In the race for ETF dominance, participants are scrambling, awaiting approval from the regulatory authorities. The billion-dollar industry has everyone on edge as crucial deadlines approach.
Hashdex Rises Again
Crypto heavyweight Hashdex has re-entered the ETF competition, submitting a revised application for a Bitcoin futures ETF to the U.S. SEC. Tidal Financial Group now oversees the updated bid, a result of the merger of Teucrium Trust and Tidal Trust.
Countdown Begins!
Anticipation is high within the crypto community for the potential approval of spot Bitcoin ETFs. The deadline for comments on Hashdex’s filing is January 5, setting the stage for potential SEC endorsement between January 5-10, 2024.
ARK Invest in the Mix
ARK Invest, led by Cathie Wood, plans to submit its Bitcoin ETF application on January 10th, adding suspense to the narrative. Discussions with BlackRock have focused on the iShares spot Bitcoin ETF proposal.
Analyst Insights and Speculations
ETF analyst James Seyffart suggests the SEC might approve multiple spot Bitcoin ETF proposals in early January. Finance lawyer Scott Johnsson supports SEC filings hinting at fund approvals around January 10.
Bitcoin Is On the MoveΒ
The cryptocurrency market saw a surge in Bitcoin’s value, reaching $39,000, sparked by remarks from Federal Reserve Chairman Jerome Powell signaling a pause on future rate hikes. Reports from Matrixport suggest Bitcoin’s value could reach $60,000 before the next anticipated halving in April 2024. The surge led Bitcoin’s price to rise by 3% in the last 24 hours, trading at $38,744.
Hot Take
Crypto enthusiasts are eagerly awaiting potential SEC endorsements for spot Bitcoin ETFs, with the industry heating up as heavyweight contenders re-enter the race and market indicators signal positive upward momentum for Bitcoin. So, who will emerge victorious in this high-stakes ETF competition? Only time will tell.
Cino Gaperi stands out as a prominent crypto analyst, accomplished researcher, and adept editor, making significant contributions to the field of cryptocurrency. With a strong background in crypto analysis and research, Cino’s insights delve deep into the intricate aspects of digital assets, appealing to a diverse audience. His keen analytical skills are complemented by his editorial proficiency, allowing him to distill complex crypto information into easily digestible content. Cino’s contributions serve as a valuable compass for both seasoned enthusiasts and newcomers, guiding them through the dynamic landscape of cryptocurrencies with well-researched perspectives. With a commitment to precision, he empowers informed decision-making within the ever-evolving crypto sphere.
