Several major asset managers, including VanEck, BlackRock, Fidelity, and Bitwise, are actively pursuing the approval of spot Bitcoin exchange-traded funds (ETFs) with the SEC. The SEC is considering a cash creation and redemption system to mitigate market manipulation risks. Debate is ongoing regarding the best approach for spot Bitcoin ETF issuers, with some advocating for holding actual Bitcoin to address concerns over 'paper Bitcoin' and self-custody. Additionally, there is a discussion about the proportion of spot Bitcoin traded versus derivative volumes, with the expectation that spot Bitcoin ETFs will reduce the influence of the latter. Notably, Bitwise plans to seed its spot Bitcoin ETF with $200 million. Cathie Wood believes that SEC approval of spot Bitcoin ETFs will encourage institutional investor participation. Hong Kong's spot Bitcoin ETF, which adopts both cash and in-kind models, is projected to have greater bullish potential than U.S. ETFs due to the size of Asia's market.
🔴 BLACKROCK, VANECK AMONG ASSET MANAGERS THAT SUBMITTED UPDATED FILINGS FOR SPOT BITCOIN ETF -RTRS https://t.co/ms0M3M05wc
🔴 BLACKROCK, VANECK AMONG ASSET MANAGERS THAT SUBMITTED UPDATED FILINGS FOR SPOT BITCOIN ETF - RTRS
We're potentially less than 48hr away from tacit ETF approval + Bitwise has someone wanting to seed $200m in their spot $BTC ETF.....and you're bearish anon? https://t.co/YoZLOizuTo https://t.co/zzLR6zmXgo
#Bitwise has revealed in its amended filing with the SEC a plan to seed its spot #bitcoin ETF with $200 million. https://t.co/0SDmQCIxxP
Since 2013, there has been only one instance when $BTC witnessed 5 consecutive green months... Will the #Bitcoin ETF approval lead to another one of those? https://t.co/sHXVyHLyBA
Hong Kong's spot bitcoin ETF, adopting both cash and in-kind models, project greater bullish potential than U.S. ETFs due to the size of Asia's market. My latest article in @Forbes @JSeyff @EricBalchunas @ForbesCrypto #Bitcoin https://t.co/GnUPHwwwO1
#Bitwise Reveals Plan to Seed Spot #Bitcoin ETF With $200 Million https://t.co/0SDmQCIxxP
.@CathieDWood told us this week she believes SEC approval of the spot $BTC ETFs will give "the green light for institutional investors to participate.” https://t.co/EDsBxXagf6
Cash vs In-kind ETFs The SEC has informed the potential providers of spot Bitcoin ETFs that the creation and redemption process will be on a “cash-only” basis rather than “in-kind” We explain what this means & provide data on the abundance of cash only ETFs… https://t.co/sygI1o58bP
Fidelity's spot #Bitcoin ETF will have a 0.39% fee. Invesco and Galaxy are waiving their fee for first 6 months. This is just the start of the Bitcoin ETF fee war between the worlds largest asset managers 🔥 https://t.co/Cdj8UYJZZG
Bitwise is going to seed its spot #Bitcoin ETF with $200 million. And they're just getting started 🚀 https://t.co/yWsuB73zvV
Pro take: Bitcoin spot ETFs will dramatically increase the proportion of spot BTC traded vs derivative (unbacked) volumes ... reducing the influence of the latter Bitcoin's price will be more difficult to suppress, not easier
Some BS flying around, so for those that don't know: - spot ETFs are legally obliged to invest net inflows in Bitcoin, which will be held by a custodian, fully audited, etc. - ETF providers are 'seeding' their ETFs by having cash on the exchange/s ready to buy when inflows occur…
Debate heats up over the best approach for spot #Bitcoin ETF issuers. Some analysts advocate holding actual BTC, citing concerns over 'paper Bitcoin' and self-custody. https://t.co/pNS66m0y3b
The SEC opts for a cash creation & redemption system for a potential spot #Bitcoin ETF, aiming to curb market manipulation risks. https://t.co/q967MUkFAW
ICYMI: 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/auN4VwDcW4
Amid #bitcoin ETF race, Wall Street giants @BlackRock, @Fidelity and @InvescoUS dot their bureaucratic I's as likely SEC action looms. @realDannyNelson reports https://t.co/HPQZixKVvO
ICYMI: VanEck teases ‘Buy Bitcoin’ in social media video amid new filing for spot ETF with SEC https://t.co/TZxDjfaWoM