Spot Bitcoin ETFs Expected to Begin Trading on Thursday
According to recent media appearances, the CEOs of two spot Bitcoin ETF applicants believe that their firms’ ETFs will start trading on Thursday. Jan van Eck, CEO of VanEck, stated during a CNBC interview that he believes trading will begin for their spot Bitcoin ETF on Thursday. Similarly, Steven McClurg, co-founder and CIO of Valkyrie, expects the SEC to approve the ETFs by Wednesday and trading to commence on Thursday morning.
Gensler’s Warnings About Spot Bitcoin ETFs
These statements come in the wake of SEC Chair Gary Gensler’s recent warnings about cryptocurrency investments. Gensler cautioned investors about the risks involved in crypto asset securities and emphasized that regulators may not be able to help recover lost investments. Some social media users interpreted these warnings as a sign of potential upcoming spot Bitcoin ETF approval.
“Knocking the Door of SEC Approval”
As spot Bitcoin ETF approvals loom, Bitcoin’s 50-week moving average crossed above its 200-week moving average, creating a bullish indicator known as a “golden cross.” Additionally, several spot Bitcoin ETF hopefuls have significantly reduced their proposed management fees to gain a competitive edge. Analysts believe that Bitcoin ETFs are on the verge of receiving SEC approval.
Hot Take: Spot Bitcoin ETFs Poised for Trading
The CEOs of spot Bitcoin ETF applicants are optimistic about their ETFs starting trading this week. The expectation is that trading will commence on Thursday following potential SEC approval. This comes amid warnings from SEC Chair Gary Gensler about the risks associated with crypto investments. Gensler’s statements have fueled speculation among social media users regarding the imminent approval of spot Bitcoin ETFs. With positive market indicators such as the “golden cross” and competitors’ fee reductions, analysts believe that Bitcoin ETFs are on the verge of receiving regulatory approval. The crypto community eagerly awaits the launch of these ETFs as they offer a new investment avenue for Bitcoin.
By
By
By
By
By