Tag: ETF

Solana breaks $20b market cap as ETF buzz fuels Bitcoin over $37k

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The coin was one of the top gainers on Nov. 9 amid a broad market upturn that propelled Bitcoin (BTC) to an 18-month high as crypto’s leading token headed toward $38,000. Bitcoin’s leap above $37,000 for the first time since May 2022 coincided with Solana’s market cap breaking above the $20 billion mark as inflows poured into cryptocurrencies across the board.  The last time SOL boasted a market cap north of $20 billion was in summer of 2022, during Terra’s collapse and caused subsequent bankruptcies among some of the industry’s…

Analysts Identify 8-Day Window for 12 Spot Bitcoin ETF Approvals

The mere possibility of spot Bitcoin ETF approvals has injected fresh optimism into the crypto market. Bloomberg ETF analysts James Seyffart and Eric Balchunas have outlined a unique opportunity for 12 spot Bitcoin ETF filings to gain regulatory approval from the US Securities and Exchange Commission (SEC) within an eight-day window, starting today and extending to November 17. The SEC’s Timely Window The eight-day window for potential approvals comes as a result of the SEC’s extension of the deadline for several pending spot Bitcoin ETF filings, with November 8 marking…

Apart From the Spot ETF Narrative Here Are the ‘Overlooked’ Bullish Tailwinds for Bitcoin

Bitcoin has more than doubled this year, in line with its record of beginning new bull trends in 12 or more months leading up to the reward halving. The fourth halving is due in March/April 2024. The latest cycle, however, looks different than previous ones, thanks to bitcoin’s strengthening safe-haven appeal, according to Noelle Acheson, author of the widely-followed Crypto is Macro Now newsletter told CoinDesk. Source

Bitcoin ETF launch could be delayed more than a month after SEC approval

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With the United States Securities and Exchange Commission’s first window opening up for the approval of a spot Bitcoin ETF, analysts have noted that even if the SEC approves a spot Bitcoin (BTC) exchange-traded fund (ETF), it will be a month before the actual launch. The expected delay in launch following a potential SEC approval would be due to the two-step process of launching an ETF. For an issuer to start a Bitcoin ETF, it must get SEC approval from the Trading and Markets division on its 19b-4 filing and…

Bloomberg Analysts Give Timeline To Spot ETF Approval

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Bitcoin has risen above $36,000 and is currently targeting $37,000 as Bloomberg analysts Eric Balchunas and James Seyffart have revived hopes that a Spot Bitcoin ETF could be approved this year. The analysts maintain their belief of a 90% chance that any of these funds get approved by January 2024.  An Approval Order “Could” Occur This November In a post shared on his X (formerly Twitter) platform, Seyffart highlighted a new research note that he and Balchunas had just worked on. From their research, they noted that there is a…

SEC’s window for Bitcoin ETF approvals to open today

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Bitcoin reached the $36,780 mark as analysts say the SEC has entered a window to approve all the current applications for spot Bitcoin ETFs. Although the crypto market expects the U.S. Securities and Exchange Commission (SEC) to approve multiple spot Bitcoin exchange-traded funds (ETFs) by Jan. 10, 2024, there’s still a possibility the watchdog might do it even earlier. New Research note from me today. We still believe 90% chance by Jan 10 for spot #Bitcoin ETF approvals. But if it comes earlier we are entering a window where a…

SEC in Talks with Grayscale Investments over Bitcoin ETF Push

While the crypto community eagerly awaits the SEC’s decision regarding Grayscale’s ETF application and others, SEC Chair Gary Gensler remains cautious in sharing specific details about the commission’s next steps.  The US Securities and Exchange Commission (SEC) is reportedly in discussions with Grayscale Investments regarding the conversion of the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin Exchange-Traded Fund (ETF).  Grayscale’s Ongoing Talks with the SEC The talks between Grayscale and the SEC are shrouded in confidentiality, but they signify a critical phase in the potential transformation of the crypto…

Bitcoin ETF excitement returns as BTC price nears $37K

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Bitcoin (BTC) neared $37,000 on Nov. 9 as a fresh BTC price surge appeared to take traders by surprise. BTC/USD 1-hour chart. Source: TradingView U.S. “carrying” Bitcoin upside Data from Cointelegraph Markets Pro and TradingView showed BTC/USD passing $36,000 after the daily close. The pair went on to reach $36,864 on Bitstamp, making its highest level since early May 2022. The day prior, concerns among market participants focused on bid liquidity heading lower, potentially allowing for a retest of $34,000. This ultimately failed to occur, with upside entering during United…

U.S. SEC Said to Open Talks with Grayscale (GBTC) on Spot Bitcoin (BTC) ETF Push

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“There are still things that have to be worked through,” Salm said in an interview, also noting that others among the applicants for bitcoin ETFs – a group that includes financial giants BlackRock and Fidelity – seem to be making progress in SEC talks with their own registrations. “Overall, it’s been good engagement, and it’s a matter of when, not a matter of if anymore.” Original