Tag Archives: bitcoin etf

With the heightened crypto regulatory crackdown and the US SEC’s change of attitude towards the industry, Bloomberg analyst argues all 12 applications will be approved in early January. The Bitcoin (BTC) bullish narrative that began in October is expected to continue in the coming weeks after the flagship crypto asset opened December on a high note. During the early New York trading session on Friday, Bitcoin price reached a new yearly high of around $38.8k, thus rejuvenating the $40k...

The ProShares Bitcoin Strategy ETF (BITO) – the first bitcoin (BTC) ETF to launch in the United States – has topped a new record for assets under management (AUM) this week, now boasting nearly $1.5 billion in Bitcoin futures contracts. The record signals eagerness among institutions to gain exposure to BTC before approval of a widely expected bitcoin spot ETF by January. Bitcoin Funds Soak In Capital BITO logged its previous record of $1.44 billion on November 10, 2021 –...

Market analysts anticipate the US Securities and Exchange Commission (SEC) to approve multiple spot Bitcoin ETFs in rapid succession. This has created a tense environment among applicants, particularly as the frontrunner stands to gain a significant first-mover advantage by attracting a substantial portion of everyday investors. As the race heats up, the traditional firms appear to be actively engaging in this ETF trade. Big Bets on Spot Bitcoin ETF According to Reflexivity’s...

The United States Securities and Exchange Commission (SEC) has outlined the next steps in evaluating the proposed Franklin Templeton and Hashdex spot Bitcoin exchange-traded fund (ETF) applications. Observers speculate that the SEC’s actions may set the groundwork for potential approvals of spot Bitcoin ETFs in early January 2024, following earlier delayed decisions on applications from two potential issuers. SEC Seeks Public Comments A filing on November 28 reveals that the...

The revised proposal allows the ETF to utilize both in-kind and cash mechanisms. The ETF plans to store Bitcoin in cold storage, with custody services provided by Coinbase Custody Trust. Franklin Templeton has submitted an updated S-1 filing to the Securities and Exchange Commission (SEC), seeking approval for the launch of a Bitcoin exchange-traded fund (ETF). This move comes shortly after the SEC decided to postpone the consideration of the previous proposal. The Franklin Bitcoin ETF...

Ark Invest seems to be rearranging its investment portfolio and has continued to sell huge amounts of Coinbase, while acquiring Robinhood shares. Cathie Wood’s investment firm, Ark Invest, made notable moves in its portfolio on Monday, marking a strategic shift in its crypto and fintech holdings. Ark Invest sold a substantial amount of its Coinbase Global Inc (NASDAQ: COIN) shares while increasing its position in Robinhood Markets Inc (NASDAQ: HOOD) and actively managing its exposure by...

The SEC website showed one memorandum with details of a discussion with BlackRock, and another one on a discussion with Grayscale. The US Securities and Exchange Commission (SEC) on Sunday revealed on its website one memorandum detailing discussions with financial giant BlackRock (NYSE: BLK), and another with crypto asset manager Grayscale Investments. These memos involved proposed rule changes concerning the listing and trading of spot Bitcoin exchange-traded funds (ETFs) by both...

The Bitcoin spot ETF narrative has numerous analysts and famous figures in the crypto space debating how much BTC will be worth if the ETF gets approved. The recent developments in the cryptocurrency market — the aftermath of the DOJ settling with Binance in $4.3 billion deal and the removal of CEO Changpeng Zhao — have sparked a re-evaluation of the bullish narrative surrounding the potential approval of a Bitcoin exchange-traded fund (ETF). The Binance drama initially led...

If the entire $2.7 billion exits the bitcoin market, it would exert significant downward pressure on bitcoin prices, the authors stated. However, if most of this $2.7 billion transitions into other bitcoin instruments, such as the newly established spot bitcoin ETFs post SEC approval, the negative market impact would be more moderate. Nevertheless, the bank indicated that Bitcoin continues to face downside risks, as some of the $2.7 billion is likely to exit the Bitcoin space completely. The...

Popular trader Bitcoin Jack expressed doubt about BTC hitting $42,000, pointing out that the Binance and ETF news failed to significantly alter market dynamics Bitcoin (BTC), the world’s largest digital asset currently trading at $37,704 has experienced significant volatility since its inception. As we look ahead to 2024, investors, enthusiasts, and analysts are beginning to unveil their predictions for the future price of Bitcoin. Binance Woes and BTC ETF Optimism on Bitcoin’s Price The...