Amplify ETFs, Invesco and Galaxy submitted registrations to the U.S. SEC for Bitcoin and DeFi-based ETF offerings.
Exchange-traded funds, or ETFs, are investment funds that trade on a stock market with their value derived from an underlying basket of assets such as stocks, bonds, commodities and other financial instruments. They provide investors easier exposure to a certain index of assets.
A Bitcoin ETF is similar, but the underlying asset is the Bitcoin (BTC) cryptocurrency rather than other traditional financial instruments.
The hope of Bitcoin ETFs is that they could provide institutional investors an easier way to buy into Bitcoin and crypto markets, thus making it more attractive to the broader investment community.
While there have been many proposals for Bitcoin ETFs presented to the United States Securities and Exchange Commission, or SEC, the main hindrance to their approval is concern for asset volatility and market maturity, though this sentiment is starting to shift in crypto’s favor. For years, and most certainly now, there has been demand from institutional investors for this on-ramp to the crypto economy.
A Bitcoin ETF could be approved by U.S. regulators by October, according to Bloomberg Intelligence commodity strategist Mike McGlone.22263
Bitcoin has been leaving Coinbase’s wallets in 2021, while BTC exchange reserves on Binance tell a different story.15957
Anthony Scaramucci revealed that SkyBridge currently holds $700 million worth of cryptocurrency.11306
$810 million in BTC options expire this Friday, and derivatives data suggests bulls are keen to push the price through the $50,000 level.19378
Fidelity argues that Bitcoin markets have already reached maturity under the SEC’s own standards.9414
Is a futures-based crypto exchange-traded fund really imminent, and if so why that, and not an ETF that takes direct ownership in Bitcoin?4481
A Bitcoin ETF approval will open the door for more conservative investors, and this could have an irreversible impact on the price of BTC.19182
Bloomberg analysts expect a BTC ETF approval in the next few months, and clever options traders might use this strategy to profit from the possibility.7968
The investment firm filed the application for its Bitcoin ETF with Canadian securities regulators in February.3604
While asset managers have accumulated 4% of Bitcoin’s supply, private and public companies have also amassed 1% each.11089
“A launch could come as soon as October, and we believe the SEC should permit several at once to avoid handing out a first-mover advantage,” Bloomberg ETF analysts said.8292
Bitcoin's price finally recaptured the $50,000 level, but data shows that pro traders are somewhat skeptical for a variety of reasons.14973
It’s unclear why both asset managers chose to apply for and withdraw seemingly similar applications for Ether ETFs on the same days.15389
The latest two filings bring the total number of ETF applications this year to 23.4045