Sign Up on MEXC
The world’s largest cryptocurrency Bitcoin (BTC) surged past $47,000 on Monday, as issuers such as BlackRock, Fidelity, and others updated their paperwork with the U.S. Securities and Exchange Commission (SEC).
VanEck Seeds its Bitcoin ETF With $72.5 Million
Those looking to issue spot Bitcoin Exchange-Traded Funds (ETFs) have revealed additional information about their initial funding through amended forms submitted early on Monday.
Leading the pack is investment firm VanEck, which has taken a decisive step by seeding its potential spot Bitcoin ETF with an initial investment of $72.5 million, as revealed in its amended S-1 form.
Bitwise, another contender in the race for a spot Bitcoin ETF, has disclosed seeding its proposed ETF with an initial amount of $500,000, according to its amended S-1 form. Additionally, Pantera Capital has expressed interest in contributing a substantial $200 million to the fund if it secures approval. It’s crucial to note that this expression of interest is stated as non-binding and indicative.
Notably, BlackRock, a significant player in the financial industry, has entered the fray by seeding its potential spot Bitcoin ETF with an initial investment of $10 million, as per details provided in its amended S-1 form.
Earlier this week on January 5th, VanEck committed to allocating 5% of the prospective profits from its spot Bitcoin ETF to support Bitcoin core developers at Brink. Additionally, VanEck initiated its support by making an initial donation of $10,000 to Brink to aid in furthering its crucial work.
Bitcoin Price to Surge $200,000 In Two Years
As the financial sector anticipates regulatory decisions on Bitcoin spot ETF applications, Standard Chartered Bank delivered a forecast on Monday, suggesting that the price of Bitcoin could surpass $200,000 by the conclusion of 2025. Geoffrey Kendrick, the head of financial research at Standard Chartered Bank, conveyed this outlook to investors in a note.
He emphasized that if anticipated inflows related to ETFs materialize, the bank envisions a potential year-end level approaching $200,000. Kendrick noted that this projection aligns with their earlier estimations, which targeted $100,000 by the conclusion of 2024.
BREAKING‼️Global banking giant Standard Chartered says $50-$100 BILLION could flow into #Bitcoin ETFs in 2024 pic.twitter.com/yQobJcs6EA
— Bitcoin Archive (@BTC_Archive) January 8, 2024
Some of the Bitcoin whales seem to be in a profit-taking zone as of now. Lookonchain reported that a strategic whale recently made a significant move, depositing the entirety of their 1,000 BTC (equivalent to $22.47 million) into Binance following a Bitcoin surge above $45,000, reports LookonChain.
Notably, this smart whale has been actively depositing a total of 4,000 BTC (amounting to $178.7 million) into Binance over the past two weeks. The deposits were made at an average price of $44,673, with the whale executing sales at favorable high prices on each occasion.
- Fidelity, Grayscale, VanEck Dump Ethereum Amid ETH Price Crash
- Ethereum Treasury Firm SharpLink Confirms Compliance Amid Nasdaq Oversight
- Trump Media Acquires 684M CRO for Cronos Treasury, Strikes Deal with Crypto.com
- SEC and CFTC To Host Roundtable To ‘Harmonize’ Regulatory Frameworks for Crypto
- Hyperliquid Announces Plans to Launch USDH Stablecoin, HYPE Price Climbs
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
- ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?
- Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?
- ONDO Price Prediction Amid Bitget Collaboration on Tokenized Stocks and ETFs: Is $2 Next?
- Dogecoin Price Forecast as REX Osprey ETF Sparks Hype — Is $5 Within Reach?
