The latest price moves in bitcoin [BTC] and crypto markets in context for Dec. 5, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
The world’s largest asset manager, BlackRock, received $100,000 in seed funding from an unknown investor for its spot Bitcoin (BTC) exchange-traded fund (ETF) in October 2023, according to its latest United States Securities and Exchange Commission (SEC) filing. The SEC filing revealed that the investor agreed to purchase $100,000 in shares on October 27, 2023, in exchange for 4,000 shares at $25.00 per share price. The seed funding allows an ETF to fund the creation of underlying shares that can be offered and traded in the open market. The latest filing…
Asset manager BlackRock has updated its application to launch the first-ever spot Bitcoin ETF in U.S. The document appeared on the website of the U.S. Securities and Exchange Commission (SEC). Bitwise has also updated its application to launch a similar tool. Analysts believe the action signals that the SEC is continuing discussions with the market about opportunities to approve a spot Bitcoin ETF. What does this mean? Without having read them — it just means that the wheel is still turning. Both the SEC and these issuers are working hard to…
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Bitcoin is at the highest level since April 2022, trading at $41.28K and up 4.71% in 24 hours. Following this upswing, the broader crypto market is up 3.4% on the last day. Bitcoin breaks out above $40k The $40K milestone has long been a critical physiological area of interest for Bitcoin investors, with many worrying that it may prove to be strong resistance. Consequently, many traders had remained partially or wholly sidelined or even been shorting Bitcoin as it approached the $40K mark. However, X commentator Mister Crypto noted that…
SEC’s discussion with top applicants of spot Bitcoin ETF continue as BTC price has rallied past $41,532 in a fresh surge. The US Securities and Exchange Commission (SEC) has revealed recent meetings with various asset managers to discuss their proposed spot Bitcoin exchange-traded funds (ETFs). On November 29, the SEC’s Division of Trading and Markets members engaged in discussions with several Grayscale employees, including CEO Michael Sonnenshein, and representatives from the law firm Davis Polk. This meeting followed three previous sessions with Grayscale, dating back to 2022, with the latest…
Changpeng Zhao, Binance’s former CEO, faced a setback; the Bitcoin spot ETF craze continues, with BlackRock and Grayscale modifying their filings; and BTC clinched the $39,000 spot amid a sustained market uptrend. Binance ex-CEO’s travel ban Recall that the U.S. Justice Department argued against letting Zhao leave to the UAE, adding that he might not return to the U.S. to face his sentencing, as the country does not have an extradition agreement with the UAE. This week, District Judge Richard Jones agreed that authorities restrict Zhao from leaving the U.S.…
Grayscale, a significant player in digital asset management, has expressed enthusiasm about the potential transformation of its Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. This move could eliminate the current 8.09% discount of approximately $1.89 billion, aligning GBTC’s price more closely with the actual value of Bitcoin, offering significant benefits for investors. The company’s chief legal officer, Craig Salm and chief financial officer, Edward McGee, revealed the details. Pending approval from the United States Securities Exchange Commission, GBTC is set to transition from its current platform, OTCQX, to the…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. According to analysts at Standard Chartered Bank, the price of Bitcoin (BTC) is poised for significant gains if an ETF spot is approved in the US. This bullish forecast comes as excitement builds around the presale of Bitcoin ETF Token (BTCETF), which has already raised an impressive $2.1 million in early investment. Standard Chartered predicts Bitcoin will hit $100k within 12 months In a recent research note, global banking…
The U.S. Securities and Exchange Commission (SEC) is asking the public what they think about financial services giant Fidelity’s potential spot market Ethereum (ETH) exchange-traded fund (ETF). In a new notice, the regulatory agency is asking the public for their opinion on Fidelity filing a bid to create an Ethereum-based ETF on the Chicago Board Options Exchange (CBOE). “Given that on November 17, 2023, Cboe BZX Exchange, Inc. filed with the Securities and Exchange Commission (SEC) the proposed rule change as described in Items I, II, and III below, which…