Bloomberg analyst James Seyffart stated on X Platform that Global X ETFs has submitted a revised prospectus for a Bitcoin ETF.

Entrepreneur Kevin O'Leary has warned that the US Securities and Exchange Commission (SEC) may need another year and a half to approve a Bitcoin exchange-traded fund (ETF) for spot trading. He emphasized that we will not see a spot Bitcoin ETF in the US until there are cryptocurrency exchanges that meet the requirements of the SEC.

According to a report by CoinDesk on November 13th, Morgan Stanley stated in a research report last week that the excitement over the possible approval of a bitcoin ETF has driven a strong rebound in digital assets over the past month, but the increase seems to have gone too far. Analysts said that "the approval of a bitcoin ETF will help the cryptocurrency market attract new capital, as new approved ETFs will see inflows of funds," and "the approval will consolidate the victory of the cryptocurrency industry, but it is a setback for the US Securities and Exchange Commission (SEC)," so the SEC is more likely to soften its attitude towards the cryptocurrency industry. The bank expressed skepticism about both of these claims. Existing funds are more likely to be transferred from current bitcoin products (such as the Grayscale Bitcoin Trust (GBTC), bitcoin futures ETFs, and listed mining companies) to newly approved spot ETFs, rather than new capital entering the cryptocurrency field. Morgan Stanley pointed out that such ETFs already exist in Canada and Europe, but "investor interest has been low since their launch."

Representatives of the company are answering questions from two divisions of the U.S. Securities and Exchange Commission in the wake of Grayscale's court win over the agency.

According to CoinGecko, the global assets invested in spot Bitcoin ETFs currently amount to $4.16 billion, with nearly half ($2 billion) invested in seven spot Bitcoin ETFs launched in Canada since 2021. Canada is also home to the largest Bitcoin ETF in terms of assets under management, with Purpose Bitcoin ETF managing $819.1 million in assets. In addition, ETC Group Physical Bitcoin (BTCE.DE), launched in Germany in June 2020, currently manages assets worth $802 million, making it the second-largest ETF launched to date. The other seven ETFs in Europe are registered in tax havens such as Jersey, the Cayman Islands, and Liechtenstein, with smaller products trading in Brazil and Australia. So far, US regulators have only approved crypto ETFs related to futures contracts, such as ProShares Bitcoin Strategy ETF, which manages assets worth around $1.2 billion. Currently, up to 10 spot ETF applications are waiting for the SEC's approval. CoinGecko's report states, "It remains to be seen whether potential US spot Bitcoin ETFs can attract stronger investor interest and surpass Canadian and German ETFs." (Reuters)

According to sources have revealed that if regulatory authorities approve BlackRock's Bitcoin ETF, some of the world's largest market makers may participate by providing liquidity. According to information viewed by insiders, trading giants Jane Street, Virtu Financial, Jump Trading, and Hudson River Trading have already negotiated with BlackRock about their market-making roles.

On October 31st, Bloomberg ETF analyst James Seyffart posted that Valkyrie has submitted an updated prospectus for its spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC). Bloomberg ETF analyst Eric Balchunas commented, "This is why we won't infer a probability of over 90% for approving spot Bitcoin ETFs in January or before."

FTX holds approximately $417 million in Grayscale Bitcoin Trust Fund (GBTC). Scott Jonhsson, the general partner of Van Buren Capital, stated that FTX's bankruptcy restructuring plan is unlikely to be approved before the second quarter of 2024. It is expected that the SEC will make a decision on spot Bitcoin ETF before then. If GBTC has been converted to an ETF by then, FTX's sale will not exacerbate GBTC's negative premium, as the creation and redemption process of ETFs should only track the underlying BTC price. Sean Farrell, the head of cryptocurrency strategy at Fundstrat, said that the SEC's approval of spot ETFs will help ensure that creditors are compensated and that the discount of GBTC relative to its net asset value will narrow further. Given positive catalysts, cryptocurrency prices are likely to soar overall.

Bloomberg ETF analyst James Seyffart stated on X platform that there are currently 11 applications for a physically-backed bitcoin ETF under SEC review, and if GBTC conversion ETF applications are included, there are a total of 12 applications.

Asset manager Hashdex has reportedly met with the US Securities and Exchange Commission (SEC) to address concerns about its application for the Hashdex Bitcoin Futures exchange-traded fund (ETF) to hold spot Bitcoin. The meeting took place on 13 October and was attended by six SEC officials and representatives of Hashdex, NYSE Arca, Tidal Financial Group, and law firm K&L Gates. Hashdex presented its mechanism for allowing spot Bitcoin to be traded and held in the ETF on the Chicago Mercantile Exchange, which the Commodity Futures Trading Commission regulates. The SEC may ask for more information before the application's first deadline on 17 November.