{"id":66926,"date":"2023-12-14T09:02:27","date_gmt":"2023-12-14T13:02:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=66926"},"modified":"2023-12-14T09:02:31","modified_gmt":"2023-12-14T13:02:31","slug":"bitwise-spot-bitcoin-etf-inches-closer-to-approval-btc-price-surges-5","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitwise-spot-bitcoin-etf-inches-closer-to-approval-btc-price-surges-5\/","title":{"rendered":"Bitwise Spot Bitcoin ETF Inches Closer to Approval, BTC Price Surges 5%"},"content":{"rendered":"\n

Bitwise\u2019s spot Bitcoin ETF has been listed on the DTCC website, signaling a possible approval by the SEC.<\/a> BTC price rallies above $43,000 amid bullish sentiment.<\/p>\n\n\n\n

\"Bitwise<\/figure>\n\n\n\n

Bitwise Asset Management, a leading crypto index fund provider, has made significant progress in its quest to launch the first spot Bitcoin ETF in the U.S. The company\u2019s ETF application has been listed on the DTCC website, a key step before getting the green light from the SEC.<\/p>\n\n\n\n

A spot Bitcoin ETF is a fund that tracks the price of Bitcoin directly without using futures or other derivatives. This would allow investors to gain exposure to the largest cryptocurrency without having to buy or store it themselves.<\/p>\n\n\n\n

Bitwise\u2019s spot Bitcoin ETF, which has the ticker BITB, has appeared on the website of the Depository Trust & Clearing Corporation (DTCC), a clearing house that handles the settlement of trades on the Nasdaq stock exchange. <\/p>\n\n\n\n

The DTCC\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> listing is a sign that Bitwise\u2019s spot Bitcoin ETF is moving closer to approval by the U.S. Securities and Exchange Commission (SEC). The SEC has been reviewing several applications for spot Bitcoin ETFs<\/a> but has not approved any of them yet.<\/p>\n\n\n\n
\"\"

Bitwise\u2019s spot Bitcoin ETF with the ticker ‘BITB' <\/figcaption><\/figure>\n\n\n\n

The SEC has expressed concerns about the potential for fraud and manipulation in the Bitcoin spot market and has required applicants to demonstrate that they have adequate surveillance-sharing agreements with regulated markets of significant size.<\/p>\n\n\n\n

Bitwise claims that it has met the SEC\u2019s requirements and that its spot Bitcoin ETF will provide investors with a secure and transparent way to access the Bitcoin market. <\/p>\n\n\n\n

Bitwise\u2019s Chief Investment Officer, Matt Hougan, said that the introduction of a spot Bitcoin ETF in the U.S. would be a crucial factor for the growth and adoption of Bitcoin.<\/p>\n\n\n\n

The anticipation of a spot Bitcoin ETF approval has boosted the bullish sentiment in the crypto market, as investors expect a surge in demand and liquidity for Bitcoin. <\/p>\n\n\n\n

Bitwise predicts<\/use><\/svg><\/span><\/a> that Bitcoin will trade above $80,000 in 2024, setting a new all-time high. Hougan said that a spot Bitcoin ETF would be the most successful ETF launch of all time, attracting billions of dollars in inflows.<\/p>\n\n\n\n

The BTC price has rallied<\/use><\/svg><\/span><\/a> above $43,000, gaining 5% in the last 24 hours. The price is also supported by the dovish stance of the Federal Reserve, which has confirmed that it will keep interest rates low and continue its bond-buying program. <\/p>\n\n\n\n

However, traders should also be cautious of unforeseen events that could trigger volatility and corrections in the market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitwise\u2019s spot Bitcoin ETF has been listed on the DTCC website, signaling a possible approval by the SEC. BTC price rallies above $43,000 amid bullish sentiment. Bitwise Asset Management, a leading crypto index fund provider, has made significant progress in its quest to launch the first spot Bitcoin ETF in the U.S. The company\u2019s ETF […]<\/p>\n","protected":false},"author":44,"featured_media":66928,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[152,17080,8615],"class_list":["post-66926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitwise-2","tag-spot-bitcoin-etf-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/12\/bitwise-bitcoin-etf-800x420-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/66926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=66926"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/66926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/66928"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=66926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=66926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=66926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}