Bitcoin ETF hopefuls eye this week for long-awaited SEC greenlight
时间:2024-06-26 14:51:53 阅读(143)
A series of high-stakes deadlines this week will mark the culmination of a years-long push to launch exchange-traded funds backed by Bitcoin in the US.
Would-be Bitcoin ETF issuers have been given until Monday morning in Washington to submit any last-minute revisions to their pending applications, Bloomberg News has reported. The US Securities and Exchange Commission itself has until Jan. 10 to take action on at least one of those applications, and crypto insiders have speculated the regulator will use that date to announce a slew of decisions at once.
The SEC is planning to vote on the exchanges’ filings, the 19b-4s, in the coming days, Bloomberg News has reported. The regulator may or may not then take action on the issuers’ applications, the S-1s, around the same time. If the SEC grants both sets of required approvals, the ETFs could start trading as soon as the next business day.
An SEC representative declined to comment on the status of the applications.
ETF ImpactBitcoin’s boosters say ETFs backed by the largest crypto token would represent a watershed moment for digital assets. Billions of dollars are at stake, representing potential inflows from retail and institutional investors alike. “The market is still seriously underestimating the potential impact of a Bitcoin ETF approval,” said Michael Anderson, co-founder of crypto venture firm Framework Ventures. But the SEC under Democrat Gary Gensler and his Trump-era predecessor Jay Clayton has previously refused to allow such a product to launch, citing concerns about investor protection and the potential for market manipulation.
However, speculation has been mounting since August, when the SEC lost a key legal fight against crypto asset manager Grayscale Investments, that the regulator will have to acquiesce to the growing clamor for the product. Market wagers that regulatory approval is on the horizon fueled a jump of approximately 160% in Bitcoin last year. That still wasn’t enough to re-attain the record highs set in November 2021, when Bitcoin hit almost $69,000. The token has stayed in a relatively tight range around $44,000 since the start of 2024. It slipped about 2% to $43,400 as of 11:15 a.m on Monday in Singapore, part of a wider dip in crypto markets at the start of the working week.
Follow us onTwitter,Facebook,LinkedIn
猜你喜欢
- ZEEL stock jumps 3% despite posting Rs 53 cr loss in Q1, NCLT decision eyed; should you buy or sell Zee Ent-
- ONGC Videsh to get oil from Venezuela in lieu of $600 million dividend
- Wipro, Zomato, Paytm among 213 stocks to hit 52-week low on BSE amid sell-off, 46 scrips at fresh highs
- Firms, banks float bonds after RBI raises risk weights
- F&O Outlook- FIIs covering shorts, but stay vigilant entering expiry week; Nifty support in 16300-16250 range
- Oppo Find N2 Flip rough-cut- Everything to know in 5 points
- FIIs turn bullish on India as EM peers see a flight
- e 39,500. “Support placed at 17900 and 39,200.” Meanwhile, Nagaraj Shetti believes that any lack of strength around 17900-18000 levels in the next 1-2 sessions could pull Nifty below the resistance area in the short term. “On the other side, a decisive move above 18K mark is likely to pull Nifty towards the next upside target of 18600 levels in the near term. Immediate support is placed at 17760 levels,” he said.
Also Read: Zerodha’s Nikhil Kamath tells when to buy stocks, shares Buffett formula to find the right time
FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.
- FII DII data- FPI sold shares worth Rs 867