Sygnum Bank’s Post

The #crypto industry is on edge awaiting the #SEC's verdict on #Ethereum ETFs, with some issuers already bracing for potential denials. The lack of engagement in recent discussions has raised concerns, hinting at a possible setback for Ethereum and the broader crypto adoption. Read full story: https://lnkd.in/gRH_4QrR

According to WatcherGuru, Matthew Sigel, VanEck’s head of digital asset research, stated that “if SEC Chairman Gary Gensler is fired, the likelihood of a Solana spot ETF approval will increase significantly.” He added that Gensler has created a challenging environment for crypto markets, with the lack of a regulated futures market being cited as a risk for Solana spot ETF approval, which Sigel considers a psychological maneuver by Gensler 📉📊🔍 #Bitcoinworld

As we could now well be on the eve of the approval for the first US-based spot #Bitcoin ETFs, let's remind ourselves of what some of the numbers mean in terms of institutional capital deployment. 1️⃣ We will have several of the world's largest asset managers with a combined AUM (assets under management) in excess of $17 trillion stepping into what is presently a sub $1 trillion dollar asset class with a fixed supply via regulated investment products. So just taking a 1% allocation as a baseline would add immediately add 20% to the current market cap, and with 3-5% allocations it isn't a stretch to forsee potentially explosive demand (and corresponding impact on price) at a time shortly before the supply is set to be cut in half during halving in April. This is especially so when looking at the broader market for US managed wealth which is approx $30 trillion dollars. 2️⃣ These numbers also show the huge difference in AUM between the different issuers, with Blackrock's $9.4 trillion in AUM being over twice the size of the next largest provider, Fidelity. With Blackrock's dominant position in terms of AUM and huge distribution power through its vast network of brokers, other #ETF issuers will use whatever means at their disposal to position themselves as the 'Bitcoin people' in the battle for AUM. This point explains why the #BitcoinETF marketing campaigns have kicked off in advance of actual on-the-ground regulatory approval (see links below) as the competition between all of these issuers staking their claim for AUM heats up. #BitcoinETFs #digitalassets #crypto View VanEck's Bitcoin ad: https://lnkd.in/dgCjDPUb View Bitwise Asset Management's Bitcoin ETF ad: https://lnkd.in/dxk6UWzc Chart via: TheBTCTherapist

Have we entered another #Bitcoin bull run? 🐂 📈 According to CoinShares' Head of Research James Butterfill, Bitcoin ETPs saw inflows last week of $312 million. The SEC also met last week with representatives from BlackRock, Nasdaq, and Grayscale Investments according to insights from ETF expert James Seyffart, CFA, CAIA. Although, Reuters journalist Suzanne McGee reports that some crypto ETF pioneers like ProShares, Amplify ETFs, and Roundhill Investments are not focusing on the Bitcoin ETF race. Amplify CSO David Mazza says that spot Bitcoin ETFs will require significant upfront investment. Proshares CEO Michael Sapir, whose firm has a winning track record for crypto products, says he's not convinced the SEC will soon approve the ETFs. VettaFi's Roxanna Islam, CFA, CAIA points out that it's expensive to file novel products in the US. Some traditional firms like Fidelity Digital Assets, Franklin Templeton, and VanEck could use their existing customer base to their advantage. Coinbase's David Duong, CFA adds that Bitcoin ETFs will mark a new era for the asset class. Amplify CEO Christian Magoon says that the approval of spot Bitcoin ETFs will be pivotal, but his firm also offers ETFs with bitcoin miners as well as companies like Coinbase and CME Group. ARK Investment Management LLC COO Tom Staudt offers the insightful point that the future of bitcoin is more than just Spot ETFs. Read in Bloomberg by David Pan 👉 https://lnkd.in/dGb4xEvp #BitcoinMining #renewableenergy #BTC #ESG #sustainability #digitalasset #crypto #BitcoinETF #ETF #cop28 #cop28uae

Let's take a dive around BTC ETF Approval from SEC (Securities Exchange Commission). Blackrock expects its Ishares Bitcoin Trust ETF to be approved by the SEC this Wednesday, Jan 10. This aligns with market predictions of multiple spot bitcoin ETF approvals next week. 🔵 11 applicants, including Blackrock, Grayscale, and Ark 21Shares, are awaiting the SEC's decision. 🔵Blackrock has prepared significant capital, with $2 billion allocated for the Ishares Bitcoin Trust launch. Blackrock's choice of Jane Street and JPMorgan as authorized participants indicates institutional interest. 🔵Opposition from groups like Better Markets remains, but is seen as unlikely to sway the SEC. 🔵Jan 10 is the deadline for the SEC to decide on Ark 21Shares' application, potentially prompting a combined announcement. 🔵Other approved ETFs still need to finalize formalities before trading begins. 👁️🗨️ This news signifies a crucial moment for the crypto market, potentially granting mainstream access through regulated ETFs. Blackrock's involvement and sizeable capital commitment further highlight the growing institutional acceptance of bitcoin. While some opposition persists, approval is widely expected and could trigger a positive market response. #BTCETF #cryptonews

⚡ UPDATE: Ethereum ETFs 📆 The U.S. Securities and Exchange Commission (SEC) is nearing the approval of exchange-traded funds (ETFs) tied to the spot price of Ethereum, with a potential green light as early as July 4, according to Reuters. 🔸 Eight ETF issuers, including prominent firms like BlackRock, VanEck, Franklin Templeton, and Grayscale Investments, are seeking SEC approval for these funds. The move follows their successful introduction of spot Bitcoin ETFs in January, a milestone achieved after a decade-long struggle with regulators. 🔸 SEC Chair Gary Gensler indicated that the launch process for Ethereum ETFs is proceeding smoothly, though he hinted that actual listings might take longer, potentially extending to September 2024. 🔥 Ethereum spot ETFs will accumulate over $15 billion in net inflows within their first 18 months of hitting the U.S. market, predicted crypto asset manager Bitwise on Wednesday. Bitwise CIO Matt Hougan based his estimate on Bitcoin’s ETF figures and compared Ethereum to the overall size of Bitcoin’s market. #EthereumETF #SEC #BlackRock #Grayscale #ETFs #update 

😁 Exciting News: Nasdaq in an innovative move, proposes an #etf combining spot Ether holdings & futures contracts. The application submitted to the US SEC is bound to reshape the #crypto investment landscape while complying with regulatory guidelines. 🇧🇷 Brazilian asset management firm Hashdex plans to offer this ETF, dubbed 'The Hashdex Nasdaq Ethereum ETF'. Managed by Toroso Investments LLC, the fund aims to mirror daily Nasdaq Ether Reference Price fluctuations via diversified assets. 💡 Unique in approach, Hashdex plans to source spot Ether from CME-market physical exchanges, unlike peers relying on #coinbase surveillance sharing agreement. This decision potentially influences the SEC's verdict on other asset managers' applications. 👀 To keep up with #eth price, Nasdaq confirms using CME, a “regulated market of significant size.” The fund sponsors will hold physical Ether, procured from the CME Market's EFP transactions, avoiding unregulated spot exchanges. Reflecting on the past, this method aligns. 🧠 With Hashdex's prior application merging a spot ETF with its #bitcoin futures ETF. Amidst a surge of Crypto ETF applications flooding SEC, including BlackRock & Fidelity's proposals, all eyes are on SEC's decisions. Has a new era of Crypto investment dawned? Comment below👇

18/9/2023 (Mon) - #Bitcoin saw support at the key horizontal level at $25,000 and rebounded around 6.5% from its low of last Monday. The rally was spurred by news that another major asset manager, Franklin Templeton, has applied for a spot Bitcoin #ETF to be listed in the U.S. stock exchange. The safety and trustworthiness of centralized crypto exchanges #CEX continue to be a concern. #CoinEx said on Tuesday that several of its hot wallets used to store crypto assets has been hacked. It is later estimated that the magnitude of the exploit was around $54 million, with North Korean attackers likely linked to the incident. Nevertheless, CoinEx maintained that the drained funds only constituted a small percentage of its total assets and promised to fully reimburse affected users. In Hong Kong #HK, the Securities and Futures Commission #SFC overseeing crypto trading activities issued a warning against the local exchange #JPEX that it has been operating without a license and offering “suspicious features” on its platform. Since then, the platform has modified its withdrawal fee to as high as 99% of the intended withdrawal amount, effectively freezing outflows. Economic numbers last week came mostly in line with expectations. The #CPI rose 0.6% in August, recording the biggest monthly gain of this year. Core CPI increased 0.3% MoM and 4.3% YoY against estimates of 0.2% and 4.3% respectively. These figures cemented the market’s expectations for the U.S. central bank to keep interest rates unchanged in September. The #FOMC meeting will be held on Wednesday, with interest rate markets reflecting a 99% probability of maintaining rates at the 5.25-5.50% level. Analysis points out that investors will be shifting their focus to gauge the course of #Fed policy in 2024 and beyond. More #Crypto News: - Franklin Templeton Joins Race to Offer US Spot Bitcoin ETF https://lnkd.in/gki4hjBc - Pantera Eyes Mid-Stage Crypto Firms After Valuations Sink https://lnkd.in/gy4pNqRY - North Korean Attackers Linked to $54M CoinEx Hack, Blockchain Data Suggests https://lnkd.in/gFpETzpt - Crypto Platform JPEX Shuts Down Trading Amid Hong Kong Probe https://lnkd.in/g_xptv9v

🌟 Ethereum ETFs: The Inevitable Game-Changer 🌟 Big week for Ethereum! On Thursday, the SEC will decide on the Ethereum spot ETF. Polymarket gives it only an 11% chance of approval, but traditional finance is showing signs of optimism. And last night, Bloomberg ETF analysts reported that the chances of approval for the Ethereum spot ETF on May 23 have surged from 25% to 75%! 🚀 What Happens Next? ❌ Denial (Expected): Minimal impact, small dip. 🎉 Surprise Approval: Major market movement, potential fireworks. 🔥 Why Approval Might Happen: ☑️ Regulatory Precedent: SEC approved ETH futures ETFs in October 2023. ☑️ Strategic Moves: ARK and 21Shares adjusted filings to align with regulatory expectations. ☑️ Grayscale’s Withdrawal: Suggests imminent spot ETH ETF approval. The Bigger Picture SEC Commissioner Hester Peirce hints at a favorable approach to ETF approvals. Approval would bring regulatory clarity and attract new capital inflows, sparking a bullish phase for Ethereum. 📈 Worth the Risk? The market expects denial, so downside is limited. But the upside of an unexpected approval makes it worth the speculative risk. Many believe a spot ETH ETF is inevitable - robably by May 2025. Strategies are focusing on outperforming leading cryptos regardless of the ETF outcome. Stay tuned! #Ethereum #Crypto #ETFs #Blockchain #Investing #Finance

🚀 Ethereum Spot ETF Approval Timing, Details in Full: ETH Price Jumps as SEC Decision Looms 📊 - Crypto market rallies ahead of a potential Ethereum ETF approval. - All eyes on Gary Gensler and what he will decide regarding VanEck Ethereum ETF. - Ethereum's staking model and potential security classification raise regulatory concerns. - SEC Chair Gensler remains cautious about crypto due to fraud and manipulation concerns. - Ethereum leads crypto rally with surge amid ETF speculation. - Industry insiders are optimistic about Ethereum ETFs, citing similarities to Bitcoin ETFs. - SEC decision on VanEck's spot Ether ETF looms with broader market implications. - Skepticism on approvals for Ethereum ETFs due to staking concerns. - Researcher suggests SEC compromise on Ethereum ETFs. - Key players in the race for Ethereum ETF approval. - Gensler maintains critical stance on crypto amidst ETF approvals. - Ethereum vs. Bitcoin: Distinct roles and regulatory challenges. - Industry insiders confident in SEC's approval of Ethereum ETFs. Want to know more? Check out the full article here: https://lnkd.in/dQ65RZqm