US and Hong Kong Spot Crypto ETFs Show Mixed Results After SEC Approval

2024-5-25 12:13

The recent development of spot Ethereum (ETH) exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) has significantly influenced the crypto investment environment.

Following the SEC’s preliminary approval for spot Ethereum ETFs, Bitcoin (BTC) counterparts continue to record positive inflows.

US Spot Crypto ETFs Surge Amid Renewed Optimism

SoSo Value data reveals that as of May 24, US spot Bitcoin ETFs had a total net inflow of $251.94 million. This marks ten consecutive days of inflows. On the same day, BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) received inflows of $182 million and $44 million, respectively.

Meanwhile, Grayscale Bitcoin Trust ETF (GBTC) received no flows on the same day. This is noteworthy considering the negative flow streak for US spot Bitcoin ETFs from late April until early May.

Read more: Crypto ETN vs. Crypto ETF: What Is the Difference?

US Spot Bitcoin ETFs Daily Flows. Source: SoSo Value

Indeed, the spot Ethereum ETFs have infused the crypto market with renewed optimism. BeInCrypto reported that Ethereum and some tokens in its ecosystem have shown impressive performance since Monday.

However, it is important to note that the spot Ethereum ETFs have yet to be officially launched, and SEC approval for the S-1 filings is awaiting. James Seyffart, an ETF analyst at Bloomberg Intelligence, expects that the spot Ethereum ETFs will ” take a couple of weeks but could take longer” to trade in the market.

“Typically, this process takes months. Like up to 5 months in some examples, but Eric Balchunas and I think this will be at least somewhat accelerated. Bitcoin ETFs were at least 90 days. Will know more soon,” he explained.

Nonetheless, experts remain optimistic. Another ETF analyst, Eric Balchunas, predicts that spot Ethereum ETFs could acquire “10% to 15% of the assets of the spot Bitcoin ETFs.”

Despite renewed interest in the US market, spot crypto ETFs in Hong Kong saw a relatively muted performance. Data shows that from May 20 to May 23, Hong Kong’s spot Bitcoin ETFs recorded no flows for two consecutive days. Meanwhile, their Ethereum counterparts only recorded an inflow of 62.80 ETH on May 22.

Read more: Why do Hong Kong Spot Crypto ETFs Matter?

Hong Kong Spot Bitcoin ETFs Daily Flows. Source: SoSo Value

However, a recent report mentioned that Hong Kong’s regulator is considering including staking for spot Ethereum ETFs. This is particularly interesting since potential issuers in the US have removed staking from their filings. By including staking rewards, Hong Kong’s spot Ethereum ETFs could provide a competitive edge, offering extra yield for investors.

The post US and Hong Kong Spot Crypto ETFs Show Mixed Results After SEC Approval appeared first on BeInCrypto.

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etfs sec crypto approval spot hong kong

Источник: beincrypto.com

etfs sec → Результатов: 126


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Era of Bitcoin ETFs Rejection is now as SEC Rejects 9 More ETFs Applications

Yesterday, a publication was made in one of my articles that was published yesterday if SEC is out to undermine cryptocurrency through it’s continuous rejection of bitcoin exchange traded funds submissions made by some organizations or delay in decisions in some? It might be that this was read by them as they were able to […] The post Era of Bitcoin ETFs Rejection is now as SEC Rejects 9 More ETFs Applications appeared first on ZyCrypto.

2018-8-24 11:03


Фото:

Bitcoin Expert & Advocate: Bitcoin ETFs Are a “Terrible Idea” And Will Be “Damaging to the Ecosystem”

The price of Bitcoin rallied when users believed that CBOE–VanEck-SolidX would get an exchange-traded fund (ETF) approval from the Securities and Exchange Commission (SEC) earlier this month. As anticipation was high and investors were hopeful, there was no reason to believe that it wouldn’t bring hoards of cash to the market via institutional investors.

2018-8-18 16:09


Фото:

Credible CBOE Insider: VanEck/SolidX Bitcoin ETF has 99% Chance For Approval After SEC’s Delayed Decision

Legit CBOE Insider Continues to Be Positive After Bitcoin ETF Delay, Source Suggests There’s a “99%” Chance of VanEck SolidX Bitcoin ETF Approval Earlier this week, the United States Securities and Exchange Commission (SEC) sent cryptocurrency markets plummeting when it delayed the decision on one of the most promising ETFs in the crypto space. Despite […]

2018-8-9 19:02


Фото:

The SEC Is Delaying Another Bitcoin ETF Decision

The United States Securities and Exchange Commission (SEC) is in no hurry to review the pile of Bitcoin ETF filings it has been accumulating over the past year. Not three weeks since postponing its decision on five other Bitcoin ETFs, the SEC has indicated in a public statement that it will be delaying its decision to approve or reject SolidX Bitcoin Shares until late September.

2018-8-8 17:15


Bitcoin ETFs: Taking a Closer Look at VanEck’s Letter to the SEC

The push for SEC-approved Bitcoin ETF listings has been receiving heavy amounts of news coverage over the last week. As several companies seek to be the first to bring crypto to Wall Street, a letter has been published by New York-based investment giant VanEck refuting many of the concerns laid out by the Commission’s recent… The post Bitcoin ETFs: Taking a Closer Look at VanEck’s Letter to the SEC appeared first on UNHASHED.

2018-7-31 01:59


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