Global #ETFs

On Wednesday, investors sold out U.S.-based spot bitcoin (BTC) exchange-traded funds (ETFs) at the fastest rate possible, despite Jerome Powell, the head of the Federal Reserve (Fed), discounting the likelihood of a rate hike.

Hong Kong issuers of exchange-traded funds are unconcerned about the US crackdown on cryptocurrencies leading regulators to label Ether ETH as a security.

As the Australian financial industry is ready to welcome a fresh wave of Bitcoin exchange-traded funds (ETFs), it is in position for a seismic shift. This announcement followed successful models in the US and, soon to be, Hong Kong.

Exchange-traded funds (ETFs) exposed to Bitcoin or other cryptocurrencies will not receive any collateral from the Depository Trust and Clearing Corporation (DTCC), a financial services provider that handles clearing and settlement for the financial markets.

In the early afternoon of East Asia's trading day, Bitcoin (BTC) is trading above $64,000 despite a notable increase in withdrawals from bitcoin exchange-traded funds (ETFs).

American economist and gold bug Peter Schiff has interpreted the fact that the majority of the assets in the cryptocurrency industry are losing money as a sign that Bitcoin (BTC) is headed for collapse, issuing a particularly grim warning to owners of spot BTC exchange-traded funds (ETFs).