This fee war started before spot Bitcoin ETFs were approved, with issuers lowering their costs even then.
According to TD Cowen, several factors, including Gensler’s “go-slow” approach, make spot ETH ETF approval unlikely this year.
Bitcoin ETFs may see massive inflows from Google’s high transaction processing capability.
Charles Schwab has demonstrated an increasing interest in the crypto space following initial skepticism towards the emerging economy.
Apart from Harvest Fund Management, other companies in Hong Kong are actively exploring the possibility of launching spot Bitcoin ETFs.
The JPMorgan analysts highlighted BlackRock and Fidelity Investment’s spot Bitcoin ETFs as emerging competitors to GBTC.
The SEC has instituted proceedings that include a call for public comments as it delays a decision on Grayscale’s ETH ETF.
The Coinbase execs believe that crypto can go mainstream, describing the current period as the next chapter for cryptocurrencies.
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.