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According to popular cryptocurrency Youtuber CryptosRUs, the approval for the first Bitcoin (BTC) spot exchange-traded fund (ETF) in the U.S. could be coming within days. In a video posted on Oct. 31, CryptosRUs pointed to a closed SEC meeting scheduled for Nov. 2nd that will cover topics like “resolution of litigation claims” as a sign that a Bitcoin ETF decision is imminent. This comes after SEC Chairman Gary Gensler posted a cryptic Bitcoin-related tweet on Oct. 31st, the 15th anniversary of the release of Satoshi Nakamoto’s famous Bitcoin whitepaper. You might also like: Bitcoin ETFs could face rug-pull from Gensler, analysts say Many believe this closed meeting may involve a review of Grayscale’s Bitcoin ETF application. Grayscale recently won a lawsuit against the SEC after the regulator stalled on approving their application. If the SEC can’t find a valid reason to deny Grayscale’s ETF, they may have no choice but to approve i...

Certain analysts suggest that the narrowing of GBTC’s discount can be attributed to investors factoring in the possibility of the SEC granting approval to several pending spot Bitcoin ETF applications. Grayscale’s Bitcoin investment vehicle, known as Grayscale Bitcoin Trust (GBTC), is presently trading at its most meager discount in nearly two years. This narrowing of the discount coincides with the gradual progress of spot Bitcoin exchange-traded funds (ETFs) towards potential approval within the United States. According to the latest data from YCharts, as of October 13, GBTC ’s discount in relation to Bitcoin’s net asset value (NAV) has dwindled to 15.87%. Discount to NAV is a percentage-based metric that quantifies how much a mutual fund or ETF is trading below its net asset value. It serves as an indicator to gauge the deviation between a security’s trading price and its true intrinsic value. Data reveals that the discount associated with GBTC comm...

Bitcoin rallied to $30,000 on rumors that the Securities and Exchange Commission (SEC) has approved the iShares Bitcoin spot ETF. The price of Bitcoin (BTC) skyrocketed in a flash on Oct. 16 following speculations that the SEC approved the first spot Bitcoin ETF in the U.S. Crypto news site CoinTelegraph was the first to report the news, however, ETF analysts like James Seyffart clarified that approval has yet to be confirmed. Seyffart also debunked the news that BlackRock’s filing was approved by the SEC. Okay. Have a few different sources including Bloomberg reporters with sources at BlackRock, SEC and other places. Can confidently say that this is not true. https://t.co/QIxhP2AfoO — James Seyffart (@JSeyff) October 16, 2023 While the SEC’s website did not show an approved spot Bitcoin ETF at press time, Bloomberg’s Eric Balchunas cited two distinct headlines on the Reuters terminal pointing to possible confirmation. Whoa, Reuters is reporting SEC i...