Bitcoin ETF

Bitcoin

Million

<p>The world’s largest cryptocurrency Bitcoin (BTC) surged past $47,000 on Monday, as issuers such as BlackRock, Fidelity, and others <a href="https://coingape.com/wisdomtree-vaneck-spot-bitcoin-etf-tickers-listed-on-dtcc/?utm_source=24hrsupdateall" target="_blank" rel="noopener">updated their paperwork</a> with the U.S. Securities and Exchange Commission (SEC).</p> 
<h3 id="vaneck-seeds-its-bitcoin-etf-with-72-5-million">VanEck Seeds its Bitcoin ETF With $72.5 Million</h3> 
<p>Those looking to issue spot Bitcoin Exchange-Traded Funds (ETFs) have revealed additional information about their initial funding through amended forms submitted early on Monday.</p> 
<p>Leading the pack is investment firm VanEck, which has taken a decisive step by seeding its potential spot Bitcoin ETF with an initial investment of $72.5 million, as revealed in its amended S-1 form.</p> 
<p>Bitwise, another contender in the race for a spot Bitcoin ETF, has disclosed seeding its proposed ETF with an initial amount of $500,000, according to its amended S-1 form. Additionally, Pantera Capital has expressed interest in contributing a substantial $200 million to the fund if it secures approval. It’s crucial to note that this expression of interest is stated as non-binding and indicative.</p> 
<p>Notably, BlackRock, a significant player in the financial industry, has entered the fray by seeding its potential spot Bitcoin ETF with an initial investment of $10 million, as per details provided in its amended S-1 form.</p> 
<p>Earlier this week on January 5th, VanEck committed to <a href="https://coingape.com/bitcoin-etf-approval-may-boost-vanecks-support-for-devs/" target="_blank" rel="noopener">allocating 5% of the prospective profits</a> from its spot Bitcoin ETF to support Bitcoin core developers at Brink. Additionally, VanEck initiated its support by making an initial donation of $10,000 to Brink to aid in furthering its crucial work.</p> 
<h3 id="bitcoin-price-to-surge-200-000-in-two-years">Bitcoin Price to Surge $200,000 In Two Years</h3> 
<p>As the financial sector anticipates regulatory decisions on Bitcoin spot ETF applications, Standard Chartered Bank delivered a <a href="https://coingape.com/standard-chartered-foresees-bitcoin-hitting-200k-by-2025/" target="_blank" rel="noopener">forecast</a> on Monday, suggesting that the price of Bitcoin could surpass $200,000 by the conclusion of 2025. Geoffrey Kendrick, the head of financial research at Standard Chartered Bank, conveyed this outlook to investors in a note.</p> 
<p>He emphasized that if anticipated inflows related to ETFs materialize, the bank envisions a potential year-end level approaching $200,000. Kendrick noted that this projection aligns with their earlier estimations, which targeted $100,000 by the conclusion of 2024.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">BREAKING<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/203c.png" alt="‼" class="wp-smiley" style="height: 1em; max-height: 1em;">Global banking giant Standard Chartered says $50-$100 BILLION could flow into <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ETFs in 2024 <a href="https://t.co/yQobJcs6EA">pic.twitter.com/yQobJcs6EA</a></p> 
 <p>— Bitcoin Archive (@BTC_Archive) <a href="https://twitter.com/BTC_Archive/status/1744410897127248300?ref_src=twsrc%5Etfw">January 8, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Some of the Bitcoin whales seem to be in a profit-taking zone as of now. Lookonchain reported that a strategic whale recently made a significant move, depositing the entirety of their 1,000 BTC (equivalent to $22.47 million) into Binance following a Bitcoin surge above $45,000, reports LookonChain.</p> 
<p>Notably, this smart whale has been actively depositing a total of 4,000 BTC (amounting to $178.7 million) into Binance over the past two weeks. The deposits were made at an average price of $44,673, with the whale executing sales at favorable high prices on each occasion.</p> 
<p>The post <a href="https://coingape.com/btc-price-jumps-past-47000-as-vaneck-seeds-its-bitcoin-etf-with-72-million/">BTC Price Jumps Past $47,000 As VanEck Seeds Its Bitcoin ETF With $72 Million</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

BTC Price Jumps Past $47,000 As VanEck Seeds Its Bitcoin ETF With $72 Million

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