October 30th, 2025
The amended ETF application came after a series of meetings between Grayscale and the SEC in December.
The “smart money index”, which measures the net bullish bets by institutional players through Chicago Mercantile Exchange (CME) Bitcoin futures, has reached an all-time high of over 13,700 in recent days.
In addition to top executives stepping aside from the board of directors, Grayscale Investments also filed an updated spot Bitcoin ETF application with the SEC on Tuesday.
In 2023, the Bitcoin hashrate has surged by a staggering 130% which shows growing competition and reduced profitability for miners.
The timing aligns perfectly in 2024 for a spot ETF approval to have already attracted significant investment, and then the halving decreases Bitcoin’s supply right when demand shoots higher.
Gensler disclosed that the SEC is actively reviewing rules that could potentially hurt the crypto industry.
According to analysts at Bitfinex, crypto is undoubtedly gaining more traction globally. Moreover, considering the current state of the crypto market, especially with asset prices, it appears that even more global acceptance is on the way for crypto.
The analyst said TradFi institutions trying to get into crypto, but are unsure how to begin, may use Coinbase stock to enter.
While Hashdex and Bitwise are competing for public attention with their marketing campaigns, VanEck’s move to actually own Bitcoin may prove to be the wiser approach.
A spot Bitcoin ETF approval would open doors for institutional and retail investors to access the world’s largest cryptocurrency with greater ease and at a lower cost compared to Bitcoin ETFs tied to the futures market.
Many Bitcoin fans have ambitious predictions for 2024 and if the token is about to hit $50,000 in the first month of the year as Matrixport says, higher milestones might be in view.
CryptoQuant says factors like the halving, ETF, approval, and rate cuts, could push Bitcoin to $160K next year.
With about 425 million owning crypto and more than 80 percent of G20 countries moving towards enabling digital assets, Coinbase is confident the industry will unlock economic freedom to billions of users.
Nasdaq was also in attendance to discuss rule changes that BlackRock must consider before listing a Bitcoin ETF.
BlackRock has agreed to exclude in-kind creations and redemptions from its ETF application. The Bitcoin price has responded positively to this news.