The Bitcoin (BTC) price has tumbled more than 6% from the mid-$46,000s to the mid-$43,000s, as the post-spot Bitcoin ETF “sell-the-fact” reaction comes in.
In 2013 an entity affiliated with the Winklevoss twins sent the first application to The United States Securities and Exchange Commission (SEC) to create a spot Bitcoin (BTC) exchange-traded fund (ETF). The SEC officially approved spot Bitcoin ETFs on Jan. 10 this year.
BlackRock’s new spot bitcoin exchange-traded fund (ETF) is off to a powerful start, holding 2,620 bitcoins worth over $120 million after just one day of trading. The ETF, trading under the ticker IBIT, saw immense trading volume on its first day worth $1 billion.
The new spot Bitcoin ETFs made a significant impact when they debuted on Wall Street on Thursday, collectively amassing $4.5 billion in volume on their first day of trading.
While the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States will further lead to the institutionalization of Bitcoin, Kevin O’Leary — a Canadian venture capitalist and CNBC personality — told Cryptonews that institutions won’t want to use a spot Bitcoin ETF to invest in the asset class. He said:
Investment management company, CoinShares has exercised the right to acquire Valkyrie Funds, a unit of Valkyrie Investment Inc. following the approval of its spot Bitcoin (BTC) ETF by the Securities and Exchange Commission (SEC).
Contrary to expectations of a massive influx of fresh capital, JPMorgan analysts suggest that spot Bitcoin (BTC) ETFs may experience up to $36 billion in inflows redirected from existing cryptocurrency instruments.
The newly approved spot Bitcoin exchange-traded funds (ETFs) have witnessed a remarkable trading volume, exceeding $4 billion on their first day in the market.
European crypto enthusiasts are on the sidelines watching as the U.S. Securities and Exchange Commission (SEC) approved eleven spot bitcoin exchange-traded funds experiencing FOMO (fear of missing out) – it’s worth noting there are already plenty of products available in Europe.
The US-based crypto exchange Coinbase is facing increased competition and potential challenges to its market dominance following the approval of spot Bitcoin exchange-traded funds (ETFs) in the US.
BlackRock’s iShares Bitcoin Trust took an early lead in trading volume as 11 spot bitcoin ETFs open their doors to the investing public. The nine trillion dollar asset manager attracted trading volume of $17.9 million in the first hour.
Bitcoin, the world’s largest digital cryptocurrency, recently witnessed a significant surge, exceeding $47,000. This remarkable increase is attributed to the U.S. Securities and Exchange Commission (SEC) approving 11 new Bitcoin Exchange-Traded Funds (ETFs), marking a pivotal moment in the mainstream acceptance of cryptocurrencies as viable investment options.
SEC Commissioner Mark Uyeda, while voting in favor of these landmark approvals, has publicly voiced reservations regarding the decision-making process adopted by the commission.
Securities and Exchange Commission (SEC) Chair Gary Gensler maintains a cautious stance on crypto despite the recent approval of spot Bitcoin exchange-traded funds (ETFs) by the agency he leads.