Bitcoin spot market is still a little ‘weird,’ ProShares strategist says
时间:2024-06-26 06:07:52 阅读(143)
The Bitcoin spot market still has deficiencies, including price discrepancy across exchanges and platform risks, according to Simeon Hyman, a global investment strategist at ProShares. On Bloomberg TV on Wednesday, Hyman said there are multiple prices for Bitcoin, while futures in the cryptocurrency rely on a combination of prices for settlement everyday. Hyman also cast doubt on how cash creation and redemptions will function in practice.
In that process, broker-dealers exchange cash — as opposed to the underlying security — with the issuer, who then shoulders the responsibility of buying and selling Bitcoin. ETFs typically employ the in-kind mechanism, in which broker-dealers deliver the asset itself to issuers and receive shares of the ETF in return.
In the past, US SEC chair Gary Gensler has voiced concerns about the potential for fraud and manipulation in crypto markets. These factors could impact the regulators as it deliberates whether to approve a spot Bitcoin exchange-traded fund. Bitcoin fell 5.6% Wednesday to $42,283, reversing course ahead of an upcoming Jan. 10 deadline that could see the US SEC approve the first exchange-traded fund tied directly to the asset’s spot price.
Follow us onTwitter,Facebook,LinkedIn
猜你喜欢
- Markets Wrap – Tue, 14 Mar ‘23- Nifty, Sensex fall, rupee depreciates; Asia, US markets, Gold, Crude updates
- Mcap of 7 of top 10 firms swells Rs 1
- Share Market Highlights- Sensex crashes 1400 pts, Nifty ends near 15800; ICICI Bank, Infosys top draggers
- AMFI reshuffle elevates Jio Financial to large-cap, Tata Tech enters mid-cap category
- Microsoft overtakes Apple as world’s most valuable company
- Markets Wrap – Wed, 18 Jan ‘23- Stocks surge, rupee gains; Asia, Europe markets, Gold, Crude, Crypto updates
- App Review- Never miss your medicines again
- AMFI should form ethics committee to check individual misconduct- Sebi chief Buch
- Share Market Highlights- Nifty settles above 17700, Sensex tanks 500 pts; Bank Nifty ends above 42250, IT index falls 5%