Beat moves up to SEC
Bitcoin’s recent surge was driven by renewed demand expectations around exchange traded funds. It climbed as much as 11.5% in the latest sessions, brushing above the $35,000 mark before giving back a portion of those gains. By 7:25 a.m. London time on Tuesday, the digital asset traded around $33,918. Throughout the year, the broader crypto market has struggled, with year-to-date performance below its 2022 level in many assets.
Speculation about a potential first Bitcoin Cash ETF in the United States has intensified the market chatter. Asset managers such as BlackRock Inc. and Fidelity Investments are among the frontrunners pursuing these products. Proponents argue that ETFs could widen access to cryptocurrencies and accelerate mainstream adoption. (Market observations and predictions: Bloomberg Intelligence)
Beat moves up to SEC
On Monday, a U.S. federal appeals court issued a formal decision that was viewed as a significant moment for Grayscale Investments LLC, which had sought to launch a Bitcoin Cash ETF despite objections from the U.S. Securities and Exchange Commission. The SEC has so far restricted ETFs from investing directly in Bitcoin due to concerns about fraud and market manipulation. The court’s decision, coupled with growing ETF filings by major investment firms, further energized the market and fed speculation that the agency may ease its stance. (Regulatory context)
The market tone was reinforced by industry commentary noting that the iShares Bitcoin Trust is listed under the ticker IBTC, highlighting ongoing activity in ETFs linked to digital assets. (Market commentary)
BlackRock, which operates the iShares family, is a dominant force in global asset management. The Depository Trust and Clearing Corp., known as DTCC, continues to play a central role in clearing and settlement in U.S. markets. (Industry infrastructure)
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That does not imply a formal approval is in hand, according to analysts. The current environment shows that while a marquee ETF launch could be imminent, timing remains uncertain. When clear signals appear, a surge often follows just ahead of such launches. (Analyst insights)
Bitcoin also benefited from a burst of enthusiasm for ETFs last week, with intraday gains around 10%. A misreported claim that a major fund had received approval briefly sparked a rally, only to fade once the error was corrected. (Market reaction)
Ethereum, the second-largest token, followed Bitcoin’s lead with a roughly 6% rise to exceed $1,800, while other coins like BNB, XRP, and Dogecoin showed early strength before pulling back. (Market data)
Coinglass data indicate around $387 million in crypto positions were liquidated in the past 24 hours, reflecting a wave of moves by traders aiming to capitalize on price volatility. (Market data)
Cryptocurrency siege
The U.S. SEC has already permitted ETFs that hold Bitcoin and Ether futures, but the approach to spot exposure remains a focal point. After last year’s market turmoil and the FTX collapse, regulators tightened scrutiny on the broader crypto sector. The conviction that future approvals could unfold grows among industry observers. (Regulatory update)
Bloomberg Intelligence analysts have suggested that Bitcoin Cash ETF approvals appear likely, even if the timing is still unclear. They note that a group of funds could receive the green light as market conditions align with regulatory expectations. (Analyst notes)
Investing in cryptocurrencies: how to start from scratch without screwing up or getting scammed
Bitcoin briefly traded near its all-time high around 69,000 during the 2021 market surge, but the current environment—shaped by rising interest rates—has cooled demand for riskier assets. The coin’s historical link to equities, bonds and gold has weakened recently, prompting questions about how traditional investors are navigating this space. (Historical context)
Industry voices emphasize that liquidity remains a critical factor, with some analysts noting that while sentiment has recovered, it has not matched the exuberance seen in 2020 and 2021. (Liquidity assessment)