Kraken’s subsidiary, CF Benchmarks, is in talks with
50 firms seeking its services for spot Bitcoin ETF pricing. This development
follows the recent approval of 11spot Bitcoin ETF applications by the US
Securities and Exchange Commission (SEC).
According to a report by the Financial News, CF
Benchmarks is providing data to major players like BlackRock and Franklin
Templeton. Currently, six out of the 11 approved spot bitcoin ETF providers
leverage CF Benchmarks’ index to track pricing data from various exchange
venues that meet stringent criteria.
While roughly half of the firms in talks with CF
Benchmarks are from the US, the increasing interest from Europe and Asia
signals a global shift as regulatory developments in the US prompt a ripple
effect worldwide.
As the regulatory landscape evolves, asset managers
and banks are at the forefront of the wave, exploring spot bitcoin ETF pricing
to capitalize on the growing crypto market.
The recent green light from the SEC has set off a
frenzy among investors. On January 11 and 12, trading volumes for spot bitcoin
ETFs soared to $7.7 billion, reflecting a remarkable start for this financial
instrument. CF Benchmarks’ CEO, Sui Chung, as quoted by the Financial News, has
acknowledged the initial success but emphasizes the need for realistic
expectations.
Chung foresees a gradual rise in inflows as more
distribution channels open up in the coming months and years. He has revealed a
strategic expansion, with the team set to grow by approximately 50%. The
expansion will span technology, index designing, and product management,
reflecting CF Benchmarks’ dedication to maintaining its position as a
frontrunner in spot Bitcoin ETF pricing.
Expect ongoing updates as this story evolves.
Kraken’s subsidiary, CF Benchmarks, is in talks with
50 firms seeking its services for spot Bitcoin ETF pricing. This development
follows the recent approval of 11spot Bitcoin ETF applications by the US
Securities and Exchange Commission (SEC).
According to a report by the Financial News, CF
Benchmarks is providing data to major players like BlackRock and Franklin
Templeton. Currently, six out of the 11 approved spot bitcoin ETF providers
leverage CF Benchmarks’ index to track pricing data from various exchange
venues that meet stringent criteria.
While roughly half of the firms in talks with CF
Benchmarks are from the US, the increasing interest from Europe and Asia
signals a global shift as regulatory developments in the US prompt a ripple
effect worldwide.
As the regulatory landscape evolves, asset managers
and banks are at the forefront of the wave, exploring spot bitcoin ETF pricing
to capitalize on the growing crypto market.
The recent green light from the SEC has set off a
frenzy among investors. On January 11 and 12, trading volumes for spot bitcoin
ETFs soared to $7.7 billion, reflecting a remarkable start for this financial
instrument. CF Benchmarks’ CEO, Sui Chung, as quoted by the Financial News, has
acknowledged the initial success but emphasizes the need for realistic
expectations.
Chung foresees a gradual rise in inflows as more
distribution channels open up in the coming months and years. He has revealed a
strategic expansion, with the team set to grow by approximately 50%. The
expansion will span technology, index designing, and product management,
reflecting CF Benchmarks’ dedication to maintaining its position as a
frontrunner in spot Bitcoin ETF pricing.
Expect ongoing updates as this story evolves.