Bitcoin {{BTC}} has risen 2.8% over 24 hours, trading above $66,500, and ether {{ETH}} has advanced to $3,240, according to CoinDesk Indices data, as multiple issuers in Hong Kong said they'd been approved for spot crypto exchange-traded funds (ETFs).

China Asset Management, Bosera Capital and other applicants posted to social-media platform WeChat (Weixin) that they had been approved to list spot bitcoin and ether ETFs in Hong Kong. However, these announcements seem to have front-run an official statement from the Securities and Futures Commission (SFC), which has not posted a list of approved issuers. Some of the posts have since been deleted.

The SFC did not return emails or phone calls asking for comment.

Singapore-based digital assets trading house QCP Capital said in a message shared with CoinDesk that it believes the ETFs, when approved, will unlock some institutional demand during Asia trading hours.

"Participants who wanted exposure have always been limited to US hours, but this now gives institutional investors an Asia-based alternative," QCP wrote. "We believe this will be bullish short term, but there are more important narratives and drivers such as macro events."

According to BlockBeats, recent data from Farside Investors indicates that the Ethereum spot ETF in the United States experienced a net outflow of $30.3 million on November 21. This development highlights a notable shift in investor sentiment towards Ethereum-based financial products.The outflow marks a significant movement in the market, reflecting potential changes in investor strategies or reactions to broader economic conditions. The Ethereum spot ETF, which allows investors to gain exposure to Ethereum without directly purchasing the cryptocurrency, has been a popular choice for those looking to diversify their portfolios. However, the recent outflow suggests that investors may be reassessing their positions amid fluctuating market dynamics.This trend could be influenced by various factors, including regulatory developments, market volatility, or shifts in the broader cryptocurrency landscape. As the market continues to evolve, stakeholders will be closely monitoring these movements to gauge future trends and potential impacts on the Ethereum market and related financial products.

According to PANews, Bitwise has taken a significant step by filing documents with the Delaware Department of State to register its first Solana-related Exchange-Traded Fund (ETF). This move marks Bitwise's entry into the Solana investment space, reflecting the growing interest and potential in Solana's blockchain technology.

The filing indicates Bitwise's strategic approach to expanding its portfolio of cryptocurrency investment products. Solana, known for its high-speed and low-cost transactions, has gained substantial attention in the crypto market, making it an attractive option for investors seeking diversified exposure to digital assets. Bitwise's decision to focus on Solana aligns with the increasing demand for innovative blockchain solutions and the potential for significant returns.

This development comes amid a broader trend of financial institutions exploring cryptocurrency ETFs as a means to offer investors regulated and accessible ways to invest in digital currencies. By pursuing a Solana-related ETF, Bitwise aims to capitalize on the blockchain's unique features and the growing interest from institutional and retail investors alike. The registration process in Delaware is a crucial step in bringing this investment product to market, subject to regulatory approvals and market conditions.

According to Odaily, Nate Geraci, President of The ETF Store, recently shared on X that in addition to the listing of Grayscale and Bitwise crypto index funds, there are several new spot ETF applications currently in progress. These include applications for SOL, XRP, and HBAR. Geraci speculated that at least one issuer might also be attempting to launch an ETF for ADA or AVAX.

In response to these developments, Bloomberg ETF analyst Eric Balchunas suggested that December 31 could be an optimal date for submitting an application for a DOGE ETF. This insight highlights the growing interest and activity in the cryptocurrency ETF space as financial institutions seek to expand their offerings and capitalize on the increasing demand for digital asset investment products. The potential introduction of these ETFs could provide investors with more diversified options and further integrate cryptocurrencies into mainstream financial markets.

According to PANews, Grayscale, an asset management company, has successfully executed a reverse stock split for its two cryptocurrency ETFs: the Grayscale Bitcoin Mini Trust ETF and the Grayscale Ethereum Mini Trust ETF. This move aims to enhance the cost-effectiveness of securities trading.

The reverse stock split took place on November 19 at 22:00 UTC. As a result, the per-share price of the Grayscale Bitcoin Mini Trust ETF increased fivefold, while the number of shares held by ETF holders was proportionally reduced. Similarly, the reverse stock split for the Ethereum Mini Trust ETF led to a tenfold increase in its per-share price from the pre-split net asset value (NAV). Shareholders' holdings, excluding fractional shares, were also proportionally reduced. The impact of this reverse stock split will be visible to shareholders on the next trading day, November 20.

For the Grayscale Bitcoin Mini Trust ETF, every five pre-split ETF shares have been consolidated into one post-split BTC share, with the price being five times the pre-split NAV per share. In the case of the Grayscale Ethereum Mini Trust ETF, every ten pre-split ETH shares have been consolidated into one post-split ETH share, with the price being ten times the pre-split NAV per share. Grayscale has assured shareholders that the reverse stock split will be conducted automatically, requiring no action on their part.

According to Odaily, as of November 20, Hong Kong's Bitcoin Spot ETF has accumulated a total of 4,683 BTC. The assets under management (AUM) for this ETF are approximately $430 million. This data was monitored by HODL15Capital, highlighting the significant holdings of Bitcoin within the ETF.

The accumulation of Bitcoin by the Hong Kong ETF reflects a growing interest and investment in cryptocurrency assets within the region. The substantial amount of Bitcoin held indicates a robust confidence in the digital currency's potential for growth and stability. This development is part of a broader trend where institutional investors are increasingly participating in the cryptocurrency market, seeking to diversify their portfolios and capitalize on the potential returns offered by digital assets.

The ETF's holdings and AUM are crucial indicators of market sentiment and investor confidence in Bitcoin. As the cryptocurrency market continues to evolve, the performance and strategies of such ETFs will be closely watched by investors and analysts alike. The data provided by HODL15Capital offers valuable insights into the current state of Bitcoin investments in Hong Kong, contributing to a better understanding of the global cryptocurrency landscape.

According to Odaily, Bitwise has clarified on the X platform that its Bitcoin ETF, known as BITB, is not registered under the Investment Company Act of 1940, commonly referred to as the '40 Act.' As a result, the fund is not subject to the regulations outlined in this legislation.

Investors should be aware that engaging with BITB involves significant risks, including the potential loss of principal. The fund is characterized by high risk and volatility, making it unsuitable for investors who cannot afford to lose their entire investment. It is important to note that investing in this fund does not equate to directly investing in Bitcoin itself.

The nature of digital assets, such as those involved in BITB, requires careful consideration and understanding of the inherent risks. Investors are advised to thoroughly assess their risk tolerance and financial situation before considering an investment in such high-risk financial products.

According to PANews, the total assets of Bitcoin exchange-traded funds (ETFs) in the United States have exceeded $100 billion. This milestone comes after Bitcoin reached an all-time high of $97,000, edging closer to the $100,000 mark. Since their debut in January, 12 Bitcoin ETFs, including those from BlackRock and Fidelity Investments, have achieved this significant milestone within just ten months, marking them as one of the most successful fund categories ever launched.Institutional data reveals that as Bitcoin hit record levels, Bitcoin ETFs recorded a net inflow of $773 million on Wednesday. This surge in investment underscores the growing interest and confidence in Bitcoin as a viable investment option. The rapid growth of Bitcoin ETFs highlights the increasing acceptance of cryptocurrencies in mainstream financial markets, driven by both institutional and retail investors seeking exposure to digital assets. The success of these ETFs reflects the broader trend of digital currencies gaining traction as a legitimate asset class in the global financial landscape.

Just under a whopping 9,000 BTC was accumulated by spot Bitcoin ETFs in the United States on Tuesday, Nov. 19.

This equates to around $814 million in total aggregate inflows across the eleven funds, according to Coinglass.

Around 450 BTC are mined daily, which means that a huge supply shock is imminent if institutional funds continue to hoover up coins at current rates.

Moreover, the supply shock will be amplified by the halving effect, which reduced block rewards in April. This could induce a post-halving bubble, as it has in previous cycles.

U.S. Bitcoin ETFs purchased 9,000 Bitcoin today (11/19)

Only 450 BTC mined today ‍

— HODL15Capital (@HODL15Capital) November 20, 2024

Institutions Drive BTC to ATH

More than $1 billion has entered spot Bitcoin ETFs in just two days this week as market momentum continues. Tuesday was a bumper inflow day for Ark 21Shares, Fidelity, and BlackRock, with the three ETFs seeing inflows of $267.3 million, $256.1 million, and $213.5 million, respectively.

There were minor inflows for the Bitwise, Grayscale, and VanEck funds and no outflows for the second consecutive day of trading this week. This brings the total aggregate inflow for the products to $28.5 billion since they launched in January.

The demand for these products reinforces the notion that this rally is being driven by institutions, and retail has yet to come to the party.

#Bitcoin supply shock:

There are 1,215,672 #Bitcoin left to be mined, that means 94.21% of all 21 million $BTC are in circulation. And the first few institutions are just waking up.

Are you ready for what’s coming? pic.twitter.com/qDoNUXbAu3

— Carl ₿ MENGER (@CarlBMenger) November 19, 2024

Bitcoin hit an all-time high of a little over $94,000 during late trading on Tuesday but retreated to $92,320 during the Wednesday morning Asian trading session.

IBIT Options Launch

The launch of BlackRock iShares Bitcoin Trust (IBIT) options on Tuesday was also bullish, with almost $2 billion in notional exposure traded on the first day.

Analysts and experts have attributed this to the latest BTC price peak. “These options were almost certainly part of the move to the new Bitcoin all-time highs today,” commented Bloomberg ETF analyst James Seyffart.

Meanwhile, ETF Store president Nate Geraci added:

“Options add an entirely new dimension. Makes it much easier and more enticing for institutional investors to enter the arena.”

I was told there is no need for spot btc ETFs…

Nearly *$2bil* notional on IBIT’s first day of *options* trading.

Addn’l spot btc options list tomorrow.

Options add an entirely new dimension.

Makes it much easier & more enticing for institutional investors to enter arena. https://t.co/jQpzmM7QEa

— Nate Geraci (@NateGeraci) November 20, 2024

Until now, spot Bitcoin ETF options were only available outside of the United States. Their launch opens up the asset to the largest liquidity pool in the world, which could turbocharge BTC prices if the funds keep purchasing it to keep up with demand.

The post Supply Shock: Bitcoin ETFs Sucked up 9,000 BTC Daily While Only 450 Were Mined appeared first on CryptoPotato.

Bitwise has registered a statutory trust for a proposed Solana ETF.

Under the Trump administration, SOL ETFs are expected to be approved.

Bitwise might soon join VanEck and Canary Capital in the spot SOL ETF race.

Bitwise, a leading digital asset management firm, has intensified the push for SEC approval of a spot Solana exchange-traded fund (ETF) by registering a statutory trust for the proposed SOL ETF, in Delaware.

Meanwhile, the price of SOL is nearing its all-time high of $260. At the time of publication, Solana is valued at $230.96—a decline of 11.19% from its peak. According to CoinMarketCap, Solana’s market capitalization stands at $110 billion, making it the fourth-largest digital asset by valuation.

Bitwise is expected to join the race for a spot Solana ETF alongside VanEck and Canary Capital. Reports from Delaware’s Division of Corporations reveal that Bitwise incorporated its trust on November 20th, listing CSC Delaware Trust Company as its registered agent. The firm is likely preparing to file an S-1 registration statement with the SEC.

Although Bitwise has yet to submit the required 19b-4 and S-1 filings, the crypto market has sho…

The post Bitwise Joins Spot Solana ETF Race as SOL Price Nears $260 appeared first on Coin Edition.

South Korea bans Bitcoin ETFs, citing investor protection, sparking regulatory criticism.

Global crypto ETF adoption rises as South Korea enforces stricter investment rules.

Restrictive policies may hinder South Korea’s role in the evolving digital asset market.

South Korea has kept its crypto regulations in check yet again when it banned Bitcoin spot and futures ETFs thereby blocking funds that invest in virtual asset companies like Coinbase.

According to Ki Young Ju, Founder & CEO of CryptoQuant, these restrictions aim to protect investors, but critics argue they are excessive and hinder the nation’s alignment with global trends in digital asset regulation.

Ban Extends Beyond Bitcoin to Virtual Asset Companies

The Financial Supervisory Service (FSS) recently confirmed the rejection of ETFs targeting companies with virtual asset-based business models. Asset management firms had planned to introduce ETFs focusing on businesses like Coinbase, a leading cryptocurrency exchange. 

Despite being ready for immediate launch, these funds failed to gain approval. As a result, many domestic asset managers paused plans to submit similar ETF applications, c…

The post South Korea Bans Bitcoin ETFs, Restricts Crypto-Related Funds appeared first on Coin Edition.

The post Are Spot ETFs for Solana, XRP, and HBAR a Sign of an Upcoming Altcoin Season? appeared first on Coinpedia Fintech News

Nate Geraci, President of The ETF Store, revealed that applications for spot ETFs for Solana (SOL), XRP, and Hedera (HBAR) are currently in progress, alongside the launch of Grayscale and Bitwise crypto index funds. Geraci also speculated on potential ETF filings for Cardano (ADA) and Avalanche (AVAX), signaling a growing interest in altcoins among institutional investors.

SOL has garnered attention for its scalability and low transaction costs, prompting VanEck to file a spot ETF to capitalize on its expanding ecosystem. Similarly, XRP has seen increased confidence after gaining regulatory clarity, leading Bitwise to file for an XRP spot ETF. HBAR, with its efficient distributed ledger, has also attracted filings, including an S-1 registration by Canary Capital.

In addition to crypto index fund uplistings from Grayscale & Bitwise, there are currently spot ETF filings for the following…-SOL-XRP-HBARGuessing at least one issuer takes a flier on ADA or AVAX ETF as well.

— Nate Geraci (@NateGeraci) November 21, 2024

Can we say an altcoin season coming with possibilities of many spot ETFs in line? Let’s see what it means for you!

Expanding to Cardano and Avalanche

ADA and AVAX are strong contenders for future ETF filings. Cardano’s emphasis on security and scalability in its proof-of-stake model and Avalanche’s sub-second finality and multi-chain architecture make them appealing to asset managers. These filings mark a significant step as institutional players look beyond Bitcoin and Ethereum to diversify their portfolios.

Bitcoin’s Limited Supply

Geraci also provided insights into Bitcoin’s finite supply. Of the total 21 million Bitcoins, nearly 20 million have been mined, with an estimated 4-5 million permanently lost. Satoshi Nakamoto’s wallet alone holds over 1 million Bitcoins, and spot ETFs collectively hold another 1 million. MicroStrategy is expected to increase its holdings to 400,000. This constrained availability underscores Bitcoin’s rarity and value.

Speculation on DOGE ETF

Additionally, Bloomberg ETF analyst Eric Balchunas suggested December 31 as an optimal filing date for a DOGE ETF. This reflects the increasing activity and interest in the cryptocurrency ETF space, as financial institutions seek to expand offerings and meet the growing demand for digital asset investments.

The emergence of altcoin ETFs and Bitcoin’s constrained supply highlight the changing strategies of cryptocurrency investments, signaling greater integration of digital assets into mainstream financial markets.

With Trump’s win, this will be bigger than expected with BTC and ETF success altcoins like SOL, and XRP have good chances to come up with ETFs soon. What do you think about this latest buzz tell us. 

Options on BlackRock's iShares Bitcoin Trust ETF (IBIT) made waves on Nov. 19, when its newly launched market recorded $1.9 billion in trading volume. On X, a handful of analysts deemed the launch a success, after the day wrapped up with a startling imbalance in the contracts. 

There were 288,740 call (buy) options compared to the 64,970 put (sell) instruments, or a staggering 4.4-to-1 ratio.

On the surface, this suggests overwhelming bullish sentiment, with some contracts implying Bitcoin (BTC) prices above $170,000. But is this optimism warranted, or are these trades more complex than they appear?  

How are IBIT Bitcoin options being used?

The options are financial instruments that allow traders to bet on price movements or hedge risks without buying the underlying asset directly. 

Among IBIT options, the $100 call expiring on Dec. 20 saw a surprising 9,500 contracts traded. At first glance, this suggests traders are betting on Bitcoin skyrocketing. However, these contracts are priced at just $0.15 each, or 0.3% of IBIT’s current price of $53.40. This pricing indicates a low probability of Bitcoin hitting the implied $175,824 equivalent price.  

Some investors use these low-cost options as lottery tickets. While eye-catching, these contracts often distort the perception of market sentiment. 

IBIT ETF options price on Nov. 20. Source: Nasdaq

For a more grounded example, consider the $65 IBIT call option expiring on Jan. 17, priced at $2.40 per contract (4.5% of IBIT’s price). This trade becomes profitable if Bitcoin reaches approximately $114,286 by expiry, reflecting a 22% rise in two months. 

Meanwhile, sophisticated traders might use strategies like a synthetic long. One user, “elwalvador,” shared an example: selling a $50 put and buying a $60 call for the same price ($2.15), effectively replicating Bitcoin ownership without holding the asset.

Other strategies include a covered call, where an investor holding IBIT sells a call option to generate immediate income. For instance, with IBIT trading at $53.40, they could sell a $55 call option expiring in January for $5.20. This means the investor collects the money upfront but agrees to cap their upside if IBIT exceeds $55. If IBIT closes at $45 or $50, the call expires worthless, and the investor keeps the $5.20 premium, reducing their loss or adding to their return.

“Bull call spread” strategy expected profit and loss. Source: Strike

Similarly, “bull call spreads” target moderate price increases while limiting risk. A trader could buy a $53 call for $6.20 and sell a $58 call for $4.10, netting a $2.10 cost. If IBIT closes at $58, the spread’s $5 value results in a $2.90 gain ($5 - $2.10 cost).

Is Bitcoin price going to $170K simply because of IBIT options activity? 

The $170,000 Bitcoin projection isn't a market consensus, it’s an outlier created by low-cost, high-reward trades. IBIT options have been flooded with speculative bets, particularly on February and May 2025 contracts, which show a 6.7-to-1 call-to-put ratio. However, the odds of such extreme outcomes are minimal.  

Options offer leverage, allowing smaller investments for outsized potential gains. Yet, they can expire worthless if the asset price doesn’t move as expected. For retail investors, the takeaway is clear: Bitcoin ETFs and their options provide new ways to profit, but understanding the mechanics and probabilities is key.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Crypto Revolution On Hold: SEC Pushes Franklin Templeton’s Bitcoin-Ethereum ETF Decision to 2025

The U.S. Securities and Exchange Commission (SEC) has again delayed its decision on Franklin Templeton’s proposed Crypto Index ETF, setting a new deadline for Jan. 6, 2025. This ETF, designed to combine Bitcoin and Ethereum in a single investment product, has garnered significant attention since its initial filing in August 2024. The fund would trade on the Cboe BZX Exchange under the ticker EZPZ, with Coinbase Custody Trust Company LLC acting as the custodian for its digital assets.

Franklin Templeton’s ETF proposal is unique in its approach, offering diversified exposure to two leading cryptocurrencies. This structure appeals to investors who prefer avoiding the complexities and risks of direct cryptocurrency investments. Despite the lack of opposition during the public comment period, the SEC has extended its review, reflecting its ongoing cautious stance toward crypto-related financial products.

Meanwhile, Franklin Templeton is not the only firm vying for an ETF approval. Bitwise has also submitted a proposal to convert its $1.3 billion crypto index fund into a publicly traded ETF. With 75% of its holdings in Bitcoin and 16% in Ethereum, the Bitwise fund emphasizes the dominance of these two cryptocurrencies in the market. Industry experts believe that approval of these ETFs could pave the way for broader institutional adoption, similar to how traditional index funds reshaped stock market investment.

Franklin Templeton has continued to expand its blockchain presence. In 2024, the firm integrated its Benji tokenization platform with Ethereum, adding it to a growing list of supported blockchains including Aptos, Avalanche, Arbitrum and Base. These developments underline the firm’s commitment to leveraging blockchain technology for financial innovation.

The broader crypto market remains optimistic about the potential approval of these ETFs. Total market capitalization has been steadily increasing, driven by growing investor interest and technological advancements. Analysts suggest that these funds could act as a bridge between traditional finance and the crypto sector, enabling easier access to digital assets for a wider range of investors.

The SEC’s delay keeps the industry on edge as it awaits regulatory clarity. With the new deadline falling in early 2025, all eyes will be on the Commission’s decision. Approval of Franklin Templeton’s ETF could mark a pivotal moment, setting a precedent for future crypto investment products and further integrating digital assets into mainstream finance.

November 2024 has so far recorded a 34.17% price increase, making it the best November performance since 2020. While the monthly close is still pending, it is highly likely to end on a very positive note. This follows a strong February earlier this year, which saw an even larger monthly increase of 43.86%. Both months stand out as key highlights in a year where Bitcoin spent much of its time trading sideways within the $50k–$70k range.

ETF Inflows Contributing to Price Increases

One of the main factors behind November’s strong performance has been Bitcoin ETF inflows. Increased institutional participation through ETFs has provided additional demand, supporting price gains in both February and November. These inflows reflect growing interest from larger investors, which seems to be having a great effect on the market.

Written by maartunn

According to Odaily, South Korea's financial regulatory authorities have prohibited the issuance of cryptocurrency exchange-traded funds (ETFs) for both spot and futures products. Additionally, they have rejected funds investing in cryptocurrency companies, including exchanges. A representative from an asset management company revealed that they have been preparing to launch a fund focused on virtual asset companies since the end of last year, but have yet to receive approval from local regulators.

Meanwhile, an official from the Financial Supervisory Service (FSS) acknowledged the growing demand for Bitcoin investments. However, the official stated that unless there is a change in the current government policies, regulatory restrictions will remain in place. This stance reflects the cautious approach South Korean authorities are taking towards the rapidly evolving cryptocurrency market, balancing the increasing interest in digital assets with the need for regulatory oversight to protect investors and maintain financial stability.

The crypto Exchange-Traded Fund (ETF) race is heating up after the major success of Bitcoin spot ETF launch in the US. In a latest post, Nate Geraci, president of The ETF Store, suggested that the applications for Solana (SOL), Ripple’s XRP, HBAR, and even Cardano (ADA) or Avalanche (AVAX) ETFs are now in the mix.

Major financial players Grayscale are exploring altcoin ETFs, signaling a massive shift beyond Bitcoin and Ethereum. It hints that institutional investors are eyeing diverse exposure to the crypto market and this has led the altcoins to set up the pace ahead.

Which Crypto ETF would be next?

Nate Geraci in an X post, stated that there are currently spot ETF filings for crypto index fund up-listings from Grayscale and Bitwise. This includes SOL, XRP, HBAR and at least one issuer has also tried ADA or AVAX ETFs, he added. Eric Balchunas in a reply joked that December 31 might be the best date to file for a Dogecoin (DOGE) ETF. 

Bitcoin ETFs have hit a staggering $100 billion in total assets under management, just 10 months after their January debut. However, going after Solana ETF looks like a smart choice as its blockchain is scalable, fast, and low on fees. VanEck recently filed a spot ETF for SOL to tap into its growing ecosystem.

Ripple’s XRP has finally gained clarity after its legal win. This has boosted Bitwise’s confidence in its long-term potential. XRP price jumped by more than 103% in the last 24 hours. XRP is trading at an average price of $1.11, with a trading volume of $6.86 million. 

Solana also witnessed a good run as its price spiked by 45% in the last 30 days. SOL is trading at an average price of $241.33 at press time. Dogecoin has seen a much better growth in the recent times. DOGE price skyrocketed by 167% in the past 30 days, marking a major comeback for the biggest meme coin.

Meanwhile, HBAR caught attention with its robust distributed ledger technology. Canary Capital recently filed an S-1 registration, aiming to bring HBAR to the ETF spotlight. Geraci speculates issuers could target Cardano, which is known for secure, scalable PoS consensus, while, Avalanche (AVAX) stands out with sub-second finality and multi-chain architecture.

Bitcoin ETFs boom

The 12 Bitcoin ETFs from heavyweights like BlackRock and Fidelity saw a $773 million net inflow on Wednesday alone, riding on Bitcoin’s climb toward $100K. This marks one of the most successful fund category launches ever. These funds had hit $100 billion in total AUM.

BTC surged by over 4% in the last 24 hours to record a high of $97,892. Inflows into Bitcoin ETFs since November 5 when Trump won the US Presidential election turned out to be $5.8 billion. Optimism around the President-elect’s pro-crypto stance is key. His transition team is considering creating a White House position for digital-asset policy, which will be a US first.

Bitcoin’s 129% rally in 2024 has outperformed stocks, gold, and most other assets. With ETFs now mainstream, Bitcoin’s institutional and retail appeal is stronger than ever.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Bitcoin (BTC) continues its march toward new all-time highs, shrugging off bearish pressure as the BTC price staged a robust recovery near the $94,000 level. The market reacted to geopolitical tensions and anticipated a surge in liquidity with the imminent launch of ETF options trading.BTC Price Analysis: $94K in SightOn Nov. 19, Bitcoin (BTC) gained 2.4% daily to reclaim $92,700, nearing its record high of $93,477 set on Nov. 13. Monitoring resource CoinGlass identified significant sell-side liquidity around $94,000, indicating a potential liquidity hunt.Analysts anticipate a breakout as sell positions cluster around these levels. Daan Crypto Trades commented:“The longer price consolidates around this region, the more likely we’ll take out those highs.”Trader Justin Bennett echoed this sentiment, suggesting that Bitcoin (BTC) could surpass $94,000 and possibly target the psychological $100,000 mark. "This sideways price action has attracted shorts, increasing the likelihood of a sweep at $94K," he noted.Market Volatility Amid Key EventsBitcoin's moves coincided with broader risk-asset volatility driven by escalating tensions between Russia and Ukraine. Despite a brief dip, BTC/USD demonstrated resilience, quickly rebounding above $92,000.The market now turns its attention to Nvidia’s earnings release on Nov. 20. With expectations of a 12% post-earnings move, the announcement could influence market sentiment. Nvidia’s recent performance, including surpassing Apple as the world’s most valuable company, has already made waves in financial markets.ETF Options and Price DynamicsThe launch of BlackRock’s iShares Bitcoin Trust (IBIT) ETF options on Nov. 19 is seen as a pivotal moment. Analysts, including Skew, suggest this event could be anchoring Bitcoin (BTC) within its current range, with bid liquidity moving higher on exchange order books.As Bitcoin consolidates near its record highs, traders and analysts are closely monitoring the $94K level, with bulls eyeing the elusive $100K milestone. Whether Bitcoin can sustain this momentum hinges on upcoming market catalysts and the behaviour of key liquidity zones, according to Cointelegraph report. Read More: MicroStrategy Plans to Raise $1.75B via 0% BlackRock Supports U.S. Strategic Bitcoin Reserve, Says Satoshi Action Fund CEOOver 60 Public Companies Adopt Bitcoin Strategy

ETFs issuers have made registrations for Altcoin ETFs stated the ETF expert Nate Geraci. 

The cryptocurrency market might witness the launch of new ETF products in the near future.

The Asian crypto community has yet again woken to Bitcoin hitting a new ATH. This time the digital asset has traversed into the $96K level and has managed to hold prices there. This price movement has also made up for the brief slump the overall market reflected this week. Meanwhile, the market has seen new ETF applications in the past day. 

Particularly, ETF market analyst and expert, Nate Geraci stated that there have been registrations for Solana, XRP, and Hedera (HBAR). The community has been awaiting the arrival of the altcoin sector’s ETF. With the current bullish market, ETF issuers seem to have taken steps towards expanding products onto other cryptocurrencies as well. 

In addition to crypto index fund uplistings from Grayscale & Bitwise, there are currently spot ETF filings for the following…-SOL-XRP-HBARGuessing at least one issuer takes a flier on ADA or AVAX ETF as well.

— Nate Geraci (@NateGeraci) November 21, 2024

Additionally, Geraci also said that, any of the issuers can be expected to file for ADA or AVAX in the coming days. Previously, on November 11, the ETF expert posted a prediction that expected ETF registrations for several altcoins in the following week. As per his predictions, issuers have taken to file for the aforementioned altcoins. 

Moreover, prominent ETF analyst, Eric Balchunas also replied to Nate Geraci’s tweet discussing a DOGE ETF. He stated that by the end of December, a DOGE filing can be expected. Additionally, the analyst was also seen discussing ETFs reaching new milestones in market cap. 

What Would an ETF Market Expansion Look Like?  

The US ETF market has seen quite the activity over the past 24 hours. Prominent ETF issuer Bitwise has filed a registration for a spot Solana ETF in the State of Delaware as per reports. When analyzing how an ETF market expansion would materialize several factors need consideration. 

Firstly, the launch of these ETFs might take more time due to legal and regulatory proceedings. During the launch of the spot Ethereum ETFs, long waiting periods and registrations were observed. 

On the other hand, a Donald Trump-headed government and a pro-crypto SEC chair could dismantle certain complications. In terms of the market itself, product expansion in ETFs could draw in more mainstream investors into the crypto sector. 

Meanwhile, the spot Bitcoin ETFs have recorded positive flows, while the ETH ETFs have shown outflows in the past trading day. These ETFs, particularly, Bitcoin ETFs have been received well by investors. 

Highlighted Crypto News Today: 

Bitcoin Eyes $100K After Reaching New ATH of $97.6K

Bitwise Asset Management has filed for a Delaware trust as part of its plans to launch a Solana ETF (exchange-traded fund). This move signals the company’s strategy to expand its crypto offerings, capitalizing on the growing popularity of blockchain assets like Solana. The filing is a step toward submitting the ETF for approval to the SEC, though challenges remain.

The proposed Solana ETF aims to track the price of Solana (SOL) and is part of Bitwise’s broader expansion efforts. This year, the company has experienced remarkable growth, with assets under management (AUM) surging by 400%, now totaling billions of dollars. Recent acquisitions and the success of other ETFs, including its Bitcoin and Ethereum offerings, underline Bitwise’s aggressive approach. The firm joins competitors like VanEck, 21Shares, and Canary Capital in seeking to capitalize on Solana’s rising prominence.

However, the road to approval remains uncertain. The SEC has historically scrutinized crypto ETFs, citing concerns about asset classification, custodial risks, and potential market manipulation. Solana’s status as a commodity has been debated in the past, adding to the challenges. Earlier this year, similar proposals were removed from regulatory exchanges, casting doubt on approval timelines. Despite these hurdles, Bitwise and other firms remain optimistic, banking on a changing regulatory landscape.

Optimism has increased with the election of Donald Trump, whose administration has signaled a more crypto-friendly approach. Industry experts believe Trump’s policies could reduce regulatory barriers, fostering innovation and increasing the likelihood of ETF approvals. Trump’s pro-crypto stance has created hope for greater institutional adoption, as the administration prioritizes blockchain innovation and investor accessibility.

Analysts suggest that approval of a Solana ETF under Trump’s leadership could reshape the U.S. crypto market, allowing the country to compete with nations like Brazil, which already launched a Solana ETF. The move could strengthen the U.S.’s position as a global leader in blockchain technology and attract more investments and talent.

Bitwise’s Solana ETF, if approved, could pave the way for broader crypto ETF adoption, including potential funds focused on other tokens like XRP, ADA, or AVAX. The industry views these developments as a sign that crypto regulation is evolving toward a more supportive framework, driving further innovation and institutional involvement.