Latest news with #Bitwise
Business Wire
3 days ago
- Business
- Business Wire
Net Asset Value Restatement for Bitwise COIN Option Income Strategy ETF
SAN FRANCISCO--(BUSINESS WIRE)--Bitwise today announced that the net asset value ('NAV') for the Bitwise COIN Option Income Strategy ETF (Ticker: ICOI) was restated as shown below. The NAV restatement is a result of an error in calculating the NAV for this ETF: Risks and Important Information Carefully consider the investment objectives, risk factors, charges, and expenses of the Bitwise COIN Option Income Strategy ETF (ICOI) (the 'Fund' ) before investing. This and additional information can be found in the Fund's full or summary prospectus, which may be obtained by visiting Investors should read it carefully before investing. An investment in the Fund is not an investment in the underlying security. The Funds do not directly invest directly in shares of COIN. Fund shareholders are not entitled to any dividends from the underlying security. The Fund's strategy is subject to all potential losses if shares of the underlying security decrease in value, which may not be offset by income received by the Fund. Market Risk. Market risk is the risk that a particular security, or Fund Shares in general, may fall in value. Securities are subject to market fluctuations caused by such factors as economic, political, regulatory or market developments, changes in interest rates and perceived trends in securities prices. Covered Call Strategy Risk. A covered call strategy involves writing (selling) covered call options in return for the receipt of premiums. The seller of the option gives up the opportunity to benefit from price increases in the underlying instrument above the exercise price of the options but continues to bear the risk of underlying instrument price declines. The premiums received from the options may not be sufficient to offset any losses sustained from underlying instrument price declines over time. The covered call strategy utilized by the Fund is 'synthetic' because the Fund's exposure to the price return of the underlying security is derived through options exposure, rather than direct holdings of the shares of the underlying security. Because such exposure is synthetic, it is possible that the Fund's participation in the price return of the underlying security may not be as precise as if the Fund were directly holding shares of the underlying security. Issuer-Specific Risks. Issuer-specific attributes may cause an investment held by the Fund to be more volatile than the market generally. The value of an individual security or particular type of security may be more volatile than the market as a whole and may perform differently from the value of the market as a whole. Equity Securities Risk. Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. Digital Assets Risk. Coinbase (the 'Company') may have substantial holdings of bitcoin and other digital assets. Accordingly, it is subject to the risks associated with such holdings. Bitcoin is a relatively new innovation and the market for bitcoin is subject to rapid price swings, changes and uncertainty. Bitcoin is subject to the risk of fraud, theft, manipulation or security failures, operational or other problems that impact the digital asset trading venues on which bitcoin trades. The realization of any of these risks could result in a decline in the acceptance of bitcoin and consequently a reduction in the value of bitcoin and shares of COIN. Custody Risk. Security breaches, computer malware and computer hacking attacks have been a prevalent concern in relation to digital assets. The bitcoin held by the Company will likely be an appealing target to hackers or malware distributors seeking to destroy, damage or steal bitcoins. To the extent that the Company is unable to identify and mitigate or stop new security threats or otherwise adapt to technological changes in the digital asset industry, the Company's bitcoins may be subject to theft, loss, destruction or other attack. Digital Asset Regulatory Risk. There is a lack of consensus regarding the regulation of digital assets, including bitcoin, and their markets. Ongoing and future regulatory actions with respect to digital assets generally or bitcoin in particular may alter, perhaps to a materially adverse extent, the nature of an investment in the shares of the underlying security or the ability of the Company to continue to operate. Concentration Risk. The Fund is susceptible to an increased risk of loss, including losses due to adverse events that affect the Fund's investments more than the market as a whole, to the extent that the Fund's investments are concentrated in investments that provide exposure to the underlying securities and the industry to which they are assigned. Derivatives Risk. The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Trading derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities. The use of leverage may cause the Fund to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations or to meet regulatory or contractual requirements for derivatives. The use of derivatives can magnify potential for gain or loss and, therefore, amplify the effects of market volatility on share price. New Fund Risk. The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision. Options Risk. The use of options involves investment strategies and risks different from those associated with ordinary portfolio securities transactions and depends on the ability of the Fund's portfolio managers to forecast market movements correctly. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, or in interest or currency exchange rates, including the anticipated volatility, which in turn are affected by fiscal and monetary policies and by national and international political and economic events. Nondiversification Risk. The Funds are nondiversified and may hold a smaller number of portfolio securities than many other products. To the extent any Fund invests in a relatively small number of issuers, a decline in the market value of a particular security held by the Fund may affect its value more than if it invested in a larger number of issuers. ICOI is distributed by Foreside Fund Services, LLC, which is not affiliated with Bitwise or any of its affiliates.
Yahoo
3 days ago
- Business
- Yahoo
Spot DOGE ETF Appears Nearer as Bitwise Amends Filing
A spot dogecoin ETF DOGE may be coming closer to reality. ETF issuer Bitwise updated a regulatory filing for its dogecoin ETF on Thursday, suggesting approval chances could be growing, according to one expert. 'Bitwise has filed amended S-1s for their spot dogecoin ETF and their spot aptos ETFs," wrote Bloomberg Intelligence's Eric Balchunas. "Good signs as it indicates SEC engagement, and tracks with other spot approvals." Also noteworthy is the fact that the dogecoin ETF filing was amended to include in-kind redemptions and creations, meaning that the broker-dealers interacting with the ETF can directly trade shares for DOGE tokens, or vice versa. "Near-lock at this point that in kind will be allowed in spot ETFs across board," Balchunas added. As of right now, all U.S.-based crypto ETFs must swap their tokens for cash, then swap that cash for shares (or swap the shares for cash, then the cash for tokens), which creates a tax event. The news isn't helping prices much, with DOGE lower by about 2% over the past 24 hours to $0.16. 21Shares has also filed for a dogecoin ETF, while Grayscale has filed for a dogecoin trust with a 2.5% fee. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
4 days ago
- Business
- Yahoo
Bitcoin's Bull Case Strengthens as Dollar Index Slides, Nvidia Hits Record High Amid Recession Cues
Bitcoin's BTC price has rebounded nearly 10% from weekend lows, with key developments in traditional markets supporting the case for continued gains ahead. The dollar index, which tracks the value of the greenback against major fiat currencies, dropped to 97.27 early Thursday, the lowest level since February 2022, according to data source TradingView. The decline follows growing calls for a July Fed rate cut and disappointing data on housing and consumer confidence. The weakening of the dollar, a global reserve currency, tends to ease financial conditions, galvanizing increased risk-taking in financial markets. "DXY [is] now at the lowest level since March 2022. Very bullish implications for global money supply growth and bitcoin," Andre Dragosch, director, head of research - Europe at Bitwise, said on X. Meanwhile, shares in Nvidia (NVDA), a bellwether for all things AI and emerging technologies, rose 4%.33% Wednesday, hitting a record high of $154.30. Both NVDA and BTC bottomed out in late 2022 and have been in an uptrend ever since. As of the time of writing, the 90-day correlation coefficient between NVDA and BTC was 0.80, indicating a strong positive relationship between the two assets. NVDA's record high came a day after the Nasdaq futures formed a bullish golden cross, signaling a continued risk-on rally. The yield on the U.S. two-year note, which is more sensitive to interest rate expectations, dropped to 3.76% early today, the lowest since May 2. The yield has declined by 24 basis points this month. Meanwhile, the 10-year yield has declined by 16 basis points to 4.27%. As such, the spread between the 10- and two-year yields has widened in a move known as the steepening of the yield curve. Historically, recessions have begun with the two-year yield falling alongside a steepening of the yield curve, as noted by wealth advisor Kurt S. Altrichter on X. "We're not there yet, but we're dancing on the edge. The 10Y-2Y spread is bull-steepening. If the 2Y breaks lower, it signals the Fed has lost control. That's your cue. Watch it closely," Altrichter said. Consumer confidence dropped last month to a reading of 93, registering a 5.4-point decline from May, with Republican party respondents leading the decline, according to data released by the Conference Board on Tuesday. More importantly, the expectations index, which represents the short-term outlook, slipped to 69, well below the 80 threshold that typically signals an impending recession. These developments, coupled with the oil price slide and the talk of a July rate cut by some Fed officials, have likely prompted traders to price in an early rate cut by the Fed. According to the CME's FedWatch tool. According to Bloomberg, interest rate swaps are now pricing around four basis points of easing into the July Fed meeting, up from near zero a week ago. Furthermore, traders anticipate a combined 60 basis points of easing over the remaining four meetings this year, up from 45 basis points a week in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-06-2025
- Business
- Yahoo
Dollar Confidence Is Waning, Bitwise CIO Warns—Is Bitcoin The New Safe Bet?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Confidence in the dollar and the fiat system, in general, is breaking down, and central banks are turning to gold while individuals are turning to Bitcoin, according to Bitwise investment chief Matt Hougan. Hougan said in a June 17 note that 54 years after the U.S. left the gold standard, the world is waking up to the reality that the fiat system may not make sense. 'Maybe printing money out of thin air, as we started to do in 1971, is actually a wild idea,' he said. "Maybe sound money requires limits. Put differently, people are starting to look around and ask: What the hell is fiat?' Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Hougan cites a recent Financial Times report, which said that gold was once again becoming the anchor of the global economy as people questioned the core assumptions of the present system. Central banks have been rapidly accumulating gold in recent years, with spikes following the 2008 financial crisis and Russia's invasion of Ukraine in 2022. Amid this buying spree last year, gold surpassed the euro as the second most widely held reserve asset by central banks, behind only the dollar. Hougan said the flight back to gold came as governments started abusing fiat and accelerated after they began seizing it. He said the desire by central bankers to hedge their bets has only grown with the increasing temptation for the U.S. to devalue its way out of its ballooning $37 trillion debt. He notes that they are turning to gold because it is scarce, global, resistant to manipulation and non-sovereign. These characteristics, he points out, also apply to Bitcoin, which he says has become the alternative for individual investors. He cites the large capital inflows into Bitcoin exchange-traded funds since they started trading in January 2024 compared to gold. Trending: New to crypto? on Coinbase. Bitcoin ETFs have attracted $45 billion in net inflows. By comparison, gold ETFs have attracted only $34 billion. 'I see these as two sides of the same trade,' he said, comparing the flight of central banks to gold and the individuals to Bitcoin. Hougan said the main reason central banks still preferred gold boiled down to market size. At $2 trillion, Hougan said the Bitcoin market did not yet have the liquidity to support the entry and exit of central bankers at scale. But he said this might be changing as government demand grows. To be sure, several countries have started considering Bitcoin reserves following President Donald Trump's move in March to establish a U.S. reserve from seized assets. According to Hougan, whether it is gold or Bitcoin, the message is clear: investors are rethinking their portfolios to hedge against fiat risks. 'For the last forty years, we've been taught to diversify our portfolios by combining stocks and bonds,' he said. 'But no matter how you calibrate that—60% stocks and 40% bonds, or 70/30, whatever—you are still 100% exposed to fiat currency. People are realizing that those are rather risky waters to be swimming in.' Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article Dollar Confidence Is Waning, Bitwise CIO Warns—Is Bitcoin The New Safe Bet? originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Bitwise CEO Says Lots Of Bitcoin Demand Is Coming In Q3. Here's Why:
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitwise CEO Hunter Horsley has hinted at sustained bullish momentum for Bitcoin in the coming months. Horsley said last week on X that 'a lot of demand' is coming for Bitcoin in Q3. He cited yet-to-be-completed merger and financing deals by impending Bitcoin treasury firms have been the major drivers of Bitcoin buying pressure and price action this year. 'There's a lot of Bitcoin Treasury Companies that have announced— but haven't yet closed, and thus bought the bitcoin,' he said. 'There's a lot of demand coming in Q3.' Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Among companies that have revealed Bitcoin treasury plans but have not closed deals are Twenty One Capital and Strive Asset Management. In April, Twenty One was announced as a new Bitcoin treasury company to be formed through Cantor Fitzgerald's Cantor Equity Partners (NASDAQ:CEP), a special purpose acquisition company. The new venture is to be partly owned by cryptocurrency exchange Bitfinex, its subsidiary Tether and Japanese investment bank SoftBank. Twenty One said it planned to launch with 42,000 BTC at the completion of its deal. So far, it has received only 37,000 BTC worth $4 billion from Tether. Strive in May also announced plans to become a publicly traded Bitcoin treasury company by merging with Asset Entities (NASDAQ:ASST). While the company has yet to close this merger, it later said that it raised $750 million to fund its first round of Bitcoin purchases. Beyond Twenty One Capital and Strive, Trump Media & Technology Group (NASDAQ:DJT) recently received the Securities and Exchange Commission's greenlight to kick off its Bitcoin treasury strategy, unlocking $2.3 billion in capital it had raised from 50 institutional investors to buy Bitcoin. Trending: New to crypto? on Coinbase. While new Bitcoin treasury companies work towards making purchases, incumbents are not slowing down. MicroStrategy (NASDAQ:MSTR) on Monday announced the purchase of 10,100 BTC for over $1 billion. Metaplanet also announced the purchase of 1,112 BTC for approximately $117 million, bringing its total stash to 10,000 BTC. Bitwise in December predicted that Bitcoin would trade as high as $200,000 in 2025. Last week, Horsley said once Bitcoin trades within the $130,000 to $150,000 price range, no one will sell the asset again. He said borrowing against asset holdings will become the order of the day. 'From there on, when people need liquidity, they are going to borrow from an ever growing set of lenders,' he said. 'All of which will further propel price. There's simply not going to be enough Bitcoin.' At last look, the asset is trading near $107,400, holding steady despite rising tensions between Iran and Israel in the past few days. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article Bitwise CEO Says Lots Of Bitcoin Demand Is Coming In Q3. Here's Why: originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
