ETF Financial News

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Spot Bitcoin exchange-traded fund (ETF) fee war has commenced before the US Securities and Exchange Commission (SEC) has even approved the product.

Bitcoin’s price has soared to $47,000, marking its highest level since April 2022, driven by fervent speculation about the U.S. Securities and Exchange Commission (SEC) possibly approving Bitcoin exchange-traded funds (ETFs).

It’s the eighth day of 2024 and there’s already a surprising turn of events: 88% of financial advisors are interested in buying bitcoin.

A series of high-stakes deadlines this week will mark the culmination of a years-long push to launch exchange-traded funds backed by bitcoin in the U.S.

By Rae Wee

Bitcoin, the flagship cryptocurrency, has recently soared above the $47,000 mark, reaching a 20-month high, amidst growing investor optimism. This remarkable rally is largely driven by the buzz around the anticipated approval of Exchange-Traded Funds (ETFs) by financial giants such as BlackRock and Grayscale.

Jay Clayton, former chair of the United States Securities and Exchange Commission (SEC), believes it’s only a matter of time before a spot Bitcoin ETF is approved.

—Name withheld on request There is no better time to start investing. It is very difficult to time the markets and although the markets are due for a correction, it would not be wise to wait further. Also, when it comes to SIPs, there is not much merit in timing the markets.

Gabor Gurbacs, an adviser at asset manager VanEck, has highlighted the psychological hurdle of unit bias among potential Bitcoin (BTC) investors, saying the desire to own complete units can deter people from entering the market.

Breaking its longest winning streak in nearly two decades, the S&P 500 experienced a downturn for the first time in ten weeks last week.

Sundaram Mutual Fund, said, “Sundaram Multi Asset Allocation Fund is an ideal vehicle for long-term risk-adjusted capital appreciation. In addition to the potential of Equity combating inflation in the medium term, Gold also provides a hedge against currency depreciation. Besides, given the inevitability of business cycles, there are always times when the economy goes through a slowdown following rapid expansion – a period in which Gold generally turns out to be the best-performing asset class.

Get your daily, bite-sized digest of blockchain and crypto news – investigating the stories flying under the radar of today’s news.

BlackRock, the world’s largest asset management firm, is reportedly reducing its global workforce by about 3%, just days before the expected approval of the firm’s spot Bitcoin ETF application.

In the rapidly evolving world of cryptocurrency, Bitcoin continues to capture headlines and investor interest, trading at $43,548 with a slight decrease of nearly 1% as of Monday. Amidst this fluctuating landscape, the U.S. Securities and Exchange Commission (SEC) has issued a fresh warning about the growing ‘Fear of Missing Out’ (FOMO) in the crypto sector, particularly in the context of burgeoning optimism for spot Bitcoin Exchange-Traded Funds (ETFs).

mutual funds saw an inflow of nearly ₹17,000 crore in the month of December, revealed the data released by the Association of Mutual Funds in India (AMFI) on Monday. Out of the total equity inflow, nearly ₹3,857 crore was into small-cap mutual funds vis-a-vis ₹3,699 crore in the previous month. At the same time, mid-cap funds saw a fall from ₹2,665 crore in November to a nearly half figure of ₹1,393 crore in December.

Bitcoin in the US. Would-be Bitcoin ETF issuers have been given until Monday morning in Washington to submit any last-minute revisions to their pending applications, Bloomberg News has reported. The US Securities and Exchange Commission itself has until Jan. 10 to take action on at least one of those applications, and crypto insiders have speculated the regulator will use that date to announce a slew of decisions at once. There are two technical requirements that must be fulfilled before a spot-backed Bitcoin ETF can start trading. First, the SEC must sign off on so-called 19b-4 filings by the exchanges that would list the ETFs. Second, the regulator must approve the relevant S-1 forms, which are the registration applications from the would-be issuers — a list that includes BlackRock and Fidelity. The SEC is planning to vote on the exchanges’ filings, the 19b-4s, in the coming days, Bloomberg News has reported. The regulator may or may not then take action on the issuers’ applications, the S-1s, around the same time. If the SEC grants both sets of required approvals, the ETFs could start trading as soon as the next business day.

U.S. stocks closed slightly higher on Friday to wrap up the first trading week of 2024, however the major averages suffered their first weekly decline in ten weeks amid growing uncertainty over when the Federal Reserve may begin to cut interest rates.

As the cryptocurrency market buzzes with anticipation, Bitcoin is poised at a crucial juncture, trading at $44,013 with a modest increase of 0.63% on Sunday. In the backdrop of this upward trend, the potential approval of multiple Bitcoin Exchange-Traded Funds (ETFs) is generating excitement. Industry giants BlackRock and Grayscale are gearing up to make significant inroads into the Bitcoin ETF space.

Grayscale Investments has amended its S-3 filing with the U.S. Securities and Exchange Commission (SEC). This move is aimed at transitioning the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin Exchange-Traded Fund (ETF). Notably, the amendment follows the resignation of Barry Silbert as the chairman of Grayscale, marking a new chapter in the company's direction​​​​.

As the deadline for the Securities and Exchange Commission (SEC) to make a decision on the applications for Bitcoin exchange-traded funds (ETFs) draws near on January 10, 2024, the cryptocurrency and financial worlds are seeing a moment that has the potential to be historic. There has been a great deal of conjecture and debate among investors, legal experts, and industry watchers as a result of this decision, which is very important for the future of cryptocurrency trading in mainstream markets.