Kraken's subsidiary, CF Benchmarks, is in talks with
50 firms seeking its services for spot Bitcoin exchange-traded fund (ETF) pricing. This development
follows the recent approval of 11 spot Bitcoin ETF applications by the US
Securities and Exchange Commission (SEC).
According to a report by the Financial News, CF
Benchmarks is providing data to major players like BlackRock and Franklin
Templeton. Currently, six out of the eleven approved spot Bitcoin ETF providers
leverage CF Benchmarks' index to track pricing data from various exchanges that meet stringent criteria. While roughly half of the firms in talks with CF
Benchmarks are from the US, the increasing interest from Europe and Asia
signals a global shift as regulatory developments in the US prompt a ripple
effect worldwide.
Global Interest and Regulatory Dynamics
As the regulatory landscape evolves, asset managers
and banks are at the forefront of the wave, exploring spot Bitcoin ETF pricing
to capitalize on the growing crypto market.
The recent approval from the SEC has set off a
frenzy among investors. On January 11 and 12, trading volumes for spot Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term
ETFs soared to $7.7 billion, reflecting a remarkable start for this financial
instrument. CF Benchmarks' CEO, Sui Chung, as quoted by the Financial News, has
acknowledged the initial success but emphasized the need for realistic
expectations.
Chung foresees a gradual rise in inflows as more
distribution channels open up in the coming months and years. He has revealed a
strategic expansion for CF Benchmarks, with the team set to grow by approximately 50%. This
expansion will span technology, index designing, and product management.
US Spot Bitcoin ETF Debut
Meanwhile, the highly anticipated launch of spot
Bitcoin ETFs in the US recently led to a significant correction in the price of Bitcoin, plummeting to around 10%. The crypto market, fueled by
widespread anticipation, expected these ETFs to democratize access for retail
and institutional investors. However, within the initial 48 hours, the reality
was starkly different, as the market witnessed a lukewarm response with only $1.4
billion in new funds flowing into the ETFs, Finance Magnates reported.
The 11 newly introduced spot Bitcoin ETFs
attracted a mere $1.4 billion in new funds. However, the Grayscale Bitcoin ETF,
converted from the Grayscale Bitcoin Trust, experienced a substantial outflow
of $579 million, highlighting an unexpected turn of events.
Kraken's subsidiary, CF Benchmarks, is in talks with
50 firms seeking its services for spot Bitcoin exchange-traded fund (ETF) pricing. This development
follows the recent approval of 11 spot Bitcoin ETF applications by the US
Securities and Exchange Commission (SEC).
According to a report by the Financial News, CF
Benchmarks is providing data to major players like BlackRock and Franklin
Templeton. Currently, six out of the eleven approved spot Bitcoin ETF providers
leverage CF Benchmarks' index to track pricing data from various exchanges that meet stringent criteria. While roughly half of the firms in talks with CF
Benchmarks are from the US, the increasing interest from Europe and Asia
signals a global shift as regulatory developments in the US prompt a ripple
effect worldwide.
Global Interest and Regulatory Dynamics
As the regulatory landscape evolves, asset managers
and banks are at the forefront of the wave, exploring spot Bitcoin ETF pricing
to capitalize on the growing crypto market.
The recent approval from the SEC has set off a
frenzy among investors. On January 11 and 12, trading volumes for spot Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term
ETFs soared to $7.7 billion, reflecting a remarkable start for this financial
instrument. CF Benchmarks' CEO, Sui Chung, as quoted by the Financial News, has
acknowledged the initial success but emphasized the need for realistic
expectations.
Chung foresees a gradual rise in inflows as more
distribution channels open up in the coming months and years. He has revealed a
strategic expansion for CF Benchmarks, with the team set to grow by approximately 50%. This
expansion will span technology, index designing, and product management.
US Spot Bitcoin ETF Debut
Meanwhile, the highly anticipated launch of spot
Bitcoin ETFs in the US recently led to a significant correction in the price of Bitcoin, plummeting to around 10%. The crypto market, fueled by
widespread anticipation, expected these ETFs to democratize access for retail
and institutional investors. However, within the initial 48 hours, the reality
was starkly different, as the market witnessed a lukewarm response with only $1.4
billion in new funds flowing into the ETFs, Finance Magnates reported.
The 11 newly introduced spot Bitcoin ETFs
attracted a mere $1.4 billion in new funds. However, the Grayscale Bitcoin ETF,
converted from the Grayscale Bitcoin Trust, experienced a substantial outflow
of $579 million, highlighting an unexpected turn of events.
