Compilation of Bitcoin Spot ETFs from Various Institutions: Early September Might Be Key for Approval
Bloomberg ETF analyst James Seyffart posted that the latest Bitcoin ETF applicant, ValkyrieFunds, was added to the federal register yesterday (7/21). The next significant date to watch is the deadline for Ark/21Shares on August 13, 2023, but Seyffart expects it to be delayed again, and perhaps Grayscale and the SEC court ruling will be announced before then.
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Bitcoin Price Shows Signs of Weakness
Since the asset giant BlackRock applied for a Bitcoin spot ETF, Bitcoin has been on the rise from $24,800 in mid-June to a peak of $31,804. However, it seems to be losing momentum, dropping to $29,778 at the time of writing. Chris Bendiksen, Bitcoin Research Head at CoinShares, believes that three challenges have led to the current stagnation in digital assets: the outcome of the Bitcoin spot ETF application, potential actions by the US Department of Justice against Binance, and the market shifting to other altcoins following the XRP ruling.
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