If approved, the ETFs could begin trading as early as September. While regulatory approval is not guaranteed, the filing signals a growing institutional comfort in marrying traditional stocks and cryptocurrency in regulated packages.
These filings follow the recent debut of BlackRock’s Income ETF, which allows institutions to monetize cryptocurrency volatility. The 11 spot Bitcoin ETFs in the United States have attracted more than $53 billion in investor capital since their inception in 2024, according to SoSoValue data.
Taken together, these developments demonstrate a persistent institutional appetite for bitcoin despite the bear market. THE $BTC The price peaked at $126,000 in October last year and has recently been trading below $62,500.
The price has fallen by more than 2% in the last 24 hours.
“The bulls still have some hope, as a formal break in the trend would require the price to stabilize below the previous lows, near $61.5k. Even in this scenario, the price decline could stop in the $59-60k range, which represents the most critical support level this year,” said Alex Kuptsikevich, chief market analyst at FxPPro, in an email.
A U.S. holiday on Friday, June 16 could lead to decreased liquidity and erratic price movements. Stay vigilant!
Read more: For analysis of current altcoin and derivatives activity, see Crypto Markets Today. For a full list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
