Bitcoin ETF

Bitcoin

<p>The Bitcoin ETF approval shall likely come on this Wednesday, January 10, with whales making all efforts to scoop the maximum supply. As per on-chain indicators, whale transactions have hit their highest levels in 18 months since June 2022.</p>
<h3 id="bitcoin-whale-scoops-1-750-btc">Bitcoin Whale Scoops 1,750 BTC</h3>
<p>LookOnChain, an on-chain data provider, reports a strategic move by a discerning whale in the crypto market. Over the past two days, this savvy investor has acquired 1,750 BTC (equivalent to $76.9 million) from the popular exchange Binance, strategically making purchases at $43,953 per Bitcoin.</p>
<p>This recent accumulation follows a larger-scale initiative by the same whale, spanning from August 24 to September 2, during which they amassed a substantial 6,000 BTC (amounting to $158.66 million) at a favorable price of $26,444 per Bitcoin.</p>
<p>Taking advantage of market conditions, the whale deposited 3,000 BTC (equivalent to $105.7 million) back into Binance when the price reached $35,241, resulting in a significant profit of $26.4 million. As of the latest data, the smart whale currently holds a total of 4,750 BTC, <a rel="noopener noreferrer nofollow" href="https://twitter.com/lookonchain/status/1744204268700365289" target="_blank">valued</a> at $207.4 million. This strategic maneuver suggests a calculated and opportunistic approach by the whale in navigating the cryptocurrency market.</p>
<h3 id="all-eyes-on-the-etf-approval">All eyes on the ETF Approval</h3>
<p>This week brings a critical juncture for the long-anticipated <a href="https://coingape.com/spot-bitcoin-etf-odds-of-sec-disapproval-falls-to-5/?utm_source=24hrsupdateall" target="_blank" rel="noopener noreferrer nofollow">launch of Bitcoin-backed exchange-traded funds (ETFs)</a> in the United States, with several high-stakes deadlines approaching. As reported by Bloomberg News, prospective Bitcoin ETF issuers have until Monday morning in Washington to make any final adjustments to their pending applications.</p>
<p>The successful initiation of spot-backed Bitcoin ETF trading hinges on meeting two key technical requirements. Firstly, the Securities and Exchange Commission (SEC) needs to approve the 19b-4 filings submitted by the exchanges set to list the ETFs. Secondly, the regulator must greenlight the relevant S-1 forms, the registration applications from the aspiring issuers, which include industry giants like BlackRock and Fidelity.</p>
<p>Bloomberg News <a rel="noopener noreferrer nofollow" href="https://www.bnnbloomberg.ca/bitcoin-etf-hopefuls-eye-this-week-for-long-awaited-sec-greenlight-1.2018968" target="_blank">reports</a> that the SEC is slated to vote on the exchanges’ 19b-4 filings in the coming days. Following this, the regulator may decide on the issuers’ S-1 applications, potentially aligning with the same timeframe. If the SEC grants approval for both sets of requirements, the ETFs could commence trading as early as the subsequent business day.</p>
<p>The post <a href="https://coingape.com/bitcoin-whale-accumulates-1750-btc-ahead-of-bitcoin-etf-approval/" rel="noopener noreferrer nofollow">Bitcoin Whale Accumulates 1,750 BTC Ahead of Bitcoin ETF Approval</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Bitcoin Whale Accumulates 1,750 BTC Ahead of Bitcoin ETF Approval

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