Grayscale Investments has partnered with FTSE Russell to unveil five indicators for the cryptocurrency sector. The move follows a recent federal appeals court ruling that revived hopes for approval of Grayscale’s Bitcoin exchange-traded fund (ETF), which was initially rejected by the U.S. Securities and Exchange Commission (SEC).
The suite of cryptocurrency indices, called the FTSE-Grayscale Indices, tracks the performance of crypto assets across five distinct categories: currencies, smart contract platforms, financial services, consumer and culture, and utilities and services, according to a report by Reuters.
This diversification move addresses the growing demand by investors to explore beyond the most prominent cryptocurrencies, such as Bitcoin and Ethereum. Michael Sonnenshein, CEO of Grayscale, said that investors are increasingly looking for ways to diversify their portfolios within the cryptocurrency market.
In conjunction, we are introducing a new partnership with @FTSERussell And the debut of the FTSE Grayscale Crypto Sector Index Series (“Crypto Sector Indices”), a set of 5 distinct rules-based indices that capture the investable cryptocurrency market in the grayscale cryptocurrency sectors.
(3/11) pic.twitter.com/SyH1zFU70h– Grayscale (@grayscale) October 24, 2023
In August, a federal appeals court issued a decision contradicting the SEC’s denial of Grayscale’s Bitcoin exchange-traded fund application. This action brought optimism to the cryptocurrency markets. Although the ruling did not guarantee immediate approval for the ETF, it renewed interest in securing a place Bitcoin
Bitcoin
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to these revolutionary decentralized digital assets, nor to their blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanicz made the first official BTC trading transaction with a real company by trading 10,000 BTC for 2 pizzas at his local Papa John’s. Now one could argue with that
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to these revolutionary decentralized digital assets, nor to their blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanicz made the first official BTC trading transaction with a real company by trading 10,000 BTC for 2 pizzas at his local Papa John’s. Now one could argue with that
Read this term ETF among asset management companies.
It is worth noting that industry giants such as BlackRock and Invesco have applied for similar investment products, indicating the growing acceptance of Digital currencies
Digital currencies
Using cryptography, virtual currencies, known as cryptocurrencies, are virtually counterfeit-proof digital currencies built on blockchain technology. Blockchain technology consists of decentralized networks, not subject to the supervision of a central authority. Therefore, cryptocurrencies operate by a decentralized nature which makes them theoretically immune to government interference. The term cryptocurrency is derived from the origin of cryptographic techniques used to secure the network.
Using cryptography, virtual currencies, known as cryptocurrencies, are virtually counterfeit-proof digital currencies built on blockchain technology. Blockchain technology consists of decentralized networks, not subject to the supervision of a central authority. Therefore, cryptocurrencies operate by a decentralized nature which makes them theoretically immune to government interference. The term cryptocurrency is derived from the origin of cryptographic techniques used to secure the network.
Read this term In the traditional financial sector.
The Securities and Exchange Commission faces a crucial decision regarding a Bitcoin exchange-traded fund
After the court’s ruling, the SEC chose not to appeal the case. With that legal chapter now over, it is up to the regulator to decide whether to approve or deny Grayscale’s application.
A proposed spot Bitcoin ETF would enable investors to invest in Bitcoin without having to own the actual cryptocurrency. The SEC previously rejected all applications for spot bitcoin ETFs, citing concerns about protecting investors from potential market manipulation.
The cryptocurrency industry has long been waiting for the approval of a spot Bitcoin ETF in the US. Despite numerous applications to the SEC in recent years, concerns about fraud and market manipulation have consistently led to denials.
Grayscale Investments has partnered with FTSE Russell to unveil five indicators for the cryptocurrency sector. The move follows a recent federal appeals court ruling that revived hopes for approval of Grayscale’s Bitcoin exchange-traded fund (ETF), which was initially rejected by the U.S. Securities and Exchange Commission (SEC).
The suite of cryptocurrency indices, called the FTSE-Grayscale Indices, tracks the performance of crypto assets across five distinct categories: currencies, smart contract platforms, financial services, consumer and culture, and utilities and services, according to a report by Reuters.
This diversification move addresses the growing demand by investors to explore beyond the most prominent cryptocurrencies, such as Bitcoin and Ethereum. Michael Sonnenshein, CEO of Grayscale, said that investors are increasingly looking for ways to diversify their portfolios within the cryptocurrency market.
In conjunction, we are introducing a new partnership with @FTSERussell And the debut of the FTSE Grayscale Crypto Sector Index Series (“Crypto Sector Indices”), a set of 5 distinct rules-based indices that capture the investable cryptocurrency market in the grayscale cryptocurrency sectors.
(3/11) pic.twitter.com/SyH1zFU70h– Grayscale (@grayscale) October 24, 2023
In August, a federal appeals court issued a decision contradicting the SEC’s denial of Grayscale’s Bitcoin exchange-traded fund application. This action brought optimism to the cryptocurrency markets. Although the ruling did not guarantee immediate approval for the ETF, it renewed interest in securing a place Bitcoin
Bitcoin
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to these revolutionary decentralized digital assets, nor to their blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanicz made the first official BTC trading transaction with a real company by trading 10,000 BTC for 2 pizzas at his local Papa John’s. Now one could argue with that
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to these revolutionary decentralized digital assets, nor to their blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hanicz made the first official BTC trading transaction with a real company by trading 10,000 BTC for 2 pizzas at his local Papa John’s. Now one could argue with that
Read this term ETF among asset management companies.
It is worth noting that industry giants such as BlackRock and Invesco have applied for similar investment products, indicating the growing acceptance of Digital currencies
Digital currencies
Using cryptography, virtual currencies, known as cryptocurrencies, are virtually counterfeit-proof digital currencies built on blockchain technology. Blockchain technology consists of decentralized networks, not subject to the supervision of a central authority. Therefore, cryptocurrencies operate by a decentralized nature which makes them theoretically immune to government interference. The term cryptocurrency is derived from the origin of cryptographic techniques used to secure the network.
Using cryptography, virtual currencies, known as cryptocurrencies, are virtually counterfeit-proof digital currencies built on blockchain technology. Blockchain technology consists of decentralized networks, not subject to the supervision of a central authority. Therefore, cryptocurrencies operate by a decentralized nature which makes them theoretically immune to government interference. The term cryptocurrency is derived from the origin of cryptographic techniques used to secure the network.
Read this term In the traditional financial sector.
The Securities and Exchange Commission faces a crucial decision regarding a Bitcoin exchange-traded fund
After the court’s ruling, the SEC chose not to appeal the case. With that legal chapter now over, it is up to the regulator to decide whether to approve or deny Grayscale’s application.
A proposed spot Bitcoin ETF would enable investors to invest in Bitcoin without having to own the actual cryptocurrency. The SEC previously rejected all applications for spot bitcoin ETFs, citing concerns about protecting investors from potential market manipulation.
The cryptocurrency industry has long been waiting for the approval of a spot Bitcoin ETF in the US. Despite numerous applications to the SEC in recent years, concerns about fraud and market manipulation have consistently led to denials.