Category: Cryptocurrency

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TORONTO, May 8, 2025 /CNW/ – Global X Investments Canada Inc. (“Global X”) is pleased to announce the distribution amounts per security (the “Distributions”) for its exchange traded funds (the “ETFs“), as indicated in the table below.

Distributions for the ETFs will vary from period to period. For further information regarding the Distributions, please visit www.GlobalX.ca.

About Global X Investments Canada Inc. (www.GlobalX.ca)

Global X Investments Canada Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Global X Fund family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Global X has more than $39 billion of assets under management and 142 ETFs listed on major Canadian stock exchanges. Global X is a wholly-owned subsidiary of the Mirae Asset Financial Group, which manages more than $900 billion of assets across 19 countries and global markets around the world.

Commissions, management fees, and expenses all may be associated with an investment in products (the “Global X Funds”) managed by Global X Investments Canada Inc. The Global X Funds are not guaranteed, their values change frequently, and past performance may not be repeated.  Certain Global X Funds may have exposure to leveraged investment techniques that magnify gains and losses which may result in greater volatility in value and could be subject to aggressive investment risk and price volatility risk. Such risks are described in the prospectus. The Global X Money Market Funds are not covered by the Canada Deposit Insurance Corporation, the Federal Deposit Insurance Corporation, or any other government deposit insurer. There can be no assurances that the money market fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the Funds will be returned to you. Past performance may not be repeated. The prospectus contains important detailed information about the Global X Funds. Please read the relevant prospectus before investing.

The payment of distributions, if any, is not guaranteed and may fluctuate at any time. The payment of distributions should not be confused with an exchange traded fund’s (“ETF”) performance, rate of return, or yield. If distributions paid by the ETF are greater than the performance of the ETF, distributions paid may include a return of capital and an investor’s original investment will decrease.  A return of capital is not taxable to the investor but will generally reduce the adjusted cost base of the securities held for tax purposes. Distributions are paid as a result of capital gains realized by an ETF, and income and dividends earned by an ETF are taxable to the investor in the year they are paid. The investor’s adjusted cost base will be reduced by the amount of any returns of capital. If the investor’s adjusted cost base goes below zero, investors will realize capital gains equal to the amount below zero. Future distribution dates may be amended at any time. To recognize that these distributions have been allocated to investors for tax purposes the amounts of these distributions should be added to the adjusted cost base of the units held. The characterization of distributions, if any, for tax purposes, (such as dividends/other income/capital gains, etc.) will not be known for certain until after the ETF’s tax year-end. Therefore, investors will be informed of the tax characterization after year-end and not with each distribution if any. For tax purposes, these amounts will be reported annually by brokers on official tax statements.  Please refer to the applicable ETF distribution policy in the prospectus for more information.

The Global X Bitcoin Covered Call ETF (BCCC) and the Global X Enhanced Bitcoin Covered Call ETF (BCCL) are each exchange traded alternative mutual funds that invest in other alternative mutual funds that invest, directly or indirectly, in Bitcoin. There are inherent risks associated with products linked to crypto assets, including Bitcoin Futures. While Bitcoin Futures are traded on a regulated exchange and cleared by regulated central counterparties, direct or indirect exposure to the high level of risk of Bitcoin Futures will not be suitable for all types of investors. Given the speculative nature of bitcoin and the volatility of the digital currency markets, there is no assurance that BCCC or BCCL will be able to meet their respective investment objectives. An investment in BCCC or BCCL is not intended as a complete investment program and is appropriate only for investors who have a sophisticated knowledge and understanding of Bitcoin and the capacity to absorb a loss of some or all of their investment. An investment in either BCCC or BCCL is considered high risk.

Certain statements may constitute a forward-looking statement, including those identified by the expression “expect” and similar expressions (including grammatical variations thereof). The forward-looking statements are not historical facts but reflect the author’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking statements. These forward-looking statements are made as of the date hereof and the authors do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase exchange traded products managed by Global X Investments Canada Inc. and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.

Global X Investments Canada Inc. (“Global X”) is a wholly owned subsidiary of Mirae Asset Global Investments Co., Ltd. (“Mirae Asset”), the Korea-based asset management entity of Mirae Asset Financial Group.  Global X is a corporation existing under the laws of Canada and is the manager and investment manager of the Global X Funds.

© 2025 Global X Investments Canada Inc. All Rights Reserved.

SOURCE Global X Investments Canada Inc.

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A massive Bitcoin short squeeze triggered nearly $1 billion in liquidations across the crypto market Thursday, marking the largest squeeze since 2021. The sudden surge propelled Bitcoin (BTC) above the $100,000 mark for the first time in months, shaking out over-leveraged traders and reigniting bullish momentum across digital assets.

The spike came after weeks of stagnant trading, catching many short sellers off guard. Ethereum (ETH) also broke out, soaring past a key resistance level at $2,100 and contributing to widespread market volatility.

Short Sellers Burned as Bitcoin Tops $100K

Thursday’s rally was one of the most dramatic in recent memory. According to Coinglass, more than $964 million in crypto futures were liquidated within 24 hours. Of that, $834 million came from short positions—bets that prices would fall—making it the largest Bitcoin short squeeze event in over three years.

Bitcoin alone accounted for $416 million in liquidations, including one massive $11.97 million BTC/USDT position on Binance. At the height of the frenzy, Bitcoin surged past $100,000 and briefly touched $102,000 before pulling back slightly. This marks the first time Bitcoin has traded in six-figure territory since early February.

The total crypto market cap also soared, hitting $3.3 trillion, its highest level since March.

Trade Deal Sparks Risk-On Sentiment

What triggered this historic Bitcoin short squeeze? A key catalyst was a newly announced U.S.-UK trade agreement. President Donald Trump described the deal as the beginning of “more global partnerships,” a comment that appeared to boost sentiment across risk assets, including crypto.

The renewed optimism came amid an already fragile market dynamic, with many traders positioned bearishly after weeks of consolidation. The sudden bullish reversal ignited a classic short squeeze—forcing short sellers to buy back their positions to cover losses, which only intensified upward momentum.

Ethereum Joins the Breakout

Ethereum followed closely behind Bitcoin’s move, surging past $2,100 after struggling for weeks. Despite concerns over the recent Pectra upgrade and the distracting rise of meme coins, ETH managed to outperform most major altcoins.

According to Santiment, an on-chain analytics firm, the Bitcoin short squeeze also benefited Ethereum, which saw $259 million in short liquidations. The firm called the move “contrarian,” noting that the market often reverses when retail sentiment hits extremes—a pattern that played out once again.

FOMO Returns, But for How Long?

As Bitcoin’s breakout reverberates through the market, analysts warn of a potential cooldown. While optimism is high, the rally was partially fueled by retail FOMO (fear of missing out) and aggressive media coverage, both of which have historically preceded short-term corrections.

Santiment suggested that the recent price spike could mark the beginning of another speculative cycle. However, with Bitcoin above $100K and the largest short squeeze since 2021 behind us, the path forward may depend on macroeconomic developments and continued institutional support.

Market Outlook After the Squeeze

The crypto market’s recovery has reignited interest in digital assets, especially among sidelined investors waiting for a signal. Still, whether this breakout proves to be a sustained uptrend or a temporary blowoff remains to be seen.

With Bitcoin reclaiming $100,000 and Ethereum showing renewed strength, all eyes are now on the Federal Reserve, inflation data, and geopolitical headlines that could shape the next phase of this volatile market.

For now, the Bitcoin short squeeze stands as a reminder of the crypto market’s explosive potential—and its unforgiving nature for those caught on the wrong side of momentum.

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Coinbase (NASDAQ:COIN) made headlines this week by announcing its $2.9 billion acquisition of Deribit, a leading crypto derivatives exchange. The Coinbase Deribit acquisition is now the largest merger in crypto history, and it signals a strategic push into the booming crypto options market. The landmark deal includes $700 million in cash and 11 million Coinbase shares, underscoring the company’s aggressive expansion beyond traditional spot trading.

In a blog post revealing the acquisition, Coinbase emphasized the significance of this move: “This isn’t just another addition; it’s foundational to our vision of creating the most comprehensive, compliant, and user-friendly derivatives platform globally.” This statement underscores how central Deribit will be to Coinbase’s future ambitions.

Deribit, founded in 2016, has become one of the world’s most trusted and liquid crypto options platforms. The firm raised $40 million in 2022 at a $400 million valuation, with backing from QCP Capital and Polybius Capital, according to Crunchbase. The Coinbase Deribit acquisition represents not only a substantial premium but also a major consolidation play in the evolving world of digital asset derivatives.

A Bold Expansion into Crypto Derivatives

Coinbase’s core business has historically centered around spot crypto trading, but declining trading volumes and tightening competition from international platforms have forced the company to diversify. By acquiring Deribit, Coinbase secures a dominant position in the high-margin crypto derivatives sector—particularly options, which have surged in popularity among institutional and professional traders.

Crypto derivatives allow traders to hedge risk, speculate on price movements, and manage volatility more efficiently. The addition of Deribit’s infrastructure to Coinbase’s compliance-forward ecosystem could help bridge the gap between crypto-native products and regulated financial markets.

This acquisition also sends a clear message: Coinbase intends to lead in every segment of the digital asset economy.

Crypto M&A Heats Up

The Coinbase Deribit acquisition is the latest in a flurry of high-value deals reshaping the crypto landscape. In recent months, Ripple Labs made waves by acquiring brokerage firm Hidden Road for $1.25 billion. Ripple, best known for its XRP token and blockchain payment technology, has seen a resurgence after the U.S. Securities and Exchange Commission (SEC) dropped its lawsuit accusing the company of selling unregistered securities.

Kraken, another major U.S. exchange, also jumped into the M&A game by acquiring retail-focused futures platform NinjaTrader for $1.5 billion. These moves signal a shift from survival mode to expansion, particularly as expectations grow that the re-election of Donald Trump may lead to more favorable crypto regulation in the U.S.

Venture Funding Surges in Q1

M&A isn’t the only trend heating up—venture capital is flowing back into the space. According to Crunchbase, crypto and blockchain startups raised $3.8 billion in Q1 across 220 deals, representing a 138% increase over the prior quarter. That jump was largely fueled by Binance, which secured a $2 billion investment from MGX, an Abu Dhabi-based firm. It stands as the largest single investment in a crypto company to date.

The renewed investor interest, combined with consolidation among major players, paints a bullish picture for the future of crypto markets. Coinbase’s move to acquire Deribit is not just a signal of confidence in derivatives, but a sign of the industry’s next evolution: one that is institutional, global, and ready for mainstream adoption.

Looking Ahead

The Coinbase Deribit acquisition may set a new standard for how regulated U.S.-based crypto companies approach international markets. With Deribit’s stronghold in Europe and Latin America, Coinbase will gain access to new customer bases while potentially smoothing regulatory hurdles through its established compliance practices.

As crypto markets mature and global competition intensifies, this bold acquisition reflects a pivotal shift toward consolidation and strategic diversification. Whether it becomes a turning point for Coinbase—or for the crypto industry as a whole—remains to be seen, but one thing is clear: the game is changing.

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The Trump crypto scandal is sparking outrage across Capitol Hill, with lawmakers accusing former President Donald Trump and his family of pushing a self-serving digital currency agenda. At the center of the controversy is a billion-dollar deal involving an Abu Dhabi-backed investment fund, a Trump-affiliated stablecoin, and crypto exchange giant Binance.

World Liberty Financial, a cryptocurrency venture co-owned by Trump’s sons Donald Jr. and Eric, holds direct ties to the former president. According to the company’s website, 60% of it is controlled by a Trump business entity. Critics say this setup dangerously blurs the line between public office and private profit.

A $2 Billion Deal Draws Fire

On May 1, the Emirati fund revealed plans to use Trump’s stablecoin to finance a $2 billion investment in Binance. The massive crypto transaction raised alarm among lawmakers, many of whom believe it undermines the GENIUS Act — a bipartisan effort aimed at regulating stablecoins with oversight, transparency, and consumer protection.

The scandal has already led to fallout. Democratic Rep. Maxine Waters stormed out of a House crypto hearing, calling Trump’s actions “a blatant abuse of power” and accusing him of using regulatory influence to benefit his personal interests.

Meme Coin Profits and Exclusive Perks

The Trump crypto scandal doesn’t stop at stablecoins. In late April, Fight Fight Fight, a company aligned with Trump’s brand, promoted its $TRUMP meme coin by offering exclusive rewards to top investors. Perks included an “intimate dinner” with Trump at his Virginia golf club and a now-deleted promise of a “VIP White House Tour” — despite him no longer being in office.

These promotions sent the coin’s value soaring by up to 80%. Since January, Trump-linked tokens and meme coins have generated over $300 million in trading fees. Many lawmakers view these profits as the result of a carefully orchestrated campaign to exploit Trump’s political brand.

Support for GENIUS Act Weakens

Once seen as a landmark in crypto oversight, the GENIUS Act is now on shaky ground. Senators across party lines are distancing themselves from the legislation. Democratic Sen. Elizabeth Warren called the Trump crypto scandal “a textbook example of corruption,” arguing that the bill, in its current form, could end up legitimizing Trump’s crypto ventures.

Senate Majority Leader Chuck Schumer has reportedly urged fellow Democrats to demand stronger anti-corruption measures before supporting the bill. At least nine Democratic senators have pulled their backing since news of the Trump deal broke.

Republican Lawmakers Also Voice Doubts

Though less direct in their criticism, some Republican senators are also signaling resistance. Sen. Rand Paul warned that the proposed regulations could stifle crypto innovation, while Sen. Josh Hawley expressed discomfort with the idea of private entities, including Big Tech, issuing stablecoins.

Sen. John Kennedy, too, remains undecided. He noted that “deals are being made all over the place” and refused to support the bill until its details are clarified.

Calls for New Safeguards and Reform

In response to the Trump crypto scandal, Sens. Jeff Merkley and Elizabeth Warren are drafting legislation to prohibit the president, vice president, and lawmakers — along with their families — from launching or profiting from crypto ventures while in office.

Sen. Merkley described Trump’s activities as “selling access to his office in broad daylight,” adding, “This isn’t just unethical — it’s corrosive to democracy.”

If passed, the End Crypto Corruption Act would aim to restore public trust by separating digital asset entrepreneurship from political power.

Public and political pressure continues to mount as the Trump crypto scandal unfolds. Whether it derails the GENIUS Act or reshapes how U.S. officials engage with digital assets, one thing is clear — the intersection of politics and crypto has never been more volatile.

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After a rocky start to the year, the Bitcoin ETFs market is gaining significant momentum. With growing institutional interest, weakening U.S. dollar forecasts, and an accommodative macroeconomic environment, Bitcoin and related exchange-traded funds are re-entering bullish territory.

Bitcoin ETFs Ride the Institutional Wave

The latest inflows into Bitcoin ETFs are a clear signal: big money is getting behind crypto. According to The Economic Times, spot Bitcoin ETFs have recorded over $4.2 billion in net inflows in just the past few weeks, fueled primarily by institutional investors increasing their exposure to the digital asset.

Geoff Kendrick, a senior analyst at Standard Chartered, expects that the mid-May 13F filings with the SEC will show even more institutional support for Bitcoin ETFs. This data could confirm a broader shift in asset allocation strategies, including a move away from traditional safe-haven assets like gold.

Indeed, Kendrick has noted that investors may be rotating from gold ETFs into Bitcoin ETFs, viewing the latter as a more attractive inflation hedge and long-term store of value.

Weak Dollar Makes Bitcoin Shine

The U.S. dollar has been on a downward trajectory in 2025, due in part to tariff tensions and shifting investor sentiment. The U.S. Dollar Index (DXY) is down 2.25% in the last month and more than 8% since the start of the year, according to TradingView.

This dollar weakness has bolstered the case for Bitcoin. A depreciating greenback typically benefits hard assets, and Bitcoin, with its capped supply of 21 million coins, is increasingly being seen as “digital gold.”

Forbes reports that several financial institutions now predict a further 15-20% decline in the dollar over the next few years, a development that would likely boost Bitcoin’s long-term value—and by extension, the value of Bitcoin ETFs.

Fed Policy Could Fuel the Crypto Fire

Another catalyst for the current crypto surge is monetary policy. The Federal Reserve is expected to hold rates steady in the near term, but economists project rate cuts beginning in July 2025. According to Barclays, as quoted by Reuters, the Fed is unlikely to move until mid-summer, waiting for more clarity on trade policy and inflation data.

Lower interest rates generally increase risk appetite, pushing investors toward higher-yielding and more volatile assets—like Bitcoin and Bitcoin ETFs. According to the CME FedWatch Tool, there’s a 77.6% chance of a rate cut in July and a 99.5% chance of further easing by September.

Bitcoin Price Predictions Remain Bullish

As confidence grows, so do price targets. Standard Chartered’s Kendrick believes Bitcoin could soon surpass its all-time high of $109,000 and potentially hit $120,000 by the end of Q2. His year-end target is a bold $200,000, assuming institutional inflows continue and macro conditions remain favorable.

Joe Burnett, head of research at Unchained, echoes this sentiment, suggesting Bitcoin could even surge to $250,000 if current tailwinds persist.

Top Bitcoin ETFs for 2025

For investors looking to gain exposure to this bullish trend, several Bitcoin ETFs offer a practical entry point. Among the top picks:

• iShares Bitcoin Trust (NASDAQ:IBIT) 
• Grayscale Bitcoin Trust (OTCQX:GBTC) 
• Fidelity Wise Origin Bitcoin Fund (CBOE:FBTC) 
• ARK 21Shares Bitcoin ETF (CBOE:ARKB) 
• Bitwise Bitcoin ETF Trust (NYSEARCA:BITB) 

For those prioritizing cost efficiency, BITB stands out with an annual expense ratio of just 0.20%, making it ideal for long-term holders. Investors may also consider the newer Grayscale Bitcoin Mini Trust (OTCQX:BTC), which charges a competitive 0.15% fee.

Final Thoughts

While the cryptocurrency market remains inherently volatile, the long-term thesis for Bitcoin ETFs continues to strengthen. Institutional confidence, weakening dollar trends, and dovish monetary policy are aligning to push Bitcoin—and its associated funds—to new highs.

As always, investors should weigh the risks carefully. But for those with a long-term outlook and an appetite for innovation, 2025 may be the breakout year for Bitcoin ETFs.

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