Chain News Daily Today TheBitTimes.com

Source: Grayscale Grayscale has officially announced the launch of the Grayscale XRP Trust on September 12, 2024. This new financial product aims to provide investors with direct exposure to XRP , a cryptocurrency used in Ripple’s cross-border payment systems. The trust is open to daily subscriptions for eligible individual and institutional accredited investors. We are proud to announce the creation of a new single-asset crypto investment fund, Grayscale $XRP Trust, which will be available through private placement. Available to eligible accredited investors. Read the press release: https://t.co/rOmVPUSFxZ pic.twitter.com/WEhk849RmT — Grayscale (@Grayscale) September 12, 2024 Potential for an XRP ETF The introduction of the Grayscale XRP Trust may set the stage for a future XRP exchange-traded fund (ETF), though such a development would require approval from the U.S. Securities and Exchange Commission (SEC) . As highlighted in a report by Fox Business, ...

In what is certainly an interesting development, Spot Ethereum ETFs have started August on a positive note, fending off Grayscale’s combined $1 billion worth of outflows. Indeed, the ETh investment offerings posted a net inflow of $26.7 million. That was led by $10 trillion asset manager BlackRock’s ETH offering. The product has not yet had the impact of Bitcoin’s ETF, that began trading in January. Many have looked to Grayscale’s outflow concerns as a major issue for the newly approved ETH ETFs. Yet, some experts believe that issue will begin curtailing in the coming weeks. Source: CNBC Also Read: Ethereum ETF: $26.7 Million Inflow in Crypto Investments BlackRock Leads Ethereum ETF Inflows in Positive Turn The crypto market has seen ETFs dominate discussion this year. Its two top assets have both received the investment vehicle this year, but to differing results. With ETH entering its second week, things are starting to look up. This is despite some worry deriv...

GBTC’s issuer added an ETF veteran to its ranks following constructive talks with the Securities and Exchange Commission over approval for spot Bitcoin funds. Digital asset giant Grayscale Investments has hired John Hoffman, a former high-ranking executive at Invesco, to aid its efforts toward bringing America’s first spot Bitcoin (BTC) ETF to market amid growing interest in the world’s top cryptocurrency.  Hoffman was onboarded as Grayscale’s managing director, head of distribution and partnerships, a strategic role pivotal to growing financial products.  He arrived at the firm with nearly two decades’ worth of experience including leading ETFs and Indexed Strategies decisions at Invesco Ltd from 2020 to 2023. JUST IN: 🟠 Grayscale is preparing for its #Bitcoin ETF launch with the hiring of Invesco ETF executive as the managing director to head distribution and strategic partnerships. It's all set for pic.twitter.com/9lIN5bfvB8 — Bitcoin Archive (@BTC_Archive...

The stars are lining up for Bitcoin price, but a few major price threats remain in play. Bitcoin (BTC) price surged by 26.5% in October and several indicators hit a one-year high, including the BTC futures premium and the Grayscale GBTC discount.  For this reason, it's challenging to present a bearish thesis for BTC as data reflects the post-FTX-Alameda Research collapse recovery period and is also influenced by the recent increase in interest rates by the U.S. Federal Reserve. Despite the positive indicators, Bitcoin price still remains around 50% below its all-time high of $69,900 which was hit in November 2021. In contrast, gold is trading just 4.3% below its $2,070 level from March 2022. This stark difference diminishes the significance of Bitcoin's year-to-date gains of 108% and highlights the fact that Bitcoin's adoption as an alternative hedge is still in its early stages. Before deciding whether the improvement in Bitcoin futures premium, open interest and the G...

Grayscale’s Bitcoin Trust conversion into an ETF seems imminent as the SEC’s attempt to block fails, paving the way for possible broader Bitcoin spot ETF approvals in the US. The long-awaited conversion of the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin (BTC) exchange-traded fund (ETF) appears close at hand following a failed appeal by the Securities and Exchange Commission (SEC) to block the move. According to an Oct. 16 video by famous cryptocurrency analyst CryptosRUs, the deadline for the SEC to appeal a recent court ruling in favor of Grayscale has passed. The order struck down the SEC’s reasons for previously denying conversion of the Trust into a spot Bitcoin ETF. With no valid objections left after declining to appeal, he suggests Grayscale can now reapply for conversion with high chances of approval. The SEC would have to provide a new rationale to deny the application, which it is unlikely to do after losing in court. You might also like...