The investment community is abuzz with activity as asset managers like BlackRock and VanEck have submitted updated filings for spot Bitcoin ETFs. Cathie Wood's ARK Invest has executed a massive shake-up in its Bitcoin-related holdings, allocating $92 million to the ProShares Bitcoin Strategy ETF (BITO) and exiting Grayscale Bitcoin Trust (GBTC). Coinbase is poised for the potential approval, having prepared to handle the expected surge in trading volume and demand. The market is rife with speculation, with some predicting a 'sell-the-news' event that could see Bitcoin prices plummet. JPMorgan Chase, which has been critical of Bitcoin in the past, is now an authorized participant for BlackRock's ETF, indicating a significant shift in the financial sector's approach to cryptocurrency. As the SEC's deadline for updated filings has passed, asset managers are aggressively positioning themselves, with Fidelity offering a low 0.39% sponsor fee and Galaxy/Invesco waiving fees for the first six months. Additionally, ETF commercials are gaining traction, Cathie Wood expects ETF approval in January 2024, ARK Invest and 21Shares have updated their Bitcoin ETF application in compliance with SEC's request, and the Jan 10 spot ETF deadlines are approaching. A Goldman Sachs executive has expressed a bullish stance on the ETF's impact on the market. Rick Schonberg has taken over from Aaron Schnarch as head of custody at Coinbase in preparation for the ETFs, and Bitwise has announced plans to seed its spot Bitcoin ETF with $200M.
BlackRock, VanEck among asset managers that submitted updated filings for spot bitcoin ETF https://t.co/zd0a8Yt44n https://t.co/eHU3psLFln
BlackRock, VanEck among asset managers that submitted updated filings for spot bitcoin ETF https://t.co/ixwC95pzJD https://t.co/pLyMAMQRHb
Jamie Dimon, Who "Hates" Bitcoin, Will Be Broker-Dealer On The Bitcoin ETF Of The World's Biggest Asset Manager https://t.co/Jmn8ddJ0Oj
Coinbase’s inscrutable fee model could backfire big time when it comes to the Bitcoin ETF bonanza, @AdMcMarkets explains https://t.co/aILru4ajWP
Two thoughts: 1.) Competition in the Bitcoin ETF arena will be fierce 2.) Look at what JPMorgan does, not what Jaime Dimon says https://t.co/LNibZk1wMb
JP Morgan CEO at the start of December: "I'd close crypto down" JP Morgan now: wants to participate in BlackRock's BTC Spot ETF Funny how institutions publicly call crypto "a scam" while max bidding behind close doors. https://t.co/EHB4O1cSqf
*FIDELITY JOINS RACE TO FILE UPDATED SPOT BITCOIN ETF FORMS WITH SEC, SETS FUND’S SPONSOR FEE AT A LOW 0.39% - THE BLOCK
Fidelity joins race to file updated spot bitcoin ETF forms with SEC, sets fund's sponsor fee at a low 0.39% https://t.co/cEuEYLyLxF
I, for one, can't wait to see what type of crimes Jamie Dimon commits with Bitcoin. https://t.co/XMOkiVBEiY
“The SEC is ready to approve spot bitcoin ETFs, but only if they have clear language around cash-only creations and have a signed agreement with an authorized participant” Okkuuuuurrrrr!!!!👀 – Bloomberg Intelligence analyst Eric Balchunas
Dear @senwarren, Jamie Dimon is "on it": he will be lead AP on the Blackrock and Inveso bitcoin ETFs, accelerating global adoption of crypto, and lifting the value of the product that "he's always been opposed to" into the trillions. https://t.co/JNwEBUdMM8 https://t.co/NsvXWwlXj9
they'll write ab the $BTC ETF marketing wars in history books Blackrock, Fidelity, (& every1 else) all slid to 3rd base today w/ revised applications to meet the SEC deadline of the 1st wave of potential approvals (next week?) Invesco/Galaxy offering 0 fees first 6 months..👀
Spot Bitcoin ETF applicants cornering Gary Gensler like https://t.co/tF2IxnJ8U3
Y’all acting surprised that JP Morgan is involved in the BTC ETFs… It is about money. It’s always been about money. Jamie doesn’t actually believe crypto is only for criminals; he just believes it threatens J.P. Morgan’s profits. Bankers don’t have principles beyond profits.
Coinbase execs looking at the fees for the Bitcoin ETFs come rolling in https://t.co/cLodZDyCSc https://t.co/WFTh6xUlKu
JUST IN: Fidelity spot #Bitcoin ETF 0.39% fee Galaxy/Invesco 0 fee for first 6 months 👀 The race to the fee bottom for customers has begun 🙌 https://t.co/VhPfDC9MrJ
Potential Bitcoin ETF issuers: https://t.co/EhllNSdAdY
Another Bitcoin Spot ETF named JP Morgan at their AP... I wonder who bribed who on the redemption from Bitcoin to cash Follow the money https://t.co/0KQ5V7wlZu
JUST IN: Invesco Galaxy files it's 4th amendment to it's spot #Bitcoin ETF with the SEC 🇺🇸 They will be waiving the fee for the first SIX months 🤯 https://t.co/c0ombumX5E
.@jpmorgan CEO Jamie Dimon's #bitcoin bashing is a 'do as I say, not as I do' situation as the largest U.S. bank agrees to play a key role for @BlackRock's $BTC ETF. @inkbacker reports https://t.co/VeVCEDoqJl
BOOM: Bitwise arrives with a HUGE **$200M** seed, $190M more than BlackRock or 20x. Are they printing Tethers or - Just Kidding. https://t.co/Puqy5eNntG
The SEC could deny all #bitcoin ETFs. There would still be a halving. https://t.co/07zgG0koxd
*INVESCO GALAXY FILES AMENDED S-1 FORM WITH SEC FOR SPOT BITCOIN ETF - THE BLOCK PRO
JUST IN: Bitwise to seed its spot #Bitcoin ETF with $200M 👀🙌 https://t.co/OSb41jzVDh
Update: they are absolutely pouring in. @InvescoUS and @galaxyhq have filed an amended s-1 for their #bitcoin ETF and they DONT name Jane Street. Their APs are Virtu and JP Morgan. https://t.co/O5M5xF0Bbb https://t.co/gjisncdXGD
*FRANKLIN TEMPLETON FILES AMENDED S-1 FORM WITH SEC FOR SPOT BITCOIN ETF - THE BLOCK PRO
*WISDOMTREE FILES AMENDED S-1 FORM WITH SEC FOR SPOT BITCOIN ETF - THE BLOCK PRO
*FIDELITY WISE ORIGIN FILES AMENDED S-1 FORM WITH SEC FOR SPOT BITCOIN ETF - THE BLOCK PRO
JUST IN: 🇺🇸 Fidelity and WisdomTree filed amendments to their spot #Bitcoin ETFs with the SEC 👀 https://t.co/W2UFEVQJxs
JUST IN: 🇺🇸 WisdomTree filed it's fifth amendment to it's spot #Bitcoin ETF with the SEC 👀 🔥🔥🔥 https://t.co/WgCENTbTM3
Just chatted a bit with @dotkrueger about exactly what an AP is and what this means: Basically, JP Morgan now has a license to print money by arb'ing the Blackrock Bitcoin ETF price against real Bitcoin. And ONLY JP Morgan (and Jane Street). In DeFi terms: it's as if you are… https://t.co/qhmwE4EQFi
JUST IN: Spot #Bitcoin ETF issuers continue the parade of announcing Authorized Participants as Grayscale names Credit Suisse Securities (USA), KCG Americas and Wedbush Securities as AP’s 👀 https://t.co/fM3iLfT1lu
Watch Jamie Dimon's hands, don't listen to his mouth. He's all in on #Bitcoin. https://t.co/D0a3xZGGY1
Jamie Dimon is by far the biggest scammer in America Trashes Bitcoin and Crypto but it was just announced that JP Morgan is an authorized participant for the bitcoin spot ETF. Stop looking up to these scoundrels https://t.co/EZSbRWjl2M
JUST IN: 🇺🇸 Bitwise filed it's third amendment to it's spot #Bitcoin ETF with the SEC. Another one! 💥 https://t.co/LogZNyvHfA
$JPM (Dimon) and Jane Street have been named as authorized participants for the new $BLK #Bitcoin etf Money talks, even to Dimon
Don't listen to Jamie Dimon watch his actions they speak much louder than his words https://t.co/F0nopvCxvT
*COINBASE CHANGES HEAD OF CUSTODY AMID RUSH FOR SPOT BITCOIN ETF APPROVAL - THE BLOCK
Coinbase changes head of custody amid rush for spot bitcoin ETF approval https://t.co/o0a2gN6mg1
Asset managers @BlackRock and @Valkyrie have named TradFi giants J.P. Morgan, Jane Street, and Cantor Fitzgerald as authorized participants for their yet-to-be-approved spot bitcoin exchange-traded fund (ETF). @HeleneBraunn reports https://t.co/f8tnruQW0B
A spot Bitcoin ETF is happening. It’s just a question of what prices do on the day of. I wouldn’t not be long here, it’s just a question of how levered/risky you want that long to be. https://t.co/iva6mzObOX
*VALKYRIE FILES AMENDED S-1 FORM WITH SEC FOR SPOT BITCOIN ETF - THE BLOCK PRO
Dec 6, 2023: JPMorgan's CEO says, "If I was the government I'd close Bitcoin down." Dec 29, 2023: JPMorgan is named as an "authorized participant" for BlackRock's spot Bitcoin ETF. https://t.co/HRjDGoBXb3
JPMorgan (Chase) told users that if they make crypto transactions their bank accounts will get deactivated...then they go and become the authorized participant (an organization with the right to redeem shares of and trade) of a crypto ETF. So glad to be done with them. https://t.co/Ha6PDSX5tB
Time for coinbase to go down the moment ETF's approved https://t.co/QkXKDYRXxC
JUST IN: 🇺🇸 Valkyrie filed it's fifth amendment to it's spot #Bitcoin ETF with the SEC They just keep coming in 🔥 https://t.co/JTxlfXlzzF
UPDATE: @ValkyrieFunds just filed another amended S-1 for their Bitcoin ETF. Anddddd they have named Jane Street and Cantor Fitzgerald as their APs. Floodgates opening. https://t.co/JisXS3XxVR https://t.co/GKKIoAvaTy
JUST IN: Coinbase says they have extensively prepared for Spot #Bitcoin ETF approval.
There are a lot of small updates going on with these Bitcoin $BTC ETFs ... feels like we're maybe getting closer What do you think, do we get a Spot Bitcoin ETF soon? https://t.co/MaHcRfpCCH
Never fade Blackrock The bitcoin spot etf will take your liberty so get ready to grift alongside the elites https://t.co/jyxLTDsdNI
Welcome to the table, Jamie Dimon Excited to hear what you think of $BTC now! https://t.co/S1l7cqAnJQ https://t.co/k3DdsdFSho
So *BlackRock* is first issuer to publicly complete SEC’s known requirements for spot bitcoin ETF approval… Shocked. Shocked I tell you lol. Also, do you all believe now? BlackRock not doing this to get rejected. https://t.co/UzPoaV799B
Jamie Dimon says Bitcoin should be banned. Now his bank JP Morgan has been named as an ‘Authorised Participant’ on BlackRock’s ETF application - the biggest name in funds management. Watch what they do. Not what they say. https://t.co/9fHle3wjf8
JPM is doing to bitcoin *exactly* what they do to metals.. with government (mandate) approval. Cc: @maxkeiser 👇 https://t.co/n8jWSVXlFo
A cheeky last-minute amendment to the Blackrock Bitcoin Spot ETF to include Jane Street and JPMorgan as Authorized Participants (APs). APs play a critical role in the functioning of ETFs; they are responsible for creating and redeeming ETF shares. They help maintain the… https://t.co/GRCeRUOYeC https://t.co/xoNTmFT728
BlackRock, $BLK, has dropped its updated S-1 for its spot Bitcoin ETF and it nams the APs as Jane Street and JPMorgan, $JPM, per Eric Balchunas of Bloomberg.
*VANECK TEASES ‘BUY BITCOIN’ IN SOCIAL MEDIA VIDEO AMID NEW FILING FOR SPOT ETF WITH SEC - THE BLOCK
VanEck teases 'Buy Bitcoin' in social media video amid new filing for spot ETF with SEC https://t.co/2QsizO2goc
JUST IN: BlackRock filed it's fifth and final amendment to it's spot #Bitcoin ETF with the SEC https://t.co/W7LuWpj4Xx
Why are people surprised that the authorized participant of the BlackRock Bitcoin ETF is no other than JP Morgan ? https://t.co/VYxddCWT4v
So... Jamie Dimon, who has called bitcoin a "hyped up fraud", "worse than tulips", etc, is going to be the Authorized Participant for the biggest bitcoin ETF soon to be approved by @GaryGensler, and run by the Fed's shadow money manager Couldn't make this up https://t.co/75KD8M0geu
BlackRock just dropped its updated S-1 and it DOES name the APs: Jane Street and JPMorgan (which is kinda ironic). Looks we have our first horse that at the starting gate. https://t.co/H3UmaesygJ
BREAKING: @coinbase SPOKESPERSON SAYS "WE HAVE EXTENSIVELY PREPARED FOR ETF APPROVAL... OUR SYSTEMS HAVE BEEN DESIGNED AND TESTED TO HANDLE ADDED TRADING VOLUME, INCREASED LIQUIDITY, AND GENERAL INCREASES IN DEMAND ON OUR SYSTEMS" - PER @Bloomberg https://t.co/erTwkESNIS
JUST IN: 🇺🇸 BlackRock filed it's fifth amendment to it's spot #Bitcoin ETF with the SEC 👀 https://t.co/es3Q6qvt8v
Coinbase ready for spot bitcoin ETF launches… All systems go. via @Yueqi_Yang https://t.co/isQw0908bI
Coinbase has changed its head of custody, potentially as a strategic decision for handling services related to spot Bitcoin ETFs https://t.co/0X6YPb2qGw
NEW: 🇺🇸 SEC approval of a spot #Bitcoin ETF could trigger a “Sell-the-News” event that would drop the price of #BTC “to as low as 💵$32K,” per CryptoQuant https://t.co/dpjFrXJSqm
JUST IN: 🇺🇸 Coinbase's head of custody has been replaced as the exchange gears up to provide services for spot #Bitcoin ETF applicants — Bloomberg 👀
Bitwise, Hashdex, and now VanEck... which asset manager behind a spot Bitcoin ETF application do you think will be next? https://t.co/biA1BC6m7Q
Bitcoin ETF Race Could Get Tighter After This Deadline ► https://t.co/G1QaqjfCI0 https://t.co/G1QaqjfCI0
How are you feeling about a Bitcoin ETF approval in early January? 👀
Quick preview of the Bitcoin ETF battle https://t.co/vHM8KmhbzO
Rick Schonberg replaces Aaron Schnarch as head of custody as Coinbase prepares for spot-Bitcoin ETFs. https://t.co/4Sht1yG32r
Rick Schonberg replaces Aaron Schnarch as head of custody as Coinbase prepares for spot-Bitcoin ETFs. https://t.co/IY0L8zCb5C via @technology
NEWS: VanEck’s bitcoin teaser, released ahead of a longer commercial, includes a number of Easter eggs https://t.co/SBjVbVyy5G
More and more spot #Bitcoin ETF applicants continue to release Bitcoin commercials 👀 The masses are coming 🚀 https://t.co/6PSDSoNaSN
⚡Bloomberg ETF analyst @EricBalchunas compared potentially coming spot #Bitcoin ETFs to gold ETFs in terms of custody of assets. “This will be the same thing,” he said. https://t.co/pNS66m15SJ
These bitcoin etf commercials are super cheesy. Should have hired @beeple to produce them instead
SEC's Bitcoin ETF Update Deadline Today: Cash-Create Vs In-Kind https://t.co/LMkUoT51Ak
Can BTC ETF approval be crypto history's biggest "Sell the News" event?👀 The crypto community is high on hopium that a Bitcoin ETF could finally get SEC approval in early 2023. Many see this as a moment that will trigger a massive bull run. But not so fast - an approved…
NEW: VanEck releases #Bitcoin ad featuring @PubKey_NYC 👀🙌 https://t.co/0BfyaOsokK
The #Bitcoin marketing blitz continues. @vaneck_us is here. https://t.co/6T3tTAiPnj
Grayscale and Ark have a hidden edge over BlackRock in the Bitcoin ETF race https://t.co/RsaSH2Jwup
🚨 This may be your last chance to buy #Bitcoin before BlackRock 🚨 https://t.co/YcftrdkNB8
#Ark Invest CEO #CathieWood foresees widespread institutional involvement in spot #bitcoin ETF following anticipated approval by the SEC. https://t.co/qCj5ZvsdWG
NEW: ETF approval will give the entire “universe of pensions and insurers” access to investing in #Bitcoin, Goldman Sachs executive Bullish 🚀
⚡SEC’s #Bitcoin ETF deadline today: @SECGov wanted a “little more controllable” of what BTC will be in the spot ETFs with its cash-create request, according to @EricBalchunas. https://t.co/jQSms1axDK
Are you expecting $BTC fuckery before the Jan 10 spot ETF deadlines?
ARK Invest and 21Shares Updated Bitcoin ETF Application in Compliance with SEC’s Request https://t.co/gLHzIvZS9n
Cathie Wood expects a spot bitcoin ETF approval in January 2024: "We're answering [SEC]'s uncertantities one by one ... I think the dialogues are very positive." https://t.co/yMoroJcCAK
“A lot of people still aren’t interested in investing in $BTC and just because an ETF becomes available doesn't mean that they’re going to,” says @tanayamacheel. “What you might see instead is rotation out of those Bitcoin investment products into… the spot bitcoin ETF.” https://t.co/uFcQAOh7x1
.@CathieDWood explains the decision ARK Invest has made to pivot away from GBTC, and toward the ProShares Bitcoin Strategy ETF (BITO). https://t.co/A7nTyOrAOi
Cathie Wood’s ARK invests in ProShares Bitcoin Strategy ETF after exiting GBTC: CNBC Crypto World https://t.co/sW4KZNgMP2
Could a bitcoin ETF approval be a sell-the-news event? What investors are expecting on the big day https://t.co/HV62hGutiA
Cathie Wood goes big into ProShares Bitcoin, dumps Grayscale https://t.co/xHlM1mBj5q via @business
i would not be levered (i'm 100% spot atm) but i still sorta doubt that Blackrock launches a hotly anticipated Bitcoin ETF and lets it dump 20% on day one just saying...
The Bloomberg ETF analysts have become absolute rockstars on X as the Bitcoin Spot ETF has come closer to approval. Love to see it. @EricBalchunas joins me momentarily to discuss what's coming. https://t.co/HaaDARUSri
The spot bitcoin ETF race could quickly reach your 401(k) retirement plan, per CNBC.
BREAKING: Hashdex drops another Bitcoin ETF commercial. This is getting 🔥 https://t.co/tB9EDhmROt
Cathie Wood’s ARK Revamps Crypto-Related Holdings Ahead of Bitcoin ETF Approval Decision https://t.co/IgR54rxGMX
$COIN (-1.9% pre) Ark Invest sells more Coinbase shares, allocates $92 million in ProShares bitcoin futures-based ETF - TheBlock https://t.co/UKCQPJ6eAz
$BITO (-1.6% pre) Cathie Wood Goes Big Into ProShares Bitcoin, Dumps Grayscale $GBTC - BBG https://t.co/aPgLBHjRVX
I'm around 70-80% confident that the approval of filed Bitcoin spot ETFs will be a sell the news event. Since BlackRock filed on June 16th open interest for CME BTC futures increased by +3.16B. These positions need to unwind & think many who were buying post FTX insolvency will… https://t.co/ClXqO2tdsy
NEW: Hashdex just dropped its newest ad for its #Bitcoin ETF “An idea whose time has come.” 👏 https://t.co/m2xC9nwF1c
There may be a big Bitcoin dip coming - and it could be your last chance to board the train before it leaves the station for new highs. And all of it surrounds the ETF... @EricBalchunas and I discuss at 9 AM EST. @ChartGuys joins as well! https://t.co/HaaDARVqgQ
Bitcoin Rises as the Countdown to ETF Approval Is On https://t.co/CE1GFMamYU
One of Cathie Wood’s exchange-traded funds executes a massive shake-up in its Bitcoin-related holdings as the cryptocurrency rounds out a blockbuster year https://t.co/C9wTcHn1S0
I find it hard to root for Bitcoin ETF. I mean, yay? 🤷🏿♂️