Tag: ETF

BlackRock Has 50% Chance of Getting SEC’s Spot Bitcoin ETF Approval

The SEC may prefer to give BlackRock the approval because of its reputation. According to some Bloomberg analysts, BlackRock has a 50% chance of getting approval for its spot Bitcoin Exchange Traded Fund (ETF) from the Securities and Exchange Commission (SEC). On the other hand, they also speculated that Grayscale has a 70% chance of winning its ongoing legal case against the regulator. Eric Balchunas made the comment about the two companies in a tweet after Elliott Stein, a senior litigation analyst for Bloomberg Intelligence, made some comments about them.…

The Surge in Bitcoin ETF Submissions: Implications for the Global Cryptocurrency Market

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The year 2023 has seen a sudden surge in the number of applications for Bitcoin Exchange-Traded Funds (ETFs). Major financial institutions and asset management firms, including Valkyrie, BlackRock, and Fidelity, have joined the race to launch their own Bitcoin ETFs. But what has triggered this sudden explosion in Bitcoin ETF submissions? The primary reason behind this trend is the growing acceptance and recognition of Bitcoin and other cryptocurrencies as legitimate financial assets. Over the past few years, Bitcoin has consistently proven its resilience, bouncing back from numerous market downturns and…

Fidelity Investments on Cusp of Filing Spot Bitcoin ETF with US SEC

Once the investment giant Fidelity files for a spot Bitcoin ETF with the US SEC, it will be the second time following the dismissal of the first one two years ago. The heightened Bitcoin demand by institutional investors has pushed asset investment firms to file for an exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). Already BlackRock Inc (NYSE: BLK), Bitwise, Invesco, and WisdomTree have filed a Bitcoin ETF with the US SEC in order to expose their institutional customers to digital asset classes.  While the…

BlackRock has ‘50% chance’ of getting spot Bitcoin ETF approved: Analyst

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Investment management firm BlackRock has a 50% chance of getting its spot Bitcoin (BTC) Exchange Traded Fund (ETF) approved, says Bloomberg’s senior ETF analyst Eric Balchunas.  Balchunas’ prediction comes following an observation made by Elliott Stein, a senior litigation analyst for Bloomberg Intelligence, who now pegs the chances of Grayscale winning its case against the SEC at 70%. Another reason we give spot bitcoin ETF approval 50% chance is our senior legal analyst @NYCStein gives Grayscale a 70% chance of winning case against SEC, who could approve BlackRock’s ETF as…

Fidelity Jumps Into Bitcoin Spot ETF Race After BlackRock Filing

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Summary: Fidelity could submit a Bitcoin (BTC) spot ETF application as early as Tuesday, The Block reported citing a source. A flurry of BTC ETF applications came from companies like Widomtree and Invesco after BlackRock’s filed on June 15. Bitcoin broke above $30,000 for the first time since April shortly after BlackRock’s filing with the U.S. Securities and Exchange Commission. Asset management heavyweight Fidelity is reportedly working on filing a Bitcoin spot ETF application with the U.S. Securities and Exchange Commission, per crypto news outlet The Block citing a familiar…

Bitcoin bulls grill $31K as Fidelity ETF move fuels BTC price strength

Bitcoin (BTC) challenged $31,000 again after the June 27 Wall Street open as traders hoped for upside continuation. BTC/USD 1-hour chart. Source: TradingView $31,000 returns amid Fidelity Bitcoin ETF rumor Data from Cointelegraph Markets Pro and TradingView showed BTC price action edging higher after holding $30,000 support. The start of U.S. trading saw fresh positive news as asset manager Fidelity Investments reportedly prepared a filing to launch its Bitcoin spot-based exchange-traded fund (ETF). “First it happens slowly, then all at once,” financial commentator Tedtalksmacro wrote in part of a reaction,…

Cathie Wood’s ARK reportedly ‘first in line’ for a spot Bitcoin ETF

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ARK Investment Management, a pro-Bitcoin (BTC) firm founded by veteran investor Cathie Wood, is reportedly ahead in the race for a spot BTC exchange-traded fund (ETF). In mid-June, the investment firm BlackRock filed an application for a spot Bitcoin ETF, triggering notable optimism in cryptocurrency markets. Several reports suggested that BlackRock could become the first issuer of a spot Bitcoin ETF in the United States should it receive approval, but that might not be the case, according to some executives and analysts. “Other applicants will be able to amend their…

The first leveraged bitcoin futures ETF is hitting the market as crypto gains new momentum

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Traders will soon have a new way to bet on bitcoin while Wall Street waits to see if the long-awaited spot bitcoin funds are approved by federal regulators. The Volatility Shares 2x Bitcoin Strategy ETF (BITX) is set to launch on Tuesday. There are already several bitcoin futures funds on the market, including the $1 billion ProShares Bitcoin Strategy ETF (BITO) , but BITX will be the first leveraged ETF in the space. “There’s a big audience that’s already out there for leveraged-type products, and to sort of marry that…