Blockchain
ProShares files for 5 Bitcoin ETFs with indirect exposure
ProShares, a major issuer of exchange-traded funds (ETFs) in the United States, is working to launch several Bitcoin
BTC tickers down ETFs with indirect BTC exposure amid the first days of spot Bitcoin ETF trading on local stock exchanges.
According to a Jan. 16 filing with the U.S. Securities and Exchange Commission (SEC), ProShares wants to launch leveraged and inverse Bitcoin ETFs. The ETFs seek daily investment results from Bitcoin price increases and decreases based on the daily performance of the Bloomberg Galaxy Bitcoin Index (BGCI).
ProShares’ prospectuses specifically propose to launch five new Bitcoin ETFs, including Plus Bitcoin ETF, Ultra Bitcoin ETF, UltraShort Bitcoin ETF, Short Bitcoin ETF and ShortPlus Bitcoin ETF.
The other three funds, ProShares UltraShort Bitcoin ETF, ProShares Short Bitcoin ETF and ProShares ShortPlus Bitcoin ETF, seek daily investment results based on the inverse of the daily performance of the BGCI of -2x, -1x and -1.5x, respectively. The funds do not directly short Bitcoin, ProShares stressed in the filing, adding that it seeks to benefit from decreases in the price of Bitcoin.
At the time of filing, Bitcoin was trading at around $43,000, seeing a significant decline following the launch of spot Bitcoin ETFs in the United States. Some industry investors like ARK Invest CEO Cathie Wood previously predicted that the market is likely to face a short-term sell-off due to some investors looking to cash out amid positive news.
The filling comes a few days after the U.S. SEC approved the first 10 spot Bitcoin ETFs on Jan. 10, with the first trades debuting on Jan. 11. ProShares was not one of the issuers behind the first wave of spot Bitcoin ETFs, though.
Related: Estimated $1.1B flees GBTC in 3 days as ARK begins buying own Bitcoin ETF
ProShares firm has been focused on futures-based crypto ETFs, launching one of the first Bitcoin futures-linked ETFs in the U.S. in October 2021. Its flagship BTC futures-based product, Bitcoin Strategy ETF (BITO), has seen significant growth over the past few months, briefly reaching $2 billion in assets under management (AUM) for the first time in January 2024.
Apart from BITO, ProShares also currently offers the Ether Strategy ETF, Bitcoin & Ether Market Cap Weight Strategy ETF and the Bitcoin & Ether Equal Weight Strategy ETF.
Source: Cointelegraph
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Blockchain
Ebang International Reports Financial Results for Fiscal Year 2023
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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