Franklin Templeton has started the spot Ethereum ETF “fee war” by being the first to announce its fees in an amended S-1 application, according to ETF analyst Eric Balchunas.
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Joe Biden said he vetoed the resolution because “he will not support measures that jeopardize the well-being of consumers and investors.”
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Lynn Martin, President of the New York Stock Exchange Group, has celebrated the transformative impact of Bitcoin ETFs on the financial landscape. Since their introduction on January 11, these funds have magnetized traditional investors towards cryptocurrencies, significantly boosting market liquidity and Bitcoin’s price, which recently hit a new high above $73,000.
The success story extends beyond price surges; Bitcoin ETFs have attracted nearly $60 billion in inflows. BlackRock’s IBIT leads with $19.9 billion, underscoring a broadening acceptance and integration of cryptocurrencies within mainstream finance. This movement has not only increased Bitcoin’s market cap but also ignited Wall Street’s interest in Ethereum ETFs, heralding a new era of legitimacy for these digital assets in the U.S.
The enthusiasm for Bitcoin ETFs and the ensuing market optimism have prompted major financial institutions to increase their exposure to crypto assets. This trend reflects a growing confidence and a significant shift in market dynamics, reinforcing the crypto market’s position within the global financial ecosystem.
Brad Garlinghouse said he believes the market is headed toward a $5 trillion valuation and that the advent of XRP, SOL, and other crypto ETFs is a matter of time.
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Bybit confirmed internal role changes for several executives following a botched airdrop that affected 320,000 users and led to a $26 million compensation payout.
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This week’s Crypto Biz explores Solana’s comeback, BlackRock funds’ growing exposure to Bitcoin, Riot Platforms’ bid for Bitfarms, Semler Scientific using BTC as a treasury reserve, and more.
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The Senator pointed to the troubling manner in which the Securities and Exchange Commission issued its controversial staff accounting bulletin.
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Power-intensive crypto mining is controversial in Paraguay, where an attempt at crypto regulation was vetoed because of it.
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Franklin Templeton has recently updated its S-1 filing with the Securities and Exchange Commission (SEC) for its forthcoming Ethereum exchange-traded fund (ETF), announcing an impressively low management fee of 0.19%. This move places Franklin Templeton at the forefront of the competitive ETF space, particularly as the SEC tightens deadlines for issuers to finalize their submissions.
Amid growing interest and regulatory dialogue, the SEC has heightened its review process, expecting several revisions. This rigorous approach signifies the SEC’s commitment to ensuring a robust and secure market entry for Ethereum ETFs. Leading financial institutions like VanEck, BlackRock, and Fidelity have also joined the race, quickly updating their filings in response to the SEC’s guidelines.
Notably, the DTCC’s listing of ticker symbols for key players, including Franklin Templeton and its peers, heralds a significant development in the cryptocurrency investment landscape. This advancement is seen as a positive step toward mainstream adoption of Ethereum-based financial products, showcasing increased institutional confidence in the potential of crypto assets.
Welcome to the On the Margin Newsletter, brought to you by Ben Strack, Casey Wagner and Felix Jauvin. Here’s what you’ll find in today’s edition:
The latest movement in the ether ETF saga after initial SEC approvals, and what needs to happen before the products hit your brokerage account
A potential stand-off is brewing after Riot Platforms’ “hostile bid” to acquire Bitfarms
A look ahead at what Congress is up to and whether or not the new crypto bills will actually make it to the President’s desk
$19,925,658,064
That’s the assets under management in BlackRock’s iShares Bitcoin Trust (IBIT) as of Thursday, according to the fund giant’s website. That makes it…
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