Bitcoin ETF

Spot

<a href="https://bitcoinworld.co.in/spot-bitcoin-etf-is-already-approved-is-spot-ether-etf-the-next/" title="Spot Bitcoin ETF Is Already Approved, Is Spot Ether ETF The Next?" rel="noopener noreferrer nofollow"></a>
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 <li style="font-weight: 400">On Jan. 10, the US SEC approved 11 of the much anticipated Spot Bitcoin ETFs, is Spot Ether ETF the next frenzy?</li>
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The world’s largest asset manager, BlackRock, and 13 other institutional giants got the nod from the United States Securities and Exchange Commission (SEC) to launch the first spot Bitcoin exchange-traded funds (ETF) in the United States on Jan. 10.
BlackRock’s entry in the spot Bitcoin ETF race gave crypto proponents a new sense of optimism because the firm is the world’s largest asset manager, with over $8 trillion in assets under management and an impeccable ETF approval record.
BlackRock had a record of 575 approvals to one ETF rejection in its history, and with spot BTC approval, the record is now 576-1.&nbsp;
This was one of the key reasons that made analysts and market pundits sure about a potential approval even before the SEC decided.
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 BlackRock submitting their ETF application <a href="https://t.co/rJNPCXwr0v" rel="noopener noreferrer nofollow">pic.twitter.com/rJNPCXwr0v</a>
 — rwlk (@sherlock_hodles) <a href="https://twitter.com/sherlock_hodles/status/1745193131576901773?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 10, 2024</a>
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Following the approval of spot BTC ETFs, the crypto community has already started speculating about the potential approval of an Ether ETF approval in May.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/us-sec-approves-spot-bitcoin-etfs-to-trade-on-us-markets/" aria-label="“US SEC Approves Spot Bitcoin ETFs To Trade On US Markets” (Edit)" rel="noopener noreferrer nofollow">US SEC Approves Spot Bitcoin ETFs To Trade On US Markets</a>
BlackRock filed for a spot Ether ETF in November 2023. The SEC deadline for a decision to approve or deny the application is May 23, and many crypto proponents believe a spot Ether ETF could be approved.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BlackRock doesn't lose. Looking like August for <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ETF. <a href="https://t.co/rlJmE3RIRZ" rel="noopener noreferrer nofollow">https://t.co/rlJmE3RIRZ</a> <a href="https://t.co/G2sbA0Mysl" rel="noopener noreferrer nofollow">pic.twitter.com/G2sbA0Mysl</a>
 — fewture (@fewture) <a href="https://twitter.com/fewture/status/1745250860127654277?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 11, 2024</a>
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Bloomberg senior analyst Eric Balchunas, who gave a 95% chance that the spot BTC ETF applications would be approved in the lead-up to the SEC’s decision on Jan. 10, believes there is a 70% chance of an Ether ETF approval in <a href="https://twitter.com/WClementeIII/status/1745202909271167079" rel="noopener noreferrer nofollow">May</a>.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 New deadline to obsess over just dropped
 May 23rd is the final deadline for decision on VanEck’s spot ETH ETF <a href="https://t.co/dgi5EVbPeQ" rel="noopener noreferrer nofollow">pic.twitter.com/dgi5EVbPeQ</a>
 — Will (@WClementeIII) <a href="https://twitter.com/WClementeIII/status/1745202909271167079?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 10, 2024</a>
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The price of Ether shot up 10% on BTC ETF approval day. However, BTC traded in the same range throughout the day and dipped below $46,000 momentarily before recovering.
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Spot Bitcoin ETF Is Already Approved, Is Spot Ether ETF The Next?

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