Gary Gensler has a full agenda as he gets set to take over the SEC
Bob Pisani, 14 April 2021
(The Senate is expected to confirm Gary Gensler as the new chairman of the Securities and Exchange Commission on Wednesday, and crypto assets — including bitcoin — are likely high on his agenda.
With Democrats in control of all three major branches of government, and the SEC commissioners now with a 3-2 Democratic majority, Gensler is likely to face calls from progressives to act on several fronts, including ESG, the Gamestop fallout, the Archegos fiasco, payment for order flow, fiduciary obligations, and especially regulations around securities in the crypto space, including a bitcoin ETF.
A Senate vote on Gensler’s nomination is scheduled for 11:45 a.m. ET. Continue reading “Article: Gary Gensler has a full agenda as he gets set to take over the SEC”
JPMORGAN EYEING BITCOIN’S CONTANGO, RELEASES BULLISH REPORT
DYLAN LECLAIR, 10 April 2021
In a report titled “Why Is The Bitcoin Futures Curve So Steep?” JPMorgan Chase analysts examined the growing futures and derivatives market surrounding bitcoin, provided insights as to why the contango is so steep and explored what the future holds for the monetary asset as it becomes increasingly financialized.
Here are some of the highlights from the report. Continue reading “Article: JPMORGAN EYEING BITCOIN’S CONTANGO, RELEASES BULLISH REPORT”
A Fidelity Bitcoin ETF Would Be Everyone’s Gain—But Grayscale’s Pain
Jeff John Roberts, 27 March 2021
This time it’s different.
For years, Bitcoin companies have been banging on the SEC’s door in hopes of launching a Bitcoin ETF—only to have the agency reply with a hard no. But now one of the companies at the door is the mighty Fidelity Investments, and that’s likely to be a game changer.
In case you missed it, the Boston-based financial giant dropped paperwork this week to create an ETF (exchange-traded fund) called the Wise Origin Bitcoin Trust—a name some say is derived from the Japanese kanji for Satoshi Nakamoto. If approved, Fidelity’s Bitcoin fund would be traded as shares on public stock exchanges alongside the company’s other ETFs dedicated to bonds, blue-chip stocks and other assets.
If this comes to pass, it would be a huge win not just for Fidelity but for everyone who owns Bitcoin. The approval of a Bitcoin ETF would add another sheen of legitimacy to cryptocurrency and, more importantly, it would lead to a flood of new investment from both retail and institutional clients. All of this would likely cause the price of Bitcoin to moon, as they say. Continue reading “Article: A Fidelity Bitcoin ETF Would Be Everyone’s Gain—But Grayscale’s Pain”
Fidelity Joins Race for US Bitcoin ETF
THESTREET CRYPTO, 25 March 2021
Fidelity has made an application with the U.S. securities regulator to offer a Bitcoin exchange-traded fund (ETF), according to public filings. The Block was the first to report on the application.
The asset management firm lodged paperwork for the Wise Origin Bitcoin Trust, which would track the price of Bitcoin using data from predominantly U.S.-based exchanges: Coinbase, Gemini, ItBit, Kraken and Bitstamp.
“An increasingly wide range of investors seeking access to Bitcoin has underscored the need for a more diversified set of products offering exposure to digital assets,” a Fidelity spokesperson told Bloomberg.
Fidelity is perhaps the highest profile name to apply for a Bitcoin ETF this year. Five other contenders are vying to become the first U.S. Bitcoin ETF, including VanEck, First Advisors/Skybridge and NYDIG. Continue reading “Article: Fidelity Joins Race for US Bitcoin ETF”
FD Funds Management Backed by Fidelity Files for Bitcoin ETF with SEC
Steve Muchoki, 25 March 2021
Fidelity Investments, an American multinational financial services corporation based in Boston, Massachusetts, through its subsidiary FD Funds Management has filed for a Bitcoin ETF with the United States Securities and Exchange Commission. According to Form S-1 filed by Fidelity Investments, the ETF will be called Wise Origin Bitcoin Trust, if the SEC approves it.
Notably, the United States Securities and Exchange Commission has rejected two other applications for a Bitcoin ETF. According to the commission, Bitcoin is a very volatile asset that may put investors’ capital at risk.
However, with already two Bitcoin ETFs approved in the Canadian market, there are high chances the United States will move towards considering a similar move. Furthermore, more institutional investors are showing the will to hold digital assets as a hedge against the deflationary fiat currencies. Continue reading “Article: FD Funds Management Backed by Fidelity Files for Bitcoin ETF with SEC”
Canadian Bitcoin ETF turns up heat on U.S. fund managers, regulators
Jeff Benjamin, 12 February 2021
Purpose Investments announced Friday morning that it has been cleared by Canadian securities regulators to launch Purpose Bitcoin ETF (BTCC), which is the first Bitcoin ETF in North America to gain regulatory approval, according to Bloomberg.
The new ETF is scheduled to start trading on the Toronto Stock Exchange next week and will be available to U.S. investors through brokerages that have access to the Canadian exchange.
There are a handful of other active filings awaiting regulatory approval in Canada, as well ETF filings before the Securities and Exchange Commission in the U.S. from VanEck and Bitwise Asset Management. Continue reading “Article: Canadian Bitcoin ETF turns up heat on U.S. fund managers, regulators”
What Investors Should Learn From Reddit, GameStop, Market Manipulation And Other Recent Headlines
Bob Carlson, 11 February 2021
Over the last couple of weeks, the financial headlines have been dominated by market manipulation, GameStop, short squeezes, Reddit frenzies and other uncommon topics. A little perspective makes it easier to understand these events and how they should affect your investment strategy.
The big news was the strong increase in the price of the stock of GameStop, a video game retailer that many investors thought was slowly dying. The price apparently increased because a large number of members in a forum on the Reddit web site said investors should buy the stock. Continue reading “Article: What Investors Should Learn From Reddit, GameStop, Market Manipulation And Other Recent Headlines”
Is First Trust Multi Cap Growth AlphaDEX ETF (FAD) a Strong ETF Right Now?
Zacks Equity Research, 14 December 2020
The First Trust Multi Cap Growth AlphaDEX ETF (FAD) made its debut on 05/08/2007, and is a smart beta exchange traded fund that provides broad exposure to the Style Box – All Cap Growth category of the market.
What Are Smart Beta ETFs?
The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.
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Should You Invest in the VanEck Vectors Pharmaceutical ETF (PPH)?
Zacks Equity Research, 07 December 2020
Launched on 12/20/2011, the VanEck Vectors Pharmaceutical ETF (PPH) is a passively managed exchange traded fund designed to provide a broad exposure to the Healthcare – Pharma segment of the equity market.
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors. Continue reading “Article: Should You Invest in the VanEck Vectors Pharmaceutical ETF (PPH)?”
Inside the New Currency Hedged ETFs from iShares
Eric Dutram, 12 February 2014
As the taper begins to ravage international markets, investors in the ETF world are starting to see the impact of currencies on foreign holdings. Many currencies are slumping against the U.S. dollar, and this is really having a huge negative impact on stock prices when investors adjust returns back to American currency.
Thanks to this currency slide and the possibility of a strong dollar, investors are starting to embrace currency-hedged ETFs in droves. Several have proven their worth over the past few months and they have really begun to build up assets as a result, leading other ETF issuers to consider jumping in on the market as well (see all the Top Ranked ETFs here).
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