Latest news with #NewYorkVariant
%3Amax_bytes(150000)%3Astrip_icc()%2FGettyImages-1441467099-6fea6e81a2454f10ab5c34c9d0fe5bd9.jpg&w=3840&q=100)
Arabian Post
3 days ago
- Business
- Arabian Post
BlackRock's Bitcoin ETF Achieves Historic Growth Milestone
BlackRock's iShares Bitcoin Trust ETF has surged into the ranks of the world's 25 largest exchange-traded funds , reaching $72.4 billion in assets under management just 1.4 years after its launch. This rapid ascent positions IBIT as the youngest ETF among the top 25 by a significant margin, with the next youngest fund being over 12 years old. Launched on January 5, 2024, IBIT has demonstrated unprecedented growth in the ETF landscape. Its swift accumulation of assets reflects a strong institutional appetite for regulated exposure to Bitcoin, coupled with investor confidence in BlackRock's management capabilities. The fund's impressive performance is further highlighted by its consistent inflows. IBIT recorded net inflows on 29 of the past 30 trading days, including a 32-day streak without any outflows. Notably, on April 28, the ETF experienced its highest single-day inflow of the year at $970.93 million, even as Bitcoin's price saw only a modest increase of 1.36%, closing at $95,000. This trend underscores the strong institutional demand for Bitcoin exposure through regulated investment vehicles. ADVERTISEMENT IBIT's rapid growth has also positioned it as the second-largest holder of Bitcoin globally, with holdings amounting to approximately 660,842 BTC. This places it just behind the pseudonymous creator of Bitcoin, Satoshi Nakamoto, in terms of holdings. The ETF's success is attributed to its low fees and the trust investors place in BlackRock's institutional framework. The fund's benchmark, the CME CF Bitcoin Reference Rate – New York Variant, provides a reliable and regulated pricing mechanism, further enhancing investor confidence. IBIT trades on the NASDAQ exchange, offering investors a familiar and accessible platform for Bitcoin exposure. BlackRock's foray into the cryptocurrency space with IBIT marks a significant shift in the financial industry's approach to digital assets. The ETF's success may pave the way for broader acceptance and integration of cryptocurrencies into mainstream investment portfolios.
Yahoo
28-05-2025
- Business
- Yahoo
New XRP ETF is under official SEC review
The SEC has formally taken action on the proposal filed by the Cboe BZX Exchange to list and trade shares of the WisdomTree XRP Fund. The release indicates that the SEC has formally published SEC release [34-103124], and the application has entered a new phase of consideration to determine if the proposed spot XRP exchange-traded fund (ETF) meets the criteria outlined in Section 6 of the Securities Exchange Act of 1934. The stated purpose of the WisdomTree XRP Fund is to provide investment exposure to XRP by tracking the value of XRP through the performance of its spot price based on the CME CF Ripple-Dollar Reference Rate (New York Variant). The assets of the fund would consist of XRP only, cash, and cash equivalents. If the funds are allowed to be marketed, it could provide investors with exposure to XRP through brokerage accounts, rather than managing a digital wallet and private keys. The SEC has not yet granted or rejected the application, but has moved the deadline into the evaluation phase under Section 19(b)(2)(B) of the Securities Exchange Act. The agency will take time to consider whether the Exchange has proposed adequate and thoughtful measures to ensure there are sufficient safeguards against market manipulation and rules to protect investors and the public interest. The Commission has made the application available for public comments, asking if they had any comments or opinions on whether the fund's design would prevent or limit any potential fraudulent activities or create any new regulatory aspects. Interested parties are invited to submit their written comments electronically. This is a critical juncture for XRP, since it has had litigation and regulatory hurdles. If approved, the WisdomTree XRP Fund will be one of the first spot ETFs connected to the digital asset. New XRP ETF is under official SEC review first appeared on TheStreet on May 27, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
