{"id":175203,"date":"2023-10-16T19:36:30","date_gmt":"2023-10-16T14:06:30","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=175203"},"modified":"2023-10-16T19:36:30","modified_gmt":"2023-10-16T14:06:30","slug":"ishares-spot-bitcoin-etf-approval-rumor-helps-btc-surge-10-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ishares-spot-bitcoin-etf-approval-rumor-helps-btc-surge-10-crypto-news\/","title":{"rendered":"iShares Spot Bitcoin ETF Approval Rumor Helps BTC Surge 10% – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

The world\u2019s largest cryptocurrency, Bitcoin (BTC) has got the much-needed thrust as latest reports confirm that the U.S. Securities and Exchange Commission has approved the iShares spot Bitcoin ETF.<\/p>\n

Spot Bitcoin ETF: Real of Fake News?<\/h3>\n

At press time, the BTC price has shot past $29,400 levels and eyeing a move above $30,000. cointelegraph was the first to report this development. However, there\u2019s not enough clarity on the actual approval of the same.<\/p>\n

<\/p>\n

\n

\ud83d\udea8 BREAKING: SEC APPROVES ISHARES BITCOIN SPOT ETF.<\/p>\n

\u2014 Cointelegraph (@Cointelegraph) October 16, 2023<\/a><\/p>\n<\/blockquote>\n

<\/p>\n

\u00a0<\/p>\n

Bloomberg\u2019s senior ETF strategists Eric Balchunas and James Seyffart have weighed in on the developments and stated that there\u2019s no confirmation for the same. Balchunas wrote<\/a>:<\/p>\n

\n

\u201cWhile I expect to wake up one day in next couple months to a headline just like this, this seems a bit ahead of schedule. Trying to confirm source now. Stay tuned.. On one hand the crypto trades have solid rep of breaking big news, on the other they also have rep of taking words and re-ordering them in a more exciting but not accurate way\u201d.<\/p>\n<\/blockquote>\n

His colleague James Seyffart, who\u2019s been actively following the developments also said that there\u2019s not enough proof to the matter. Thus, it\u2019s just a nothing but a \u201cfake news\u201d for now.<\/p>\n

\n

I believe this to be fake news.<\/p>\n

While this would be positive for the things we’ve been saying. I can’t find anything that would confirm this at the moment. #Bitcoin<\/a> https:\/\/t.co\/gVGGUsBfga<\/a><\/p>\n

\u2014 James Seyffart (@JSeyff) October 16, 2023<\/a><\/p>\n<\/blockquote>\n

Is Spot Bitcoin ETF Nearing?<\/h3>\n

<\/p>\n

Over the last weekend, Bitcoin has been showing strength<\/a> amid several positive developments surrounding the spot Bitcoin ETF. Last week, the US SEC decided not to challenge<\/a> the court ruling that would allow converting the GBTC product to a spot Bitcoin ETF.<\/p>\n

Bloomberg analysts \u2013 Eric Balchunas and James Seyffart \u2013 said last week that there\u2019s a 90% chance<\/a> of a spot Bitcoin ETF approval by January 2024, in the US. The odds have improved ever since the developments taking place in the Grayscale vs the SEC battle.<\/p>\n

Amid these developments, the GBTC share discount in relation to the spot Bitcoin price has dipped below 16%, notably down from its earlier peak of 30% this year.<\/p>\n

Recent data from YCharts reveals that the discount of Grayscale Bitcoin Trust (GBTC) concerning Bitcoin\u2019s Net Asset Value (NAV) has contracted to 15.87% as of October 13. This decline in GBTC\u2019s discount initially began when BlackRock and several other financial institutions submitted applications for spot Bitcoin ETFs in mid-June. Starting at 44% on June 15, the discount has steadily reduced to 26.7% by July 5, and it has since continued to narrow.<\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"<\/div>\n
Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"will_cramer_curse_strike_again_720\"\"will_cramer_curse_strike_again_720\"<\/div>\n
Will Cramer Curse Strike Again? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"<\/div>\n
Mercedes Benz To Release NFT Collection With Fingerprints DAO <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The world\u2019s largest cryptocurrency, Bitcoin (BTC) has got the much-needed thrust as latest reports confirm that the U.S. Securities and Exchange Commission has approved the iShares spot Bitcoin ETF. Spot Bitcoin ETF: Real of Fake News? At press time, the BTC price has shot past $29,400 levels and eyeing a move above $30,000. cointelegraph was […]<\/p>\n","protected":false},"author":2,"featured_media":175204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-175203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=175203"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175203\/revisions"}],"predecessor-version":[{"id":175206,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175203\/revisions\/175206"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/175204"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=175203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=175203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=175203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}