{"id":179215,"date":"2023-10-23T09:59:53","date_gmt":"2023-10-23T04:29:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=179215"},"modified":"2023-10-23T09:59:53","modified_gmt":"2023-10-23T04:29:53","slug":"bitcoin-etf-could-be-approved-in-time-for-christmas-says-jp-morgan-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-etf-could-be-approved-in-time-for-christmas-says-jp-morgan-crypto-news\/","title":{"rendered":"Bitcoin ETF Could Be Approved in Time for Christmas, Says JP Morgan – Crypto News"},"content":{"rendered":"
\n

JP Morgan analysts said that Wall Street may get a long-awaited Bitcoin exchange-traded fund (ETF) within months.\u00a0<\/span><\/p>\n

In a Wednesday report, the top investment bank said it was \u201cmost likely\u201d that a spot Bitcoin ETF could get approved before January 10. <\/span>Analysts at Bloomberg Intelligence added said that there is a 90% chance a Bitcoin ETF will get approved in January.\u00a0<\/span><\/p>\n

<\/p>\n

\u201cTk,\u201d the report read.\u00a0<\/span><\/p>\n

An ETF is an investment vehicle that tracks the value of an underlying asset, like gold, foreign currencies, or in this case, crypto.<\/span><\/p>\n

A spot Bitcoin doesn\u2019t yet exist in the States but would give investors exposure to cryptocurrency in a safe and easy way. <\/span><\/p>\n

But the SEC has approved several Bitcoin futures ETFs, like Proshares\u2019 Bitcoin Strategy ETF. There was <\/span>huge interest<\/span><\/a> in the products when they first launched, during a bull market, but since then, the interest in crypto futures ETFs has waned<\/a>. Case in point: The ProShares fund, the first to win approval, trades on the NYSE Arca under the BITO ticker. It accumulated more than $1 billion in investment in its first two days, but hasn’t grown beyond the initial rush. It now has $902 million<\/a> worth of assets under management.<\/span><\/p>\n

Investors are hungry for a spot Bitcoin ETF, experts say, but the U.S. Securities and Exchange Commission has denied applications for such a product, mostly citing the potential for market manipulation as one of the main reasons.\u00a0<\/span><\/p>\n

Now, though, analysts are more optimistic than ever before: BlackRock, world\u2019s biggest fund manager, <\/span>applied<\/span><\/a> for a Bitcoin ETF of its own and fund manager Grayscale scored a victory against the SEC where a federal judge <\/span>sided with the firm<\/span><\/a> over its application to convert its flagship Bitcoin fund into an ETF.\u00a0<\/span><\/p>\n

The SEC currently has a long-list of applications sitting on its desk to review from major Wall Street players, including VanEck, WisdomTree, and ARK Invest.\u00a0<\/span><\/p>\n

\n
<\/p>\n

Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

JP Morgan analysts said that Wall Street may get a long-awaited Bitcoin exchange-traded fund (ETF) within months.\u00a0 In a Wednesday report, the top investment bank said it was \u201cmost likely\u201d that a spot Bitcoin ETF could get approved before January 10. Analysts at Bloomberg Intelligence added said that there is a 90% chance a Bitcoin […]<\/p>\n","protected":false},"author":2,"featured_media":179216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-179215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179215","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=179215"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179215\/revisions"}],"predecessor-version":[{"id":179218,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179215\/revisions\/179218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/179216"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=179215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=179215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=179215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}