The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n
While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n
For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions<\/a><\/p>\n\n\n\n ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Wood is known for her optimistic stance on Bitcoin. In a recent video on the firm\u2019s YouTube channel, she highlighted Bitcoin's impressive performance this year. Bitcoin has soared 161% since January.<\/p>\n\n\n\n See Related: <\/em><\/strong>Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions<\/a><\/p>\n\n\n\n ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
As the CEO of ARK Invest, Cathie Wood oversees a firm highly receptive to Bitcoin and cryptocurrency. ARK Invest frequently releases monthly reports on Bitcoin and maintains investments in Coinbase and Grayscale Bitcoin Trust across three of its ETFs: ARK Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW).<\/p>\n\n\n\n Wood is known for her optimistic stance on Bitcoin. In a recent video on the firm\u2019s YouTube channel, she highlighted Bitcoin's impressive performance this year. Bitcoin has soared 161% since January.<\/p>\n\n\n\n See Related: <\/em><\/strong>Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions<\/a><\/p>\n\n\n\n ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The total value of these sales, which rounds up to nearly $245 million, reflects a strategic rebalancing of ARK's holdings. <\/p>\n\n\n\n As the CEO of ARK Invest, Cathie Wood oversees a firm highly receptive to Bitcoin and cryptocurrency. ARK Invest frequently releases monthly reports on Bitcoin and maintains investments in Coinbase and Grayscale Bitcoin Trust across three of its ETFs: ARK Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW).<\/p>\n\n\n\n Wood is known for her optimistic stance on Bitcoin. In a recent video on the firm\u2019s YouTube channel, she highlighted Bitcoin's impressive performance this year. Bitcoin has soared 161% since January.<\/p>\n\n\n\n See Related: <\/em><\/strong>Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions<\/a><\/p>\n\n\n\n ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Since November 21, ARK Invest<\/a> has made notable moves in the cryptocurrency market. Cathie Wood, ARK Invest CEO, sold approximately $181 million in Coinbase shares and $64 million in Grayscale Bitcoin Trust shares. These sales are a significant part of ARK's exchange-traded funds (ETFs) strategy.<\/p>\n\n\n\n The total value of these sales, which rounds up to nearly $245 million, reflects a strategic rebalancing of ARK's holdings. <\/p>\n\n\n\n As the CEO of ARK Invest, Cathie Wood oversees a firm highly receptive to Bitcoin and cryptocurrency. ARK Invest frequently releases monthly reports on Bitcoin and maintains investments in Coinbase and Grayscale Bitcoin Trust across three of its ETFs: ARK Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW).<\/p>\n\n\n\n Wood is known for her optimistic stance on Bitcoin. In a recent video on the firm\u2019s YouTube channel, she highlighted Bitcoin's impressive performance this year. Bitcoin has soared 161% since January.<\/p>\n\n\n\n See Related: <\/em><\/strong>Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions<\/a><\/p>\n\n\n\n ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
MicroStrategy, an established name in the tech world, is known for its prowess in business intelligence, mobile software solutions, and cloud-based services. At the core of its product line is a robust data analytics platform, widely utilized by various businesses for efficient data visualization. This platform stands as a testament to the company's commitment to innovative technology solutions.<\/p>\n","post_title":"MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-acquires-additional-615m-in-bitcoin-5-9b-total-bitcoin-portfolio","to_ping":"","pinged":"","post_modified":"2023-12-28 22:10:13","post_modified_gmt":"2023-12-28 11:10:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14809","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14741,"post_author":"15","post_date":"2023-12-22 21:54:59","post_date_gmt":"2023-12-22 10:54:59","post_content":"\n Since November 21, ARK Invest<\/a> has made notable moves in the cryptocurrency market. Cathie Wood, ARK Invest CEO, sold approximately $181 million in Coinbase shares and $64 million in Grayscale Bitcoin Trust shares. These sales are a significant part of ARK's exchange-traded funds (ETFs) strategy.<\/p>\n\n\n\n The total value of these sales, which rounds up to nearly $245 million, reflects a strategic rebalancing of ARK's holdings. <\/p>\n\n\n\n As the CEO of ARK Invest, Cathie Wood oversees a firm highly receptive to Bitcoin and cryptocurrency. ARK Invest frequently releases monthly reports on Bitcoin and maintains investments in Coinbase and Grayscale Bitcoin Trust across three of its ETFs: ARK Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW).<\/p>\n\n\n\n Wood is known for her optimistic stance on Bitcoin. In a recent video on the firm\u2019s YouTube channel, she highlighted Bitcoin's impressive performance this year. Bitcoin has soared 161% since January.<\/p>\n\n\n\n See Related: <\/em><\/strong>Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions<\/a><\/p>\n\n\n\n ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
MicroStrategy<\/a> (MSTR) has seen its stock price climb over 350% in 2023. The price move was largely due to expectations surrounding the approval of a spot Bitcoin\u00a0exchange-traded fund (ETF) in the United States. At the time of writing, MSTR is trading at $654, up 8.3% intraday.\u00a0<\/p>\n\n\n\n MicroStrategy, an established name in the tech world, is known for its prowess in business intelligence, mobile software solutions, and cloud-based services. At the core of its product line is a robust data analytics platform, widely utilized by various businesses for efficient data visualization. This platform stands as a testament to the company's commitment to innovative technology solutions.<\/p>\n","post_title":"MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-acquires-additional-615m-in-bitcoin-5-9b-total-bitcoin-portfolio","to_ping":"","pinged":"","post_modified":"2023-12-28 22:10:13","post_modified_gmt":"2023-12-28 11:10:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14809","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14741,"post_author":"15","post_date":"2023-12-22 21:54:59","post_date_gmt":"2023-12-22 10:54:59","post_content":"\n Since November 21, ARK Invest<\/a> has made notable moves in the cryptocurrency market. Cathie Wood, ARK Invest CEO, sold approximately $181 million in Coinbase shares and $64 million in Grayscale Bitcoin Trust shares. These sales are a significant part of ARK's exchange-traded funds (ETFs) strategy.<\/p>\n\n\n\n The total value of these sales, which rounds up to nearly $245 million, reflects a strategic rebalancing of ARK's holdings. <\/p>\n\n\n\n As the CEO of ARK Invest, Cathie Wood oversees a firm highly receptive to Bitcoin and cryptocurrency. ARK Invest frequently releases monthly reports on Bitcoin and maintains investments in Coinbase and Grayscale Bitcoin Trust across three of its ETFs: ARK Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW).<\/p>\n\n\n\n Wood is known for her optimistic stance on Bitcoin. In a recent video on the firm\u2019s YouTube channel, she highlighted Bitcoin's impressive performance this year. Bitcoin has soared 161% since January.<\/p>\n\n\n\n See Related: <\/em><\/strong>Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions<\/a><\/p>\n\n\n\n ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
MicroStrategy<\/a> (MSTR) has seen its stock price climb over 350% in 2023. The price move was largely due to expectations surrounding the approval of a spot Bitcoin\u00a0exchange-traded fund (ETF) in the United States. At the time of writing, MSTR is trading at $654, up 8.3% intraday.\u00a0<\/p>\n\n\n\n MicroStrategy, an established name in the tech world, is known for its prowess in business intelligence, mobile software solutions, and cloud-based services. At the core of its product line is a robust data analytics platform, widely utilized by various businesses for efficient data visualization. This platform stands as a testament to the company's commitment to innovative technology solutions.<\/p>\n","post_title":"MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-acquires-additional-615m-in-bitcoin-5-9b-total-bitcoin-portfolio","to_ping":"","pinged":"","post_modified":"2023-12-28 22:10:13","post_modified_gmt":"2023-12-28 11:10:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14809","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14741,"post_author":"15","post_date":"2023-12-22 21:54:59","post_date_gmt":"2023-12-22 10:54:59","post_content":"\n Since November 21, ARK Invest<\/a> has made notable moves in the cryptocurrency market. Cathie Wood, ARK Invest CEO, sold approximately $181 million in Coinbase shares and $64 million in Grayscale Bitcoin Trust shares. These sales are a significant part of ARK's exchange-traded funds (ETFs) strategy.<\/p>\n\n\n\n The total value of these sales, which rounds up to nearly $245 million, reflects a strategic rebalancing of ARK's holdings. <\/p>\n\n\n\n As the CEO of ARK Invest, Cathie Wood oversees a firm highly receptive to Bitcoin and cryptocurrency. ARK Invest frequently releases monthly reports on Bitcoin and maintains investments in Coinbase and Grayscale Bitcoin Trust across three of its ETFs: ARK Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW).<\/p>\n\n\n\n Wood is known for her optimistic stance on Bitcoin. In a recent video on the firm\u2019s YouTube channel, she highlighted Bitcoin's impressive performance this year. Bitcoin has soared 161% since January.<\/p>\n\n\n\n See Related: <\/em><\/strong>Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions<\/a><\/p>\n\n\n\n ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> CryptoCom Reveals Its $2.8B Asset Portfolio<\/a><\/p>\n\n\n\n MicroStrategy<\/a> (MSTR) has seen its stock price climb over 350% in 2023. The price move was largely due to expectations surrounding the approval of a spot Bitcoin\u00a0exchange-traded fund (ETF) in the United States. At the time of writing, MSTR is trading at $654, up 8.3% intraday.\u00a0<\/p>\n\n\n\n MicroStrategy, an established name in the tech world, is known for its prowess in business intelligence, mobile software solutions, and cloud-based services. At the core of its product line is a robust data analytics platform, widely utilized by various businesses for efficient data visualization. This platform stands as a testament to the company's commitment to innovative technology solutions.<\/p>\n","post_title":"MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-acquires-additional-615m-in-bitcoin-5-9b-total-bitcoin-portfolio","to_ping":"","pinged":"","post_modified":"2023-12-28 22:10:13","post_modified_gmt":"2023-12-28 11:10:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14809","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14741,"post_author":"15","post_date":"2023-12-22 21:54:59","post_date_gmt":"2023-12-22 10:54:59","post_content":"\n Since November 21, ARK Invest<\/a> has made notable moves in the cryptocurrency market. Cathie Wood, ARK Invest CEO, sold approximately $181 million in Coinbase shares and $64 million in Grayscale Bitcoin Trust shares. These sales are a significant part of ARK's exchange-traded funds (ETFs) strategy.<\/p>\n\n\n\n The total value of these sales, which rounds up to nearly $245 million, reflects a strategic rebalancing of ARK's holdings. <\/p>\n\n\n\n As the CEO of ARK Invest, Cathie Wood oversees a firm highly receptive to Bitcoin and cryptocurrency. ARK Invest frequently releases monthly reports on Bitcoin and maintains investments in Coinbase and Grayscale Bitcoin Trust across three of its ETFs: ARK Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW).<\/p>\n\n\n\n Wood is known for her optimistic stance on Bitcoin. In a recent video on the firm\u2019s YouTube channel, she highlighted Bitcoin's impressive performance this year. Bitcoin has soared 161% since January.<\/p>\n\n\n\n See Related: <\/em><\/strong>Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions<\/a><\/p>\n\n\n\n ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\n The recent meeting was a follow-up to a previous one on November 20, during which the SEC expressed concerns about BlackRock's<\/a> share redemption model. The initial proposal involved a T+1 settlement, starting with a broker-dealer delivering IBTC shares to a transfer agent. The issuer would then instruct the custodian (Coinbase Custody) to send Bitcoin backing the shares to a crypto market maker, who would close a short Bitcoin position.<\/p>\n\n\n\n The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
This acquisition is a significant expansion that brings MicroStrategy's total Bitcoin holdings to 189,150 BTC. This immense collection of digital assets is now valued at around $5.9 billion, with the average purchase price of each bitcoin being $31,168. The company's latest purchase was executed at an average price of $42,110 per bitcoin, indicating robust confidence in the long-term value of this digital currency.<\/p>\n\n\n\n See Related:<\/em><\/strong> CryptoCom Reveals Its $2.8B Asset Portfolio<\/a><\/p>\n\n\n\n MicroStrategy<\/a> (MSTR) has seen its stock price climb over 350% in 2023. The price move was largely due to expectations surrounding the approval of a spot Bitcoin\u00a0exchange-traded fund (ETF) in the United States. At the time of writing, MSTR is trading at $654, up 8.3% intraday.\u00a0<\/p>\n\n\n\n MicroStrategy, an established name in the tech world, is known for its prowess in business intelligence, mobile software solutions, and cloud-based services. At the core of its product line is a robust data analytics platform, widely utilized by various businesses for efficient data visualization. This platform stands as a testament to the company's commitment to innovative technology solutions.<\/p>\n","post_title":"MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-acquires-additional-615m-in-bitcoin-5-9b-total-bitcoin-portfolio","to_ping":"","pinged":"","post_modified":"2023-12-28 22:10:13","post_modified_gmt":"2023-12-28 11:10:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14809","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14741,"post_author":"15","post_date":"2023-12-22 21:54:59","post_date_gmt":"2023-12-22 10:54:59","post_content":"\n Since November 21, ARK Invest<\/a> has made notable moves in the cryptocurrency market. Cathie Wood, ARK Invest CEO, sold approximately $181 million in Coinbase shares and $64 million in Grayscale Bitcoin Trust shares. These sales are a significant part of ARK's exchange-traded funds (ETFs) strategy.<\/p>\n\n\n\n The total value of these sales, which rounds up to nearly $245 million, reflects a strategic rebalancing of ARK's holdings. <\/p>\n\n\n\n As the CEO of ARK Invest, Cathie Wood oversees a firm highly receptive to Bitcoin and cryptocurrency. ARK Invest frequently releases monthly reports on Bitcoin and maintains investments in Coinbase and Grayscale Bitcoin Trust across three of its ETFs: ARK Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW).<\/p>\n\n\n\n Wood is known for her optimistic stance on Bitcoin. In a recent video on the firm\u2019s YouTube channel, she highlighted Bitcoin's impressive performance this year. Bitcoin has soared 161% since January.<\/p>\n\n\n\n See Related: <\/em><\/strong>Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions<\/a><\/p>\n\n\n\n ARK's decision to sell its GBTC and COIN shares becomes evident considering the substantial growth in their value. Grayscale Bitcoin Trust shares, currently priced at $36.04, had begun the year at a mere $8.20. Similarly, Coinbase shares have soared from $33.60 at the start of the year to $167.86.<\/p>\n\n\n\n Bitcoin's growth, which saw a 14% increase in the past month and a peak of over $44,000, has been driven by the anticipation of the approval of a spot Bitcoin ETF, expected as early as January.<\/p>\n\n\n\n This market surge means that ARK's remaining shares in these companies are significantly more valuable than before. For instance, Coinbase's<\/a> 52% rise in the past 30 days implies that if ARK had sold its 1.3 million COIN shares a month ago, it would have earned 30% less than the $181 million it has now.<\/p>\n\n\n\n Furthermore, ARK, along with 21Shares, is looking to expand its offerings to include a spot Bitcoin ETF. The firm, competing with entities like BlackRock, last updated its S-1 filing with the SEC and awaits a decision in January, similar to other contenders in the space. This move aligns with ARK's ongoing strategy to capitalize on the dynamic cryptocurrency market.<\/p>\n","post_title":"Cathie Wood's ARK Invest Sells Over $240 Million In Crypto Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-woods-ark-invest-sells-over-240-million-in-crypto-assets","to_ping":"","pinged":"","post_modified":"2023-12-22 21:55:06","post_modified_gmt":"2023-12-22 10:55:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14741","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14629,"post_author":"15","post_date":"2023-12-15 19:46:11","post_date_gmt":"2023-12-15 08:46:11","post_content":"\n BlackRock aims to facilitate the participation of Wall Street banks in its potential Bitcoin ETF approval. Recent SEC memo <\/a>detailing a late November meeting involving BlackRock, Nasdaq, and the Commission. During this meeting, they discussed feedback regarding BlackRock's Bitcoin ETF application.<\/p>\n\n\n\n The proposed approach introduces an innovative method for the redemption of ETF shares. A Bitcoin ETF would enable fund investors to gain exposure to Bitcoin without directly purchasing or storing the cryptocurrency. While the SEC has hesitated to approve such ETFs due to concerns about Bitcoin market manipulation, this new strategy addresses those worries.<\/p>\n\n\n\n The SEC has yet to decide on BlackRock's iShares Bitcoin Trust (IBTC) application, with the deadline set for January 15. Analysts anticipate a decision will be issued for several spot Bitcoin ETF applications earlier in January.<\/p>\n\n\n\n See Related:<\/strong><\/em> Fidelity Joins BlackRock\u2019s Push For Ethereum ETF<\/a><\/p>\n\n\n\nBlackRock ETF Details<\/h2>\n\n\n\n
BlackRock ETF Details<\/h2>\n\n\n\n
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MicroStrategy Stock Price<\/h2>\n\n\n\n
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