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Despite all the hype surrounding spot a Bitcoin (BTC) exchange traded fund (ETF), two of the biggest issuers in the industry are brushing off the buildup. As journalists from Bloomberg note, two of the industry ’s three largest ETF companies are deliberately sitting out on the bid to introduce BTC to the market. The two entities — Vanguard and State Street — are poised to miss out on the frothing speculation posed by the asset’s institutional introduction. Officials from Vanguard said that the company does not intend to offer a spot Bitcoin ETF or any other cryptocurrency-related products. Vanguard believes that the investment attractiveness of cryptocurrencies could be more substantial. You might also like: K33 Research: Bitcoin’s return to ATH will be soon thanks to Bitcoin ETF “Unlike stocks and bonds, most crypto assets lack intrinsic economic value and generate no cash flows. And cryptocurrencies’ high volatility runs counter to our goal of helping investors gener...

This week, the crypto community erupted when a fake BlackRock XRP ETF filing surfaced; regulators are still indecisive on ETF filings; Elon Musk’s “thermonuclear” lawsuit earns praise from InputOutput; and institutional adoption remains sustained . Fake BlackRock XRP ETF filing The XRP community was thrown into excitement when a filing for a BlackRock iShares XRP Trust made its way to the Delaware ICIS on Nov. 13. The discovery triggered an XRP rally to $0.73. However, the asset was dumped immediately when several industry commentators such as Bloomberg ETF analyst Eric Balchunas confirmed that the filing was fake. Shortly after reports of the fake filing surfaced, the Delaware State Department reported the case to the state’s Department of Justice (DoJ). SEC postpones decision on ETF filings The SEC once again postponed making a decision on crypto-focused ETF filings. The securities regulator deferred its decision on Hashdex’s application for a spot ...

In another positive development for the potential service, the US Securities and Exchange Commission (SEC) has acknowledged Valkyrie ’s Spot Bitcoin ETF application. Moreover, the decision arrives a few days after similar acknowledgments were issued for applications from BlackRock and Fidelity.  Bloomberg analyst Eric Balchunas reported Valkyrie’s application to be the latest to reach this important step. Subsequently, although this certainly will not be indicative of an impending acceptance or rejection, it is a notable moment in the overarching application process.  JUST IN: Valkyrie 's bitcoin ETF has just been ack by the SEC, that's the last one to file of the current crop and the only one with a ticker picked out: $BRRR https://t.co/aBWlo4ElOb — Eric Balchunas (@EricBalchunas) July 17, 2023 Also Read: BlackRock CEO Larry Fink Says Crypto Will Transcend International Currency Valkyrie Spot Bitcoin ETF Application Ackowneldged by SEC Over ...

One Bloomberg analyst says that a BlackRock Spot Bitcoin ETF could bring in $30 trillion in capital. Specifically, Eric Balchunas told CoinTelegraph that the potential product approval from the US Securities and Exchange Commission (SEC) could be massively important to the industry.  BlackRock had seemingly set off a race to get a Spot Bitcoin ETF approved. It was followed quickly by Fidelity and a host of other companies seeking to bring the product to market. Balchunas and other experts have predicted that its arrival could be a game changer.  Source: Pixabay Also Read: Former SEC Chair Says Bitcoin ETFs Should be Approved BlackRock Spot Bitcoin ETF a Game Changer? Over the last month, Bitcoin ETF s have been the talk of the industry. Traditional finance firms, BlackRock and Fidelity, shocked the market with the announcement of their filed applications. Nevertheless, it has driven interest in Bitcoin and related entities. Coinbase has even benefited from it...