New Crypto ETF Offers High Yield Weekly Returns

A finance expert from Bloomberg suggests that the digital asset, crypto, is likely to stay and recommends investing in Bitcoin USD. The expert regrets not investing heavily in it and suggests that companies are adopting crypto assets.

In a move to simplify cryptocurrency access for everyday users, EasyJet's parent company, the Easy Group, has launched easybitcoin.app, a mobile app powered by Uphold. The app aims to make bitcoin buying and earning more accessible by offering a 1% welcome bonus on the first $5,000 of recurring buys each month, 2% bitcoin rewards after three months of recurring purchases, and a 4.5% APY on USD balances paid out in bitcoin Easyjet Parent Company Launches Simplified Bitcoin Buying App^[1]. This initiative highlights a growing consumer confidence in bitcoin, with 88% of respondents in an Opinion Matters survey trusting it to grow wealth over the next decade.

Meanwhile, Grayscale has taken a significant step towards broadening crypto ETF offerings by filing new registration statements with the U.S. Securities and Exchange Commission (SEC) for three new cryptocurrency exchange-traded funds (ETFs). These include an S-1 filing for a Hedera (HBAR) ETF and separate S-3 filings for Litecoin (LTC) and Bitcoin Cash (BCH) ETFs Grayscale Files for Crypto ETFs Tracking Hedera, Litecoin, and Bitcoin Cash^[2]. This filing marks the first official Bitcoin Cash ETF with the SEC, providing U.S. investors with a regulated method to obtain exposure to Bitcoin Cash through a traditional stock market product. Grayscale has selected Bank of New York Mellon as the fund's administrator and Coinbase as the prime broker and custodian, mirroring the setup used in other Grayscale products.

These developments come amidst a broader trend among asset managers seeking more efficient ways to get crypto ETFs to market. Instead of waiting for separate approvals for each asset, they are counting on a single regulatory path that might make it easier for multiple crypto ETFs to list. This strategy is evident in Grayscale's reliance on the proposed Generic Listing Standards for its recent filings, similar to its Chainlink Trust filing.

The ETF landscape for crypto is also evolving. The SEC recently postponed its decision on Bitwise’s proposed Dogecoin ETF, citing the need for further time to consider the rule change. However, not all Dogecoin ETFs are dead. REX Shares and Osprey Funds plan to introduce the first-ever U.S. Dogecoin ETF under the 1940 Act on September 11.

Bloomberg ETF analyst Eric Balchunas commented on this, suggesting that the fund could signal the beginning of a new era for memecoin ETFs. He noted that this could be the first ETF in the U.S. to own an asset that has no practical use, underscoring the peculiarity of meme-based cryptocurrencies entering mainstream finance.

In conclusion, these moves indicate a continued push towards mainstream ETF offerings tied to a broader array of digital assets. While the waiting times for approval remain unclear, these filings signal an increasing institutional faith in the longevity of altcoins outside of Bitcoin and Ethereum.