Bitcoin Wikipedia Page Hits 2023 High with 7,830 Views
The Wikipedia page dedicated to Bitcoin saw a significant increase in daily traffic, reaching a peak of 7,830 views on September 8th. This surge in interest is likely due to the anticipation of a Bitcoin-based ETF launch, prompting people to seek more information about the cryptocurrency. The upcoming Benzinga’s Future of Digital Assets conference will also focus on Bitcoin and the prospects of an ETF. In other news, spot cryptocurrency volumes dropped below $10 billion for the first time since November 2020, with Binance experiencing a sharp decline after its BTC spot trading promotion ended.
Franklin Templeton Applies for Bitcoin ETF
Financial institution Franklin Templeton recently applied to offer a spot Bitcoin ETF, joining other asset managers such as BlackRock, ARK Invest, Grayscale, and WisdomTree. With over $1.4 trillion in assets under management, Templeton aims to provide institutional investors direct access to Bitcoin. The proposed “Franklin Bitcoin ETF” will be listed on the Cboe BZX Exchange and Coinbase will serve as the custodian for the fund’s Bitcoin holdings. However, the application still needs approval from the SEC, which has been delaying decisions on several ETF applications from various managers.
Gary Gensler Discusses Crypto Regulation and Spot ETF Challenges
SEC Chairman Gary Gensler testified before the Senate Banking Committee and emphasized the need for close monitoring of the cryptocurrency market. However, he avoided directly addressing questions about approving cryptocurrency ETFs. When asked about evaluating a crypto ETF, Gensler mentioned ongoing reviews and awaiting recommendations from Commission staff. Analysts noted that his response lacked clarity and seemed evasive. This comes after Grayscale requested a meeting with the SEC due to delays in reviewing their application, which has taken three times longer than usual. Gensler’s stance on crypto ETFs remains uncertain.
Hot Take: Increasing Interest in Bitcoin Reflects Growing Demand for ETFs
The surge in views on the Bitcoin Wikipedia page and the increasing number of asset managers applying for Bitcoin ETFs reflect the growing demand for cryptocurrency investment options. As the anticipation for a Bitcoin-based ETF builds, investors are seeking more information to understand the intricacies of the popular cryptocurrency. However, regulatory hurdles and delays in SEC decisions create uncertainty around the approval of these ETFs. Gary Gensler’s evasive response further adds to the ambiguity. The future of digital assets, including Bitcoin ETFs, will be a topic of discussion at the upcoming Benzinga’s Future of Digital Assets conference. Overall, the interest in Bitcoin and its potential ETF signals a significant shift in mainstream acceptance and adoption of cryptocurrencies.
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