BlackRock, the world's largest asset manager, has filed a proposal to establish a Bitcoin exchange-traded fund (ETF), which could increase mainstream acceptance of Bitcoin investing and open up new investment opportunities if approved by the U.S. Securities and Exchange Commission (SEC).
The US Securities and Exchange Commission is seeing a surge in proposals for crypto ETFs, including spot bitcoin ETFs and ether futures ETFs, which could have significant impacts on the adoption of cryptocurrencies, market moves, and the potential outperformance of various tokens.
A federal appeals court ruling has opened the door for the launch of a spot Bitcoin exchange-traded fund (ETF), with a number of high-profile asset managers potentially being approved to enter the market, leading to increased competition and potential fee reduction for fund managers.
The US Securities and Exchange Commission (SEC) may prepare alternative arguments to reject spot bitcoin exchange-traded-fund (ETF) applications despite a recent court ruling favoring Grayscale's attempt to convert the Grayscale Bitcoin Trust into an ETF, according to German investment bank Berenberg. However, the victory for Grayscale potentially increases the chances of the SEC approving one or more spot bitcoin ETF applications, which could have a significant impact on the crypto industry by providing institutional investors with easier market access.
Bitcoin could potentially experience a significant increase of 10% to 20% if a spot BTC exchange-traded fund (ETF) is approved in the United States, according to analyst DonAlt, who believes the chances of approval are close to 100%.
Former SEC chair Jay Clayton believes that the approval of spot Bitcoin exchange-traded funds (ETFs) is inevitable, as major financial institutions backing BTC investment vehicles represent a shift in how retail investors can access crypto. The SEC has 45 days to approve, deny, or delay ETF applications from 7 major firms.
Bitcoin may experience a bull market if a spot-based Bitcoin exchange-traded fund (ETF) is approved around the time of the next halving, leading to a supply and demand shock in the cryptocurrency market.
A Bitcoin ETF is likely to be approved in the US by the end of 2023, with recent developments indicating increased prospects of approval, potentially revitalizing Bitcoin and lifting the crypto market out of its bearish state.
The market is underestimating the potential impact and value of Spot Bitcoin ETFs, with analysts arguing that approval would lead to significant financial inflows and buying pressure, and that it is a good time to enter the market and start building a crypto portfolio, despite regulatory challenges. Ethereum could also benefit from a futures-based ETF listing, but there is caution about the SEC potentially classifying ETH as a security. Overall, the global crypto adoption is dependent on market maturity, regulatory intervention, and consistent long-term adoption.
Nasdaq is aiming to be the first US exchange to list a spot bitcoin ETF, with a focus on the approval process and the importance of a surveillance sharing agreement with a regulated market of significant size.
Four members of the United States Congress are urging SEC Chair Gary Gensler to approve the listing of spot Bitcoin exchange-traded funds (ETFs) immediately, claiming that the SEC is discriminating against such products despite legal precedent. They argue that spot BTC ETFs would provide increased investor protection and transparency.
The US Securities and Exchange Commission (SEC) has further delayed the approval of Bitcoin spot ETF applications, setting January 10, 2024, as the final deadline for the Ark/21Shares ETF application, potentially dampening hopes for a spot ETF to be approved by the end of the year.
The approval of a spot bitcoin ETF by the SEC could lead to the approval of a spot ether ETF as well, presenting a potentially greater opportunity for Grayscale's Ethereum Trust due to its larger discount and Ethereum's better upside as a leading platform for Web3 development.
Asset management giant Invesco and Galaxy Digital have partnered to apply for an Ethereum spot exchange-traded fund (ETF), following their joint application for a Bitcoin product earlier this year, marking the fourth Ethereum spot ETF application to be submitted recently.
Former BlackRock managing director Steven Schoenfield predicts that the U.S. Securities and Exchange Commission (SEC) will approve a Bitcoin spot ETF within three to six months, and believes that a potential approval could lead to a significant inflow of $150 to $200 billion into Bitcoin investment products over three years.
The recent filing for a spot Ethereum exchange-traded fund (ETF) in the United States by ARK Invest marks a turning point in the integration of digital assets into traditional finance, signaling the dawn of institutional liquid staking and the need for regulatory approval for mainstream adoption.
US regulators are likely to approve all spot Bitcoin exchange-traded fund (ETF) applications at once, according to a former executive at BlackRock, due to the influential role of the investment titan in the industry.
The SEC's engagement with spot bitcoin ETF applicants and positive developments from BlackRock indicate a high chance of approval for bitcoin spot ETFs by the end of 2023 or the first quarter of 2024, potentially leading to a wave of institutional investment and redefining investment dynamics.
Cathie Wood's Ark Invest has filed a second amended application for a Bitcoin spot exchange-traded fund (ETF), addressing additional risk warnings associated with the Bitcoin network and ensuring that assets are kept separate from corporate or customer funds, indicating progress towards the approval of the industry's first spot Bitcoin ETF.
ARK Invest CEO Cathie Wood believes that the Chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is blocking a spot market Bitcoin exchange-traded fund (ETF) despite the agency's knowledge and understanding of Bitcoin. Wood suggests that multiple spot Bitcoin ETFs may be approved in the future.
The US SEC's decision not to appeal against a ruling rejecting a spot BTC ETF indicates evolving regulatory dynamics in the crypto market and could potentially lead to the approval of more spot bitcoin ETFs in the US, narrowing the gap with Europe and Canada.
The intense interest in spot market bitcoin ETFs stems from the desire to bridge the gap between traditional finance and the bitcoin asset class, allowing access to billions of dollars of sidelined capital, despite the SEC's historical rejection of spot-based BTC ETF applications due to concerns of market manipulation and inadequate market surveillance systems.
A bitcoin spot ETF approval in the US could lead to a surge in bitcoin's market capitalization, potentially adding $1 trillion to the wider crypto market value.
Interest in the potential launch of a spot bitcoin ETF has surged among retail investors, as indicated by the worldwide Google search value for "spot bitcoin ETF" approaching its peak value of 100, signaling maximum interest, while the search value for "bitcoin ETF" has reached its highest level in two years. Retail investors are seeking information on how a spot ETF might impact the cryptocurrency market. The approval of a spot BTC ETF is seen as a significant milestone in bitcoin's mainstream adoption and is expected to bring increased liquidity.
Coinbase's chief legal officer is optimistic that bitcoin spot exchange-traded fund (ETF) applications will be approved by the U.S. Securities and Exchange Commission, potentially boosting the price of bitcoin and benefiting crypto-linked stocks.
If the U.S. Securities and Exchange Commission approves a spot Bitcoin exchange-traded fund (ETF), a top analyst predicts that Bitcoin could reach levels not seen since November 2021, potentially appreciating by over 100%.
The potential approval of a bitcoin spot ETF has garnered significant attention, and this article explains the process of how an ETF is created, who approves it, and why the lack of a bitcoin spot ETF has been a point of controversy.
Crypto ETF expert Stuart Barton predicts that all applications for spot bitcoin exchange-traded funds (ETFs) to the SEC may be approved simultaneously, following the SEC's approval of multiple ether ETFs at once, setting a precedent.
BlackRock's proposed iShares spot Bitcoin exchange-traded fund (ETF) has been listed on the Depository Trust & Clearing Corporation (DTCC), indicating potential approval from the SEC and potentially opening the door for other spot crypto ETF filings to be reviewed by the SEC.
Cryptocurrency prices surged as bitcoin reached its highest level since May 2022, driven by hopes of a spot bitcoin exchange-traded fund (ETF) launching soon after the SEC declined to challenge Grayscale Investments' court loss. Several firms, including ARK Invest, VanEck, BlackRock, and Coinbase, have filed for bitcoin ETFs, and there is significant institutional demand for a spot bitcoin ETF with expectations of SEC approval.
BlackRock and other asset managers have filed applications to list a spot Bitcoin ETF, which would allow investors to gain direct exposure to Bitcoin without managing a crypto wallet or using a crypto exchange, presenting a significant development in the market and a cost-effective option for investors.
Spot bitcoin ETFs could attract $14.4 billion in the first year of issuance, with potential inflows of $27 billion and $39 billion in the second and third years respectively, according to Galaxy Digital, as these ETFs offer a better investment vehicle compared to existing products and could tap into the $48.3 trillion assets managed by broker-dealers, banks, and RIAs in the US.
Optimism for the approval of a spot bitcoin ETF by the SEC is growing, as reflected in bitcoin's outperformance and increased institutional participation.
The U.S. Securities and Exchange Commission (SEC) has multiple filings for potential bitcoin exchange-traded products under consideration, including an application from Cathie Wood's ARK Invest; approval of a spot bitcoin exchange-traded fund (ETF) could drive increased demand for the cryptocurrency.
Experts weigh in on the potential market demand for a Bitcoin ETF, with some believing it could attract significant capital while others point to the underperformance of spot crypto ETFs in Canada and Europe; however, they agree that long-term approval of a Bitcoin ETF would be beneficial for the cryptocurrency.
The expectation of regulatory approval for a spot bitcoin ETF has contributed to bitcoin's 20% surge in the past week, despite the decline in technology stocks, indicating a possible decoupling between bitcoin and U.S. equity markets. Traders are cautious about the upcoming FOMC meeting and its potential impact on the market.
A Bitcoin ETF could be approved in the near future, with speculation that BlackRock's application will receive approval from the SEC, but experts believe that initial demand may not meet the hype and that the performance of a spot market Bitcoin ETF may be subdued compared to futures ETFs. However, in the long-term, experts agree that the approval of a Bitcoin ETF would be positive for the cryptocurrency and create a more favorable investment environment in the US.
