Rally

Bitcoin

Pando

Spot

<p>The post <a href="https://coinpedia.org/news/bitcoins-rally-soars-as-spot-etf-anticipation-grows-with-the-entry-of-new-market-players/" rel="noopener noreferrer nofollow">Bitcoin’s Rally Soars as Spot ETF Anticipation Grows with the Entry of New Market Players</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Bitcoin is experiencing a recovery rally due to the possibility of a batch approval for Bitcoin Spot ETFs looms large in January. A renowned Bloomberg ETF analysis Eric Balchunas divulged key insights into the updated application from asset manager BlackRock.</p>
<h2 class="wp-block-heading" id="h-new-player-enter-in-bitcoin-spot-etf-arena"><strong>New Player Enter in Bitcoin Spot ETF Arena</strong></h2>
<p>The Bitcoin Spot ETF race intensifies with the addition of new players, bringing the total number of issuers to 13.&nbsp;</p>
<p>On November 29, Pando Asset <a href="https://coinpedia.org/news/pando-asset-swiss-firm-enters-us-spot-bitcoin-etf-race-amid-regulatory-uncertainty/" rel="noopener noreferrer nofollow">filed</a> with the Securities and Exchange Commission (SEC) a Form S-1, which is an important step for its offering of cryptocurrency Exchange-Traded Products (ETPs), as per Coinpedia news report.</p>
<p>Using Coinbase as the custodian, the proposed Pando Asset Spot Bitcoin Trust will trade on the Cboe BZX Exchange, reflecting Pando’s strategy of entering the U.S. market as a foreign company.</p>
<h2 class="wp-block-heading" id="h-blackrock-s-revised-model"><strong>BlackRock’s Revised Model</strong></h2>
<p>Eric Balchunas, a Bloomberg ETF analyst, sheds light on BlackRock’s meeting with the SEC’s Trading and Markets division, where a revised in-kind model design was presented.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Looks like BlackRock met with the SEC's Trading &amp; Markets division again yesterday and gave presented them with a "revised" in-kind model design based on Staff's comments at their 11/20 meeting.. h/t <a href="https://twitter.com/btcNLNico?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@btcNLNico</a> here's full doc: <a href="https://t.co/sgOpY5D1jz" rel="noopener noreferrer nofollow">https://t.co/sgOpY5D1jz</a> <a href="https://t.co/863pWOX6w0" rel="noopener noreferrer nofollow">pic.twitter.com/863pWOX6w0</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1729921877328503083?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 29, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Meanwhile, the ongoing debate with regulators over cash creation versus in-kind delivery continues, shaping the landscape for potential Bitcoin Spot ETF approvals. The anticipation for Bitcoin Spot ETFs has spurred a market rally, impacting both spot and futures markets.</p>
<h2 class="wp-block-heading" id="h-market-pro-active-reaction"><strong>Market Pro-Active Reaction&nbsp;</strong></h2>
<p>The market responds to the Bitcoin Spot ETF anticipation with a surge in both spot and futures markets. Perhaps the overall excitement contributed to a rally in Bitcoin prices, resulting in $8.94 million in short liquidations overnight.</p>
<p>On Tuesday, ProShares Bitcoin Strategy ETF (BITO) assets under management reached a record high of $1.47 billion. A year after launching in October 2021, Bito had over $1 billion in assets. It reached $1.42 billion in assets a month later.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">All this <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF hype has driven ProShares' <a href="https://twitter.com/search?q=%24BITO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BITO</a> (Bitcoin Ffutures ETF) to a new all time high in assets. Closing in on $1.5 billion <a href="https://t.co/b8advV1uGo" rel="noopener noreferrer nofollow">pic.twitter.com/b8advV1uGo</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1729886367176700341?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 29, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>In addition, Grayscale Bitcoin Trust’s GBTC has <a href="https://coinpedia.org/news/grayscale-upgrades-gbtc-for-spot-bitcoin-etf-in-two-smart-moves/" rel="noopener noreferrer nofollow">proposed two</a> key amendments to the trust’s agreement. Its goal is to prepare for the launch of an exchange-traded fund (ETF) that tracks spot Bitcoin.&nbsp;</p>
<h2 class="wp-block-heading" id="h-btc-aims-40-000"><strong>BTC Aims $40,000&nbsp;</strong></h2>
<p>Crypto analyst Crypto Tony provides technical insights into Bitcoin’s price chart, projecting a potential rally to $40,000. According to Tony, sustained demand from market participants could push BTC prices even higher after breaking through the $40,000 level.&nbsp;</p>
<p>However, a correction is anticipated, with the price potentially dropping to $36,000 following the initial surge.</p>

Bitcoin’s Rally Soars as Spot ETF Anticipation Grows with the Entry of New Market Players

Mục lục

CoinPedia News

Các bài viết khác được xuất bản trên 30 thg 11, 2023

Today in Crypto: $343,038,810 was Lost to Hacks and Fraud in November, a 15x Increase from October

Bolt Nigeria to launch NIN verification for riders, selfie verification for drivers in 2024

Bitcoin Price Unable to Sustain Above $38,000: What’s the Current Status for BTC?

Twin DEXs Velodrome and Aerodrome Suffer Front-End Security Breach

Dogecoin Price Shows Bullish Behavior as DOGE Moon Mission Scores Regulatory OK

Over 75% of Web3 games ‘failed’ in last five years: CoinGecko

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!