Tag: ETF

MicroStrategy Grows Bitcoin Reserves By 14K BTC Ahead Of ETF Approval

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MicroStrategy (MSTR), a prominent Bitcoin holding company, has once again expanded its BTC holdings with a substantial purchase of 14,620 Bitcoin, amounting to a staggering $615.7 million.  The former CEO of the American business intelligence (BI) firm announced the acquisition, highlighting the company’s continued confidence in Bitcoin’s long-term potential.  With the potential approval of Bitcoin spot exchange-traded funds (ETFs) on the horizon, MicroStrategy aims to capitalize on the positive impact on BTC’s price and the company’s profitability in the leading cryptocurrency market. MicroStrategy Stock Skyrockets 337% According to a CNBC…

The Year Crypto Rebuilds Its Image, Fueled by ETF Hopes and Regulatory Clarity

First, SEC approval of spot bitcoin ETFs could stimulate more excitement and support for digital assets, clarifying regulatory uncertainties and valuation concerns. The recent excitement about advancements in payment processing, particularly with the introduction of PayPal’s U.S. dollar stablecoin, PYUSD, highlights the need for clarity. This excitement, however, was muddled due to the competition with other stablecoins that have varying commitments to reserve, anti-fraud or custody obligations. A new ETF approval could facilitate the growth of other blockchain projects including trustworthy stablecoins. Source

Grayscale Files Amended ETF Application Following Silbert’s Resignation

The amended ETF application came after a series of meetings between Grayscale and the SEC in December. Leading asset manager Grayscale Investments has filed an amended S-3 application seeking to convert its Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETF. Bloomberg analyst James Seyffart confirmed the reapplication with the Securities and Exchange Commission (SEC) on Tuesday, just a few hours after the CEO of the firm’s parent company, Barry Silbert, resigned. Grayscale Finally Yields to SEC’s Pressure The amended application came after a series of meetings between Grayscale and…

BTC Price at $43K, ‘Smart Money’ Bets Big on Bitcoin Ahead of Potential BTC ETF Approval

The “smart money index”, which measures the net bullish bets by institutional players through Chicago Mercantile Exchange (CME) Bitcoin futures, has reached an all-time high of over 13,700 in recent days. Large investors have taken large long positions in the Bitcoin (BTC) futures market, indicating that institutional capital is flooding into the coin in anticipation of the SEC potentially approving a spot Bitcoin exchange-traded fund (ETF). Meanwhile, Bitcoin is trading today at around $43,000. According to data from MacroMicro, a leading derivatives analytics firm in Taiwan, the “smart money index”,…

Talk of spot ETF lifts XRP, whales tracking ETH, INJ, and ROE

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. There has been a lot of talk about the XRP Spot Exchange-Traded Fund (ETF). It’s catching the attention of not just regular traders but also big players on Wall Street.  Yassin Mobarak from Dizercapital added to the excitement, making people discuss XRP’s potential in institutional investments.  Ethereum (ETH), Injective Protocol (INJ), and Borroe Finance (ROE) are also gaining traction, especially among big investors.  XRP ETF potential There is real…

Cathie Wood hints at spot Bitcoin ETF approval date

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Cathie Wood thinks U.S. Securities and Exchange Commission (SEC) is likely to approve spot Bitcoin (BTC) ETFs in January, 2024. Ark Invest CEO Cathie Wood believes SEC will approve spot Bitcoin ETFs by Jan. 10, 2024. She believes that this date is the deadline not so much for applicants but directly for the regulator itself. “We don’t want the spot Bitcoin ETF to get the green light if there are any uncertainties the SEC may have. We answer the SEC’s queries individually, and the dialogues are very positive.” Cathie Wood,…

Grayscale updates spot Bitcoin ETF filing amid Silbert’s resignation

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Crypto asset manager Grayscale has updated its S-3 filing for a spot Bitcoin (BTC) ETF. According to Bloomberg analyst James Seyffart, Grayscale filed an updated filing with the U.S. Securities and Exchange Commission (SEC) the same day Barry Silbert — CEO of parent company Digital Currency Group — announced his resignation from Grayscale’s board of directors. “Even Grayscale is accepting the SEC’s Cash-only creation/redemption edict. Looks like they’re bending the knee.” James Seyffart, Bloomberg analyst Some crypto market commentators have speculated that Silbert’s departure could significantly increase the chances of Grayscale…

BitMEX founder has a dire warning about spot ETF approval

Arthur Hayes, co-founder of the BitMEX crypto exchange, is sounding the alarm regarding what he sees as possible dire outcomes of the pending regulatory approval of the spot Bitcoin exchange-traded fund (ETF). The concern lies in traditional finance asset managers, such as BlackRock, potentially undermining Bitcoin (BTC) by dominating the spot Bitcoin ETF market. In a blog post on Dec. 22, Hayes highlighted the risk of such firms holding “all the Bitcoin in circulation.” If that happens, he says, an over-successful ETF managed by traditional asset managers could ultimately lead…

With Bitcoin Spot ETF Approvals, Halving and Incoming Upgrades, What Should You Expect from BTC in 2024?

The timing aligns perfectly in 2024 for a spot ETF approval to have already attracted significant investment, and then the halving decreases Bitcoin’s supply right when demand shoots higher. After yet another banner year in 2023 with over 150% gains, all eyes are on Bitcoin (BTC) to see if the flagship cryptocurrency can sustain its epic run in 2024. Key factors stacking up in Bitcoin’s favor for the coming year have analysts extremely bullish on its prospects. From the possibility of the first Bitcoin spot ETF to the scheduled mining…

Hashdex Names BitGo as Bitcoin ETF Custodian as Applicants Continue SEC Meetings

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