Home
News
- 1 Bitcoin ETFs are still holding traction as many financial institutions have joined, and more are likely to join.
- 2 Banking institutions, asset managers and ETF providers etc., are planning to step in crypto exchange traded-funds.
Since the last several days, especially after mid-June, the topic of Bitcoin ETF has had quite a limelight across the crypto space. With the asset management giant BlackRock signaling to step in, other prominent traditional finance (TradFi) players have also joined in the league. Industry experts are assuming the participation of TradFi giants will accumulate billions of dollars. Recently, CoinShares CSO shared Bitcoin is poised to take advantage of exposure to over $27 Trillion worth of assets through mega financial entities seeking ETFs.
In a tweet on Tuesday, June 27, Chief Strategy Officer at European asset manager CoinShares, Meltem Demirors, shared a list of the biggest financial institutions in queue to add crypto exposure to their offerings. The spot Bitcoin ETF filing of BlackRock with the US SEC last week came as a significant instance. However, there is more to come with “$27 trillion of client assets” eyes on access to Bitcoin (BTC) and other digital assets.
1/ last week's @BlackRock spot Bitcoin ETF filing was big news!
— Meltem Demirors (@Melt_Dem) June 26, 2023
but, it's not the only story. many of the largest financial institutions in the US are actively working to provide access to Bitcoin and more.
a quick glance – $27 trillion of client assets here! pic.twitter.com/azmHZmUL2a
Demirors shared eight financial institutions, including BlackRock, which filed with the Securities and Exchange Commission for spot Bitcoin ETF on June 16. Fidelity Investments, which also filed for an exchange traded-fund offering, was also mentioned in the list. Invesco also took place in the CoinShares executive’s list after filing for the crypto fund.
In addition to the institutions already applied for the ETFs, Demirors expects banking giants JPMorgan Chase and Co., Morgan Stanley, Goldman Sachs, BNY Mellon and Bank of America (BoA) to come onboard. Together, all these financial firms make a sum of over $27 Trillion assets under management (AUM).
ETF Providers Also In Queue for Bitcoin ETF
Earlier, the President of ETFStore, Nate Geraci shared several exchange traded-funds service providers he assumed would enter the crypto ETFs space. He mentioned First Trust, VanEck, GlobalX, Fidelity Investment and Charles Schwab.
Based on past filings, here are a few of the larger ETF issuers I would keep an eye on to file/refile for a spot bitcoin ETF in the near future…
— Nate Geraci (@NateGeraci) June 24, 2023
First Trust
VanEck
Global X
Fidelity
Dark horse = Schwab
Recently, the banking giant also started offering Bitcoin and Ethereum ETF trading listed on Hong Kong exchange. These offerings include listed ETFs such as CSOP Bitcoin Future ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF.
Cathie Wood’s asset management company, Ark Invest, also recently reported to state the firm is first in line for getting an approval for a spot Bitcoin ETF from the SEC. While comparing with the BlackRock application, the firms claimed it’s even ahead for the potential approval from the biggest asset management firm.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
