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BlackRock warned SEC lack of in-kind orders for Bitcoin ETF shares could hurt investors

A novel aspect of the new spot Bitcoin ETFs, as approved by the SEC, is the cash-creation mechanism for issuing and redeeming shares. The ETFs are considered commodity-shares ETFs, yet, as BlackRock points out in its iShares Bitcoin ETF (IBIT) prospectus, “all spot-market commodities other than bitcoin, such as gold and silver, employ in-kind creations […]
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Cryptocurrency

Bitcoin’s Sharpe Ratio signals balanced risk-reward over five years

Quick Take A Sharpe Ratio for Bitcoin (BTC) +0.97  over the past five years presents a noteworthy observation, according to Jurrien Timmer, director of Global Macro at Fidelity. Despite the renowned volatility of Bitcoin, this ratio suggests that the digital asset has offered a close to even exchange between risk and excess return over the […]
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Cryptocurrency

OKX pulls plug on mining pool amid declining user and hashrate numbers

Crypto exchange OKX will discontinue its mining pool services due to “business adjustments” reasons, according to a Jan. 26 statement. The platform said it had halted new customer registrations, effective immediately. Existing users will retain access to the platform until Feb. 25, after which all mining pool-related services will be discontinued by Feb. 26. “Due […]
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Cryptocurrency

From freeze to flourish as Bitcoin hash rate showcases resilience

Quick Take The Bitcoin hash rate experienced a significant drop in the middle of January, triggered by the Texas freeze, which saw it plunge 6% from its record peak. However, this plunge was short-lived, as evidenced by Jan. 25, which witnessed the most significant single-day hash rate ever recorded, at an impressive 638eh/s, marking a […]
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Cryptocurrency

Grayscale selling pressure ‘largely behind us,’ spotlight on Newborn Nine: JP Morgan

Analysts from banking giant JPMorgan believe that the profit-taking from the Grayscale Bitcoin Trust (GBTC) may have concluded, potentially alleviating the downward pressure on Bitcoin prices.  The analysts explained that they had estimated that GBTC could see as much as $3 billion in outflows from investors previously exposed to its discount. But with the flow […]
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Cryptocurrency

US debt spirals past $34 trillion with interest forecasted to hit $3 trillion by 2030

Quick Take The United States’ mounting debt structure currently stands at a staggering $34 trillion, according to usdebtclock.org. An escalating annualized interest accompanies this steep climb on the federal debt that exceeds $1 trillion and is projected to break through the $3 trillion threshold by Q4 2030, according to E.J. Antoni, an economist at Heritage […]
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Cryptocurrency

Banks Maintain Credit Standards in Q4 2023

PDate: 1/26/2024
Content: ​Results of the Q4 2023 Senior Bank Loan Officers’ Survey (SLOS)1  indicated that most of the respondent banks kept their credit standards generally unchanged for lending to businesses and consumers based on the modal app...
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