Web3 Diaries
Spot Bitcoin ETF Will Pave The Way For Pension Fund Investment: CBOE
Spot Bitcoin exchange-traded funds (ETFs) will attract a whole new wave of institutional investors, says America’s largest options exchange, the Chicago Board Options Exchange (CBOE).
Responding to the queries of Bloomberg TV presenter, CBOE Digital president John Palmer said, “an approval will open the door to a new wave of institutional and, eventually, retail interest in Bitcoin derivatives.”
Palmer believes that the approval will pave the way for pension funds and RIA-based funds to invest in spot Bitcoin ETF. Many funds are currently unable to gain direct exposure to Bitcoin, he added.
Fidelity And Galaxy Announces Fees For Proposed Bitcoin ETFs
According to reports, the fees that would be assessed if the two proposed Bitcoin exchange-traded funds (ETFs) are authorized have been decided by their issuers.
A Fortune report states that Fidelity Investments will charge investors in its Wise Origin Bitcoin Trust 0.39% annually, while Galaxy/Invesco will charge investors in its BTCO fund 0.59% annually.
Regarding Galaxy/Invesco, the charge will not be charged during the fund’s initial six months of operation. The information came from a court file dated December 29, according to the newspaper.
Ethereum Price Soars By Almost 10% After Buterin’s 2024 Vision
According to CoinMarketCap statistics, Ethereum (ETH) has experienced a spectacular rise in demand, driving up its price by about 10% in the last day.
Following a series of tweets by Ethereum co-founder Vitalik Buterin on X (previously Twitter) detailing the blockchain’s revamped plan until 2024, the price has rallied.
Buterin’s 2024 roadmap highlighted six core priorities: the merge, the surge, the scourge, the verge, the purge, and the splurge.
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