Latest news with #iShares20
Yahoo
28-05-2025
- Business
- Yahoo
TLT Finds Buyers as 30-Year Yield Tests the Big 5% Level
The yield on the 30-year U.S. Treasury briefly surged to 5.15% last week, its highest level since late 2023. Though it has since retreated to around 4.95%, the long bond remains stubbornly close to the psychologically important 5% mark. This isn't the first time the 30-year has breached that level in 2025. In fact, it's happened multiple times for different reasons. Last week's jump came after the House passed President Donald Trump's sweeping tax cut package, stoking fears of ballooning budget deficits and a rising national debt. Back in April, it was concerns over Trump's trade war and speculation that foreign investors could pull back from U.S. government bonds that caused yields to jump. And in January, the bond market responded to expectations that Trump's economic agenda, centered around tax cuts and tariffs, would spur faster growth and inflation, while keeping the Fed sidelined following its short-lived rate-cutting stint in 2024. Whatever the reason, the Treasury market remains on edge. The 5.15% high from last week was just shy of the 5.18% peak seen in October 2023, when the Fed's aggressive rate hiking campaign drove long-term yields to cycle highs in response to the inflation surge of 2021-2022. While those acute inflation fears have faded somewhat, they haven't disappeared. And many investors are coming to terms with the idea that inflation may settle at a structurally higher level than in the pre-Covid era, driven by long-term trends like tighter labor markets, reduced immigration and deglobalization. These factors, combined with increased Treasury issuance tied to rising deficits, are putting upward pressure on interest rates, particularly at the long end of the curve. Despite these pressures, many investors are sticking with, and in some cases—doubling down on—long-term Treasurys. The iShares 20+ Year Treasury Bond ETF (TLT) saw more than $2 billion of inflows last week. The $48.8 billion fund has long been a go-to vehicle for investors seeking exposure to the far end of the Treasury curve. With an effective duration of 15.5 years, TLT is highly sensitive to rate moves, making it attractive for those expecting yields to eventually fall. It's also commonly used as a portfolio hedge. If the economy stumbles or a risk-off environment emerges, long-term Treasurys often rally. That was the classic dynamic, anyway. In recent years, though, that bond-stock inverse correlation has weakened. For example, during the April 2025 selloff—when the S&P 500 tumbled more than 11% between March 31 and April 8—TLT also fell by 2.6%, failing to provide its usual ballast. So far this year, the S&P 500 is down 0.7%, while TLT is off 1.4%. Even so, investors aren't giving up on long bonds. In a world of elevated interest rates and greater rate volatility, funds like TLT remain useful for both directional bets and risk management. For those seeking even more rate sensitivity, there's the PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF (ZROZ), which holds Treasury STRIPS and has a duration of 27.6 years. Meanwhile, the US Treasury 30 Year Bond ETF (UTHY) offers more targeted exposure. Unlike TLT, which holds a range of bonds with maturities between 20 and 30 years, UTHY focuses exclusively on the most recently issued 30-year Treasury bond. Its duration is around 15.5 years, similar to TLT. As long as markets remain jittery over debt and inflation, expect long bond ETFs to stay in the | © Copyright 2025 All rights reserved 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
Globe and Mail
27-04-2025
- Business
- Globe and Mail
Why are U.S. Bonds Weak?
I asked if the bond rally could continue in a March 11, 2025, Barchart article where I concluded: The five-year charts illustrate that the bonds and TLT ETF have been in sideways trading ranges since the October 2023 low. Bullish and bearish factors are pulling government debt in opposite directions. While the short-term trend is positive, it will take a move above 127-22 in the bonds and $101.64 in the TLT to reverse the bearish paths of least resistance that have gripped the long-term debt markets over the past five years. On March 10, 2025, the long bond futures for June delivery were trading at 117-25, with the TLT ETF at the $91.30 per share level. The bonds and TLT have moved lower over the past month. Long bond futures fall While the U.S. dollar index has declined below the 100 level, which tends to cause U.S. interest rates to fall, and the stock market has corrected, the U.S. 30-year Treasury bond futures have defied historical trading patterns, as they have declined instead of rallying in the current environment. Stocks and the dollar fell on April 7, pushing the long bond futures to the most recent 122-05 high on the nearby June futures contract. The daily chart highlights the recent bearish trend that has taken the June long bond futures to a 111-17 low on April 9. At the 115-26 level in late April, the bonds remain closer to the recent low than the April 7 high as interest rates remain elevated. TLT declines Since April 7, the highly liquid iShares 20+ Year Treasury Bond ETF product (TLT) has moved lower with the long bond futures. The daily chart illustrates TLT's 9.66% decline from $94.09 to $85 per share. At the $88.86 level, TLT remains below the midpoint of the most recent trading range and in a bearish trend. However, since the most recent lows, TLT and the long bond futures have made higher lows and higher highs. Tariffs are distorting markets Tariffs create trade barriers, which distort asset prices. Given the level of the tariffs, the Trump administration's trade initiative to level the playing field stunned markets. Time will tell if President Trump designed the tariffs to shock the global financial system as a negotiating tactic. However, the initial reaction across all asset classes was significant, with stocks, bonds, and currencies falling, while the inflationary impact sent some commodity prices higher. Gold's price soared to record highs at over $3,500 per ounce, in a warning sign for markets. Gold is the world's oldest means of exchange, flashing a warning sign in the global financial system. The U.S. is the world's leading consumer country, and U.S. tariffs are an economic weapon. Meanwhile, the 2020 global pandemic's legacy and the bifurcation of the world's nuclear powers since 2022 have been watershed events. Markets reflect the economic and geopolitical landscapes, which have been highly turbulent over the past five years. The U.S. tariffs are the latest destabilizing event causing market volatility. The U.S. government bond market is less of a haven for safety for three reasons Currency and government bond markets derive value from the full faith and credit of the countries issuing legal tender and government debt securities. Gold is a global asset, and its value transcends borders. The U.S. government bond market has remained under pressure with interest rates elevated for three reasons: The U.S. government's debt of over $36.7 trillion is growing, undermining faith and credit in the United States. The bifurcation of the world's nuclear powers has caused increased military spending and increased potential conflicts. Strained U.S. relations with traditional allies have altered trade and other post-WWII relationships. The United States depends on foreign buyers for debt securities. While still the economic leader, its position has declined over the past years, leading it to pay higher interest rates to service its high debt level. Levels to watch- The bonds and TLL remain within the trading range While long-term U.S. interest rates remain elevated, the short-term Fed Funds Rate has dropped 1% from its high. The Fed had forecast two more rate cuts in 2025 for a total of 50 basis points. While the latest inflation data has shown the economic condition moving towards the central bank's 2% target, Fed officials have said that the uncertainty and level of the administration's tariffs could cause inflation to rise, indicating that their enthusiasm for rate cuts has declined and the current 2025 pause will continue. Meanwhile, the longer-term rates have remained within the range since October 2022. The monthly continuous long bond futures chart shows it has traded in a 107-04 to 134-14 range since October 2022. At the 115-26 level in late April, the bonds are closer to the lows as rates remain elevated. Trade deals between the U.S. and its leading partners worldwide, including China, Japan, the EU, Canada, Mexico, and others, could lift bonds as they would reduce inflationary pressures and fears. Meanwhile, a long-term standoff could send the long bonds lower and interest rates higher. The 107-04 support and 134-14 resistance are the critical technical levels in late April 2025.
Yahoo
22-04-2025
- Business
- Yahoo
Crypto Daybook Americas: Bitcoin Reasserts Itself as Stocks, Bonds Fall, Gold Hits Record High
By James Van Straten (All times ET unless indicated otherwise) "There are decades where nothing happens; and there are weeks where decades happen." Vladimir Ilyich Lenin Few quotes better capture the current turbulence in global markets. For decades, the classic portfolio of 60% equities and 40% bonds was considered the cornerstone of balanced investing. This allocation typically offered protection in downturns through bonds, while equities drove returns in times of economic growth. We saw this play out during crises like 2008 and 2020, when iShares 20+ Year Treasury Bond ETF (TLT) surged amid global uncertainty. Today, that dynamic has been upended. With persistent geopolitical tension ignited by President Donald Trump's tariffs, stubborn inflation and slowing growth, Treasury yields have climbed and bond prices fallen. TLT is now down some 50% from its 2020 highs. The equity side of the portfolio isn't faring much better. U.S. stocks are underperforming, caught in what some are calling a broader "Sell America" trade. Even the dollar, which typically strengthens in risk-off environments, is weakening as capital flows shift toward the yen and euro. In this new regime, alternative assets are taking center stage. Gold has surged to $3,500 an ounce for the first time, cementing its role as a haven. To underscore its meteoric rise: the precious metal has added about $6 trillion in market cap this year, triple the market cap of bitcoin (BTC) at its all-time high. Gold ETF inflows, measured over a 90-day rolling period, are approaching 9 million ounces, the biggest surge since 2022 and among the largest in the past decade. Bitcoin, while lagging behind gold, is also reasserting itself. It has reached new highs in dominance within the crypto market and is beginning to diverge from U.S. tech stocks. It's increasingly behaving like an uncorrelated asset, valuable in a diversified portfolio. This Friday, $6.7 billion in bitcoin options are set to expire, including $330 million in call options at the $100,000 strike price, setting the stage for a potentially volatile final week of April. Stay alert! Crypto: April 22: The Lyora upgrade goes live on the Injective (INJ) mainnet. April 25, 1 p.m.: U.S. Securities and Exchange Commission (SEC) Crypto Task Force Roundtable on "Key Considerations for Crypto Custody". April 28: Enjin Relaychain increases active validator slots to 25 from 15, to enhance decentralization. April 29, 1:05 a.m.: BNB Chain (BNB) — BSC mainnet hardfork. April 30, 9:30 a.m.: ProShares expects its XRP ETF, offering exposure through futures and swap agreements, to begin trading on NYSE Arca. April 30, 10:03 a.m.: Gnosis Chain (GNO), an Ethereum sister chain, will activate the Pectra hard fork on its mainnet at slot 21,405,696, epoch 1,337,856. Macro Day 2 of 6: World Bank (WB) and the International Monetary Fund (IMF) spring meetings in Washington. April 22, 8:30 p.m.: Statistics Canada releases March producer price inflation data. PPI MoM Est. 0.3% vs. Prev. 0.4% PPI YoY Prev. 4.9% April 22, 6 p.m.: Fed Governor Adriana D. Kugler will deliver a speech titled "Transmission of Monetary Policy." April 23, 8 a.m.: Mexico's National Institute of Statistics and Geography releases retail sales data. Retail Sales MoM Prev. 0.6% Retail Sales YoY Prev. 2.7% April 23, 9:45 a.m.: S&P Global releases (flash) U.S. April purchasing managers' index (PMI) data. Composite PMI Prev. 53.5 Manufacturing PMI Est. 49.4 vs. Prev. 50.2 Services PMI Est. 52.8 vs. Prev. 54.4 Earnings (Estimates based on FactSet data) April 22: Tesla (TSLA), post-market April 30: Robinhood Markets (HOOD), post-market May 1: Block (XYZ), post-market Governance votes & calls Aave DAO is discussing partnering with to create a custom Aave market on EVM layer 2 to 'facilitate on-chain credit for everyday payments through the Cash credit card program.' April 23, 9 p.m.: Manta Network to host a townhall meeting with its founders. April 24, 8 a.m.: Alchemy Pay to host an Ask Me Anything (AMA) session on its 2025 roadmap. April 30, 12 p.m.: Helium to host a community call meeting. Unlocks April 30: Optimism (OP) to unlock 1.89% of its circulating supply worth $21.83 million. May 1: Sui (SUI) to unlock 2.28% of its circulating supply worth $170.93 million. May 1: ZetaChain (ZETA) to unlock 5.67% of its circulating supply worth $10.46 million. May 2: Ethena (ENA) to unlock 0.73% of its circulating supply worth $11.92 million. May 7: Kaspa (KAS) to unlock 0.56% of its circulating supply worth $13 million. May 9: Movement (MOVA) to unlock 2.04% of its circulating supply worth $11.23 million. Token Launches April 22: Hyperlane to airdrop its HYPER tokens. April 22: BNB to be listed on Kraken. April 23: Zora to airdrop its ZORA tokens. April 24: Initia (INIT) to be listed on Binance, CoinW, WEEX, KuCoin, MEXC, and others. CoinDesk's Consensus is taking place in Toronto on May 14-16. Use code DAYBOOK and save 15% on passes. Day 1 of 3: Money20/20 Asia (Bangkok) April 23: Crypto Horizons 2025 (Dubai) April 23-24: Blockchain Forum 2025 (Moscow) April 24: Bitwise's Investor Day for Bitcoin Standard Corporations (New York) April 26: Crypto Vision Conference 2025 (Manilla) April 26-27: Harvard Blockchain in Action Conference (Cambridge, Mass.) April 27: N Crypto Conference 2025 (Kyiv) April 27-30: Web Summit Rio 2025 April 28-29: Blockchain Disrupt 2025 (Dubai) April 28-29: Staking Summit Dubai April 29: El Salvador Digital Assets Summit 2025 (San Salvador) April 29: IFGS 2025 (London) By Shaurya Malwa Pope Francis' death on Easter Monday triggered significant activity in crypto markets and prediction platforms as traders aimed to capitalize on the news. LUCE, a Solana-based memecoin tied to the Vatican's Holy Year 2025 mascot, surged 45% in value, reaching $0.013, according to CoinGecko data. Daily trading volume in the token skyrocketed to $60.27 million from $5 million the previous day, despite the price being down 95% from its November peak of 30 cents. Although unaffiliated with the Vatican, LUCE has attracted around 44,800 holders. Meanwhile, a Polymarket bet on who will be the next pope has attracted over $3.5 million in volumes since going live on Dec. 31, with over 18 candidates in the mix. As of Tuesday morning, Pietro Parolin leads odds at 37%, followed by Luis Antonio Tagle at 23% and Matteo Zuppi at 11%. HBAR, XLM and TRX have seen the most growth in perpetual futures open interest among major tokens in the past 24 hours. However, only TRX has seen a positive cumulative volume delta, implying an influx of new money predominantly on the bullish side. BTC's open interest in has increased to 695K BTC, the most since March 25. ETH's open interest held shy of the recent record above 11.9 million ETH. Perpetual funding rates for most major tokens remain marginally positive in a sign of cautiously bullish sentiment. On Deribit, BTC's short and near-dated calls are now trading at par or a slight premium to puts, another sign of renewed bullishness. ETH puts, however, continue to trade at a premium to calls. Block options flows have been muted on Paradigm, with calendar spreads and April put spreads lifted in BTC and ETH. BTC is up 1.45% from 4 p.m. ET Monday at $88,539.04 (24hrs: +1.16%) ETH is up 3.43% at $1,628.60 (24hrs: -0.84%) CoinDesk 20 is up 1.49% at 2,544.64 (24hrs: -0.3%) Ether CESR Composite Staking Rate is up 3 bps at 2.98% BTC funding rate is at -0.0058% (-2.1353% annualized) on Binance DXY is up 0.1% at 98.38 Gold is up 4.28% at $3,456.97/oz Silver is up 0.5% at $32.57/oz Nikkei 225 closed -0.17% at 34,220.60 Hang Seng closed +0.78% at 21,562.32 FTSE is up 0.49% at 8,315.81 Euro Stoxx 50 is down 0.28% at 4,922.48 DJIA closed on Monday -2.48% at 38,170.41 S&P 500 closed -2.36% at 5,158.20 Nasdaq closed -2.55% at 15,870.90 S&P/TSX Composite Index closed -0.76% at 24,008.86 S&P 40 Latin America closed unchanged at 2,384.47 U.S. 10-year Treasury rate is unchanged at 4.42% E-mini S&P 500 futures are up 0.98% at 5,235.75 E-mini Nasdaq-100 futures are up 1.02% at 18,105.00 E-mini Dow Jones Industrial Average Index futures are up 0.87% at 38,660.00 BTC Dominance: 64.39% (-0.09%) Ethereum to bitcoin ratio: 0.01839 (1.88%) Hashrate (seven-day moving average): 840 EH/s Hashprice (spot): $45.0 PH/s Total Fees: 6.56BTC / $572,645 CME Futures Open Interest: 139,765 BTC BTC priced in gold: 25.5 oz BTC vs gold market cap: 7.22% If you feel gold's rally is overstretched or overdone, think again. The ratio between gold's spot price and its 200-day simple moving average, currently 1.3, is well below highs seen in 2011-2012 when the yellow metal rose to its then-record price of $2,000. The ratio went as high as 5.80 in the 1980. Bitcoin tends to follow gold with a lag of couple of months. Strategy (MSTR): closed on Monday at $317.76 +0.18%), up 2.02% at $324.19 in pre-market Coinbase Global (COIN): closed at $175 (-0.02%), up 1% at $176.75 Galaxy Digital Holdings (GLXY): closed at C$15.38 (+0.13%) MARA Holdings (MARA): closed at $12.29 (-2.92%), up 2.36% at $12.59 Riot Platforms (RIOT): closed at $6.29 (-2.63%), up 2.07% at $6.42 Core Scientific (CORZ): closed at $6.39 (-3.62%) CleanSpark (CLSK): closed at $7.47 (-0.53%), up 2.68% at $7.67 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $11.74 (-2.49%) Semler Scientific (SMLR): closed at $29.83 (-8.17%) Exodus Movement (EXOD): closed at $36.59 (+0.03%), unchanged in pre-market Spot BTC ETFs: Daily net flow: $381.3 million Cumulative net flows: $35.86 billion Total BTC holdings ~ 1.11 million Spot ETH ETFs Daily net flow: -$25.4 million Cumulative net flows: $2.24 billion Total ETH holdings ~ 3.30 million Source: Farside Investors The chart shows the price of eggs in the U.S. has increased by over 200% since 2024, outperforming BTC's 100% surge. Gold and the S&P 500 have gained 46% and 21%, respectively, over the same period. In other words, asset price growth has failed to compensate holders for the inflation on Main Street. Bitcoin, Euro Options Signal Bullishness Against Dollar Amid Equity and Bond Market Downturns (CoinDesk): Preference for BTC and euro call options over dollar exposure suggests investors are rotating out of U.S. assets and into bitcoin, the euro and gold. Dow Headed for Worst April Since 1932 as Investors Send 'No Confidence' Signal (The Wall Street Journal): Scott Ladner, chief investment officer at Horizon Investments, said the Trump administration's policies have made the U.S. economy increasingly unstable and difficult to gauge, deterring investment. Bitcoin Runs Into Resistance Cluster Above $88K. What Next? (CoinDesk): Behavioral aspects of trading could influence whether bitcoin rallies further or faces a new downturn from the resistance zone. Bearish Dollar Bets Move Toward Levels That Raise Risk of Recoil (Bloomberg): Despite widespread bets against the dollar, steady demand for Treasuries and technical signals suggest a rebound is likely, though gains may be limited or short-lived if negative news continues. Japanese Investors Sold $20B of Foreign Debt as Trump Tariffs Shook Markets (Financial Times): Much of Japan's selling likely involves U.S. Treasuries and mortgage-backed securities guaranteed by the U.S. government, said Tomoaki Shishido, senior rates strategist at Nomura. Bitcoin, Stablecoins Command Over 70% of Crypto Market as BTC Pushes Higher (CoinDesk): Bitcoin dominance rose to 64.6%, the highest since January 2021, as ether slumped and the ETH-to-BTC ratio fell to a five-year low of 0.01765.
Yahoo
02-04-2025
- Business
- Yahoo
Peter Schiff Sounds The Alarm: 'Same Mistake Again' Could Trigger Economic Firestorm
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Stock and ETF investors, take note. Peter Schiff sees trouble ahead and he's not mincing words. The renowned investor warns that the government and financial media are 'making the same mistake again' as they did before the 2008 Global Financial Crisis, Schiff wrote on X. The culprit this time? A toxic mix of tariffs, rising interest rates and misguided Federal Reserve policies that could unleash an economic firestorm. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share! The $1.3 billion startup investment boom: How this company's explosive growth is opening doors for everyday investors with a new $500 minimum Schiff argues that tariffs won't just impact trade – they'll send shockwaves through the economy. 'Tariffs mean fewer goods will come into the country, and fewer dollars will go out. More money chasing fewer goods means higher domestic prices. This is an economic certainty,' he said. For investors, that translates to higher inflation, a weaker consumer and pressure on corporate margins. But it doesn't stop there. 'Lower trade deficits will result in fewer dollars being recycled into U.S. bonds, sending long-term interest rates higher.' With higher rates, borrowing costs rise for businesses and consumers alike, slowing growth and putting pressure on stocks—especially high-flying tech names. Schiff sees the Federal Reserve making the wrong move when the economy starts showing signs of strain. 'The Fed will respond to this 'unexpected' economic weakness with rate cuts, ignoring the surge in consumer prices as a transitory effect of tariffs.' Translation? Inflation won't just persist – it could spiral. And if the Fed resorts to quantitative easing (QE) again, Schiff warns, 'throwing gasoline on an already burning inflation fire' could create a crisis far worse than 1970s-style Schiff's prediction plays out, stock investors should brace for turbulence. High-growth and rate-sensitive sectors like technology, as tracked by the Invesco QQQ Trust (NASDAQ:QQQ) and the Technology Select Sector SPDR Fund (NYSE:XLK), could face pressure. On the other hand, inflation-resistant assets – such as: Commodities, as tracked by the Invesco DB Commodity Index Tracking Fund (NYSE:DBC); Gold, as tracked by the SPDR Gold Trust (NYSE:GLD), and select energy stocks – may become safe havens. Bond investors and those invested in popular Treasury tracking ETFs such as iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT), the Vanguard Total Bond Market ETF (NASDAQ:BND) and the iShares Core U.S. Aggregate Bond ETF (NYSE:AGG) beware: rising long-term rates could send Treasury prices tumbling. Meanwhile, a 'weaker dollar and larger budget deficits' could mean international ETFs and hard assets outperform U.S. equities. Schiff isn't predicting a simple market correction – he's warning of something much worse. 'This will not be 1970s-style stagflation. It will be something much worse.' If history is about to repeat itself, as he suggests, investors who ignore the warning signs could be caught in the fire. The question is: Are you ready? Read Next: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.26/share with a $1000 minimum. Photo: Shutterstock This article Peter Schiff Sounds The Alarm: 'Same Mistake Again' Could Trigger Economic Firestorm originally appeared on
Yahoo
12-03-2025
- Business
- Yahoo
Crypto ETFs Plunge as Growth Scare Hits Market
Bitcoin and ethereum exchange-traded funds swooned on Monday as trade wars and recession fears added fresh uncertainty to markets, pushing investors away from high-risk trades and toward safer investments like bond and dividend funds. The world's biggest crypto ETF, the $50.9 billion iShares Bitcoin Trust (IBIT), fell 7.8%, continuing a slide that began the day after President Donald Trump was sworn in on Jan. 20. While inflows are positive for the year, investors have pulled a net $1.4 billion from the fund since Feb. 21. Other spot crypto funds dropped as the price of bitcoin briefly fell beneath $79,500, according to CoinMarketCap data. Crypto and equities have dipped in response to President Trump's efforts to reshape the global economy with nationalist policies like tariffs, and his declining this weekend to rule out a recession in the near future further rattled stock markets. Meanwhile, bond funds like the iShares 20+ Year Treasury Bond ETF (TLT) jumped along with dividend ETFs like the Schwab U.S. Dividend Equity ETF (SCHD). 'Cryptocurrencies are highly volatile, and investors may choose to scale back exposure when recession fears arise,' Morningstar's director of passive strategies research Bryan Armour said in an email. 'Bitcoin tends to rise along risk appetite and fall when markets go risk-off.' Other spot crypto ETFs slid: The $17.8 billion Fidelity Wise Origin Bitcoin Fund (FBTC) lost 8.3%, and the leveraged ProShares Ultra Bitcoin ETF (BITU), with $957.3 million in assets, plummeted 18%. Funds trading in spot ethereum also continued their decline, with the $1.1 billion Grayscale Ethereum Mini Trust (ETH) losing 6.6%. That fund has lost 42% over the past three months. Those declines come as issuers file dozens of applications for exchange-traded funds that hold smaller cryptocurrencies, from XRP to Hedera to Solana. Those applications flooded the Securities and Exchange Commission after Trump signaled a more open approach to crypto and Gary Gensler, who advocated a cautionary approach to crypto ETFs, stepped down. Spot bitcoin ETF investors haven't responded enthusiastically to the president's stance on crypto. Since Jan. 21, the day after Trump was sworn in, IBIT has dropped 24% amid Trump's promises to be the 'crypto president.'Permalink | © Copyright 2025 All rights reserved Sign in to access your portfolio
