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Bitcoin’s price rally mirrors investor optimism, with the Fear and Greed Index reaching highs not seen since November 2021. What’s next? Bitcoin’s (BTC) price trajectory from October to early November exhibits a commendable uptrend, marking approximately a 34% increase from the $27,000 range at the start of October to a 16-month peak of $35,919 on Nov. 2. However, the atmosphere has cooled somewhat amid the volatility sparked by the trial of cryptocurrency figure Sam Bankman-Fried, with Bitcoin’s value adjusting to the $34,200 mark as of Nov. 3. The rally seen in October can be attributed to a confluence of key factors. Prominently, the crypto community was buoyed by the prospects of a spot Bitcoin exchange-traded fund (ETF) gaining approval from the U.S. Securities and Exchange Commission (SEC).  Moreover, in the context of global economic uncertainty – intensified by the ongoing geopolitical tensions, including those in the Middle East and between Ukraine...

Fake news on Bitcoin ETF, initially posted by Cointelegraph, forced a whale to buy an astounding amount of Bitcoin Futures. A whale made a Bitcoin (BTC) futures purchase of $5.7 billion following the false report suggesting that BlackRock, the world’s largest asset manager, had obtained approval for a BTC spot exchange-traded fund (ETF).  Ki Young Ju, co-founder and CEO of market resource CryptoQuant, highlighted this development on X. Bitcoin’s pump on the back of the false ETF report had catalyzed a high trading activity and short liquidations. Ju confirmed that the market witnessed $42 million in liquidations. Someone(s) bought ~$5.7B worth of $BTC futures using market orders in an hour, and $42M in short positions were liquidated across all exchanges.https://t.co/JDrkUzPMqq pic.twitter.com/5bMK6Freqm — Ki Young Ju (@ki_young_ju) October 16, 2023 Contrary to initial speculation, this market surge does not qualify as a traditional short squeeze, according t...

Grayscale Bitcoin Trust (GBTC) is seeing its smallest discount in nearly two years amid growing anticipation for potential approval of spot Bitcoin ETFs in the U.S. Recent figures from YCharts indicate that GBTC’s discount to Bitcoin’s net asset value (NAV) has contracted to 15.87% as of Oct. 13. THE GBTC DISCOUNT HAS NARROWED TO 16% AS THE MARKET BETS ON A BITCOIN SPOT ETF APPROVAL. Grayscale's Bitcoin Trust, commonly known as GBTC, has experienced notable changes in its market dynamics. At the start of this year, GBTC was trading at a significant discount of 48.31%… pic.twitter.com/2nWLmvnewb — The Wolf Of All Streets (@scottmelker) October 13, 2023 The discount to NAV is a crucial metric that indicates how much a mutual fund or ETF is trading below its net asset value. It serves as a gauge to measure the gap between the trading price of a security and its actual worth. The narrowing of GBTC’s discount appears to have been influenced by the filing ...

The U.S. Securities and Exchange Commission (SEC) has extended the deadline for ARK 21Shares’ spot Bitcoin (BTC) ETF to January 2024. This extension underscores the SEC’s unchanged stance on crypto exchange-traded funds (ETFs). In a filing on Tuesday, Sept. 26, the SEC said that it finds it “appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change.” The watchdog noted it still has an additional 60 days to consider the listing, however, the final deadline is still set for Jan. 10, 2024. You might also like: SEC’s Gensler avoids Bitcoin ETF question in latest Senate hearing The SEC delayed its decision on ARK 21Shares Bitcoin ETF even though U.S. lawmakers urged the agency to approve an exchange-traded crypto product (crypto ETP) as soon as possible. On Tuesday, Sept. 26, a group of Republican and Democratic lawmakers u...

Valkyrie recently filed a Form 497 detailing its plan to transform its existing Bitcoin Technique exchange-traded fund (BTF) into a dual Bitcoin and Ether exchange-traded fund (ETF) on Oct. 3.  Finance experts are questioning the decision to convert the current futures fund rather than forming a whole new business. Observers speculate that regulatory procedures under the U.S. Securities and Exchange Commission (SEC) make it impossible to deviate from the set deadline. Bloomberg ETF analyst Eric Balchunas compares Valkyrie’s move to that of the first marijuana ETF, MJ, which also aimed to gain market share. INTERESTING: Valkyrie just filed a 497 that they plan to convert $BTF into a Bitcoin + Ether ETF on Oct 3rd, which would would be two wks ahead of the other 13 filers scheduled launch. We'll see if this flies. Something similar happened back in day with $MJ, the first pot ETF https://t.co/Ypnien30ED pic.twitter.com/W9WiU2xc0W — Eric Balchunas (@EricBalchunas) Au...

Crypto asset manager Valkyrie has filed for a spot Bitcoin ETF while listing Coinbase as an SSA counterpart. Moreover, following similar filings, the firm has included the Surveillance Sharing Agreement (SSA) to better comply with the US Securities and Exchange Commission (SEC) standards. The rise in Spot Bitcoin ETF filings has been notable since BlackRock initially filed this month. Subsequently, fellow asset management behemoth Fidelity filed suit. Additionally, both utilized Coinbase in their SSA proposals. Specifically to combat initial SEC responses to the filings.  JUST IN: Crypto asset manager Valkyrie files for Spot #Bitcoin ETF, naming Coinbase as SSA counterpart. — Watcher.Guru (@WatcherGuru) July 5, 2023 Also Read: Coinbase Jumps 12% After Spot Bitcoin ETF Partnership Reveal Valkyrie Files for Spot Bitcoin ETF The digital asset industry was surprised this month when asset management firm BlackRock filed for a Spot Bitcoin ETF . Thereafter, t...

On behalf of BlackRock, Nasdaq has included a Coinbase surveillance sharing agreement (SSA) in a spot Bitcoin ETF refilling. Moreover, the updated submission for iShares Bitcoin Trust was noted in a 19b-4 form. The move follows similar decisions taken in recent Bitcoin exchange-traded fund submissions.  The massive asset manager has reportedly reached an agreement with Coinbase in regard to this new ETF. Specifically, the surveillance-sharing agreement will allow the ETF to counter what may be the US Securities and Exchange Commission’s (SEC) greatest concern. Specifically regarding the worry of potential market manipulation. JUST IN: $9 trillion asset manager BlackRock names Coinbase as SSA counterpart in updated Spot #Bitcoin ETF filing. — Watcher.Guru (@WatcherGuru) July 3, 2023 Also Read: Spot Bitcoin ETF Approval by SEC ‘Fairly High’: Bernstein BlackRock Includes Coinbase in Spot Bitcoin ETF Refiling In recent weeks, Spot Bitcoi...