Traders could be betting on a development that buoys hopes for a spot bitcoin ETF in the US. Original
Bitcoin Jumps to Near $28K As Bulls Bet on ETF Approval
Tag: ETF
Grayscale GBTC discount falls to 16% as markets bet on Bitcoin ETF approval
Grayscale’s Bitcoin investment vehicle, Grayscale Bitcoin Trust (GBTC) is trading at its lowest discount in nearly two years, as spot Bitcoin ETFs continue to inch toward potential approval in the United States. The latest data from YCharts shows GBTC’s discount to Bitcoin net asset value (NAV) has narrowed to 15.87% as of Oct. 13. Discount to net asset value (NAV) is a percentage that measures the amount that a mutual fund or ETF is trading below its net asset value. The metric is used to track how far away a…
SEC nixes plans to appeal Grayscale Bitcoin ETF decision
The Securities and Exchange Commission (SEC) will not contest a court ruling favoring Grayscale’s proposed spot Bitcoin exchange-traded fund (ETF). An Oct. 14 update from Bloomberg citing an inside source has revealed that the SEC has chosen not to appeal the District of Columbia Court of Appeals’ decision from August, which argued that the regulator had erred in dismissing Grayscale’s Bitcoin exchange-traded fund application. The SEC isn’t planning to ask a federal appeals court to reconsider a ruling that paved the way for Grayscale to launch a spot Bitcoin ETF…
Bloomberg Analyst Predicts Likelihood Of A Spot Bitcoin ETF By January 2024
Following notable changes to the ARK 21Shares Spot Bitcoin ETF application, Bloomberg ETF analysts James Seyffart and Eric Balchunas have predicted that the US Securities and Exchange Commission (SEC) could approve a fund as early as next year. 90% Chance Of Approval In a post shared on his X (formerly Twitter) platform, Seyffart highlighted his team’s prediction of the 90% chance that a Spot Bitcoin ETF will be approved by Ark Invest’s January 10 deadline. January 10 is the day the SEC is expected to make a final decision (approval…
ProShares prepares to launch unique Short Ether Strategy ETF
ProShares introduced a trio of Ethereum futures ETFs in the recent weeks. Presently, the company is gearing up to provide a distinctive offering. ProShares’ Short Ether Strategy ETF (SETH) from the fund group is poised to commence trading shortly, following the debut of the initial Ethereum futures ETFs by about two weeks. SETH, scheduled for listing on the NYSE Arca exchange, aims to achieve daily investment outcomes that mirror the inverse of the daily S&P CME Ether Futures Index performance, as indicated in a filing made on Friday, Oct. 13.…
SEC reportedly wont appeal court decision on Grayscale Bitcoin ETF
The U.S. Securities and Exchange Commission reportedly has no plans to appeal the recent court decision that favored Grayscale Investments. The ruling requires the SEC to review the firm’s spot Bitcoin (BTC) exchange-traded fund application. Benzinga (and others) reporting that Reuters is reporting that the SEC will NOT be appealing Grayscale case. pic.twitter.com/yd9BBtRwv5 — Eric Balchunas (@EricBalchunas) October 13, 2023 The SEC’s supposed decision not to appeal the D.C. Circuit Court of Appeal’s ruling was highlighted in an Oct. 13 report from Reuters, which cited “a source familiar with the…
SEC reportedly won’t appeal court decision on Grayscale Bitcoin ETF
The United States Securities and Exchange Commission reportedly has no plans to appeal the recent court decision that favored Grayscale Investments. The ruling requires the SEC to review the firm’s spot Bitcoin (BTC) exchange-traded fund (ETF) application. Benzinga (and others) reporting that Reuters is reporting that the SEC will NOT be appealing Grayscale case. pic.twitter.com/yd9BBtRwv5 — Eric Balchunas (@EricBalchunas) October 13, 2023 The SEC’s supposed decision not to appeal the D.C. Circuit Court of Appeal’s ruling was highlighted in an Oct. 13 report from Reuters, which cited “a source familiar…
SEC Decides Not to Appeal Its Bitcoin ETF Court Loss Tied to Grayscale’s GBTC
In August, the D.C. Circuit Court of Appeals ruled that the SEC’s denial of Grayscale Investment’s application to convert the Grayscale Bitcoin Trust (GBTC) into an ETF was invalid and must be reviewed, calling it an “arbitrary and capricious” rejection. The court said that federal agencies are required to “treat like cases alike.” Original
Bitcoin bearishness continues despite halving, ETF hopes: analyst
Popular cryptocurrency analyst Nicholas Merton — known as DataDash on YouTube — remains skeptical on Bitcoin’s near-term prospects despite optimism around the upcoming halving and potential approval of a Bitcoin ETF. In a YouTube video, Merton discussed his views on the future prospects of Bitcoin. He laid out three key reasons why he believes Bitcoin is unlikely to start a new bull market anytime soon. First, he addressed the anticipation surrounding an SEC-approved Bitcoin ETF. Contrary to popular belief, Merton suggests that it may not generate as much new demand…
SEC Deadline on Grayscale's Bitcoin ETF Dispute Approaching at Midnight
The SEC has hours left to seek an appeal of the court order to erase the agency’s rejection of Grayscale’s trust-to-ETF conversion application. Original