Grayscale: Cash Bitcoin Spot ETF has no tax disadvantage on redemptions
Grayscale stated in its official blog that unlike mutual funds and many other ETFs, spot commodity ETFs (for example, gold) belong to the grantor trust. The tax regime for grantor trusts differs from that of mutual funds, where capital gains or losses may affect the remaining shareholders in the fund. Any Bitcoin spot ETF that qualifies as a grantor trust will not be at a tax disadvantage on redemptions due to changes in the book value of the ETF assets.
Grayscale: Cash Bitcoin Spot ETF has no tax disadvantage on redemptions
Grayscale stated in its official blog that unlike mutual funds and many other ETFs, spot commodity ETFs (for example, gold) belong to the grantor trust. The tax regime for grantor trusts differs from that of mutual funds, where capital gains or losses may affect the remaining shareholders in the fund. Any Bitcoin spot ETF that qualifies as a grantor trust will not be at a tax disadvantage on redemptions due to changes in the book value of the ETF assets.
Qredo closed its hybrid exchange Ankex due to financial difficulties, and the exchange’s CEO resigned
Crypto infrastructure startup Qredo’s cash shortage has forced it to shut down its hybrid exchange project Ankex, which launched in beta just a few months ago. Last November, Qredo incubated and launched Ankex, which is billed as a hybrid derivatives exchange that combines centralized and decentralized features. Former Genesis Global Capital CEO Michael Moro was hired in April to run Ankex. According to people familiar with the matter, the Ankex platform was recently shut down due to Qredo&ap...
Qredo closed its hybrid exchange Ankex due to financial difficulties, and the exchange’s CEO resigned
Crypto infrastructure startup Qredo’s cash shortage has forced it to shut down its hybrid exchange project Ankex, which launched in beta just a few months ago. Last November, Qredo incubated and launched Ankex, which is billed as a hybrid derivatives exchange that combines centralized and decentralized features. Former Genesis Global Capital CEO Michael Moro was hired in April to run Ankex. According to people familiar with the matter, the Ankex platform was recently shut down due to Qredo&ap...
First Trust files Bitcoin “buffer” ETF application with U.S. SEC
Bloomberg analyst James Seyffart tweeted that First Trust submitted a Bitcoin "buffer ETF" application to the U.S. SEC. Such funds provide a degree of downside risk protection by sacrificing some upside gains. Analysts said they expect other companies entering the space to offer Bitcoin exposure in the coming weeks using unique and differentiated strategies.
First Trust files Bitcoin “buffer” ETF application with U.S. SEC
Bloomberg analyst James Seyffart tweeted that First Trust submitted a Bitcoin "buffer ETF" application to the U.S. SEC. Such funds provide a degree of downside risk protection by sacrificing some upside gains. Analysts said they expect other companies entering the space to offer Bitcoin exposure in the coming weeks using unique and differentiated strategies.
Aava founder: Aava Interface is not affected yet. Do not use dApp until Ledger clarifies
Stani, the founder of Aava, stated on the X platform regarding the warning issued by Sushi CTO that the Interface on Aava has not been affected yet and all funds are safe. Until further clarification from Ledger, stay away from the dApp for now. According to previous news, a code library commonly used by Web3 projects (LedgerHQ’s connect-kit) has been attacked, allowing the injection of malicious code that affects many dApps. Users are requested to never interact with any dApp.
Aava founder: Aava Interface is not affected yet. Do not use dApp until Ledger clarifies
Stani, the founder of Aava, stated on the X platform regarding the warning issued by Sushi CTO that the Interface on Aava has not been affected yet and all funds are safe. Until further clarification from Ledger, stay away from the dApp for now. According to previous news, a code library commonly used by Web3 projects (LedgerHQ’s connect-kit) has been attacked, allowing the injection of malicious code that affects many dApps. Users are requested to never interact with any dApp.
Invesco and Galaxy have filed third revised Bitcoin spot ETF prospectus with the SEC
According to public regulatory documents, Invesco and Galaxy have submitted the third revised Bitcoin spot ETF prospectus (S-1 document) to the U.S. SEC. Bloomberg ETF analyst Eric Balchunas said that according to the just-updated S-1, Invesco committed to using only cash to create the ETF. There are considerable clues that the SEC will only approve ETFs created using cash in the first round (this is what we have heard privately as well). Still, many are waiting to see if BlackRock can convin...
Invesco and Galaxy have filed third revised Bitcoin spot ETF prospectus with the SEC
According to public regulatory documents, Invesco and Galaxy have submitted the third revised Bitcoin spot ETF prospectus (S-1 document) to the U.S. SEC. Bloomberg ETF analyst Eric Balchunas said that according to the just-updated S-1, Invesco committed to using only cash to create the ETF. There are considerable clues that the SEC will only approve ETFs created using cash in the first round (this is what we have heard privately as well). Still, many are waiting to see if BlackRock can convin...
