It's offered by a Canadian firm that’s a proving ground for crypto funds and other novelties. U.S. citizens can sometimes get in.
A bitcoin ETF holding coins, not futures. An exchange-traded fund that holds bank deposits. Things that look like shares of Amazon or Tesla but pay a dividend. A refundable lifetime annuity.
Somehow this outfit competes with the likes of BlackRock, Vanguard and Fidelity, each managing trillions of dollars. “This isn’t a winner-take-all business,” says Seif. “It’s the most fragmented business in the world.” How is it that Canada is years ahead of the U.S. in official tolerance of digital currencies? Seif spent a lot of time wooing the bureaucrats before dropping a registration statement in their laps. “Regulators are there to engage,” he says. “That can lead to more innovation.” Something else Canada has going for it, he says, is a welcoming attitude toward immigrants. Seif’s father, who has a Ph.D. in chemistry, is an Iranian expatriate.
Objective: Find niches. The bank-deposit ETF, currently yielding 5%, is a creative way to extract interest from institutions not in the habit of paying market rates on demand deposits. Seif’s variation on single-stock ETFs, available for Alphabet, Amazon, Apple, Berkshire Hathaway and Tesla, manufactures a payout for the yield-hungry by combining leverage with the sale of call options on some of the share holdings.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin price outlook: BlackRock ETF demand could fuel rally to $180,000Bitcoin could soar to $180,000 before the April 2024 halving as potential BlackRock ETF helps drive demand, Fundstrat says
Read more »
Bitcoin Network’s High Difficulty Levels Poised to Ease Amid Longer Block Intervals – Mining Bitcoin NewsStatistics show Bitcoin's difficulty is poised to decline by an estimated range of 3.9% to 4.04% come July 26, 2023.
Read more »
Innovative Heating Solutions: Bitcoin Miners Turning Heat Into Satoshis – Mining Bitcoin NewsWhile the clothes dryer serves to dry clean laundry, the bitcoin mining machine also compensates the owner in satoshis.
Read more »
Rare 2010 Bitcoin Block Reward Stirs After 13 Years of Dormancy – Bitcoin NewsSo far this year, a total of nine such block rewards from the 2010 era have been spent, resulting in the transfer of 450 bitcoin.
Read more »
Cathie Woods ARKK ETF has zero China exposure following tech crackdownCathie Wood's $9 billion flagship Ark fund cut all exposure to China after Beijing started cracking down on Jack Ma
Read more »