Galaxy Digital’s Mike Novogratz predicts that US spot Ethereum ETFs will include staking within 12-24 months after their initial approval, despite the SEC's current opposition. Regulatory and centralization risks remain concerns, but institutional participation could mitigate some issues. Bloomberg analyst Eric Balchunas anticipates the launch of spot ETH ETFs by mid-2025 or mid-2026. Hong Kong's potential approval of spot ETH ETF staking could influence US regulatory decisions.
BlackRock is reportedly preparing a $2 billion investment for its spot bitcoin ETF if approved, potentially surpassing expectations amid a broader cryptocurrency market surge that has seen the combined value of major coins like ethereum, XRP, and solana exceed $1.6 trillion. The crypto community is eagerly anticipating the SEC's decision on the ETF applications, with the potential for significant market impact. Approval could lead to a substantial influx of institutional money into bitcoin, while a denial or delay could negatively affect its price.
John Bollinger, the renowned trader and creator of Bollinger Bands, has predicted a bullish future for Bitcoin, suggesting it will "break higher" from its current price. Despite a recent drop to $40,000, partly due to concerns over the SEC's potential rejection of Bitcoin ETF applications, Bitcoin has shown signs of recovery, breaking the $43,000 resistance level. The cryptocurrency market is closely watching the SEC's upcoming decisions on Bitcoin ETFs, with industry experts maintaining a positive outlook on potential approvals.
The crypto market is abuzz with speculation on the potential impact of a U.S. spot bitcoin ETF approval by the SEC. While some analysts predict a significant influx of institutional investment and a positive long-term value creation, others caution against overestimating the immediate effects, suggesting a possible "sell-the-news" scenario leading to a price drop. Historical ETF launches and market dynamics, such as the upcoming Bitcoin halving event, are being analyzed to gauge possible outcomes. The approval could also enable conservative institutional investors to directly invest in bitcoin, potentially leading to a substantial demand increase. However, the current macroeconomic environment and previous market patterns following major crypto events suggest a complex and uncertain reaction if an ETF is approved.
The cryptocurrency market is poised for a significant change with the anticipated regulatory approval of spot bitcoin ETFs, which will allow direct holding of bitcoin assets. This move is expected to attract institutional investors and potentially increase the inflow of capital into the crypto space. While some analysts predict a short-term "sell-the-news" event, the long-term outlook remains bullish with predictions of bitcoin reaching new all-time highs. The upcoming bitcoin halving event in 2024 is also expected to impact the price and mining dynamics. Despite some concerns about institutional participation potentially harming the bitcoin network, the overall sentiment is that these developments will be positive for the cryptocurrency landscape.
Bitcoin's price surged back to $44,500, recovering from a recent flash crash, fueled by optimism that the U.S. Securities and Exchange Commission (SEC) may soon approve a spot BTC exchange-traded fund (ETF). Despite a survey indicating skepticism among financial advisors regarding a 2021 approval, 88% expressed interest in investing in BTC post-approval. The market anticipates that following a bitcoin ETF, attention may shift to Ethereum, with expectations of spot-based ether ETFs potentially being approved around May.
Grayscale, VanEck, and ARK have registered their Bitcoin ETFs to trade on various exchanges, with Grayscale aiming for NYSE Arca, VanEck for Cboe, and ARK in partnership with 21Shares also for Cboe. These registrations are a step forward, but the SEC's approval is still pending. The industry is highly anticipative of a potential SEC green light, which would allow U.S. investors to gain Bitcoin exposure through ETFs. Despite a recent Bitcoin price drop due to speculation over SEC rejections, the price has since recovered. The SEC has been in talks with exchanges, possibly preparing for Bitcoin ETF listings.
Bitcoin's price saw a rebound, rising by about 3% to $43,870.01, following a previous day's sell-off due to concerns over the approval of a bitcoin ETF by the U.S. Securities and Exchange Commission (SEC). The market is anticipating the SEC's decision, which could come as early as next week, particularly for the Ark 21Shares bitcoin ETF. The potential approval of bitcoin ETFs is expected to be a significant catalyst for Bitcoin's price and could attract a wave of new investors to the crypto market. The overall crypto market also experienced gains, with notable increases in the value of ether, Solana's SOL token, and stocks of companies like Coinbase and MicroStrategy.
The cryptocurrency industry is awaiting the SEC's decision on the approval of 14 spot bitcoin ETFs, which would allow investors to trade bitcoin exposure like a stock, potentially integrating it into mainstream investment vehicles like 401(k)s and IRAs. Wall Street giants such as BlackRock and Franklin Templeton, along with crypto-focused firms, have applied for these ETFs. The SEC has historically denied such applications due to concerns over market manipulation, but there is optimism in the crypto community that the regulator may approve all applications simultaneously. This anticipation has contributed to a significant rise in bitcoin's price, though skepticism remains, with some analysts predicting potential rejections and subsequent price drops. The SEC's first deadline for a decision is January 10, with others extending to April.
Morgan Stanley Executive Chair James Gorman has expressed his view that Bitcoin is a speculative asset but not a fad, and is here to stay. Despite not seeing it as a store of value or a core investment, he acknowledges its persistence in the financial landscape. The discussion around the potential approval of a spot Bitcoin ETF is intensifying, with industry experts predicting it could lead to increased institutional and high-net-worth investor demand, and pave the way for broader market participation, including retirement funds.
Amid a 5% drop in Bitcoin's price following rumors of a delayed U.S. spot bitcoin ETF launch, social media "Buy the Dip" mentions surged to their highest point since March 2021, according to Santiment data. This increase in mentions typically indicates bullish sentiment among traders, although historically it has also preceded further price declines. Despite the initial drop, Bitcoin recovered slightly, trading at $43,200 with a 0.8% gain on the day.
Bitcoin's price experienced a downturn following a report from Matrixport suggesting potential SEC rejection of spot BTC ETF applications, which was later refuted by Bloomberg's ETF analyst Eric Balchunas. Despite the price drop, technical analysis indicates a bullish divergence, hinting at a possible rally with Bitcoin potentially reclaiming the $45,000 mark. The crypto market remains optimistic about the approval of a spot BTC ETF, especially after a court victory that requires the SEC to review a previously rejected proposal.
Bernstein analysts suggest investing in certain high-risk cryptocurrency stocks, anticipating a potentially explosive year for Bitcoin. They believe that despite the volatility and risks associated with these assets, there could be significant rewards for investors who strategically engage with the crypto market this year.
Bitcoin's price fell by 5.5%, erasing its gains from the new year, amidst a broader market downturn and increased risk aversion. The drop coincides with the Nasdaq's worst day since October and a warning from Richmond Federal Reserve President Thomas Barkin that interest rate hikes are still possible. Investors are also concerned about the potential delay in the approval of a spot bitcoin ETF, which has led to short-term traders unwinding their positions. Despite the recent decline, bitcoin had finished 2023 with a significant gain of 157%.
Jim Cramer, a long-time cryptocurrency skeptic, has acknowledged Bitcoin's resilience on CNBC, calling it a "technological marvel" and recognizing its permanence despite the SEC's opposition. This comes as Bitcoin surpassed $45,000 for the first time since April 2022. Cramer's history of inaccurate predictions has led to an "Inverse Cramer" meme, where people do the opposite of his advice. His recent positive remarks on Bitcoin have stirred concern among some crypto enthusiasts, given his track record. However, Cramer's newfound appreciation for Bitcoin does not extend to the entire crypto market.
