Bitcoin Jumps, Then Dumps to $45K as Fake News About Spot Bitcoin Approval Liquidates $50M
The immediate price reaction showed that bitcoin’s price might be capped if a real approval arrives, one analyst noted.
The immediate price reaction showed that bitcoin’s price might be capped if a real approval arrives, one analyst noted.
The U.S. Securities and Exchange Commission has not yet approved any spot bitcoin ETF applications.
Analysts from Standard Chartered, Galaxy and Corestone predict that a spot bitcoin ETF could see over $1 billion in inflows over just the first quarter.
The filings indicate that the two entities were among the prospective issuers that the U.S. Securities and Exchange Commission (SEC) sent comments in the past 24 hours.
With a Wednesday deadline looming, the regulator sent comments just hours after would-be issuers filed documents detailing their fees.
While the industry eagerly awaits the U.S. regulator’s decision on spot bitcoin ETFs, Gary Gensler is on X warning investors that crypto is rife with scams.
The latest price moves in crypto markets in context for Jan. 8, 2024.
Releasing them suggests they’re confident the SEC will approve the first U.S. spot bitcoin ETFs soon.
The agency contends last week’s court ruling that offerings from Terraform were securities should help make its case that the exchanges traded unregistered securities.
Receipts Depositary Corp. aims to address the institutional desire for bitcoin investments that may not be satisfied by a spot ETF.