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Spot Bitcoin

All articles tagged with #spot bitcoin

cryptocurrency2 years ago•4 min saved

"SEC's Potential Approval of First Bitcoin ETF Could Shape Crypto History"

The Securities and Exchange Commission (SEC) is expected to approve the first "spot" bitcoin exchange-traded fund (ETF) by January 10, 2024, according to sources. This would mark a major step towards mainstream adoption of cryptocurrency in the US. Around a dozen companies, including BlackRock and Fidelity, have applied for a spot bitcoin ETF, which would provide retail investors with exposure to bitcoin at a lower cost. However, the SEC is insisting that applicants use cash to buy shares of the ETF, rather than the underlying asset, which could have tax implications for investors. The SEC's reluctance to allow brokers to trade spot bitcoin directly may be due to concerns about money laundering and market manipulation. The recent ruling by the D.C. Court of Appeals, which criticized the SEC's denial of Grayscale's application for a spot bitcoin ETF, is seen as a precedent that money managers will rely on if their applications are rejected.

via Fox Business|

#bitcoin-etf #cryptocurrency #regulation

cryptocurrency2 years ago•0 min saved

"Spot Bitcoin ETFs Gain Momentum as SEC Engages in Key Discussions"

The first-ever spot Bitcoin exchange-traded funds (ETFs) are expected to arrive in the US soon, after a decade-long wait. However, the real challenge lies in obtaining approval from the Securities and Exchange Commission. With numerous issuers vying for approval, it remains to be seen which ones will succeed and how these ETFs will differentiate themselves. The article also raises questions about the prospective investors for these ETFs.

via Bloomberg|

#bitcoin #cryptocurrency #etfs

cryptocurrency2 years ago•4 min saved

"Spot Bitcoin ETF Approval: A Potential Game Changer for Crypto Markets"

Industry experts believe that if a spot bitcoin ETF is approved by the SEC, it could be one of the largest launches in history. The introduction of spot bitcoin products could lead to a reallocation of billions of dollars from existing bitcoin investment products such as Grayscale Investments' Bitcoin Trust (GBTC) and Canadian bitcoin ETFs. A physically backed ETF that closely tracks the bitcoin price and provides bankruptcy protection for the fund issuer is expected to generate significant demand, especially if launched by a major asset management firm like BlackRock. The approval of a spot bitcoin ETF could also trigger a reshuffling of assets and potentially attract institutional investors and financial advisers who have been waiting for a reputable player to enter the market.

via Blockworks|

#bitcoin-etf #blackrock #cryptocurrency

cryptocurrency2 years ago•1 min saved

Bitcoin ETF Approval Prospects Rise Despite SEC's Caution

The probability of the U.S. Securities and Exchange Commission (SEC) approving a spot bitcoin exchange-traded fund (ETF) is fairly high, according to brokerage firm Bernstein. While the SEC has allowed futures-based bitcoin ETFs, it has expressed concerns about the reliability and potential manipulation of spot prices. The regulator has yet to approve a spot bitcoin ETF, despite receiving multiple applications. The industry has suggested a surveillance agreement between spot exchanges and regulated exchanges as a potential solution. The lack of a spot bitcoin ETF has led to the growth of over-the-counter products like the Grayscale Bitcoin Trust, which the SEC would prefer to replace with a regulated ETF.

via CoinDesk|

#bitcoin-etf #cryptocurrency #grayscale-bitcoin-trust

cryptocurrency2 years ago•5 min saved

"BlackRock Bitcoin ETF Approval Sparks Crypto Surge and ARK's Potential Spot"

Speculation is growing that BlackRock, the world's largest asset manager, may be on the verge of obtaining approval for a spot bitcoin exchange-traded fund (ETF) in the US. The Securities and Exchange Commission (SEC) has previously rejected applications for such funds due to concerns about fraud and manipulation in the spot bitcoin market. However, BlackRock's application differs in that it includes a surveillance-sharing agreement with a US-based spot trading platform, potentially addressing the SEC's concerns. The approval of a BlackRock bitcoin ETF could lead to increased buying and a potential surge in the price of bitcoin. Other asset managers, including Invesco and WisdomTree, have also refiled their applications in the hopes of a change in the SEC's stance.

via Financial Times|

#bitcoin #blackrock #cryptocurrency