CF Benchmarks’ Post

Delighted and humbled to celebrate the launch of WisdomTree Asset Management’s Bitcoin ETF!   “Congratulations to their entire team on this monumental achievement in the world of finance. All of us at CF Benchmarks are truly honoured that our regulated CME CF Bitcoin Reference Rate, New York Variant (BRRNY) has been chosen as the index to determine NAV for this pioneering crypto investment vehicle. Being a part of this launch is a testament to the trust and credibility we strive for in the industry,” said CEO, Sui Chung.   The launch of a spot #bitcoinetf is a milestone that not only marks a new chapter in financial accessibility, but also showcases the evolving landscape of #cryptocurrencies. We're proud to contribute to this progress and enable smoother ownership of digital assets through regulated means.   Kudos to the teams involved for making this happen! Here's to greater financial inclusivity and innovative investment opportunities ahead.   Dive into the detail https://lnkd.in/eWJq62DT #etf #bitcoin #crypto #digitalassets CME Group

【If the SEC grants appropriate regulatory approval to allow a spot Bitcoin ETF to enter the U.S. market, what would happen to GBTC?】 The creation of GBTC shares would be registered with the SEC through a registration statement on Form S-3 under the Securities Act of 1933. Redemption of GBTC shares is anticipated to occur under exemptions granted by the SEC previously for products with similar features under Regulation M. This would provide the necessary approvals for both creation and redemption, enabling arbitrage opportunities when there is a premium or discount between GBTC's share price and its net asset value, thereby allowing GBTC to more closely track the value of its underlying asset, Bitcoin. Additionally, once the SEC approves NYSE Arca's 19b-4 rule filing, GBTC would transition from OTCQX to NYSE Arca. GBTC has long been prepared to operate as an ETF. Upon receiving the appropriate regulatory approval, Grayscale will promptly collaborate with our partners to list GBTC on NYSE Arca. #ETF #GBTC #SEC #usdt #bitcoin #otc #crypto #eth #usd #OTCTrading #CryptoOTC #DigitalAssets #CryptoInvesting #TokenTrading #CryptoLiquidity #CryptoToFIAT

Australia's largest stock exchange, The Australian Securities Exchange (ASX), is expected to approve the country's first spot bitcoin ETFs before the end of 2024, according to a recent Bloomberg report. Two entities, Cosmos Asset Management and 3iQ, have already applied for spot bitcoin ETFs with the ASX, while VanEck Australia is working towards submitting its application. Earlier this month, Australia-based asset manager Monochrome also applied for a spot bitcoin ETF with rival exchange Cboe Australia. The potential launch follows major spot bitcoin ETF approvals in the US and Hong Kong. In January, the SEC approved several US spot bitcoin ETFs, which attracted over $200 billion in volume within just three months. #DigitalAssets #Bitcoin #Cryptofication #bitcoinetfs #Tradfi

Delighted and humbled to celebrate the launch of Franklin Templeton’s Bitcoin ETF! “Congratulations to their entire team on this monumental achievement in the world of finance. All of us at CF Benchmarks are truly honoured that our regulated CME CF Bitcoin Reference Rate, New York Variant (BRRNY) has been chosen as the index to determine NAV for this pioneering crypto investment vehicle. Being a part of this launch is a testament to the trust and credibility we strive for in the industry,” said CEO, Sui Chung. The launch of a spot #bitcoinetf is a milestone that not only marks a new chapter in financial accessibility, but also showcases the evolving landscape of cryptocurrencies. We're proud to contribute to this progress and enable smoother ownership of digital assets through regulated means. Kudos to the teams involved for making this happen! Here's to greater financial inclusivity and innovative investment opportunities ahead. Dive into the detail https://lnkd.in/eWJq62DT #etf #bitcoin #crypto #digitalassets CME Group

The Australian Securities Exchange (ASX) has given the green light to another Bitcoin ETF. DigitalX's Bitcoin ETF, trading under the ticker “BTXX,” will begin trading this Friday. This marks a significant milestone for DigitalX and the Australian digital asset investment market. DigitalX has partnered with K2 Asset Management and Canadian digital assets company 3iQ, which previously launched some of the first crypto ETFs in Toronto in 2021. "Offering the DigitalX Bitcoin ETF to the Australian market is a watershed moment for DigitalX and the Australian digital asset investment market overall," said Lisa Wade, CEO of DigitalX, in a press release. "Enabling Australians to invest in Bitcoin in a secure and affordable manner, without having to manage digital wallets, will be a game changer." This launch comes just weeks after VanEck introduced a Bitcoin ETF on the ASX, mirroring their U.S.-listed equivalent. U.S. Bitcoin ETFs have seen total net inflows of over $15 billion since their inception. Stay tuned for more updates on this developing story. #BitcoinETF #DigitalX #ASX #CryptoInvestment #Bitcoin #Blockchain #InvestmentNews #FinancialInnovation

When #Bitcoin #ETFs were approved for trading one of the topics of conversation that #BTC maximalists were reticent to confront was exactly what is being described in the below article. All things equal, BTC in the form of #IBIT is far more attractive to developed market investors than BTC held on a crypto exchange. The #SEC has blessed it, BlackRock put its name on it, it sits inside a regulated and easy own traditional #brokerage account, #trading costs are nil, holding costs for now are nil - why take more risks to own the same asset? As a result of all this, ETFs and their inflows/outflows are becoming THE pricing mechanism for the underlying, or as they say, the tail is wagging the dog. Add to all this the fact that the the dog (BTC) is at this point just a "holding" asset, that anyone who is trying to build things on the network is finding that Lightning (the tool that was going to make the Bitcoin Network usable for "things" that the network cannot do) is apparently bailing out (https://lnkd.in/eZDTxYi8) and all you ave left is flows (vs. say fundamentals) to determine price. more ETF buyers = price UP, more ETF sellers = price DOWN - the independent, #decentralized, #TradFi alternative to corrupt #WallStreet is priced by the largest asset managers in the world on traditional stock exchange. That loud sound you are hearing is #Satoshi crying tears of pain. https://lnkd.in/eBWev4uC

A Dawn for Crypto Adoption? Spot Bitcoin ETFs Poised for 2024 Launch A palpable buzz electrifies the cryptocurrency community as whispers of imminent U.S. Securities and Exchange Commission (SEC) approval for spot bitcoin ETFs gain momentum. 👉 Industry giants like BlackRock, Grayscale Investments, ARK Investment Management LLC, and 21Shares have engaged in intensive discussions with the SEC, meticulously refining their proposals to address regulatory concerns. 👉BlackRock has taken a decisive step by pre-seeding its spot ETF with $10 million on January 3rd, 2024. This strategic move, coupled with their adoption of the "cash creation" model, demonstrates BlackRock's unwavering commitment to navigating the regulatory landscape. 👉The plot thickens with December 29th being the deadline for final adjustments, paving the way for potential approvals as early as January 3rd. The race for the coveted "first-mover" advantage intensifies, with the January 10th deadline fueling the competitive fire amongst issuers. #BitcoinETFs #CryptoRegulation #FinancialInnovation #InvestingInTheFuture

Delighted and humbled to celebrate the launch of Bitwise Asset Management’s Bitcoin ETF!   “Congratulations to their entire team on this monumental achievement in the world of finance. All of us at CF Benchmarks are truly honoured that our regulated CME CF Bitcoin Reference Rate, New York Variant (BRRNY) has been chosen as the index to determine NAV for this pioneering crypto investment vehicle. Being a part of this launch is a testament to the trust and credibility we strive for in the industry,” said CEO, Sui Chung.   The launch of a spot #bitcoinetf is a milestone that not only marks a new chapter in financial accessibility, but also showcases the evolving landscape of #cryptocurrencies. We're proud to contribute to this progress and enable smoother ownership of digital assets through regulated means. Kudos to the teams involved for making this happen! Here's to greater financial inclusivity and innovative investment opportunities ahead.   Dive into the detail https://lnkd.in/eWJq62DT #etf #bitcoin #crypto #digitalassets CME Group  

Crypto Outlook 2024 - Prediction #1 The SEC greenlights a U.S. Spot #Bitcoin ETF in 2024   The year 2023 saw a major increase of #ETF spot applications and an emphasis towards #BTC and ETH from financial powerhouses such as BlackRock, Fidelity Investments or VanEck.   We expect green lights in one sweep for all applications today or tomorrow, January 10th, which is the final deadline for ARK Investment Management LLC.   Why?   👉 Revived momentum as renowned financial institutions, such as BlackRock with an impeccable application track record.   👉 The SEC meaningfully engaging with #ETF issuers while facing sustained pressure from Congress and the federal court ruling against the SEC in resounding favor of Grayscale Investments.   👉 Various proxies such as GBTC’s discount to NAV narrowing down to single digits (in line with the 90% projection of Bloomberg analysts) and the sustained bid on COIN (up 300% YTD, outperforming BTC; Coinbase filed as custodian for 9 of 12 Bitcoin ETFs) indicate high odds of approval.   Read more on this analysis with the link below👇 https://lnkd.in/d_RvxSKC

🌟 01/09 #AICoin Highlight News  - #SEC Chairman @GaryGensler issued warning on crypto: Crypto “can be exceptionally risky” and “often volatile.” - SEC's website gradually updated 19b-4 filings for spot Bitcoin ETF, starting with Invesco Galaxy #BitcoinETF. - Fox Business journalist Eleanor Terrett: The U.S. SEC committee could potentially delay a Spot #BTCETF approval. - #VanEck Spot Bitcoin ETF has been listed on the DTCC under ticker $HODL. - #WisdomTree Spot Bitcoin ETF has been listed on the DTCC under ticker $BTCW. - #Bitwise and #VanEck cautioned investors about the potential risk of investing in Bitcoin ETFs. - #InvescoGalaxy and #BlackRock filed form 8-A with SEC for spot ETF. - Standard Chartered Bank: #Bitcoin could see $50-100 billion in spot ETF inflows upon approval in 2024, and Bitcoin will top $200,000 by the end of 2025. - U.S. CFTC advisory committee advanced recommendations urging a timely focus on #DeFi. 🌟 Focus on - 14:00 (UTC 8), #Binance ceases support for Binance #DeFi Staking, and DeFi Staking subscriptions will no longer be available. - 18:00 (UTC 8), Binance lists #XAI and open trading.