Bitcoin business Just below the $47,000 mark on Tuesday as investors await decision regulator on whether approve America’s first exchange-traded fund directly tied to tokens.
The world’s largest cryptocurrency briefly topped $47,000 late Monday, boosted by multiple filings that showed what its potential is. etf Issuers plan to charge fees for products if they get the green light. Bitcoin was around $46,643 at 7:00 a.m. in New York – down about 1% in the past 24 hours.
The US SEC is expected to make a decision on some Bitcoin ETF applications by Wednesday, with many decisions expected to avoid giving spectators a first-mover advantage. Bitwise emerged from the pack on Monday as offering the cheapest fees for its planned ETF at 0.24% after an initial no-fee period, while Grayscale’s planned Bitcoin Trust was the most expensive at 1.5%.
Several issuers, including BlackRock and VanEck, filed amended S-1 forms for their ETFs on Tuesday morning, responding to comments and feedback made by the SEC on some applications on Monday.
The price of Bitcoin has seen strong volatility since the beginning of the year, due to speculation about proposed investment products. “We are in for a big week with one of the most important events in crypto history, the potential approval of Bitcoin Spot ETFs,” eToro markets analyst Simon Peters said in a note.
Meanwhile, monthly options volume for Bitcoin reached $29.9 billion last month – its highest level since the end of 2021.
The world’s largest cryptocurrency briefly topped $47,000 late Monday, boosted by multiple filings that showed what its potential is. etf Issuers plan to charge fees for products if they get the green light. Bitcoin was around $46,643 at 7:00 a.m. in New York – down about 1% in the past 24 hours.
The US SEC is expected to make a decision on some Bitcoin ETF applications by Wednesday, with many decisions expected to avoid giving spectators a first-mover advantage. Bitwise emerged from the pack on Monday as offering the cheapest fees for its planned ETF at 0.24% after an initial no-fee period, while Grayscale’s planned Bitcoin Trust was the most expensive at 1.5%.
Several issuers, including BlackRock and VanEck, filed amended S-1 forms for their ETFs on Tuesday morning, responding to comments and feedback made by the SEC on some applications on Monday.
The price of Bitcoin has seen strong volatility since the beginning of the year, due to speculation about proposed investment products. “We are in for a big week with one of the most important events in crypto history, the potential approval of Bitcoin Spot ETFs,” eToro markets analyst Simon Peters said in a note.
Meanwhile, monthly options volume for Bitcoin reached $29.9 billion last month – its highest level since the end of 2021.
