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Spot Bitcoin ETFs Could Add Billions to Crypto Market Value: Coinbase

Seeking Alpha

Cryptocurrency-market investors are growing more confident that the U.S. Securities and Exchange Commission will soon give the green light for an exchange-traded fund that invests directly in bitcoin ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSpot Bitcoin ETFs Could Add Billions to Crypto Market Value: Coinbase\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-11-21 14:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4037938-spot-bitcoin-etfs-could-add-billions-to-crypto-market-value-coinbase><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cryptocurrency-market investors are growing more confident that the U.S. Securities and Exchange Commission will soon give the green light for an exchange-traded fund that invests directly in bitcoin ...</p>\n\n<a href=\"https://seekingalpha.com/news/4037938-spot-bitcoin-etfs-could-add-billions-to-crypto-market-value-coinbase\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4550","symbol_name":"红杉资本持仓","start_time":0,"source_url":"https://seekingalpha.com/news/4037938-spot-bitcoin-etfs-could-add-billions-to-crypto-market-value-coinbase","article_id":"2384536344","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2384536344","pubTimestamp":1700547300,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Cryptocurrency-market investors are growing more confident that the U.S. Securities and Exchange Commission will soon give the green light for an exchange-traded fund that invests directly in bitcoin ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4550":"红杉资本持仓","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","BK4585":"ETF&股票定投概念","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","GBTC":"比特币基金","BK4581":"高盛持仓","BK4539":"次新股","BK4023":"应用软件","BK4504":"桥水持仓","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4551":"寇图资本持仓","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","BK4588":"碎股","BK4567":"ESG概念","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","BK4535":"淡马锡持仓","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","COIN":"Coinbase Global, Inc.","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","BK4135":"资产管理与托管银行","BK4534":"瑞士信贷持仓","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","BK4112":"金融交易所和数据","BK4554":"元宇宙及AR概念","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","BLK":"贝莱德"},"translate_title":"比特币现货交易所交易基金可以为加密市场价值增加数十亿美元：比特币基地","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GBTC":1.1,"COIN":1,"BLK":1},"content_text":"Cryptocurrency-market investors are growing more confident that the U.S. Securities and Exchange Commission will soon give the green light for an exchange-traded fund that invests directly in bitcoin (BTC-USD). This narrative has been playing out in bitcoin itself, as the price of the highest-profile token surged nearly 35% just from a month ago.Still, some may be wondering what all the fuss is about. Proponents of a spot bitcoin (BTC-USD) ETF have contended that the approval of such a product would open up bitcoin investing to a wider range of investors and therefore become a more widely accepted asset class.Coinbase Global (COIN), the largest crypto exchange in the U.S., said in a recent report that the product, if approved, could open crypto markets to players in traditional finance, including registered investment advisors (RIAs), retirement funds and other institutions that have historically been unable to access the asset class.Over the long run, a spot bitcoin (BTC-USD) ETF could add billions of dollars to the overall crypto market cap, which stood at $1.38T on Thursday, the Monday report said. “While this will take time, we expect ETFs to lay the foundation for a more regulated environment, greater inclusion and a material growth in demand.”But wait, there’s more. “The opportunity is potentially much greater than just enabling new capital to access the crypto market,” wrote David Duong, head of institutional research at Coinbase. “ETFs will ease the restrictions for large money managers and institutions to buy and hold bitcoin, which will improve liquidity and price discovery for all market participants.”In addition, the regulatory approval of a bitcoin (BTC-USD) ETF “may also open the door to new products, such as lending, futures and options. If that materializes, it can multiply the existing crypto offerings for accredited investors and widely expand adoption.”J.P. Morgan analyst Nikolaos Panigirtzoglou, meantime, argued that an approval of a spot BTC ETF would not lead to a flood of new money. These ETFs, he noted in a recent note, are already listed in Europe and Canada and have gained “little interest from investors since their inception.”BlackRock (BLK) is among the largest Wall Street firms awaiting approval for a spot BTC ETF, which would allow investors to gain exposure to bitcoin (BTC-USD) without having to directly hold the asset. The company filed for the iShares Bitcoin Trust in June, a move that fueled a rally across crypto prices as traditional finance continues to push into the crypto space. Other asset managers racing to be first to market the product in the U.S. include WisdomTree, Valkyrie, Ark Invest and Invesco (IVZ).When BlackRock (BLK) filed for the product in mid-June, the price of bitcoin (BTC-USD) soared to a just over $30K from roughly $26K in the span of a few days. The token is now changing hands at sub-$36K. The sharp upswing underscores investors' increased optimism about the potential regulatory OK of a spot BTC ETF.Some industry titans see the first approval coming as early as this year. Coinbase (COIN) also reckons there’s a good chance that at least one spot BTC ETF may be approved before the end of the year.“Typically, the SEC extends its decision window to the fullest extent allowed by its regulatory framework, which in this case would be the final deadline of January 10, 2024 for the ARK-21Shares Bitcoin ETF application,” Duong noted.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null}}