Chain News by Thebittimes.Com

The total trading volume of all Spot Bitcoin ETFs on the market has surpassed $3 billion for the second day in a row. The hype around Bitcoin continues as the leading cryptocurrency surges on. JUST IN: Total spot #Bitcoin ETF trading volume surpasses $3 billion for the second day in a row: • BlackRock: $1,323,940,885 • Grayscale: $799,160,227 • Fidelity: $576,812,680 • Ark Invest: $203,762,725 • Bitwise: $78,165,380 • Invesco: $41,289,809 • Franklin:… — Watcher.Guru (@WatcherGuru) February 27, 2024 The last two days have seen BTC surge massively, surpassing the $57,000 mark to bring Bitcoin to its highest level since November of 2021. BlackRock once again led the pack, trading over $1.3 billion. IBIT also saw 100,000 individual trades on Tuesday. Just 24 hours ago, the total Bitcoin ETF trading volume passed the $3.24 billion mark. Here is how the top Bitcoin ETF products traded closing out Tuesday at the bell: •...

Analysts opined that the U.S. SEC would likely approve spot BTC ETFs in early January 2024, with eyes on the deadline for a decision on ARK Invest’s application.  ETF expert Nate Geraci surmised that the final response date for ARK Invest’s joint filing with 21Shares for a spot Bitcoin (BTC) ETF further strengthens predictions of approval within the first two weeks of January 2024. The Securities and Exchange Commission (SEC) has until Jan. 10 to decide whether to accept or deny ARK Invest’s bid. Geraci speculated that this hints at a potential green light from the SEC since the first spot BTC ETF was filed 125 months ago.  Today = T-minus *1 month* until potential spot bitcoin ETF approval… ARK deadline date = 1/10/24 First spot bitcoin ETF filed *125 months* ago. 125 months. — Nate Geraci (@NateGeraci) December 11, 2023 As reported by crypto.news, discussions between issuers like BlackRock and the SEC moved into their final stages, with both parties reportedly n...

In a good sign for Bitcoin ETFs, the SEC has held a meeting with Fidelity Investments to discuss its Spot Bitcoin ETF application. In the meeting, Fidelity discussed its pending application, as well as submitted a presentation about ETF workflows. JUST IN: 🇺🇸 SEC holds meeting with Fidelity to discuss its Spot #Bitcoin ETF. — Watcher.Guru (@WatcherGuru) December 8, 2023 A memo on the regulator’s website gives insight into the contents of the presentation made by Fidelity. Fidelity provided the SEC with a presentation entitled “Bitcoin ETF Workflows.” The presentation included slides that detailed “In-Kind” creation and redemption models.  “Arbitrage and hedge are more efficient with physical creations,” the presentation stated. “Self-clearing ETF market maker firms can facilitate efficient arbitrage in acting as Agency AP for non-self-clearing ETF market maker firms with Crypto Affiliates. Allowin...

In a Nov. 6 report from CoinShares, a leading European alternative asset manager, it was reported, digital asset investment products had now seen total inflows of $261 million. This marks the sixth consecutive week of inflows , total ling $767 million, which surpasses the total inflows of $736 million seen in 2022. Bitcoin still leads As part of the report, Bitcoin saw the majority of inflows at a total of $229 million, bringing the year-to-date inflows for the world’s largest cryptocurrency to $842 million. CoinShares suggests that this movement can likely be attributed to the likeliness of a spot-based ETF in the United States.  When comparing data by region, CoinShares’ prediction holds true, as US investors are attributed with having the largest inflows of any region at $157 million, with Germany, Switzerland and Canada following behind. You might also like: Coinshares reports largest inflows in since July 2022 At the same time, investor excitement w...