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Bitcoin (BTC) price surged to above $48,000 again on Thursday as spot Bitcoin ETFs made their market debut following SEC’s approval on January 10, 2024. BlackRock’s Bitcoin ETF ($IBIT) traded $7.5M shares within the first 10 minutes as spot ETFs roared into the ecosystem. Bitcoin’s price shot past the $48,000 level on Thursday as the market opened to welcome the first trading day of spot Bitcoin ETF s in the US. The benchmark cryptocurrency’s price was up 8.8% to $48,875 at the time of writing, with a market capitalization of about $950 million. The price surge coincided with a stellar start to Bitcoin ETFs trading as BlackRock’s IBIT recorded an impressive $7.5 million traded shares within the first 10 minutes of going live. BlackRock’s $IBIT on fire With 20 minutes in, Bloomberg ETF analyst Eric Balchunas pointed out that volume was “big” and was set to outpace the record the ProShares Bitcoin Strategy ETF (B...

In response to recent speculation, Bloomberg Analyst Erich Balchunas has stated that there is nothing to indicate an impending Spot Bitcoin ETF rejection. Balchunas responded to the recent Matrixport report predicting a denial of all ETF applications. Specifically, he stated, “We have heard nothing to indicate anything but approval” for the investment product.  The speculation first arose when Matrixport’s Markus Theilen reported that a rejection was likely. Moreover, he cited the failure of applicants to meet “critical requirements” from the US Securities and Exchange Commission (SEC). However, Theilen’s report has gone against wider market expectations that approval is likely.  JUST IN: Senior Bloomberg Analyst says "we have heard nothing to indicate anything but approval" for Spot # Bitcoin ETF . — Watcher.Guru (@WatcherGuru) January 3, 2024 Also Read: Bitcoin Price Falls Amid Speculation of ETF Rejection Bloomberg A...

Bitfinex analysts have published a new answer about the state of the crypto currency market . The Bitfinex Alpha report contains a forecast for 2024. In it, experts remain optimistic about the prospects for Bitcoin (BTC) and other crypto assets in general. They estimate that the market capitalization of the cryptocurrency sector could increase to $3.2 trillion next year. “Looking ahead to 2024, and contingent upon market conditions, we anticipate that the number of global crypto currency owners could escalate to between 850 and 950 million (from 575 million currently).” Bitfinex Alpha report Regarding the Crypto Fear and Greed Index, experts predict “extreme greed” sentiment in 2024, which will correlate with new BTC highs in the middle of the bull market. Source: Glassnode Additionally, as institutional investors increase their exposure to crypto assets, catalyzed by the long-awaited spot Bitcoin ETF, there could be some capital shift into higher-risk crypto assets next...

Bitcoin ($BTC) jumped 5% to above $43k on Tuesday as markets reacted to news around BlackRock’s spot Bitcoin ETF filing. An analyst says the latest amendment to BlackRock’s proposal means an approval is as good as done. Positive sentiment has altcoins also bouncing higher, and Pullix ($PLX) looks poised as presale surpasses $800k. Bitcoin ($ BTC ) bounced higher on Monday after the weekend’s retreat to below $41k, with the market’s reaction to the latest spot Bitcoin ETF news lifting altcoins. Elsewhere in the market, the Pullix ($PLX) presale accelerated as stage 3 surpassed the $800k raised mark. What does the highly anticipated ETF approval mean for the crypto market? Could $PLX benefit from this? Bloomberg’s Eric Balchunas says spot Bitcoin ETF “debate over” On Monday, BlackRock filed an amended S-1 application for its spot Bitcoin ETF proposal. Instead of its earlier version’s in-kind redemption model,...

Explore the dynamics behind Bitcoin’s bullish run and the growing anticipation around a U.S.-based Bitcoin ETF. A deep dive into market trends and predictions. Over the past few days, Bitcoin (BTC) has demonstrated significant resilience and growth, marking a noteworthy trend in the cryptocurrency market. Amid a surge in trading volume, BTC price reached its fresh 52-week high of $37,926 on Nov.9. However, amid the volatility, the price retraced and trading at $37,100 as of Nov. 10. BTC price chart | Source: CoinMarketCap This recent rise is partly attributed to a “short squeeze” – a market phenomenon where the price of an asset jumps higher than expected, forcing short sellers to cover their positions, further driving the price upward.  The ripple effects of Bitcoin’s surge were also felt in the U.S. stock market, particularly among crypto-centric companies. Shares of prominent firms such as Coinbase and MicroStrategy showed notable increases, w...

Steven McClurg, co-founder of Valkyrie Investments, believes the U.S. Securities and Exchange Commission (SEC) will approve multiple spot Bitcoin exchange-traded fund (ETF) applications in November 2023.  In his assessment, firms have addressed all the issues of market manipulation raised by the regulator.  By McClurg’s estimation, the regulator may send another round of comments to those who submitted for the ETFs in the next one to three weeks, followed by approval of 19b-4 rule changes in November 2023.  You might also like: Invesco and Galaxy’s spot Bitcoin ETF listed on DTCC site However, the market will likely see spot Bitcoin ETFs in February 2024. This comes after McClurg expressed belief in a Bitcoin spot ETF approval by at least Q2 of next year in a recent interview with Forkast. “A late November approval likely means a February launch. Before anything else happens, we get a second round of comments. We’ll probably get those commen...

Bloomberg’s ETF analysts haven’t ruled out the possibility that SEC Chair Gary Gensler may reject pending spot Bitcoin ETF applications at the eleventh hour. There’s a remote possibility that Gary Gensler, chair of the U.S. Securities and Exchange Commission, could abruptly deny all pending spot Bitcoin (BTC) ETF applications, a move described as “amazingly sadistic” by Bloomberg ETF analysts . On Oct. 31, ETF commentator Dave Nadig took to X (formerly Twitter) to question senior Bloomberg ETF analysts James Seyffart and Eric Balchunas, speculating whether SEC Chair Gary Gensler might be accumulating spot Bitcoin ETF applications, only to collectively reject them in a move he dubbed a “semi-comedic rug-pull .” I'm sure it will be much more boring than this — but sometimes it does feel like this is all a setup for a giant Gensler semi-comedic rug-pull . — Dave Nadig (@DaveNadig) October 30, 2023 Responding to the comment,...

Grayscale secured a pivotal victory against the SEC, paving the way for the U.S.’s first Bitcoin spot ETF and igniting a surge in Bitcoin and other cryptocurrency prices. In a milestone development, Grayscale Investments LLC secured judicial backing for the initiation of a Bitcoin spot exchange-traded fund (ETF) in the United States. A panel of three federal judges in Washington effectively annulled the U.S. Securities and Exchange Commission’s prior decision to prevent the ETF from going forward. This decision has acted as a catalyst, triggering Bitcoin’s price to ascend significantly in its immediate aftermath. JUST IN The D.C. Circuit ruled in favor of @Grayscale in our lawsuit challenging the SEC's decision to deny $GBTC's conversion to an ETF! Thank you to everyone who has been on this journey with us, especially our investors. We are grateful for your support and… — Sonnenshein (@Sonnenshein) August 29, 2023 The U.S. Court of Appeals for the ...

Cameron Winklevoss, a co-founder of Gemini, has expressed his disappointment with the recent decision by the US Securities and Exchange Commission (SEC) to reject a bitcoin exchange-traded fund (ETF). According to Winklevoss, this decision is a major setback for investors in the United States. Winklevoss argues that the SEC has been steering investors towards unregulated and potentially harmful cryptocurrency products for the past decade. It has been ten years since the Winklevoss twins first sought approval for their ETF from the SEC, and on July 2, they criticized the SEC for repeatedly denying spot bitcoin ETFs. Today marks 10 years since @tyler and I filed for the first spot Bitcoin ETF. The @SECGov's refusal to approve these products for a decade has been a complete and utter disaster for US investors and demonstrates how the SEC is a failed regulator. Here's why: -"protected"… pic.twitter.com/xmK1xo1iX8 — Cameron Winklevoss (@cameron) July 2, 2023 ...