Founder of SkyBridge Capital: GBTC sell-off and FTX bankruptcy asset sell-off are part of the reasons for the decline of BTC
Anthony Scaramucci, founder of SkyBridge Capital, stated that part of Bitcoin's decline since the start of trading of Bitcoin spot ETFs is due to the sell-off of Grayscale GBTC. SkyBridge Capital's trading department noticed that when the US SEC approved these ETFs this week, GBTC holders were selling these stocks and turning to lower-cost alternatives.
South Korea Financial Commission: Will adhere to regulations restricting financial institutions from issuing crypto ETFs
South Korean Financial Services Commission reiterated its commitment to restrict the issuance of cryptocurrency ETFs by financial institutions. The stability of the financial market and the protection of investors are the reasons for maintaining the current restrictions. Currently, South Korea's Capital Market Act limits the underlying assets of investment contracts, including ETFs, to financial investment tools, currencies, and ordinary commodities, but it does not include cryptocurrencies.
About ten fund companies are preparing to launch virtual asset spot ETFs in Hong Kong
As 13 Bitcoin spot ETFs are waiting for approval from the U.S. Securities and Exchange Commission (SEC), Livio Weng, Chief Operating Officer of HashKey Group, revealed in an interview that about ten fund companies are currently preparing to launch virtual asset spot ETFs in Hong Kong, and seven or eight of them are already in the actual promotion stage.
VanEck Advisors: ETFs can solve the “unit bias” problem in investors’ minds
VanEck advisor Gabor Gurbacs explained to us on X platform how ETF can solve the "unit bias" problem for Bitcoin. He said that currently BTC is maintaining a high price of about $44,000, and many people may not know that they can only own a small portion of Bitcoin, or they may not want to hold only a small portion of it. After the ETF is approved, a share may only cost $44, which can solve the "unit bias" problem in the minds of the general public investors.
What are the next steps for the Bitcoin ETF?
Final amendments from asset managers seeking regulatory approval for a spot Bitcoin ETF are due on Jan. 8. Analysts expect trading to begin on Jan. 11.
Final Bitcoin ETF Application Filings Get Posted by Major U.S. Exchanges
Releasing them suggests they’re confident the SEC will approve the first U.S. spot bitcoin ETFs soon.
Better Markets CEO apologizes: The time on the letter opposing the approval of Bitcoin spot ETF is wrong
Non-profit organization Better Markets has sent a letter to the US Securities and Exchange Commission (SEC) opposing the approval of a Bitcoin spot ETF. However, Fox Business reporter Eleanor Terrett and others found that the date on the letter was January 5, 2023. Later, Better Markets CEO Dennis Kelleher apologized on social media, acknowledging that the letter's date was incorrect.
Grayscale: Investors don’t have to take any action if SEC approves spot Bitcoin ETF and allows GBTC to list on NYSE Arca
Cryptocurrency asset management company Grayscale has tweeted that it disclosed specific details about a physical Bitcoin ETF in its recent Q&A information. It was pointed out that if the US Securities and Exchange Commission approves the physical Bitcoin ETF and allows GBTC to be listed on NYSE Arca, investors do not need to take any action. When investors check their holdings of GBTC stocks after they are listed on NYSE Arca, they will only see these stocks listed on NYSE Arca, not quoted on OTCQX. GBTC will retain the same stock code (GBTC) and the same CUSIP, and investors will continue to be able to buy and sell GBTC stocks at market prices.
Investors bet on Bitcoin call options before the announcement of the Bitcoin ETF decision, with exercise prices concentrated at $50,000
According to a report by Jinse Finance, data analysis of the Deribit Bitcoin options market shows that traders are preparing for significant price fluctuations in January. As of January 5th, the total open contracts for Bitcoin options on Deribit are 228,646.70 BTC, with a nominal value of $10.05 billion. This number indicates a high level of market participation and interest in the future price trend of Bitcoin.
Adam Button: I still think a Bitcoin ETF is a done deal
Adam Button, an analyst at financial website Forexlive, said: "I still believe that a Bitcoin ETF is a sure thing and may be launched next week. This week we have seen many reports that this is a sure thing, but the price of Bitcoin has not responded positively, which leads me to believe that people are making "sell the fact" trades in advance."
