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.
Bitcoin led the cryptocurrency market higher following Grayscale's victory in the lawsuit against the SEC, but analysts caution that the victory does not guarantee the approval of a spot Bitcoin ETF.
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.
Analysts from crypto research firm K33 claim that the potential approval of a spot Bitcoin ETF is underestimated by the market, stating that it would attract significant inflows and increase buying pressure for Bitcoin, while a rejection would have a negligible impact on prices; they also predict that Ether is likely to outperform Bitcoin in the next two months.
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.
A court victory for Grayscale Bitcoin Trust may lead to its transformation into an exchange-traded fund, potentially providing a profitable opportunity for investors. However, the approval of the US Securities and Exchange Commission (SEC) remains uncertain, despite a recent favorable ruling.
Grayscale's spot bitcoin ETF review is likely to be approved, following the introduction of Europe's first spot Bitcoin exchange-traded fund, setting a precedent for the Securities and Exchange Commission to allow the conversion of the Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund.
A bipartisan group of lawmakers is urging the U.S. Securities and Exchange Commission (SEC) to approve bitcoin exchange traded funds (ETFs), arguing that the SEC should follow court rulings and cease efforts to block regulatory approval.
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.
Spot Bitcoin ETFs are poised to be approved by the U.S. Securities and Exchange Commission, which would streamline institutional adoption of digital assets in the country and bring in fresh capital, as traditional financial institutions like BlackRock, Fidelity, and VanEck apply for spot Bitcoin ETF listings.
Grayscale Investments seeks approval from the SEC to convert its Ethereum investment product into an exchange-traded fund (ETF), aiming to bring Ethereum further into the U.S. regulatory framework.
The number of ETFs tied to cryptocurrencies, particularly ether, is expanding rapidly, making it easier for financial professionals to gain exposure to the crypto market, while the launch of ether futures products may indicate optimism for the approval of spot bitcoin products by the SEC.
The first day of trading for futures-based ether exchange-traded funds (ETFs) was lackluster, with low trading volume compared to previous bitcoin ETF launches. Additionally, Grayscale Investments has filed for approval to convert its Ethereum trust into a spot Ethereum ETF, aiming to offer investors regulated access to crypto. Meanwhile, former FTX exchange boss Sam Bankman-Fried is attempting to prevent certain witnesses from testifying in his fraud trial.
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.
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.
JP Morgan analysts assert that the approval of a spot bitcoin exchange-traded fund (ETF) could lead to a rally in the BTC mining industry, which is currently threatened by record-high hashrates and an upcoming block reward halving, and they recommend mining operators that offer the best value, such as CleanSpark and Iris Energy.
Approval of spot-based Bitcoin exchange-traded funds (ETFs) is partially priced in, leading to Bitcoin outperforming other cryptocurrencies, according to Coinbase Institutional, but once the ETFs are approved, Bitcoin's edge over the market may diminish.
Crypto traders anticipate the approval of a spot bitcoin ETF to revive the market, while major tokens like XRP and Solana's SOL stabilize following a period of decline.
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.
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.
Summary: Grayscale has filed an application with the SEC to secure approval for its Grayscale Bitcoin Trust to operate as a spot Bitcoin ETF listed on the NYSE, while also facing a lawsuit that could complicate its listing efforts.
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.
Increased optimism about the potential approval of multiple spot bitcoin exchange-traded-funds (ETFs) has led to the recent gains of Bitcoin (BTC), according to JPMorgan.
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.
Bitcoin experienced a brief rally after news of the SEC approving a Bitcoin ETF turned out to be fake, revealing that price gains expected from an ETF approval were not already accounted for, while social media speculation continues regarding when the SEC will finally approve a Bitcoin ETF and New York's attorney general's lawsuit against Genesis raises questions about its subsidiary, Grayscale's chances of landing a Bitcoin ETF.
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%.
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.
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.
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.
There is increasing optimism for the approval of a Bitcoin ETF in the near future, supported by recent cryptocurrency regulatory developments and court victories for Ripple and Grayscale, as well as Bitcoin's price surge in October.
