The analysts noted that the SEC may have to approve Grayscale’s ETF proposal and potentially other spot-based Bitcoin ETFs in order to maintain regulatory consistency.
Bitcoin continues to show weakness as the BTC price can move towards $24,000-25,000 as it goes to test the 200-week EMA once again.
With the Bitwise ETF application gone, the crypto community is now awaiting the SEC’s decision on the remaining applications by WisdomTree, Invesco Galaxy, Valkyrie, VanEck, and Fidelity.
The SEC will have an additional 45 days after the publication in the Federal Register to evaluate the suggested rule. The next decision is pending on October 17, next month.
The addition of Bitcoin, Dogecoin, and Ethereum swapping is a significant step for Robinhood and in response to requests from its user base.
The court ruled that the SEC failed to provide sufficient evidence as to why Grayscale’s application to convert its Bitcoin Trust to a spot ETF was denied while the agency approved a futures ETF.
Grayscale’s victory over the US SEC marks a milestone event which can open up the gates of approval for the spot Bitcoin ETF.
Despite fears of bankruptcy in late 2022, Argo’s 2023 mid-year results show a positive shift.
Since 2022, Bitcoin’s trading volume has declined by nearly 90 percent despite increased demand from institutional investors.
The emergence of Robinhood as a key BTC holder signifies a potential shift in the digital asset ownership landscape.
Bitcoin mining revenue is now just $0.060 per terahash per second per day.
The Bitcoin price has once again retraced back to $26,000 after some recovery pump earlier this week. On the technical chart, BTC continues to show bearish momentum with its price dropping under the 200-day moving average (DMA).
Pantera Capital believes that the recent XRP ruling, possibility of a BlackRock ETF and the next Bitcoin halving will spike prices.
All eyes are on the Fed’s Jackson Hole meeting ahead this week as Fed Chair Jerome Powell is likely to announce interest rate hikes.
Recent data have left analysts optimistic about what the future holds for Bitcoin and the largest altcoin Ether (ETH).