Tag: ETF

Franklin Templeton Refiles Its Updated Bitcoin ETF Application

The revised proposal allows the ETF to utilize both in-kind and cash mechanisms. The ETF plans to store Bitcoin in cold storage, with custody services provided by Coinbase Custody Trust. Franklin Templeton has submitted an updated S-1 filing to the Securities and Exchange Commission (SEC), seeking approval for the launch of a Bitcoin exchange-traded fund (ETF). This move comes shortly after the SEC decided to postpone the consideration of the previous proposal. The Franklin Bitcoin ETF shall list on the New York Stock Exchange’s Arca platform, mirroring the performance of…

Analyst points to imminent signs of spot Bitcoin ETF approval

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Bloomberg analyst James Seyffart believes that the US Securities and Exchange Commission (SEC) could approve all applications for the instrument at once in Jan. 2024. In his opinion, this is indicated by the collection of opinions on the application to launch a spot Bitcoin ETF by Franklin Templeton and Hashdex, meaning that every applicant needs to be lined up for potential approval by the Jan. 10, 2024 deadline. The expert posted an update on the filing noting that while the SEC was very early on the Franklin case, in fact,…

‘Clear runway’ opens for all Bitcoin ETF approvals in Jan: Analysts

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Bitcoin (BTC) spot exchange-traded funds (ETFs) in the United States now have a “clear runway” to potential simultaneous approvals after an advanced decision to delay the bids of Franklin Templeton and Hashdex ETFs, according to ETF analysts. In a Nov. 28 X (Twitter) post, Bloomberg ETF analyst James Seyffart said the Securities and Exchange Commission delayed its decision on the applications 34 days earlier than the Jan. 1, 2024, decision deadline. The SEC requested comments on forms by Templeton and Hashdex that are necessary for the ETFs to eventually be…

Futures will be the best crypto game in town even after a Bitcoin spot ETF

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The Chicago Mercantile Exchange (CME) has long been the home of crypto for traditional finance investors, and this is unlikely to change — even with the approval of a Bitcoin spot ETF. Activity on the CME has expanded significantly over the past 12 months. The CME now sees more Bitcoin (BTC) futures trading than the world’s biggest crypto exchange, Binance. Open BTC interest on the CME now makes up 24.7% of the entire market, making it the top Bitcoin futures trading venue in the world  While some of this activity…

‘Buy the rumor, sell the news’ — Bitcoin ETF may spark TradFi sell-off

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Bitcoin (BTC) may suffer when the United States approves the first spot exchange-traded fund (ETF), a new warning says. In a thread on X (formerly Twitter) on Nov. 28, Joshua Lim, head of derivatives at capital market firm Genesis Trading, predicted a volatile start to 2024 for BTC price action. Bitcoin ETF approval: Retail may be left holding the buck Lim said that Bitcoin is already a target for traditional finance, or “TradFi,” which is betting on winning big out of the spot ETF approval. “We know tradfi guys /…

Bitcoin metric that ‘looks into future’ eyes $48K BTC price around ETF

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Bitcoin (BTC) may cruise to nearly $50,000 as the United States okays the first spot price exchange-traded fund (ETF). As flagged by popular analyst CryptoCon, the Ichimoku Cloud indicator is counting down to upside BTC price continuation. Analysis: $43,000 BTC price is “most conservative level” Bitcoin is in a rare position on weekly timeframes when it comes to Ichimoku Cloud signals. As Cointelegraph reported, the indicator, which combines past, present and future trading cues, suggests that the BTC price gains have only just begun. In a post on X (formerly…

Bitcoin ETF desire narrows Grayscale GBTC discount to 8%

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The discount on Grayscale’s Bitcoin Trust known as GBTC continued to shrink as of Nov. 27, likely due to mounting anticipation for a regulatory nod toward spot Bitcoin ETFs. GBTC’s discount to net asset value (NAV) gradually fell to 8%, seemingly fueled by industry hype surrounding a raft of spot Bitcoin ETF filings from issuers like BlackRock and conviction from crypto proponents that the Securities and Exchange Commission (SEC) would soon approve such crypto-based financial products for the first time. Discount to NAV is regarded as an important metric for…

SEC Posts Memorandum Exploring BlackRock and Grayscale ETF Proposals

The SEC website showed one memorandum with details of a discussion with BlackRock, and another one on a discussion with Grayscale. The US Securities and Exchange Commission (SEC) on Sunday revealed on its website one memorandum detailing discussions with financial giant BlackRock (NYSE: BLK), and another with crypto asset manager Grayscale Investments. These memos involved proposed rule changes concerning the listing and trading of spot Bitcoin exchange-traded funds (ETFs) by both companies. SEC Memorandum May Indicate Progress with BlackRock and Grayscale ETF One memorandum from the SEC showed that on…

Bitcoin Spot ETF Will Bring $70 Billion In New Money

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Blockchain analytics firm Glassnode has estimated a substantial influx of investor demand following the approval of Bitcoin Spot ETF. The analysis indicates around $70 billion in new money flowing into Bitcoin, potentially setting the stage for a BTC price rally.  Bitcoin Spot ETF Set To Ignite New Inflows Blockchain data and intelligence provider, Glassnode has recently published research insights on the potential impacts of Bitcoin Spot ETF approvals on the price of Bitcoin and the broader crypto market. The on-chain analytics company has predicted about $70.5 billion flowing into Bitcoin…