BlackRock – the world’s largest asset manager – announced securing $100,000 in seed funding from an undisclosed investor for its latest spot Bitcoin ETF proposal. This revelation comes from the giant’s recent filing with the United States Securities and Exchange Commission (SEC). The development comes on the heels of the company filing an amended S-1...Read More
For its more speculative enthusiasts, Bitcoin is delivering an early Christmas by racing beyond the $40,000 threshold and showing strong upward momentum. The rally has helped the market to distance itself from the challenges of the crypto winter in 2022. Yet, it’s essential to note that Bitcoin began the year with a precarious start, initially...Read More
Bitcoin spot exchange-traded fund fervor has gripped institutional investors, which are piling funds back into crypto assets. Institutional-grade crypto asset funds saw their largest weekly inflows since late 2021 last week, according to fund manager CoinShares. A new record of inflows of 346 million was recorded for the week, the highest total observed in the...Read More
Crypto derivatives trading activity on the Chicago Mercantile Exchange (CME) has been surging in recent days as the Bitcoin ETF hype increases. There has been growing optimism that the SEC will approve a spot Bitcoin ETF in January. This has led to increased trading of Bitcoin futures on platforms like CME Group. However, some traders...Read More
Michael Novogratz, the founder and CEO of Galaxy Digital Holdings Ltd., anticipates that Bitcoin will reclaim its previous peak within a year, fueled by the growing expectation that the U.S. Securities and Exchange Commission (SEC) will greenlight the first American exchange-traded fund (ETF) directly holding Bitcoin. Meanwhile, there has been a surge in Bitcoin ETF...Read More
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...Read More
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...Read More
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...Read More
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...Read More
Markets have been eagerly awaiting SEC’s approval for a spot Bitcoin ETF all year. Word from the rumor mill of an imminent move by the SEC in October sparked a sustained rally in Bitcoin prices. BTC traded on crypto exchanges at an average price of $26,750 on Oct 12 and then rallied 40% to $37,490...Read More
The prospect of a regulated spot Bitcoin ETF has roused cryptocurrency investors into a frenzied bull run. They expect an ETF product to on-ramp millions of investors in structured broker-dealer accounts. Since March, Bitcoin (BTC) has traded in a range bound by support at $25,000 and resistance at the $30,000 level. As spot ETF rumors...Read More
Binance’s founder and former CEO, Changpeng “CZ” Zhao, pleaded guilty to violating the Bank Secrecy Act. The charges against Binance include money laundering violations, conspiracy to engage in an unlicensed money-transmitting business, and violations of US sanctions. It’s worth noting that US authorities haven’t accused Binance of misusing user funds or engaging in market manipulation....Read More
Grayscale Investments, a prominent cryptocurrency asset manager, is making significant strides in its quest to convert its Grayscale Bitcoin Trust (GBTC) into a spot bitcoin exchange-traded fund (ETF). The company recently held a crucial meeting with the Securities and Exchange Commission (SEC) to discuss potential listing matters related to the shares of the product. Grayscale...Read More
The former president of the New York Stock Exchange (NYSE) is bullish on a Bitcoin ETF, claiming that money will “flood into the industry” when such a product is approved in the United States. Now serving as CEO of crypto trading platform Bullish, Tom Farley argued on Tuesday that Bitcoin is a legitimate “store of...Read More
The Bitcoin market experienced a setback in its upward trend following the Securities and Exchange Commission’s (SEC) postponement of decisions regarding spot Exchange-Traded Funds (ETFs). This sparked a wave of profit-taking, with investors buying at lower prices and selling at peaks for gains. Current analysis predicts that without positive news, Bitcoin may face challenges in...Read More
BlackRock Inc., a prominent asset management firm, the company has brought attention to the potential threats that stablecoins pose to the Bitcoin market. This disclosure, part of a publicly filed document submitted to regulatory bodies, sheds light on the intricate challenges and intricacies within the ever-evolving landscape of cryptocurrency. BlackRock Shed Light’s on Stablecoin Volatility...Read More
The potential approvals of spot Bitcoin exchange-traded funds (ETFs) are poised to revolutionize the cryptocurrency market. According to industry experts and recent analyses from Coinbase and other financial institutions, once such products see the light of day, shifting the focus from tracking fund flows to considering the long-term impact on the market is important. Spot...Read More
Began from Nov 9, the SEC has this unique “window” to give the thumbs up to all 12 spot Bitcoin ETF filings, even including Grayscale Investments’ conversion of its Grayscale Bitcoin Trust product by November 17. SEC Remains Silent Bitcoin enthusiasts and investors alike have been closely monitoring the Securities and Exchange Commission’s response to...Read More
The ProShares Bitcoin Strategy ETF (BITO) – the largest existing Bitcoin ETF in the United States – has absorbed a quarter of a billion dollars worth of flows over the past month. This marks the fund’s second-best-performing month next to its launch date, signaling fierce anticipation over an incoming spot ETF approval. Revival of Futures...Read More
The Chicago Mercantile Exchange (CME) recently displaced the world’s largest crypto exchange, Binance, becoming the biggest Bitcoin futures exchange. CME’s recent surge in Bitcoin Futures Open Interest has been driven by massive liquidations caused by Bitcoin’s sudden price surge. CME’s Bitcoin Futures OI Swells According to Coinglass data, CME’s number of Bitcoin Futures in Open...Read More
Cathie Wood has announced that Ark Invest will collaborate with 21Shares to introduce a new suite of innovative exchange-traded funds (ETFs). These ETFs are designed to provide investors with diversified exposure to digital assets, including Bitcoin and Ethereum futures contracts and investments in blockchain-related companies. Ark Invest Unveils New Suite of Digital Asset ETFs Cathie...Read More
The SEC has a brief window on November 9 to potentially approve all 12 spot Bitcoin ETF applicants in the U.S. This opportunity will last at least eight days. The United States Securities and Exchange Commission (SEC) may approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications within this timeframe. Bloomberg ETF analysts James...Read More
Hong Kong, renowned for its position as a global financial hub, is contemplating the introduction of exchange-traded funds (ETFs) directly investing in cryptocurrencies. This initiative is part of Hong Kong’s broader efforts to establish itself as a prominent digital asset hub in the Asia-Pacific region while addressing the repercussions of the JPEX scandal. Race to...Read More
German asset management powerhouse DWS Group, with a staggering $900 billion in assets under management, is poised to make a significant foray into cryptocurrencies. The firm is gearing up to introduce exchange-traded funds (ETFs) dedicated to digital assets for retail investors, signaling a pivotal moment in the convergence of traditional finance and the burgeoning crypto...Read More
Investment research firm Bernstein has predicted that bitcoin (BTC) could soar to $150,000 within the next two years. According to a CNBC report, Bernstein analyst Gautam Chhugani said in a research note that BTC’s predicted surge would be due to optimism surrounding the spot Bitcoin exchange-traded fund (ETF). BTC to Hit $150K in 2025 Chhugani...Read More
According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, digital asset investment products received a total of $326 million in inflows, marking the highest weekly influx since July 2022. The asset manager speculated that the rising optimism from investors that the US Securities and Exchange Commission would approve a spot-based Bitcoin...Read More
Valkyrie Funds files an amended prospectus in hopes of getting its ETF approved by the SEC. SEC Talkin’ About Litigation: A closed-door meeting by the SEC on November 2 will focus on BTC ETF approval and potential legal action. Valkyrie Files for Updated Bitcoin Spot ETF Application Valkyrie Funds has filed an updated amendment prospectus...Read More
Galaxy Digital, the crypto venture led by U.S. billionaire Mike Novogratz, has projected a substantial capital influx into spot Bitcoin exchange-traded funds (ETFs). According to the estimations, these ETFs could witness an impressive $14.4 billion in inflows during their inaugural year, potentially reshaping the investment landscape. The venture contends that the allure of spot Bitcoin...Read More
October witnessed significant advancements in the industry owing to the launch of six ETH Futures ETFs, offering investors a chance to delve into Ether futures. Bitcoin responded positively to the developments. Further gains were fueled by speculations about BlackRock’s application approval of a spot BTC ETF in the United States. As a result, the total...Read More
The spot ETF bungle in the United States continues as BlackRock’s IBTC vanishes then appears again on the Depository Trust and Clearing Corporation website. The subsequent developments have managed to sway Bitcoin’s price rather violently since, traditionally, these steps by DTCC are executed immediately prior to the product launch. It is important to note that...Read More
