Marathon Digital’s spectacular performance aligns with the broader boom in the Bitcoin mining sector.
BlackRock and VanEck have seeded their ETFs with $10 million and $72.5 million, respectively, with Bitwise planning a whopping $200 million.
Applicants have submitted final S-1 amendments for proposed spot Bitcoin ETF approvals expected from Wednesday.
US SEC is expected to greenlight the first spot Bitcoin ETF this week, opening the door for a possible $10 billion inflow in 2024.
The financial regulator began issuing warnings against FOMO in January 2021 amidst a soaring crypto and equities bull market.
It is believed that the approval of a spot BTC ETF could potentially drain the entire circulating supply of the crypto asset but some analysts in the industry have opposite opinions.
If approved, VanEck’s filing would establish one of the first spot Bitcoin ETFs in the United States.
The approval of spot Bitcoin ETFs could signal a growing acceptance of cryptocurrencies within traditional financial circles.
Grayscale and VanEck, alongside other firms, have submitted Form 8-A to the SEC, marking a significant move towards potential approval of the first spot Bitcoin ETF in the US.
Recent meetings of major exchanges, including NYSE, Nasdaq Composite, the Chicago Board Options Exchange, and the SEC have sparked speculation about the timing and potential approval of a spot Bitcoin ETF.
Insiders familiar with the proceedings indicate that the SEC may begin notifying issuers of approval starting Friday, paving the way for potential trading to commence as early as the following week.
According to sources familiar with the ongoing ETF proceedings, an approval could be announced on Friday, with trading beginning as early as next Monday.
Goldman Sachs’ Head of Digital Assets Mathew McDermott has emphasized the potential impact of approving spot Bitcoin and Ether ETFs on the cryptocurrency market.
Fidelity Investments filed form S-1 with the US SEC on December 29, 2023, to offer the Fidelity Wise Origin Bitcoin Fund shares via Cboe BZX Exchange.
Matrix on Target raises concerns about the potential market impact if the SEC rejects all Bitcoin ETF proposals by the January deadline.