If approved, the ETFs could start trading as early as September. While regulatory approval is not guaranteed, the filing signals growing institutional comfort with combining traditional equities and cryptocurrency in regulated wrappers.
These filings follow the recent debut of BlackRock’s Income ETF, which allows institutions to cash in on cryptocurrency volatility. The 11 spot bitcoin ETFs in the U.S. have drawn more than $53 billion in investor capital since their inception in 2024, according to SoSoValue data.
Taken together, these developments point to continued institutional appetite for bitcoin despite the bear market. The BTC price peaked at $126,000 last October and recently traded below $62,500.
The price has fallen by over 2% over the past 24 hours.
“The bulls still have some hope, as a formal break of the trend would require the price to fall below previous lows near $61.5K. Even in this scenario, the price decline could stall in the $59-60K range, which represents this year’s most critical support level,” Alex Kuptsikevich, chief market analyst at FxPPro, said in an email.
A market holiday in the US on Friday for Juneteenth can lead to thin liquidity and erratic price movements. Pay attention!
Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today. For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”
