Tag: ETF

Bitcoin ETF hype returns as ‘aggressive bid’ sends BTC price near $38K

Bitcoin (BTC) took fresh aim at $38,000 into Nov. 23 as an “aggressive bid” dispelled cold feet over Binance’s $4.3 billion fine. BTC/USD 1-hour chart. Source: TradingView Bitcoin analysis: “Something is cooking” Data from Cointelegraph Markets Pro and TradingView showed BTC price strength making a striking comeback to top out at $37,870. A subsequent cooling off kept the market near $37,500, with the mood markedly different to just 24 hours prior. Then, concerns over United States legal action against largest exchange Binance had sparked a cascade of long liquidations, which…

Bitcoin ETF hype returns as ‘aggressive bid’ sends BTC price near $38K

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Bitcoin (BTC) took fresh aim at $38,000 into Nov. 23 as an “aggressive bid” dispelled cold feet over Binance’s $4.3 billion fine. BTC/USD 1-hour chart. Source: TradingView Bitcoin analysis: “Something is cooking” Data from Cointelegraph Markets Pro and TradingView showed BTC price strength making a striking comeback to top out at $37,870. A subsequent cooling off kept the market near $37,500, with the mood markedly different from just 24 hours prior. Then, concerns over United States legal action against the largest exchange, Binance, sparked a cascade of long liquidations, which…

Grayscale Files Updated Spot ETF As Bitcoin Barrels Past $37,000

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The asset manager Grayscale has filed an updated Spot Bitcoin ETF filing following its meeting with the Securities and Exchange Commission (SEC). The foremost cryptocurrency, Bitcoin, also rebounded on the back of the news as it crossed the $37,000 mark once again. Why Grayscale’s Filing May Be Significant In its filing dated November 22, Grayscale made some amendments to the original S-3, which it had previously filed with the SEC. As pointed out by prominent finance lawyer Scott Johnsson, the changes include some new risk factors. Some of these risk…

BlackRock met with SEC officials to discuss spot Bitcoin ETF

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Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to discuss the proposed rule allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, or ETF. According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. It’s unclear how SEC officials responded to the two proposed models or if they intend to approve a spot BTC ETF after numerous delays and rejections. Looks like @BlackRock also…

BlackRock and Grayscale meeting with SEC about Bitcoin ETF issuance

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Bloomberg Intelligence ETF research analyst James Seyffart reports that BlackRock and Grayscale, two major investment major companies with plans to issue a Bitcoin ETF, have recently met with the SEC. Based on slides that have become public knowledge, Seyffart shows that BlackRock likely prefers in-kind for their offering. In-kind vs. cash In highlighting this announcement, the analyst suggests that this decision makes sense as it is likely the cleanest structure for the company and its investors. The news came alongside a consecutive report that Grayscale, another prominent investment management firm,…

Grayscale Holds Fresh Talks with US SEC Over Bitcoin ETF Approval

On November 20, an SEC memorandum revealed a meeting involving Grayscale CEO Michael Sonnenshein, legal chief Craig Salm, ETF head Dave LaValle, four other executives, and five representatives from the Davis Polk law firm. The discussions centered on NYSE Arca, Inc.’s proposed rule amendment to list and trade shares of the Grayscale Bitcoin Trust (BTC) under NYSE Arca Rule 8.201-E. Grayscale provided details about entering into a Transfer Agency and Service Agreement with BNY Mellon, as outlined in a filing shared by Bloomberg ETF analyst James Seyffart. The agreement designates…

Spot Bitcoin ETF Odds ‘Might Have Increased To 100%’: Matrixport

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Matrixport, a leading digital finance platform, today, November 22, released a comprehensive research note focusing on the significant implications of yesterday’s developments in the crypto industry, particularly regarding the prospects of a spot Bitcoin Exchange-Traded Fund (ETF) in the United States. Following the guilty plea of Binance CEO Changpeng Zhao (CZ) and the substantial financial settlements involved, Matrixport suggests that the path for approving a spot Bitcoin ETF might have become significantly clearer. The note highlights the regulatory crackdowns and compliance upgrades in the crypto sector, indicating a shift towards…

Grayscale met with SEC to discuss spot Bitcoin ETF details

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Executives from crypto asset manager Grayscale have met with the Securities and Exchange Commission to discuss details of its flagship Bitcoin (BTC) trust, which the firm wants to convert to a spot Bitcoin exchange-traded fund (ETF). A Nov. 20 SEC memo disclosed Grayscale CEO Michael Sonnenshein, legal chief Craig Salm, ETF head Dave LaValle and four other executives, along with five Davis Polk law firm representatives, met with the SEC’s division of trading and markets. The memo said discussions “concerned NYSE Arca, Inc.’s proposed rule change to list and trade…

Spot Bitcoin (BTC) ETF is a Buy the News Event, but Coinbase (COIN) Could be Pressured

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Those developments were “buy the rumor, sell the news” events, wrote Morehead Monday. “This time is different,” he said, well aware of the red warning flag typically raised upon utterance of that phrase. Neither of those events, he argued, had any impact on the actual demand for bitcoin. A BlackRock ETF, on the other hand, “fundamentally changes access to bitcoin … It will have a huge (positive) impact.” Original

ARK Investment Amends ARK 21Shares Spot Bitcoin ETF Proposal for Third Time

The third amendment is another attempt for ARK Invest to ensure that the proposal for the ARK 21Shares spot Bitcoin ETF will pass the SEC’s screening. ARK Investment Management has submitted another amendment to the US SEC for its ARK 21Shares spot Bitcoin ETF proposal. The application, created along with European crypto asset manager 21Shares, is one of several proposals gunning for SEC approval as soon as possible. ARK Investment Management was founded by Cathie Wood, a known Bitcoin bull. ARK 21Shares Adjustments The prospectus filed on Monday is ARK Invest…