Many people across the globe are surfing the internet to understand the implications of the Bitcoin spot ETF approval and how they can maximize the benefits.
To underscore the bullish sentiments, the performance of Bitcoin forks reflects the same optimism among investors.
A federal court may formalize the ruling on Grayscale’s ETF today, officially vacating the SEC’s refusal to convert the GBTC.
Matrixport’s analysis suggests that if Tether’s (USDT) market cap increases by $24 billion, acting as a proxy for potential ETF inflows, Bitcoin’s price could rise to $42,000, representing a conservative estimate.
Through Taproot Assets, Lightning Labs is bringing stablecoins to Bitcoin and Bitcoinizing traditional assets including the dollar.
Tesla continues to hold on to its BTC holding having last sold about 75% of it in the second quarter of 2022.
The SEC chair said that the Commission has a lot of applications to review for spot Bitcoin ETFs. Mike Novogratz expects a spot Bitcoin ETF coming by the year end.
Starting from the first quarter of 2024, the crypto custody service will be operated by Zodia Custody – the leading institution-first digital asset custodian by Standard Chartered.
Coinbase now offers crypto derivatives trading to eligible customers outside of the United States, for BTC, LTC, XRP and ETH.
Novogratz thinks the Fidelity Investments victory against the SEC puts the Commission in a corner where a Bitcoin ETF approval is inevitable.
Bitcoin is enjoying price spikes and increased trading volumes as Fidelity and others amend proposals while the market awaits an approval.
It says that if the firms that have applied to list spot Bitcoin ETFs would only commit 1% of their Assets Under Management (AUM), then approximately $155 billion would flow into the Bitcoin market.
Larry Fink’s comment reveals BlackRock’s strong interest in crypto following the company’s application for a spot Bitcoin ETF.
Coinbase noted that the recent action is part of its efforts to enhance overall market health and consolidate liquidity.
While experts forecast the US SEC will approve a spot Bitcoin ETF within the next six months, the BlackRock’s officials confirmed that it has not received a green light on its application.