The SEC chair said that the Bitcoin ETF approval stays limited to one commodity, hinting that the agency isn’t thinking of approving an Ethereum ETF. Also, the agency delayed its decision on BlackRock’s spot Ethereum ETF.
The SEC has decided to delay its decision on approving or disapproving the spot ETH ETF proposal from BlackRock until March.
Despite the recent massive outflows, the past week witnessed a notable surge in inflows, with a substantial $1.25 billion pouring into crypto funds. Grayscale’s GBTC led the chart.
Franklin Templeton is one of the leading financial services companies in the United States and its primary focus lies in collaborating with financial advisors and wealth platforms to provide solutions to clients.
Currently, seven ETH spot ETF applications are awaiting SEC review, with VanEck leading the queue.
The approval of 11 spot Bitcoin ETFs in the United States has given investors around the world more diversity to tap into the Bitcoin market, thus heightening underlying fee wars.
The approval of spot Bitcoin ETFs was anticipated to be a positive catalyst for Bitcoin’s price. However, the reality has been starkly different, with Bitcoin experiencing a decline.
The Dow has hit a new record, while other indexes also increased, as traders believe the Fed will leave interest rates unchanged.
Crypto exchanges in Hong Kong prepare for launching spot Bitcoin ETFs as regulators pave the way for these investment products.
Among the newly launched nine Bitcoin ETFs, BlackRock and Fidelity’s ETFs have witnessed inflows northwards of $1.2 billion each.
When Fidelity Investments filed for the Ether ETF last year, the asset manager noted a court ruling where judges said the SEC failed to find a cogent reason to reject spot crypto ETF.
The introduction of spot Bitcoin ETFs triggered a massive retracement in the overall crypto market.
While Franklin Templeton expressed enthusiasm for Solana, Ethereum, and Bitcoin, the firm indicated that it is actively monitoring other layer-1 blockchains with massive potential.
On-chain data shows that money from GBTC has been flowing into the newly launched spot Bitcoin ETFs amid very low fee structures.
While Grayscale’s Bitcoin fund has historically been a dominant force in the crypto investment space, it has experienced substantial outflows totaling more than $579 million since it commenced trading on January 11.