First Trust Submits Application for Bitcoin 'Buffered' ETF to US SEC
Bloomberg ETF analyst James Seyffart stated that First Trust has submitted an application for a Bitcoin "Buffer" ETF to the U.S. Securities and Exchange Commission (SEC). This type of fund can protect against a certain percentage of downside losses, but at the same time, upside gains are limited. It is expected that other entrants in this field will adopt unique differentiation strategies to provide Bitcoin exposure in the coming weeks.
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Deutsche Bank: After the three major central banks hiked rates simultaneously, the market may once again underestimate the terminal interest rate
Deutsche Bank points out that as central banks in the US, Europe, and Japan are tightening policy simultaneously, the market may still be underpricing the eventual terminal rates. With oil prices remaining high, inflation may spill over into core inflation and wages. Moreover, financial conditions have not tightened in tandem, which could weaken the effect of rate hikes. Citing the experience of 2022, Deutsche Bank notes that the market then expected a total of around 200 basis points of Fed rate hikes in the first year, but the final figure exceeded 400 basis points, illustrating that the market often underestimates the terminal rate.
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