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According to a post from Kaiko, a leading source of cryptocurrency market data, analytics, indices, and research, dated Nov. 10 on X, spot volumes are on a positive uptrend. The promising numbers are believed to be a product of ETF excitement with news from BlackRock. A $6 billion spike Data shows that from lows of less than $1 billion in February of this year, spot volume , or the total amount of a particular asset or cryptocurrency that has been traded in the spot market within a specific timeframe has now exceeded $6 billion in November, after a volatile few months. #ETH spot volumes surged to their highest level since the FTX collapse boosted by ETF excitement. pic.twitter.com/WrSEiKVP0y — Kaiko (@KaikoData) November 10, 2023 In the same day, Ethereum (ETH), the second-largest digital asset by market capitalization, demonstrated a notable upswing on Nov. 9, hitting its 52-week peak at $2,137. You might also like: Kaiko reports Alameda gap still exists At ...

While unlikely, Bloomberg’s ETF analysts conceded that there’s always a possibility that SEC Chair Gary Gensler could be waiting until the last moment to deny the flurry of pending spot Bitcoin ETF applications. There’s a slim chance the United States Securities and Exchange chief Gary Gensler could pull the plug on spot Bitcoin (BTC) exchange-traded funds in one “amazingly sadistic” move, according to Bloomberg ETF analysts .  In an Oct. 31 tweet directed at senior Bloomberg ETF analysts James Seyffart and Eric Balchunas, ETF commentator Dave Nadig posed whether Gensler may be allowing for spot Bitcoin ETF applications to pile up just to deny them all at once in a “semi-comedic rug-pull.” “I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comedic rug-pull,” said Nadig. I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comed...

The Michael Saylor-led software firm has made $132 million in unrealized profits from its Bitcoin bet. MicroStrategy's Bitcoin (BTC) holdings have turned profitable for the first time since July this year as the BTC price has broken through above $30,000. MicroStrategy up $132M in paper profits As of Oct. 23, MicroStrategy held 158,245 BTC worth $4.847 billion, up about $132 million from the original amount invested — at an average rate of 29,870 per BTC. In other words, the firm is now up at least $130 per coin. MicroStrategy Bitcoin holdings as of Oct. 23. Source: BlockchainCenter.Net MicroStrategy started buying Bitcoin in 2020. The firm ramped up purchases in 2023 as BTC's price recovered from extreme losses caused by the Federal Reserve's rate hike policy and high-profile crypto bankruptcies and implosions. In September 2023, MicroStrategy acquired 5,444 BTC by raising an equivalent amount of capital, mirroring the approach that saw the firm buying approximately 12,33...

Grayscale filed an application to launch an Ethereum futures -based exchange-traded fund (ETF). According to The Wall Street Journal, Grayscale filed an application for an Ethereum (ETH) futures exchange-traded fund (ETF). This latest application was filed under the Securities Act of 1933, the same regulatory framework governing commodities and spot Bitcoin (BTC) ETFs. Previously, Grayscale also filed for an Ethereum futures ETF under the Investment Company Act of 1940 — the act that regulates most security-based ETFs. This is an important distinction per the report since the SEC has approved Bitcoin futures ETFs under both acts. Grayscale vs SEC Grayscale, the manager of the world’s largest Bitcoin fund, has been involved in a legal battle with the U.S. Securities and Exchange Commission (SEC) over its request to convert its investment vehicle, the Grayscale Bitcoin Trust (GBTC), into an exchange-traded fund (ETF). The SEC initially rejected Grayscale’s proposal, c...

Grayscale GBTC Trust conversion to an ETF will unlock a potential sale of up to $18 billion in Bitcoin. The introduction of a spot-based Bitcoin (BTC) exchange-traded fund (ETF) would make the asset more accessible to individual investors and mutual funds. What's more, unlike a futures-based Bitcoin ETF, a spot-based ETF involves actually buying BTC. So will the approval of the first Bitcoin ETF be a bullish event? Not necessarily. GBTC 'discount' remains in the double digits  Over the years, the U.S. Securities and Exchange Commission (SEC) has rejected every Bitcoin ETF applicant, and the latest denial was issued to VanEck Bitcoin Trust on March 10, 2023. The SEC concluded that the offer did not have a "comprehensive surveillance-sharing agreement with a regulated market of significant size related to spot Bitcoin." Regulators are hesitant to release what many believe would be a more equitable and transparent Bitcoin product.  Investors now question whether the...

The top eight financial institutions with an interest in Bitcoin and crypto have a whopping $27 trillion in combined assets under management. There is at least $27 trillion of assets managed by major U.S. financial institutions that are also “actively” seeking to provide clients with exposure to Bitcoin (BTC) and crypto .  On June 26, CoinShares chief strategy officer Meltem Demirors highlighted at least eight major financial institutions that have signaled moves in the digital assets space, including BlackRock’s spot Bitcoin ETF filing and Fidelity’s crypto wealth management solutions. Others include JP Morgan, Morgan Stanley, Goldman Sachs, BNY Mellon, Invesco and Bank of America. “Many of the largest financial institutions in the US are actively working to provide access to Bitcoin and more,” she noted, adding that there is a whopping $27 trillion in assets under management between them. 1/ last week's @BlackRock spot Bitcoin ETF filing was big news! but, it's not the on...

The new funds would invest in a wide range of different crypto-related assets including Bitcoin miners and privacy tech. Three new crypto -focused exchange-traded funds (ETFs) have been put forward for approval by crypto currency asset manager Grayscale Investments, which also announced a new entity to manage its growing funds . On May 9, Grayscale said it launched a new arm of its business — the Grayscale Funds Trust — allowing it to manage many of its publicly traded financial products in-house. In addition to the new trust, Grayscale revealed it filed a registration statement with the United States Securities and Exchange Commission (SEC) for three new crypto-focused ETFs, despite previous roadblocks from the regulator over crypto-related ETFs. The new funds comprise an Ethereum Futures ETF, a Global Bitcoin Composite ETF along with a Privacy ETF. The Global Bitcoin Composite ETF would invest in exchange-traded products that are related to or backed by Bitcoin (BTC), including ...