The SEC has pushed making a decision on an application from the Cboe seeking to trade Bitcoin ETF Options. The agency will decide by April.
BlackRock’s existing spot BTC ETF stands out as the top-performing option in the market, contributing to the surge in demand for Bitcoin ETFs.
The concept of adding crypto to retirement and pension plans is not entirely new. Some retirement funds have already started investing in digital assets.
The influx of investments into Bitcoin ETFs, culminating in a total of $563 million on March 4, signifies a robust institutional endorsement of cryptocurrency.
Before the conversion on January 11, GBTC held 624.28K BTC but this amount has since dropped to 434.36K BTC as of March 4.
The SEC’s decision to seek public comment on the proposed ETFs is a strategic move, as it allows the regulatory body to gather insights and address potential concerns regarding fraud, manipulation, and the intricacies of Ethereum’s transaction validation process
IBIT saw over $500M in inflows between February 27 and 29.
Hougan noted that major wirehouses will soon drive the Bitcoin demand to the roof as the supply gets reduced during the halving event.
A representative from Wells Fargo has verified that spot Bitcoin ETFs have been accessible for unsolicited purchases post-SEC approval.
The success of the BlackRock iShares Bitcoin Trust IBIT in the United States serves as a testament to the growing appetite for crypto investment products.
Grayscale CEO Sonnenshein ask the SEC to approve options for GBTC, adding that the Commission has already approved same for futures ETFs.
Bloomberg ETF analyst Eric Balchunas noted that the overall record-breaking trading volumes weren’t restricted to spot ETFs alone.
The move by Ark Invest and 21Shares to integrate with the Chainlink network will help level up transparency and confidence in ARKB.
The enthusiasm for Bitcoin-related ETFs was further underscored by data indicating that US-listed spot Bitcoin ETFs collectively traded over $2 billion.
Since the launch of ETFs, Bitcoin (BTC) has broken above all the significant levels and might be targeting a new all-time high.