw $479 million in new investment. The strong inflow was partially offset by redemptions from ARK 21Shares Bitcoin ETF (ARKB), the bank noted, which shed $34 million, and Fidelity's FBTC, which recorded $14 million in outflows. Despite bitcoin's 2.1% drop in price, total trading volumes remained elevated, clocking in at $3.5 billion, compared to the group's historical average of $2.8 billion per day since launching in January 2024, the report added. Investors are moving from gold to bitcoin ETFs, according to a Thursday report by Bloomberg. U.S. bitcoin ETFs have seen $9 billion in inflows over the last 5 weeks versus $2.8 billion in outflows for gold-backed funds.
Yahoo
16-04-2025
- Business
- Yahoo
SEC Delays Decisions on In-Kind Redemptions, Ether ETF Staking
The Securities and Exchange Commission (SEC) is not yet ready to make a decision on two critical features that issuers of the spot crypto exchange-traded funds (ETFs) are hoping to add to their products. The regulator delayed a decision on whether it will allow in-kind redemptions for WisdomTree's Bitcoin Fund (BTCW) and VanEck's Bitcoin Fund (BITB) and Ethereum Fund (ETHW) on Monday. It also moved its deadline for a decision in regards to a proposal by Grayscale to allow staking its Ethereum Trust (ETHE) and Mini Ethereum Trust (ETH), which the asset manager's exchange, NYSE Arca had requested in February. Cboe, the exchange that is associated with five of the other issuers of an ether ETF, including Fidelity, Franklin Templeton, VanEck and Invesco/Galaxy, submitted its amended filing in March for the Fidelity Ethereum Fund (FETH) and the Franklin Ethereum ETF (EZET). The SEC has not previously allowed staking in spot ether ETFs. But with the appointment of new SEC Chair Paul Atkins, who was confirmed by the Senate last week, things could change quickly. Several other jurisdictions, including Hong Kong, Canada and Europe, have already green-lighted staking for ETFs, but that doesn't put much pressure on the SEC, said one expert. 'The SEC will take their time and move as fast or as slow as they want,' said James Seyffart, ETF analyst at Bloomberg Intelligence. 'They don't care what other regulators are doing in my experience, they might learn from them but I don't think a regulator approving something is going to make the SEC jump through hoops and catch up. They'll go at their own pace.' The regulator now has until June 3rd to make a decision on in-kind redemptions on Bitwise's and WisdomTree's products and June 1st to decide on Grayscale's staking proposal. Sign in to access your portfolio
Yahoo
15-04-2025
- Business
- Yahoo
SEC Delays Decisions on In-Kind Redemptions, Ether ETF Staking
The Securities and Exchange Commission (SEC) is not yet ready to make a decision on two critical features that issuers of the spot crypto exchange-traded funds (ETFs) are hoping to add to their products. The regulator delayed a decision on whether it will allow in-kind redemptions for WisdomTree's Bitcoin Fund (BTCW) and VanEck's Bitcoin Fund (BITB) and Ethereum Fund (ETHW) on Monday. It also moved its deadline for a decision in regards to a proposal by Grayscale to allow staking its Ethereum Trust (ETHE) and Mini Ethereum Trust (ETH), which the asset manager's exchange, NYSE Arca had requested in February. Cboe, the exchange that is associated with five of the other issuers of an ether ETF, including Fidelity, Franklin Templeton, VanEck and Invesco/Galaxy, submitted its amended filing in March for the Fidelity Ethereum Fund (FETH) and the Franklin Ethereum ETF (EZET). The SEC has not previously allowed staking in spot ether ETFs. But with the appointment of new SEC Chair Paul Atkins, who was confirmed by the Senate last week, things could change quickly. Several other jurisdictions, including Hong Kong, Canada and Europe, have already green-lighted staking for ETFs, but that doesn't put much pressure on the SEC, said one expert. 'The SEC will take their time and move as fast or as slow as they want,' said James Seyffart, ETF analyst at Bloomberg Intelligence. 'They don't care what other regulators are doing in my experience, they might learn from them but I don't think a regulator approving something is going to make the SEC jump through hoops and catch up. They'll go at their own pace.' The regulator now has until June 3rd to make a decision on in-kind redemptions on Bitwise's and WisdomTree's products and June 1st to decide on Grayscale's staking proposal. Sign in to access your portfolio
Yahoo
12-03-2025
- Business
- Yahoo
Crypto's New Regulatory Era Means Fresh Opportunity for ETFs
(Bloomberg) -- Cboe BZX Exchange Inc. is asking regulators to open the door for staking on a number of Ether-based exchange-traded funds, joining another platform in the race for investors to potentially earn passive income on their crypto holdings. NYC Congestion Pricing Toll Gains Support Among City Residents Trump DEI Purge Hits Affordable Housing Groups Where New York City's Zoning Reform Will Add Housing Electric Construction Equipment Promises a Quiet Revolution Inside the 'Not Architecture' of High Line Designers Diller Scofidio + Renfro Cboe's filing this week with the US Securities and Exchange Commission is appealing for the approval of staking for Fidelity's Ethereum Fund. The company had previously submitted similar paperwork for the 21Shares Core Ethereum ETF. Another exchange, NYSE Arca Inc., has asked regulators for the staking option on Ethereum products from Grayscale Investments. Meanwhile, the crypto firm Bitwise is exploring the feasibility of filing for something similar on NYSE. 'ETPs should stake. We've seen in Europe that staking ETPs work and help increase investor returns and boost network security,' said Bitwise's Matt Hougan, whose firm bought an Ethereum staking service at the end of last year. 'It's something we're working on aggressively' in the US. The movement to allow staking — a process that involves investors pledging their crypto holdings to help validate transactions on the blockchain, which in turn helps them earn more tokens — is picking up steam as the Trump administration embraces the digital-assets industry and pledges continued support for it. Many crypto-industry participants are pointing to a number of ventures and proposals — including the appointment of the first-ever crypto czar, as well as the announcement of a Bitcoin strategic reserve, among other things — as signals that President Donald Trump is taking the sector seriously. Meanwhile, the interim chief of the US Securities and Exchange Commission said recently that he expects a slowdown in rule-making around crypto. This week's announcement from Cboe helped drive Ether 5% higher to around $1,950. Staked Ether currently earns roughly 3% in annual rewards, according to the site Staking Rewards. About a third of all Ether — which sports a market value of around $234 billion — has been staked, data from Coinbase show. There are at least nine Ether-based ETFs in the US, according to a tally from Bloomberg Intelligence. The funds, which started to trade last year, collectively command about $7 billion in assets. Staking could help drive new flows toward them, some analysts argue. Part of Ether's value proposition is offering a staking yield, said Etherealize founder and CEO Vivek Raman. 'But having that differentiating factor but not being able to actually include the staking yield into the ETFs was a potential dampener on the adoption of the ETFs,' he said. Staking 'can open up more money, it can open up a differentiated narrative around Ethereum.' Strah Savic, head of data and analytics at FRNT Financial, agrees that the funds stand to potentially benefit. 'Staking and passing the returns on to investors could make these ETFs more attractive and would give a broader range of investors an opportunity to participate in the crypto economy,' Savic said. 'The fact that we are seeing these attempts to allow staking for the ETFs also highlights just how accommodating this SEC is compared to the agency under Gary Gensler's leadership,' he said, referring to the prior SEC chief. But it may also portend good news for issuers who have filed for altcoin-based exchange-traded funds centered on tokens such as Solana's, he said, given that many of them use staking. 'The staking application for ETH is good news for all these prospective crypto ETFs because it signals where the SEC's mindset is in regards to digital assets,' Savic said. 'There is a sense that this SEC is accommodative and willing to let new and innovative products develop at the ETF-crypto nexus. So this is good news for all the crypto ETFs in consideration and additionally so for the ones that have a potential staking component.' Ether's price has dropped about 42% so far this year, compared with an 11% decline in crypto-market bellwether Bitcoin. --With assistance from Olga Kharif. How Natural Gas Became America's Most Important Export Disney's Parks Chief Sees Fortnite as Key to Its Future How America Got Hooked on H Mart Germany Is Suffering an Identity Crisis 80 Years in the Making The Mysterious Billionaire Behind the World's Most Popular Vapes ©2025 Bloomberg L.P. Sign in to access your portfolio
