Bitcoin ETF

Bitcoin

Pando

Spot

<img width="1260" height="710" src="https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2.jpg" class="attachment-full size-full wp-post-image" alt="Bitcoin Spot ETF" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2.jpg 1260w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2-1224x690.jpg 1224w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2-768x433.jpg 768w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-ETF-2-150x85.jpg 150w" sizes="(max-width: 1260px) 100vw, 1260px">
Swiss asset manager Pando marks a significant step in its expansion with the latest move into the U.S. financial market. On December 5, the firm filed a 19b-4 with the Chicago Board Options Exchange (CBOE), officially joining the race for the much-anticipated U.S. spot Bitcoin ETF. This development places Pando among 13 potential issuers vying for the spot in a market brimming with opportunity. 
<h2 id="pando-s-existing-crypto-credentials">Pando’s Existing Crypto Credentials</h2> 
Although new to the U.S. Bitcoin ETF arena, Pando is no stranger to crypto exchange-traded products (ETPs). The firm already has a foothold in the European market with three other spot crypto ETPs listed on the SIX Swiss Exchange. This move signifies Pando’s expanding ambitions and commitment to establishing a global presence in the cryptocurrency sector. 
The recent filing follows closely on the heels of Pando’s initial form <a href="https://coingape.com/breaking-pando-asset-joins-race-for-spot-bitcoin-etf-in-us/">S-1 submission</a>, which registered securities with the U.S. Securities and Exchange Commission for the Pando Asset Spot Bitcoin Trust. The Bank of New York Mellon is set to play a pivotal role as the administrator for this proposed ETF. However, Pando is not registered with the SEC as an investment company, adding complexity to their application. 
<h2 id="bitcoin-price-rallies-past-43k">Bitcoin Price Rallies Past $43K</h2> 
The cryptocurrency market has shown a positive response, with <a href="https://coingape.com/price/bitcoin/">Bitcoin’s price</a> surging above $43,000, a peak not witnessed before the TerraUSD collapse in May 2022. This uptick reflects the market’s optimism about the potential approval of a U.S. spot Bitcoin ETF. Analysts, including Bloomberg Analyst Eric Balchunas, express strong confidence in the likelihood of an <a href="https://www.google.com/url?client=internal-element-cse&amp;cx=e6c2264173c544ed8&amp;q=https://coingape.com/breaking-bloomberg-etf-analyst-clears-air-on-new-odds-of-spot-bitcoin-etf-approval/&amp;sa=U&amp;ved=2ahUKEwj7yKvI8_iCAxUyUaQEHdyYD4kQFnoECAkQAg&amp;usg=AOvVaw1Hopcq3fFhKPy4KGAPrvhN">ETF approval</a>, pegging the odds at 90% by January 10. 
<h2 id="impact-of-the-proposed-etf-on-bitcoin-market">Impact of the Proposed ETF on Bitcoin Market</h2> 
The crypto community is closely monitoring the <a href="https://www.google.com/url?client=internal-element-cse&amp;cx=e6c2264173c544ed8&amp;q=https://coingape.com/spot-bitcoin-etf-crypto-market-news/&amp;sa=U&amp;ved=2ahUKEwjZ5oWn8_iCAxVORKQEHYPWD1QQFnoECAMQAg&amp;usg=AOvVaw0eTDN2Fl8AhENjk2C9rape">developments</a> around the U.S. spot Bitcoin ETF, especially in light of the upcoming Bitcoin halving event. Data from Coinglass indicates a significant impact already, with over $109 million in Bitcoin short positions being liquidated in the past 24 hours. This movement underscores the market’s sensitivity to regulatory progress and the anticipation surrounding the SEC’s decision. 
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The post <a rel="nofollow" href="https://coingape.com/pandos-19b-4-filing-sparks-excitement-in-u-s-bitcoin-etf-race/">Pando’s 19b-4 Filing Sparks Excitement in the U.S. Bitcoin ETF Race</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Pando’s 19b-4 Filing Sparks Excitement in the U.S. Bitcoin ETF Race

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