Bitcoin ETF

Despite the recent rally in Bitcoin, the balance of BTC on exchanges continues to decrease, indicating that investors are not willing to sell.

According to ARK Invest's new report, 70% of circulating Bitcoins have not moved for 1 year; Institutional sensitivity towards BTC is improving.

Hester Peirce criticizes the inconsistent policy of the SEC regarding spot Bitcoin ETFs.

Coinbase's role in overseeing the resubmission of spot Bitcoin ETF applications, which the SEC found to be incomplete, has increased interest in COIN shares.

The SEC is set to decide on ARK 21Shares' Bitcoin spot ETF application, the first of its kind, by August 2023. ARK 21Shares has amended its application to include a surveillance sharing agreement, a move believed to boost BlackRock's ETF approval chances. If the SEC approves BlackRock's application for this reason, it will have to approve ARK 21Shares' application, which is due six days earlier.

Cboe Digital Markets has resubmitted spot Bitcoin ETF applications that were previously rejected by the SEC.

Major asset management firms BlackRock and Fidelity are believed to be behind the recent surge in cryptocurrency prices due to their applications for a Bitcoin ETF. This move could spark a competition among leading firms, which would be beneficial for the crypto industry.

The Bitcoin Strategy ETF (BITO) offered by financial services company ProShares has witnessed a new record with a weekly investment of $65 million.