Bitcoin ETF not happening in 2021, says Wilshire Phoenix co-founder
The United States SEC may not approve a Bitcoin exchange-traded fund until 2023, according to a former BTC ETF expectant. William Cai, co-founder of investment firm Wilshire Phoenix, is the latest person to cast doubts on the possibility of a Bitcoin (BTC) exchange-traded fund (ETF) approval in the United States in 2021.Speaking to Business Insider, Cai remarked that a Bitcoin ETF in 2021 is unlikely as he offered 2022 and 2023 as the earliest possible times for the U.S. Securities and Exchange Commission to greenlight a BTC ETF.Several Bitcoin ETF hopefuls currently have filings with the....
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Data from Wilshire Phoenix suggests BTC price formation is driven by CME Bitcoin futures but would this dynamic differ if stablecoin volumes were also included? On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery.The firm concluded that "CME Bitcoin futures contribute more to price discovery than its related spot markets." And the researchers also suggested that:"CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading volume and....
The information in the report appears to confirm what many in the industry already believed to be true. A new report from investment firm Wilshire Phoenix claims that the Chicago Mercantile Exchange’s, or CME’s, cash-settled Bitcoin futures trading products affect Bitcoin’s price even though they do not directly involve actual real Bitcoin (BTC).“The findings of Wilshire Phoenix indicate that CME Bitcoin Futures contribute more to price discovery than its related spot markets,” said an Oct. 14 report from Wilshire Phoenix, adding:“A leading futures market suggests the existence of a robust....
Phoenix Global quickly became the 52nd largest cryptocurrency by market cap. It took just four minutes for a relatively unknown cryptocurrency to rise by over 5,600% as of Nov. 5, according to data from CoinMarketCap.Dubbed Phoenix Global (PHB), the token soared from $0.02057 to as high as $1.1413 on Nov. 5, with its volume dropping surprisingly — from $3.79 million to around $777,680 in the same period.Phoenix Global (PHB) price action in the last 24 hours. Source: CoinMarketCapNonetheless, at the core of the massive PHB pump was a token migration and a technical glitch, which....
The Invesco Bitcoin Strategy ETF may “at times” invest in Bitcoin ETFs listed outside of the United States. Atlanta-based investment company Invesco is planning to launch a new Bitcoin (BTC) exchange-traded fund, or ETF, that will not invest in BTC directly.On Wednesday, Invesco filed an application with the United States Securities and Exchange Commission (SEC) to list a new investment product called Bitcoin Strategy ETF.The Invesco Bitcoin Strategy ETF seeks to achieve its investment objective by investing “all or substantially all of its assets” in Bitcoin futures and exchange-traded....
This article first appeared at Bitcoin Not Bombs. I had the opportunity to sit down with Cody Wilson, the creator of the world's first 3D printed gun and founder of Defense Distributed, at the Freedom Summit in Phoenix, AZ. We were both there to give talks on Bitcoin and the event was put on by radio host Ernest Hancock of Freedom's Phoenix and Declare Your Independence. In this interview we discuss philosophy, decentralized resistance, Dark Wallet, Defense Distributed, and the role of humor in activism. I really enjoyed talking with Cody, who is fascinating and frank in this interview,....