Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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“ Cyril Sabbagh, Head of ETF at Melanion Capital, added: “Holding our ETF is a better alternative than a straight investment in bitcoin, as it closely tracks its performance in a diversified basket, while eliminating the risks with which it is usually associated, like loss or piracy. Indeed, bitcoin’s main concerns for institutional investors are hack, theft, loss, storage, security or crime.”
This is exactly what Michael Saylor was saying to Peter Wall. MS predicts that in 2022, there will be up to 20 US listed miners with a total mcap of $40-50bn.
Yeah it's great news - the other two ETFs I mentioned have fund sizes of:
First Trust Indxx Innovative Transaction & Process UCITS ETF Acc = £83mil
https://www.justetf.com/uk/etf-profile.html?isin=IE00BF5DXP42#overview
Strategy of Invesco Elwood Global Blockchain UCITS ETF A = £709mil
https://www.justetf.com/uk/etf-profile.html?isin=IE00BGBN6P67#overview
So it's definitely positive, how positive depends on the takeup of the ETF - however given BTC may break higher shortly and NASDAQ *might* come soon the timing may be perfect to take some more Argo shares out of the supply when demand increases.
ArgoBull
One of the best bits.
“ The number of constituents in the index is capped at 30. Notable constituents currently include Argo Blockchain (9.2%), Marathon Patent Group (7.8%), Bitfarms (7.5%), Galaxy Digital (6.4%), Voyager Digital (6.0%), Riot Blockchain (5.4%), HIVE Blockchain Technologies (5.2%), Hut 8 Mining (4.5%), Bit Digital (4.3%) and Future FinTech (4.1%). (Index weights as of May month-end).”
Should be launched in the coming weeks apparently. Good news.
https://www.etfstrategy.com/melanion-capital-set-to-launch-bitcoin-tracking-ucits-etf-on-euronext-paris-38489/
Apparently there are two other blockchain ETF's in Europe, but neither holds Argo from what I can see.
"Meanwhile, there are currently two blockchain ETFs available on the European market. The largest is the Invesco Elwood Global Blockchain UCITS ETF (BCHN) which has $983m assets under management (AUM), while the First Trust Indxx Innovative Transaction & Process UCITS ETF (BLOK) has $117m AUM."
https://www.etfstream.com/news/melanion-capital-to-launch-bitcoin-equities-etf/
Invesco ETF does NOT hold Argo:
https://etf.invesco.com/gb/private/en/product/invesco-elwood-global-blockchain-ucits-etf-acc/index-components
The First Trust one doesn't either as far as I can tell:
https://www.justetf.com/uk/etf-profile.html?isin=IE00BF5DXP42
Trying to make sense of this.
The index that the ETF will be based off, appears to have a 9.1% weighting for Argo (at 31/05):
https://www.melanion.com/melanion-index
Another couple of articles:
https://blockchain.news/news/melanion-capital-launch-first-eu-regulated-bitcoin-tracking-etf
https://www.etfstream.com/news/melanion-capital-to-launch-bitcoin-equities-etf/
CaneToad
BUMP
“ UCITS Approved Fund - Contains RIOT and ARBToday 07:30
https://markets.businessinsider.com/news/currencies/bitcoin-crypto-europe-etf-mike-novogratz-galaxy-digital-voyager-riot-2021-08
As one of the first BTC-tracking funds in Europe with full approval, this is very significant for ARB. The article annoyingly doesn't mention ARB, but the referenced FT article does.”
Canetoad
“ https://markets.businessinsider.com/news/currencies/bitcoin-crypto-europe-etf-mike-novogratz-galaxy-digital-voyager-riot-2021-08
As one of the first BTC-tracking funds in Europe with full approval, this is very significant for ARB. The article annoyingly doesn't mention ARB, but the referenced FT article does.”
This is the kind of valuable post that gets lost under troll detritus.
This is only the FIRST crypto EFT to be set up.
Michael Saylor predicts that US funds will buy miners as a proxy for btc exposure. He sees US listings for around 20 miners with total mcap of $40-50bn.
Discuss.
https://markets.businessinsider.com/news/currencies/bitcoin-crypto-europe-etf-mike-novogratz-galaxy-digital-voyager-riot-2021-08
As one of the first BTC-tracking funds in Europe with full approval, this is very significant for ARB. The article annoyingly doesn't mention ARB, but the referenced FT article does.