If approved, the ETFs could begin trading in September. While regulatory approval is not guaranteed, the filing indicates growing institutional comfort with combining traditional stocks and cryptocurrencies in regulated wrappers.
These filings follow the recent debut of BlackRock’s Income ETF, which allows institutions to monetize cryptocurrency volatility. The 11 U.S. spot bitcoin ETFs have attracted more than $53 billion in investor capital since their inception in 2024, according to data from SoSoValue.
Together, these developments point to continued institutional appetite for bitcoin despite the bear market. The BTC price reached a high of $126,000 in October last year and was recently trading below $62,500.
The price has fallen more than 2% in the last 24 hours.
“The bulls still have some hope, as a formal breakout of the trend would require the price to settle below previous lows near $61.5k. Even in this scenario, the price decline could plateau in the $59-60k range, which represents the most critical support level this year,” said Alex Kuptsikevich, chief market analyst at FxPPro in an email.
A holiday in the US market on Friday for the day of June 16 can lead to liquidity shortages and erratic price movements. Stay alert!
Read more: For an analysis of current activity in altcoins and derivatives, see Crypto Markets Today. For a complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
