Bitwise Asset Management has withdrawn its application with the SEC to list an exchange-traded fund (ETF) that would be indexed to the market capitalization of Bitcoin and Ether. The firm said the decision was made given concerns over “market structure and investor protection issues.”
Barry Silbert, CEO of Digital Currency Group and Grayscale Investments, recently dropped some hints about a timeline for a potential Bitcoin exchange-traded fund (ETF). In a recent interview he suggested that a decision may be on the horizon.
Bitcoin Cash saw a jump of 17% on Tuesday, after Grayscale Investments won its case against the US Securities and Exchange Commission (SEC) over their Bitcoin ETF application.
Bloomberg Intelligence analysts have stated that a Bitcoin ETF could launch this week in the U.S., potentially providing a much-anticipated boost to the crypto market. Analysts are optimistic that regulatory approval could pave the way for investors of all levels to participate in the Bitcoin market.
Following the launch of the world’s first regulated Bitcoin ETN on Switzerland’s SIX Exchange last month, Europe now has its first spot Bitcoin ETF listed on Euronext Amsterdam. The ETF will enable investors to gain exposure to Bitcoin through a traditional financial instrument.
The global cryptocurrency market has been on the edge of its seat, waiting to hear the final word on a Bitcoin Exchange-traded Fund (ETF). After the approval of Bitcoin ETFs in Europe recently, the discussion of a similar possibility in the US is gaining traction.
The SEC is looking into approving Ethereum-based Exchange Traded Funds (ETFs) for the US financial market, and according to reports, they may act faster than usual. It remains to be seen if this is the new norm for cryptocurrency-based finance.
A spot Bitcoin ETF is an exchange-traded fund that tracks the price of Bitcoin without owning the underlying asset. Investors who trade shares of the fund will gain exposure to the cryptocurrency without having to buy it directly.
The launch of Europe’s first Bitcoin Exchange Traded Fund (ETF) has been met with disappointment as BTC prices dropped $1.5K since its debut. But could Bitcoin ETFs be “sell-the-news” events? Investors will need to assess if these new instruments service the crypto market effectively.
The SEC has had a long-awaited decision to make, as BlackRock’s Bitcoin ETF application has awaited their approval for some time. Now, “the time is ripe for the SEC to take the win” and approve BlackRock’s entry into the Bitcoin ETF market.