CryptoMediaClub
Tuesday, June 24, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Bloomberg Intelligence Believes Spot Bitcoin ETF Could Launch This Week in the US

29.08.2023
A A
0
125
VIEWS
ShareShare

According to Bloomberg Intelligence, the highly-anticipated launch of a spot Bitcoin exchange-traded fund (ETF) in the United States could occur right before Labor Day (September 4).

The entity said that the US Securities and Exchange Commission (SEC) is expected to respond to several applications from BlackRock, Bitwise, WisdomTree, VanEck, and Invesco in the following days. The agency has the option to approve, reject, or delay the filings.

More Clarity Before the Week’s End

Bloomberg Intelligence informed that Bitwise’s application will be the first that the SEC will take into consideration, with an announcement expected on Friday (September 1). A decision on the other four filings, presented by BlackRock, Invesco, WisdomTree, and VanEck, is due on Saturday (September 2).

The SEC’s stance has so far been quite discouraging for companies willing to introduce such a financial product in America. It rejected Grayscale’s ambitions to convert its Bitcoin trust to an ETF last year and delayed its decision on the joint effort of ARK Investment Management and 21Shares, which filed to launch a spot BTC ETF.

One person who is pessimistic that the watchdog will approve the long-anticipated product this week is Roxanna Islam – associate director of research and head of sector and industry research at VettaFi:

“We can expect to see more delays from the SEC, especially after they already delayed their decision earlier this month on ARK’s spot-Bitcoin ETF filing. We need to see a decision from the SEC on Grayscale’s lawsuit first — otherwise, we might see them approve Ether-futures ETF filings before they approve any spot-Bitcoin ETF filings.”

While seeing a green light from the Commission on such a product seemed like a mirage in the past few years, the odds appeared to have changed when BlackRock hopped on the bandwagon.

The involvement of the finance behemoth, which saw just one out of its 576 ETFs rejected by the SEC in the past, infused optimism in the crypto space, prompting many to believe that a spot BTC ETF will finally see the light of day in the world’s biggest economy.

Why BlackRock’s Application Could Be Successful?

There are many other reasons why the filing of BlackRock could receive the SEC’s nod (apart from its outstanding record with the agency). The popular X (Twitter) user going by the name “Seth” posted some essential points that could play a role.

First, they reminded that the US government and the Federal Reserve place high trust in BlackRock, asking the asset manager to draw a rescue plan during the Financial crisis in 2008.

Another factor is the change of heart coming from the company’s CEO – Larry Fink, who called Bitcoin an “index of money laundering” in 2017 but most recently aligned his stance with those who support the asset.

Seth noted that BlackRock already has experience in the field, previously launching a BTC private ETF for institutional investors.

The fact that a spot BTC ETF exists in other regions such as Canada and Europe and the following spree of applications coming from other asset managers, including Vanguard and Fidelity, are also factors worth observing, the X user concluded.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share10Tweet6ShareSharePin2

Related Posts

Fintech Firm Fiserv Taps PayPal and Circle to Power Its Stablecoin Initiative
All news

Fintech Firm Fiserv Taps PayPal and Circle to Power Its Stablecoin Initiative

24.06.2025
0

Fiserv, one of the largest fintech firms in the US, announced plans Monday to launch its own US dollar-backed stablecoin,...

Read moreDetails
Bitcoin Reclaims $106K After Trump’s Israel-Iran Ceasefire — Is $110K Next?

Bitcoin Reclaims $106K After Trump’s Israel-Iran Ceasefire — Is $110K Next?

24.06.2025
Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech

Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech

24.06.2025
Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

24.06.2025
$100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move

$100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move

23.06.2025
Load More
Next Post
Why Are the Big Boys Stacking If 1inch Investment Fund Just Bought $10 Million in Ethereum (ETH)?

Why Are the Big Boys Stacking If 1inch Investment Fund Just Bought $10 Million in Ethereum (ETH)?

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Lack of Privacy in Crypto Is Holding Back Institutional and Mainstream Adoption

Lack of Privacy in Crypto Is Holding Back Institutional and Mainstream Adoption

7 months ago
US government among largest Bitcoin hodlers with over $5B in BTC: Report

US government among largest Bitcoin hodlers with over $5B in BTC: Report

2 years ago
Ethereum Faces Potential Dip Below $1,500 Amid Wallet Movement, But Hope Lies in Burn Mechanism

Ethereum Faces Potential Dip Below $1,500 Amid Wallet Movement, But Hope Lies in Burn Mechanism

2 years ago
BONE Inches Towards 200,000 Address Milestone Amid Shibarium Hype

BONE Inches Towards 200,000 Address Milestone Amid Shibarium Hype

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

$100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move

Solaxy (SOLX) Price Set to Heat Up as Solana Layer 2 Lists on DEXs, Major Exchanges to Follow 

Texas to buy Bitcoin for state reserves long before Trump’s Bitcoin reserve delivers

$2M Whale Purchase Rescues FARTCOIN from Collapse — $2 Price Target Within Reach?

Trending

Fintech Firm Fiserv Taps PayPal and Circle to Power Its Stablecoin Initiative
All news

Fintech Firm Fiserv Taps PayPal and Circle to Power Its Stablecoin Initiative

24.06.2025
0

Fiserv, one of the largest fintech firms in the US, announced plans Monday to launch its own...

Bitcoin Reclaims $106K After Trump’s Israel-Iran Ceasefire — Is $110K Next?

Bitcoin Reclaims $106K After Trump’s Israel-Iran Ceasefire — Is $110K Next?

24.06.2025
Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech

Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech

24.06.2025
Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

24.06.2025
Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

24.06.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz