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The SEC approves a spot Bitcoin ETF, opening the crypto floodgates. Learn what this means for Bitcoin's future in our in-depth analysis

On January 9, 2024, the Securities and Exchange Commission's (SEC) official X (formerly Twitter) account was hacked. The hacker posted a tweet claiming that the SEC had approved spot bitcoin exchange-traded funds (ETFs) for listing on all registered national securities exchanges.

This false news caused a brief surge in the price of bitcoin, which touched above $48,000 before falling back down to around $45,700, as investors reacted to the perceived change in regulatory stance. However, the SEC quickly clarified that the tweet was unauthorized and that they had not approved any spot bitcoin ETFs.

The hack is a serious incident that raises concerns about the security of social media accounts used by government agencies. It also highlights the potential for market manipulation through the spread of false information.

The SEC is investigating the hack and has not yet released any information about the hackers or how they gained access to the account. It is also unclear what steps the SEC will take to prevent similar incidents from happening in the future.

Stay more cautious and don't directly react on the news .

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#BTC #etf #spotbtcetf #Manipulation #sectwitterhack

Jag Kooner, head of derivatives at #Bitfinex, said that the U.S. #spotbtcetf assets under management have surpassed silver and become the second largest single commodity ETF in the United States. The current spot #BTCETFSPOT (including #GBTC ) holds 647,651 #BTC , with an asset size of $27.5 billion. The 19 ETF AUM for gold, which ranks No. 1, is $96.3 billion - The Block

As Bitcoin (BTC) Price Hits $39,000, Spot BTC ETF Finally Gets Official Approval Window.

Bitcoin (BTC) reached a pivotal milestone, with its price soaring to $39,000 on the Bitstamp exchange at precisely 16:45 UTC. This marks the highest level the digital currency has achieved since early May 2022.

The surge aligns closely with recent revelations about the official approval window for a spot Bitcoin ETF, a long-anticipated move in the crypto sector.

In a recent post on the X social media network, prominent ETF analyst James Seyffart noted that the window for potential approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) is officially set between Jan. 5 and Jan. 10.  This announcement has stirred considerable excitement in the cryptocurrency community, with Seyffart suggesting that any approval orders would likely be issued on Jan. 8, 9, or 10.  Seyffart suggested there's a 10% chance or less that the approval might not occur in the expected timeframe. He speculated that such a delay could happen if Chair Gary Gensler decides to "go nuclear." 

The surge in Bitcoin's price to its new 2023 peak can be attributed to several pivotal factors. This recent spike is credited to the optimistic views of influential investors and changing economic conditions. 
#BTC #bitcoinetf #BTCETF #etf #spotbtcetf
$BTC

IT'S COMING 👀 !

Just now six out of 13 who have filed for spot BTC etf have annouced their fees , but the actual date is still yet to be announce .

Approval anticipation heats up- Speculation about a potential January 5th approval for a spot Bitcoin ETF has been running high, contributing to a recent price rebound for Bitcoin. However, some analysts caution against excessive optimism, suggesting approval is more likely between January 8th and 10th.

SEC in final stages- The SEC is reportedly providing final comments to applicants, suggesting issuers will soon file their final forms for approval. Both the 19b-4 and S-1 forms need SEC approval before an ETF can start trading, though an approved 19b-4 is considered the key hurdle.

Other key points:

Institutions' interest wanes slightly: Despite growing enthusiasm in 2023, institutional interest in crypto appears to be cooling slightly as the ETF approval nears.

Bitcoin price rebounds- The anticipation of a spot ETF has buoyed Bitcoin's price, which currently sits above $44,500 after dipping below $41,000 earlier in the week.

BlackRock paves the way for Grayscale LTC ETF: Grayscale, a prominent crypto asset manager, may be able to convert its Litecoin Trust into an ETF thanks to BlackRock's ETF filing.

Market reactions- Mixed reactions continue across the crypto market, with some expecting a major rally from a spot ETF approval while others remain cautious about potential downsides.

Remember, the situation is still fluid and the exact timing of the ETF approval remains uncertain.

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#BTC #btc #spotbtcetf #BlackRockInCrypto #BULLİSH2024