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 The post BlackRock warned SEC lack of in-kind orders for Bitcoin ETF shares could hurt investors appeared first on CryptoSlate.

The Newborn Nine spot Bitcoin ETFs recently launched in the US have seen their combined assets under management explode to $5.1 billion in the nine trading days since their launch. However, throughout this period, the price of Bitcoin has fallen roughly 20%. The share prices for these ETFs have also fallen in line with Bitcoin. The post Why declining prices did not stop Bitcoin holdings increasing for new ETFs appeared first on CryptoSlate.

With Bitcoin down some 20% from its year-to-date high, it’s often helpful to zoom out and look at the broader picture. I have a saved chart of all the tokens listed in the Coinbase and Binance lawsuits filed (C&B suits) on June 6 and June 5, 2023, respectively, and their prices as denominated in Bitcoin. The post Solana and ICP up over 49% against Bitcoin since SEC labeled them as securities appeared first on CryptoSlate.

According to data from trading firm Webull, around 70% of Grayscale GBTC holders likely remain in profit. The average shares were purchased at $27.82, some 20% below the current price as of press time. The Webull data shows the state of the trust the day before its conversion to a spot Bitcoin ETF and indicates The post Why most Grayscale investors may remain in profit if GBTC falls further 20% to $27 appeared first on CryptoSlate.

BlackRock’s iShares Bitcoin Trust recorded its first discount to its Net Asset Value (NAV) on Jan. 19, dropping to a discounted rate of -0.30%, according to official BlackRock data. “The above table and line graph present information about the differences between the daily closing price for shares of the fund and the fund’s net asset The post Grayscale NAV flips BlackRock as IBIT records first discount to Bitcoin since launch appeared first on CryptoSlate.