European Cryptocurrency-Related ETP Net Inflows Reached 150 Million Euros in June
According to Morningsta data, the flow of trading products related to cryptocurrency exchanges in Europe has increased since BlackRock submitted a Bitcoin ETF application in the United States. The net inflow of cryptocurrency-related ETPs registered in Europe in June reached 150 million euros, a new high since March 2022. According to CoinShares data, a similar trend has also appeared globally, with a total capital inflow of 610 million US dollars (560 million euros) in June and July.
SEC delays decision on Ark Investment's proposed Bitcoin ETF
The US Securities and Exchange Commission (SEC) has delayed its decision on the proposed spot Bitcoin ETF by Ark Investment Management. The SEC announced a 21-day comment period for the ARK 21Shares Bitcoin ETF in a statement on August 11. The company first applied for a spot Bitcoin ETF in May. The SEC has until January 2024 to make a final decision and noted that regulation of the spot Bitcoin market is not a requirement for approval. Other large firms, including BlackRock, have also applied for spot Bitcoin ETFs, and some have updated their applications to include Coinbase as a custodian.
Chances of Approval for Bitcoin ETF in the US Increase to 65%
According to Bloomberg ETF analysts, the chances of a spot Bitcoin ETF being approved in the US have increased from 1% to 65% in recent months due to new developments in the crypto market and the refiling of ETF applications by Blackrock and other institutional giants. The timing of the Grayscale case dates and their victory over the SEC in Federal court could also play a role in the approval of a Bitcoin ETF. The spot Bitcoin ETF race has attracted the interest of major financial institutions, and some analysts believe that institutional giants like Blackrock could be the key to approval.
BlackRock and other financial firms compete to launch first Bitcoin ETF with Coinbase as key partner
BlackRock and other major players on Wall Street are vying to offer the first Bitcoin ETF on the spot market, with Coinbase as their surveillance-sharing partner and custodian. Despite facing a lawsuit from the SEC over unregistered securities, Coinbase is still considered a legitimate and crucial institution by those competing in the ETF race.
BlackRock Aggressively Builds Asia Presence as Bitcoin ETF Approval Looms
BlackRock, the world's largest asset manager, has appointed two new executives to its Asia team, with Dennis Quah taking on the role of Singapore Wealth head and Mandy Lui becoming head of Greater China Wealth. Quah will focus on building partnerships with insurers, consumer banks, and private banks, while Lui will lead the department from Hong Kong.
Regulatory Decisions and Altcoins: A Look at the Impact on Crypto Market Movement
The recent ruling by a US judge that XRP is not a security and the acceptance of BlackRock's bitcoin ETF application by the SEC has caused a 25% surge in XRP's price and increased volatility in digital assets. According to Greg Magadini from Amberdata, regulatory events have a significant impact on prices and movement in the crypto market.
SEC Accepts Valkyrie's Bitcoin ETF Proposal for Review, Second in a Week
The U.S. Securities and Exchange Commission (SEC) has accepted a second application for a Bitcoin ETF to be reviewed within a week. Valkyrie's proposal for a spot Bitcoin ETF, the Valkyrie Bitcoin Fund, was added to the SEC's official docket on Monday. The proposal was resubmitted on June 21, just five days after BlackRock's ETF proposal, and includes Coinbase as a "surveillance-sharing" partner.
SEC Begins Review of Five Bitcoin ETF Applications, Including VanEck and Invesco Galaxy
The SEC has begun reviewing the latest bitcoin ETF applications, but the official review process won't start until the filings are published in the federal register. The regulator has requested public comments on all five of Cboe's ETF applications, including Wise Origin, WisdomTree, VanEck, Invesco Galaxy, and ARK 21Shares.
Bitcoin's MACD Indicator Shows Signs of Potential Growth Amid Resistance at $30,000 Mark
The Moving Average Convergence Divergence (MACD) suggests that there may be potential growth in the Bitcoin market, as it has shown an upside MACD cross. This technical analysis tool is commonly used by traders to identify buy and sell points and can be applied to cryptocurrency.
BlackRock and Bitwise Compete to Launch First Bitcoin ETF in the US
BlackRock and Bitwise are competing to introduce the first Bitcoin ETF in the US, with both firms seeking SEC approval. BlackRock's revised application for the iShares Bitcoin Trust includes a "surveillance sharing" clause, partnering with Coinbase crypto exchange to monitor and report potential illicit activities. Bitwise has also received acknowledgment for its spot Bitcoin ETF application, adding to the growing list of contenders.
