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NEWSLETTER

Digital assets rise again

Research this week from Fineqia International, ETC Group and CoinShares all seems to point to an exciting return of the cryptocurrencies. Matteo Greco from Fineqia International detailed the key stages outstanding in the long awaited approval of a spot bitcoin ETP in the US. Will it happen in 2023? Time is running out. I hear some of my peers have a red meat bet on?

Greco writes: “Regarding ETFs, the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE) continue to maintain low discounts, standing at 8.7 per cent and 14.6 per cent, respectively. This reaffirms investor confidence in the anticipated mass approval of BTC Spot ETFs in early January 2024. The official closing of the comments period is set for January 4, leaving a window between Jan. 5 and Jan. 10, 2024, for approval or rejection. Since ETFs cannot be approved during the comments period, and with the deadline for 21Shares filing being Jan. 10, this six-day window will determine whether BTC Spot ETFs will be approved for trading in the US.

“Given the current market momentum, a retracement in December is plausible to reduce open interest and leverage before building an upward trend as the SEC decision deadline approaches. An approval is expected to bring short-term capital influx from the traditional finance investors, fuelling the uptrend, while a rejection might trigger a short-term negative price action due to high expectations of approval by market participants. A rejection could prompt market participants to adjust their positions, potentially leading to a downward trend in January. Analysts remain confident, however, maintaining a 90 per cent probability of approval.”

Our interview this week is with Katie Stockton, founder and managing partner of Fairlead Strategies, winner of Best Mixed-Allocation ETF Issuer ($100m-$1bn) in the ETF Express US Awards.

Fairlead Strategies is the first ETF of ETFs to win in our awards and Stockton details how the firm put together their product, TACK, and her background in technical analysis that led to the formation of the firm.

Beverly Chandler, Managing Editor

For live updates please follow us on Twitter and LinkedIn.

LATEST NEWS

The digital asset fund flows report from CoinShares this week reports that digital asset inflows totalled USD176 million last week, reaching a 10-week total of USD1.76 billion, the highest since October 2021’s futures-based ETF launch in the US.
Connecticut-based Fairlead Strategies was the first ETF of ETFs winner in the ETF Express US awards, representing a new development in the fast-growing and fast developing industry.

Global ETF Launches

Global Launches sponsored by STOXX
Non-North American launches this week were slowing down for the holidays, with just J.P.Morgan Asset Management’s launch of its Global Equity Premium Income UCITS ETF, an actively managed outcome-oriented ETF strategy which seeks to offer investors consistent income: 7-9 per cent annualised, paid monthly, and appreciation potential with less volatility than JEPG’s respective benchmark.

US ETF Launches

US Launches sponsored by STOXX
Some13 new ETF offerings were launched for the week, each with a distinct value proposition for investors.  Detailed below are the respective launches from each asset manager.

Canada ETF LAUNCHES

Canada Launches sponsored by STOXX
A summary of the Canadian ETF launches that occurred in November 2023.
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