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As estimated by crypto investment firm Galaxy Digital, Bitcoin is projected to see a 74.1% price increase in the first year after the U.S. launch of spot Bitcoin ETFs. In a blog post dated Oct. 24, Charles Yu, a research associate at Galaxy Digital, projected that the total market size for Bitcoin ETFs could reach $14.4 trillion in their first year. He derived the 74% price increase estimate by comparing the potential impact of fund inflows into Bitcoin ETFs with that of gold ETFs. Galaxy Digital argues that ETFs could offer a more efficient investment vehicle than existing options like trusts and futures, which currently hold over $21 billion in value. The firm anticipates that fund inflows could increase to $27 billion in the second year and $39 billion by the third year. You might also like: BlackRock spot Bitcoin ETF added to NASDAQ’s clearing agency Investor accessibility and prospects Launching Bitcoin ETFs could particularly benefit the U.S. wealth management in...

Bloomberg Analyst On Spot Bitcoin ETF Approval by US SEC Bloomberg Intelligence ETF analyst James Seyffart in an interview with Paul Barron Network reflected on Bitcoin ETF s status, BlackRock spot Bitcoin ETF , odds of approval by the US SEC, the impact Judge Torres’ ruling in US SEC v. Ripple Labs , political pressure, and crypto regulations. advertisement He said there are currently many BTC ETF filings with the SEC, with BlackRock filing making the most noise as traditional financial firms make another stride into the crypto market. While Ark Invest and 21Shares’ spot Bitcoin ETF application is first in line, BlackRock looks to capitalize first with a sudden move. “We are officially at 50-50 odds. The SEC had a list of things they needed to have happen before they approve a Bitcoin ETF and issuers have knocked those things off the list. The SEC wanted a surveillance sharing agreement with a regulated market of significant size that has bee...

As of July 17, investors, traders, and other members of the public can now share their opinions on the Bitcoin ETF filings submitted via the Cboe exchange. All comments are set to be published on the SEC’s website. Comment period now open The Securities and Exchange Commission (SEC) has called upon the public to provide their input on the Bitcoin ETF filings made by Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, and Invesco Galaxy Bitcoin ETF through the Cboe BZX Exchange, Inc.  As of July 17, the SEC shares that the public can submit comments on its filings within the specified comment period. Detailed instructions on how to submit comments can be found in the “How to Submit Comments” section, with a strong emphasis on electronic submissions. The page shares that all comments received will be published on the SEC’s website. You might also like: Lawyer: SEC has to appeal after ruling on XRP Last week, Cboe took a step...

Bitcoin exchange-traded funds [ETFs] have regained momentum after BlackRock’s recent application, which in itself resulted in significant market gains. As a result, many are anticipating a potential surge in the market if these applications receive approval. However, JPMorgan analysts hold a different perspective, asserting that Bitcoin ETFs will have minimal impact on the overall cryptocurrency market. In conjunction with BlackRock, Invesco, and Wisdom Tree have also made initial and subsequent applications for a spot Bitcoin ETF. However, the Securities and Exchange Commission [SEC] has not yet granted approval for this type of ETF. Nevertheless, there is growing optimism that the regulator may approve one soon. According to JPMorgan, it is believed that certain concerns raised in earlier filings have been addressed in more recent submissions. Although the approval of a Bitcoin ETF would be viewed as a positive development for the industry, JPMorgan suggested that it would no...