CME: Investors prepare for spot Bitcoin ETF approval, institutions and other diverse players flood into the market
On October 25th, Gio Viciioso, the head of CME's cryptocurrency business, stated that the company was "already prepared" for the rebound of Bitcoin this Tuesday. He pointed out that the market has high expectations for the approval of spot Bitcoin ETFs, not only from retail investors but also from a diverse range of participants, including macro hedge funds and banks, who are also entering this field.
ARK files version 4 amendment to its spot ETF19b-4 filing
Eric Balchunas, an ETF analyst at Bloomberg, wrote that ARK has just submitted the 4th revised version of its 19b-4 file for its spot ETF, apparently to include changes made to its S-1 (aimed at responding to feedback from the SEC). The analyst said that the purpose of this document is only to keep the two documents consistent (the first issuer to do so), without any other substantive content.
Bloomberg ETF Analyst: Don’t Read Too Much Into the Introduction of Seed Funding for BlackRock’s Spot Bitcoin ETF
On October 24th, Bloomberg senior ETF analyst Eric Balchunas stated that the revised version of the BlackRock iShares physical Bitcoin ETF mentions two things: first, it has obtained the CUSIP required to launch; second, it plans to seek seed capital in October, earlier than expected.
Crypto Investment Products See Four Weeks of Inflows as Market Awaits Possible Approval of Bitcoin ETF
Investment products in the cryptocurrency market have seen four weeks of inflows, with $179 million added in the week ending October 20th, according to CoinShares' fund flows report. Bitcoin investment products received the majority of inflows, bringing year-to-date inflows to $315 million. However, the recent inflows are still lower than those seen earlier this year when BlackRock first filed for a spot Bitcoin ETF. Solana products also saw significant inflows, while Ether products experienced outflows. Interest in a spot Bitcoin ETF surged following positive signs of approval and a Bitcoin rally.
BlackRock’s iShares Bitcoin Trust goes live with U.S. Depository Trust and Clearing Corporation
On October 24th, Bloomberg ETF analyst Eric Balchunas posted on social media that BlackRock's iShares Bitcoin Trust has been listed on the Depository Trust & Clearing Corporation (DTCC) with the stock code IBTC. This is a step in the ETF listing process and the first Bitcoin trust to be listed on DTCC.
Bloomberg ETF Analyst: BlackRock May Have Received Green Light, but ETF Should Be Approved at the Same Time
According to Bloomberg ETF analyst Eric Balchunas, "BlackRock may have already received the green light, or it's just assuming and preparing for everything. We still believe that many ETFs will be launched together, rather than BlackRock being approved first."
Earlier reports stated that BlackRock's iShares Bitcoin Trust has been listed on DTCC with the code IBTC.
SEC Commissioner: Spot Bitcoin ETF should have been approved 5 years ago
Crypto supporter and SEC Commissioner Hester Peirce stated in an interview that a Bitcoin ETF based on spot prices should have been approved 5 years ago. She mentioned, "The logic behind why we haven't approved a spot Bitcoin ETF has always puzzled me."
CoinTelegraph's False Tweet on Bitcoin ETF Approval Highlights Market Anticipation
According to trading firm QCP, the recent false tweet by CoinTelegraph about the approval of a Bitcoin ETF by US regulators highlights the market's anticipation for such a product. BlackRock's surprise application for a spot ETF in June added to the list of firms aspiring to launch a similar product, but the SEC has been hesitant due to concerns about market manipulation.
BlackRock: Lack of transparency in centralized digital trading poses clear risks and could harm investors in financial derivatives such as ETF stocks
Bitcoin News stated on social media that BlackRock stated in the revised version of its iSHARES Bitcoin Trust S-1 document that the lack of transparency in centralized digital exchanges can bring significant risks and may harm investors in ETF stocks and other financial derivatives.
Gary Gensler: SEC is reviewing Bitcoin spot ETF application documents
Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), said in an interview that "currently, the SEC has 8 to 10 Bitcoin spot ETF applications that need to be reviewed. These applications are not just formal, they require a lot of consideration from various departments of the SEC, with input from the finance department, and careful review of the submitted materials by the trading and market departments." When asked about the possibility of ETF approval, Gensler replied that he could not comment on the ongoing review and that he personally would not pre-judge the outcome of the process.
