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Even if approved by Nov. 17, the spot Bitcoin ETFs are unlikely to come to market for at least a month after approval. The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, including Grayscale Investments conversion of its Grayscale Bitcoin Trust product. However, even if the SEC approve s spot Bitcoin (BTC) ETFs by Nov. 17, it could be more than a month before the products launch. The expected delay in launch following SEC approval would be due to the two-step process of launching an ETF. For an issuer to start a Bitcoin ETF, it must get approval from the SEC’s Trading and Markets division on its 19b-4 filing and its Corporate Finance division on the S-1 filing or prospectus. Of the 12 Bitcoin ETF applications, nine issuers have submitted revised prospectuses showing they have communicat...

Bitcoin is showing renewed strength and targeting yearly highs. Will altcoins follow suit? October is proving to be a solid month for Bitcoin (BTC) as the price is nearing the 2023 high at $31,805. Generally, major resistances are not cleared in the first instance as the bears come out in full force to guard the level. Therefore, a minor dip is to be expected, but that should not be considered as the start of a negative sentiment. Buyers regroup at lower levels and try to form a higher floor. That triggers further buying and starts a rally. This is a possibility in Bitcoin but risks remain. While the cooling of the United States dollar index (DXY) is a positive sign, the weakness in the S&P 500 Index (SPX) is a negative sign. Daily cryptocurrency market performance. Source: Coin360 Another risk to the rising cryptocurrency markets could come from the surging 10-year Treasury yield which once again rose above 5%. The rise in the yields show that the market participants are losing h...

“The gravitational pull in crypto for the time being stays in BTC,” said K33 senior analyst Vetle Lunde. The relatively lackluster performance of nine new Ethereum futures exchange traded funds (ETFs) has prompted analysts at K33 Research to urge a “ rotate back” into Bitcoin (BTC).  In an Oct. 3 market report , analysts Anders Helseth and Vetle Lunde said that it’s “time to pull the brakes on ETH and rotate back into BTC,” with the initial trading volume of Ether futures ETFs only accounting for 0.2% of what the ProShares Bitcoin Strategy ETF (BITO) amassed on its first day of trading in Oct. 2021. While the analysts noted that no one expected to see initial trading volume on the Ether futures ETFs “come anywhere close” to that of the Bitcoin futures ETFs — launched amid a raging bull market — the underwhelming first-day numbers “strongly” missed expectations. Day one trading of ETH futures ETFs accounted for just 0.2% of what BTC futures ETFs amassed in 2021. Source: K33 Research...

Following the U.S. SEC’s approval of spot Ethereum exchange-traded funds, VanEck has launched its Ethereum Strategy ETF. Investment management firm VanEck is set to begin trading of its Ethereum (ETH) Strategy ETF on Oct. 2, with the product now listed on its website under the ticker EFUT and set for trading on the Chicago Board Options Exchange (CBOE). The VanEck Ethereum Strategy exchange-traded fund (ETF) will look to accrue capital by investing in ether futures contracts, and does not have any direct exposure to ETH. The fund will offer exposure to cash-settled ETH futures contracts traded on CFTC-regulated commodities exchanges. VanEck also touts the benefits of the product being a C-Corp structure, which includes tax benefits to long investors in comparison to registered investment company structures. When you’re ready, ENTER THE ETHER. The VanEck Ethereum Strategy ETF ($EFUT) is coming soon. Read our press release: https://t.co/4QPOVd5nB2 pic.twitter.com/vSF3HzMuvC — VanEc...

Bitcoin and altcoin prices continue to slump, but potential progress on the debt ceiling discussion could possibly produce a price reversal. Bitcoin is threatening to break the narrow range to the downside. The cryptocurrency markets seem to be taking cues from the United States equities markets, which have been down for two straight days due to the uncertainty regarding the debt ceiling negotiations.  If the debt ceiling talks stretch further, traders may lighten their positions from risky assets, as a debt default by the U.S. is likely to have huge financial implications around the world. Even cryptocurrencies could witness a sell-off, and analysts have not ruled out a potential fall to $20,000 for Bitcoin (BTC). Daily cryptocurrency market performance. Source: Coin360 Institutional investors maintained their cautious stance in the near term. CoinShares’ “Digital Asset Fund Flows Report” published on May 22 shows an outflow of $32 million, taking the total outflow in the past five w...

In the last 24 hours, Bitcoin's percentage of the crypto market cap retreated by nearly 1% while Ether gained just over 1.1%. Ether (ETH) prices have topped the psychological $2,000 level following the Shapella upgrade this week and the result is a decline in Bitcoin (BTC) market dominance. According to Data from the Analysis site btctools.io Ether’s market share climbed to 19.8%, an over 1.1% boost in the last 24 hours while Bitcoin's dominance slid by just under 1%. Since the beginning of the year, ETH dominance has increased by 7.6%. Bitcoin’s market dominance has fallen to 47.7% as Ethereum’s market share increased. The post-Shapella ETH rally has knocked BTC off an almost two-year high in terms of market share. BTC's market share tapped 48.8% on April 12 following its rally to $30,000, the highest it’s been since July 2021 when it came just shy of 50%. Additionally, BTC has not been over 50% dominant since April 2021. Bitcoin's dominance remains up 13.6% sin...

ETH price struggles to flip $1,700 to support, but key derivatives data show bulls making plans to break through the resistance. The price of Ether (ETH) rallied 16% between Jan. 14 and Jan. 21, peaking at $1,680 before facing a 5.4% rejection. Curiously, the same resistance level resulted in a substantial correction in late August 2022 and again in early November 2022.  Ether/USD price index, 2-day. Source: TradingView From one side, traders are relieved that Ether is trading up 35.5% year-to-date, but the repeated corrections that follow retests of the $1,680 resistance may have weakened investors ' sentiment. Negative newsflow might have limited Ether investors' appetite after troubled cryptocurrency company Digital Currency Group (DCG) faced more legal issues this week. On Jan. 23, a group of Genesis Capital creditors filed a lawsuit alleging violations of federal securities laws. In addition, the plaintiffs allege the lending firm made false and misleading statements thr...

Bitcoin’s chart shows a tug-of-war between bulls and bears, and this is having a slight impact on the upward price action of most altcoins. Risk assets have started the new year on a strong note. The S&P 500 (SPX) and the Nasdaq closed in the positive for the second successive week and also notched their best weekly performance since November.  Bitcoin (BTC) led the recovery in the crypto Markets with a sharp 21% rally last week. That sent the Bitcoin Fear and Greed Index into the neutral territory of 52 on Jan. 15, its highest since April 5, 2022. However, the index has given back its gains and is again back into the Fear zone on Jan. 17. Daily cryptocurrency market performance. Source: Coin360 The strong rally in Bitcoin has divided analysts' opinions. While some expect the rally to be a bull trap, others believe that the up-move could be the start of a new bull market. The confirmation of the same will happen during the next dip. If the cryptocurrencies form a higher low fo...