Many traditional finance companies, including BlackRock, have pushed the Securities and Exchange Commission to endorse the spot Bitcoin ETF.
Meanwhile, this year, grayscale litigation against the United States Securities and Exchange Commission has become a major factor for the sport BTC ETF.
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Fast Facts
- This year, the US SEC is filled with new Ethereum and Bitcoin ETFs (exchange-traded funds), showing several ETFs’ approval by year-end.
- `Precisely, Bitwise and ProShares are applying for several Exchange-traded funds tracking ETH and BTC prices. Meanwhile, Ethereum-related exchange-traded funds are reaching 12 at present.
- ProShares has applied for the BTC (Bitcoin) and Ether Equal Weight Strategy ETF, which can track the activities of the Bitcoin and Ether Weight Index. This week, ProShare has applied for an overall of 4 applications for the Ethereum-based ETFs.
- Furthermore, Bitwise also applied for the Bitcoin & Ether Market Cap Weight Strategy exchange-traded funds and the Bitcoin & Ether Equal Weight Strategy exchange-traded fund.
- Reports have shown that this week, Bitwise has filed up to 3 Ethereum-based exchange-traded funds applications recorded by Eric Balchunas and James Seyffart, ETF analysts from Bloomberg. According to the analysts, Ether futures exchange-traded funds filing is presently up to 12.
- In addition, Seyffart and Balchunas increased the chances of the United States Securities and Exchange Commission approving a spot Bitcoin ETF in 2023 to 65% from the 50% it was previously.
- On the other hand, the odds for an Ethereum exchange-traded fund approval is up to 75%, although Balchuna believes that the odds for Ether futures are 95%.
What’s Happening In Crypto Presently?
Right now, Bitcoin is trading at $29,138.75, with an increase in market cap by 0.01% and a drop in trading volume by 16.11%.
On the other hand, Ethereum is presently trading at $1,833.02, with a drop in market cap by 0.07% and a drop in trading volume by 18.46%.
- Meanwhile, Tether is currently trading at $0.9991 with an increase in market cap by 0.01% and a drop in trading volume by 14.27%.
- On the side of BNB, its current price is at $241.57, with an increase in market cap by 0.57% and a drop in trading volume by 30.10%.
