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...The broker, Anwar Sioufi of Exmoor Partners, that year had run off with 200 bitcoin — then £1mn — that Wen had sent to him in July for conversion for the house deposit, the juries in Wen’s criminal trial...
...require the payment of a minimum transaction fee for all transactions....
...The rally following the SEC’s long-awaited spot bitcoin ETF approval has been so positive that the net assets in Grayscale’s ETF have nearly recovered since its conversion, which allowed long-term holders...
...“You just feel good when you’re in them. That’s part of the allure.”...
...The firms have stepped up marketing and are engaged in a fierce fee war, as every spot bitcoin ETF issuer except Grayscale, which charges a fee of 1.5 per cent, has either waived or slashed fees as the fledgling...
...“Some investors are exiting positions after buying bitcoin a long time ago, so they’re in the money.”...
..., have been taking full profit post ETF conversion by exiting the bitcoin space entirely rather than shifting to cheaper spot bitcoin ETFs....
...Miners are also hoping for increased activity on the bitcoin network to boost transaction fee revenue, driven by developments such as trading non-fungible tokens....
...So the idea is that if you’re an investor and you’re trying to leave one of these funds, you’ll have to pay a fee....
...WisdomTree Europe head Alexis Marinof said the launch of spot bitcoin ETFs in the US had “captured a lot of attention in Europe”....
...“We’re not digital currency experts.”...
...of fund before Securities and Exchange Commission rules come into effect in early October, imposing a mandatory fee on large redemptions....
...“We’re opening the doors to Wall Street.” The decision also marks a U-turn by the SEC....
...“We’re ready to fight,” it said....
...Invesco’s trust formed with Galaxy Digital, meanwhile, has set its expense ratio at 0.59 per cent, though the fee will be waived for six months on the first $5bn in assets....
...The deal included an investment of $24bn of fresh money in addition to the conversion of $11bn of UAE deposits in the central bank to local currency to be used in projects in Egypt....
...But analysts said its conversion last week offered investors an opportunity to exit their holdings....
...Grayscale is sticking with its fee plan for now, even though it lowered its annual management charge to a 1.5 per cent fee, from 2 per cent, in the run-up to launch....
...This week we’re taking a look at the mining business. We know that mining bitcoin comes at a cost. The US is now keen to discover exactly who loses out....
...“With a bitcoin spot ETF, we’re opening the doors to Wall Street,” said Jad Comair, chief executive of Melanion Capital....
...The asset manager converted its long-standing bitcoin trust into an ETF in January, but the product carries a much higher management fee than its competitors....
...Hashdex, a Brazilian fund manager, had aimed to convert an existing futures product into a spot bitcoin ETF but was unable to do so on Thursday as the SEC continued to review the paperwork for its conversion...
...In particular, the government has sought to bring stablecoins — a type of digital token designed to track the price of hard currencies — into the economy as a payment option for the public....
...“We’re running a survey so we can use the data in a presentation deck to institutions about changing consumer perceptions of crypto,” says the person with the Deutsche Bank clipboard....
...Once the conversions go through, the Total Return Bond ETF plans to charge a unitary fee of 32 basis points....
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