Grayscale And VanEck's Latest SEC Filings Ignite Hopes For Spot ETF, Crypto Trader Projects Bitcoin Rally To $250,000
Portfolio Pulse from Khyathi Dalal
Grayscale and VanEck have filed paperwork with the SEC, indicating progress towards a spot ETF for Bitcoin. Grayscale Bitcoin Trust (GBTC) filed a Form 8-A registration, following Fidelity's filing earlier in January. VanEck Bitcoin Trust also filed its securities registration. Analysts, including Bloomberg's James Seyffart, suggest that the SEC could indicate approvals soon, potentially as early as January 8-10. ETF expert Nate Geraci referenced Coinbase's readiness for spot Bitcoin ETF launches. Crypto trader Ash Crypto projected a Bitcoin rally to $250,000, citing a significant influx of capital into the crypto market. This news has sparked optimism and a price rebound in the cryptocurrency markets.
January 04, 2024 | 5:22 pm
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Grayscale Bitcoin Trust (GBTC) filed a Form 8-A with the SEC, indicating a step towards a spot Bitcoin ETF, which could lead to increased investor interest and potential price appreciation.
The filing of Form 8-A by Grayscale is a significant regulatory step towards the launch of a spot Bitcoin ETF, which is generally viewed positively by investors as it provides easier access to Bitcoin investment through traditional financial markets. If approved, this could lead to increased demand for GBTC shares and a corresponding increase in its price in the short term.
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