The idea of batch approvals was first mentioned by ARK's Cathie Wood in August. She said the SEC might approve multiple BTC ETF filings simultaneously, but not within the expected deadline.
The major Wall Street regulator has reportedly instructed spot Bitcoin ETF applicants to amend their filings and use the cash creation and redemption model.
Saylor was once against Bitcoin, and in one of his previous tweets, he predicted the crypto asset would suffer the same fate as online gambling.
Novogratz thinks the approval of the highly anticipated Bitcoin investment vehicle will benefit markets since it will add "more fuel for a fire" that would eventually trigger crypto assets to trade "like a maniac."
BlackRock's decision to change Coinbase's role from a prime broker to a prime execution agent may indicate possible alterations in the perceived responsibilities of Coinbase on the investment giant's iShares Bitcoin Trust, its proposed spot Bitcoin ETF.
Bitcoin ended last week at around $41,400, recording a 5.5% loss from the previous week's closing value of around $43,800. It continued to dip Monday, reaching a weekly low of about $40,425.
Sonnenshein, in an interview, talked about the importance of launching a spot Bitcoin ETF in the U.S., highlighting the magnitude of wealth held within advised assets and the significant opportunity a regulated BTC ETF could offer to tap into these vast resources.
ARK's latest move suggests that the U.S. Securities and Exchange Commission did not budge on its preferred creations and redemptions model.
BlackRock had two choices for its spot Bitcoin ETF application – give in to the SEC's preferred model or wait until the regulator approves in-kind redemption.
Jan van Eck says he does not see another "internet store of value" that will surface and "leapfrog" Bitcoin.
Bitwise predicts Bitcoin to hit a record high surpassing $80,000 next year, crediting this surge to two main factors: the Bitcoin Halving event and the upcoming launch of a spot Bitcoin exchange-traded fund (ETF) in the U.S.
The details were presented by BlackRock to the officials at the U.S. Securities and Exchange Commission (SEC) late last month in its proposed "In-kind Redemption Prepay."
The MicroStrategy co-founder made a bold prediction in the past saying the crypto asset would trade at $5 million and replace gold, and the conditions he enumerated are now nearly met.
In its recent filing, the spot Bitcoin ETF registration underlined that it will only use cash creations in response to the SEC's instruction to use the cash redemption model.
BlackRock once again sat with some SEC officials — something it appears to have been doing regularly over the past weeks as anticipation for the possible SEC decision on spot Bitcoin ETF applications heightens.
Data indicate that investors are still focused on Bitcoin, the world's largest crypto asset by market capitalization, with an inflow of $20 million, recording a year-to-date total of $1.7 billion.
The recent development suggests that the SEC could be ironing out details before finally approving some spot Bitcoin ETF applications.
As the king of crypto briefly sunk below the $41,000 price level, it caused over $270 million worth of long positions to be liquidated.
Bitcoin was trading in the red zone at $43,950, which means the software and business intelligence company is now sitting on an unrealized profit of $2.390 billion.
After BlackRock submitted another amended prospectus last week, VanEck followed suit with its fifth amendment, showing a unique Bitcoin ETF ticker, HODL.
While BlackRock's Bitcoin ETF listing pushed the value of Bitcoin to a new high, Fidelity's listing did not have the same impact on the price of the "king of crypto."
The ongoing discussions include "substantive details, some of which are usually discussed near the end of an ETF application process," a report has claimed.
Bukele said that it has never been El Salvador's objective to sell its Bitcoin and while he confirmed that they are well aware the crypto asset's price will fluctuate, he underlined that it does not impact the country's long-term strategy.
Industry experts and ETF analysts scrutinized the amended prospectus and discovered that BlackRock had seeded its ETF on Oct. 27. It was the same month when the crypto community found the Bitcoin ETF ticker of the firm listed on the website of the Depository Trust and Clearing Corporation.
Over the past weeks, Bitcoin continued to rally, pushing its value up on the anticipation that the U.S. Securities and Exchange Commission (SEC) would soon announce the country's first-ever spot Bitcoin exchange-traded fund.
The substantial Bitcoin investment by MicroStrategy has yielded a significant return, a growth that began under the leadership of its current executive chairman, Michael Saylor, starting in August 2020.
While the act is viewed as operational or part of the process before its launch, for some, it is a positive indication that the U.S. will have a spot Bitcoin ETF very soon.
A report attributed the surge to "a culmination of various factors, including a notable shift in the dynamics of the futures market compared to the spot market."
On the eve of the potential approval of multiple spot Bitcoin ETF filings, rumor has it that the major issue now concerns whether the SEC would allow in-kind creations.
Although timelines on the approval of spot Bitcoin ETF filings are uncertain, Grayscale said it remained "focused on uplisting GBTC to NYSE Arca as a spot Bitcoin ETF."
