• About Us
  • Careers
  • Contact
No Result
View All Result
Thursday, June 5, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result

With ETFs In The Horizon, What’s Next For Bitcoin?

19 October 2023
in Markets
Reading Time: 5 mins read
107 3
Home Markets

According to a recent estimate by data analytics company CryptoQuant, should bitcoin spot exchange-traded funds (ETFs) be legalized, bitcoin would increase to a value of $900 billion and the overall cryptocurrency market will grow by $1 trillion. 

No doubt this is very ambitious and this latest prediction follows the recent rumour-fueled BTC pump and dump, which liquidated over $100 million dollars of both long and short positions. 

CoinGlass data shows that $72 million worth of short positions were liquidated on the move to $30,000 and $31 million in longs were liquidated during the correction. 

Liquidation occurs when an exchange forcibly terminates a trader’s leveraged position due to a partial or entire loss of the trader’s initial margin. It occurs when a trader is unable to fulfil the margin requirements for a leveraged position, this means the trade does not have adequate liquidity (cash) to keep the transaction open.

The BTC pump and dump referred to earlier was caused by a now deleted tweet by popular crypto news platform, Cointelegraph stating that the United States Securities and Exchange Commission had approved BlackRock’s iShares spot Bitcoin exchange-traded fund, or ETF. 

This tweet was picked up by other news outlets and news aggregator accounts and the rumour spread like wildfire sparking a buying frenzy. And while there are about eight to ten ETF applications under consideration by the SEC, in the case of BlackRock’s ETF application, much of the excitement is tied to the fact that the largest asset manager in the world showed interest in moving deeper into crypto markets. 

BlackRock’s application alone was seen as a validation for the entire crypto industry, with comments made by BlackRock CEO, Larry Fink, who argued that a monetary asset untethered to any national government will become increasingly attractive. 

Spot crypto ETFs allow investors to get exposure to digital assets without having to buy and hold them; the financial vehicles are publicly traded and track the performance of an underlying asset or index.

Last week, news broke that the SEC won’t appeal the loss in its case against Grayscale, which is thought to boost the chances of GBTC eventually being converted to a spot ETF. However, the SEC website shows no approvals for a spot bitcoin ETF. And the perpetrators of the fake news have come out to apologize for their mistake. 

While it has also been reported that the BlackRock application is still under review, one thing is clear; there’s a pent up demand for these traditional financial instruments, or at least money on the sidelines waiting to trade the news around ETFs, at least evidenced by the BTC pump to 30k.

With money on the sidelines waiting for the news and the Grayscale victory which the SEC has refused to appeal, market analysts now expect the SEC to go ahead and approve Grayscale’s application and the many others pending review.

A Trading view chart of Bitcoin price action on DeFi Planet

Bitcoin’s market cap currently stands at $550 billion, according to CoinGecko data. The price action on the Bitcoin 1-day chart shows the pump to and rejection at the 30k price mark, this sent the price back down to the 28k price mark comfortably up from the 25k resistance. This points to the market bullishness on Bitcoin. 

The sentiment for positive ETF news is a major factor as Blockworks reported, the Binance BTC/USDT trading pair, which accounts for 8% of bitcoin daily trading volume, saw a 7% green candle roughly 30 minutes after the Cointelegraph rumour was posted. 

The chart is healthy and as far as retracements are concerned the 27.789 price point might be crucial to see deciding where we go from here. Obviously Bitcoin ETFs are a big deal for seasoned crypto traders and traditional institutions looking to gain access to trading bitcoin without directly holding the asset. A traditional financial wrapper for the novel bitcoin asset class would, therefore, act as a bridge to that sidelined capital. Some estimate billions of dollars could flow into a spot market bitcoin ETF. 

Although, the great interest in bitcoin ETFs may have as much to do with the fact that the investing public has been denied thus far. Since the Winklevoss twins’ unsuccessful proposal in 2013, the SEC has rejected every spot-based BTC ETF application it has reviewed. 

The SEC’s argument has often revolved on the concept of market manipulation, owing to bitcoin’s relative illiquidity (liquidity is distributed across the multiple exchanges that offer BTC) and the lack of appropriate market “surveillance” mechanisms.

Final thoughts

Crypto markets are in need of fresh capital, especially after over $100 million in options were liquidated during the Cointelegraph-BlackRock-ETF rumour, and many are still hanging their hats on the idea that mass adoption will come and ETFs will be one of the main vehicles to help reach that destination. 

The idea that ETFs will drive institutional adoption is plausible, as evidenced in the numerous applications from a number of traditional finance firms including BlackRock, Fidelity and VanEck. These firms will create a direct link for Bitcoin to be traded in new ways that will only serve the purpose of core Bitcoin hodlers and traders.

And to core Bitcoin hodlers and traders and the wider crypto market players, interest in bitcoin ETFs stems from this never ending need to find something to be bullish about. The fact that markets have been deprived of ETFs only makes them more appealing. This will put to bed some calls for “regulatory clarity,” and will simultaneously create the foundation for future adoption.

 

Disclaimer: This piece is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.

If you would like to read more articles (news reports, market analyses) like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: BitcoinETFSEC
Share64Tweet40Share11
Previous Post

Aptos Faces Critical Downtime on Its One-Year Mainnet Anniversary

Next Post

Top 10 Top Use Cases of Asset Tokenization

Desire Omunakwe

Desire Omunakwe

Desire Omunakwe is a senior writer at Defi Planet. With a knack for simplifying complex topics, he empower readers to understand and navigate the world of digital assets.

Related Posts

Hello, crypto fam! It’s the final weekend roundup for May—how time flies, even in a space that never sleeps. We hope May treated you well, and here’s wishing you even more wins in the weeks ahead. If you haven’t subscribed yet, now’s the perfect time to hit that subscribe button and stay in the loop with all the latest Web3 updates! As always, here’s a quick recap of everything that went down this week. Enjoy! Biggest Story Circle Freezes $58M in USDC Amid LIBRA Memecoin Scandal Circle, issuer of the USDC stablecoin, has frozen nearly $58 million linked to the controversial LIBRA memecoin project. The freeze targeted two Solana wallets connected to LIBRA’s deployers, following a class-action lawsuit filed in New York where investors allege insider fraud. Blockchain firm Arkham confirmed Circle’s use of multisig authority to halt transactions, marking a major escalation in one of 2025’s most prominent crypto scandals. LIBRA surged after Argentine President Javier Milei promoted it as a tool for small businesses, reaching over $5 and a $4 billion market cap within an hour. However, a massive insider dump crashed its value by 90%, resulting in $250 million in retail losses. The fallout has sparked political unrest in Argentina and may set new legal precedents in crypto accountability. Other News Making Waves Elon Musk confirms departure as White House cost-cutting czar, ending his controversial tenure leading DOGE, a department created under Trump to slash federal spending and jobs (More) Former CFTC Chair Rostin Behnam warns the U.S. crypto market will stay largely unregulated unless Congress expands the agency’s authority over digital assets like Bitcoin and Ether (More) ASIC sues former Blockchain Global director Allan Guo over the ACX Exchange collapse, accusing him of misusing customer funds and falsifying company records (More) Outgoing CFTC Commissioner Christy Goldsmith Romero warns that the agency’s leadership vacuum threatens balanced crypto regulation and effective oversight (More) Swiss crypto investor to surrender after 28-year-old Michael Carturan escaped a $30M crypto-related kidnapping involving electrocution and torture inside a Soho apartment (More) Michael Saylor slams onchain proof-of-reserves at Bitcoin 2025, calling it a security threat that exposes institutional wallets to tracing and attacks (More) French police arrest over a dozen suspects, including minors, tied to crypto-related kidnapping rings targeting Parisian crypto entrepreneur families (More) Sygnum hires ex-CFTC Chair Christopher Giancarlo as senior policy adviser to steer regulatory strategy amid booming institutional crypto interest (More) Dedaub reveals Cetus DEX exploit used AMM logic flaw to drain $223M by manipulating liquidity pools via single-token injections and slippage abuse (More) Around the World: Bold Moves and Crypto Regulations NYC Mayor Eric Adams pushes for a municipal “Bitbond” to integrate Bitcoin into public finance and renews calls to repeal the burdensome BitLicense regulation to revive New York’s crypto ecosystem. (More) Pakistan plans to establish a strategic Bitcoin reserve and national crypto wallet, while allocating 2,000 megawatts of surplus electricity to Bitcoin mining and AI data centers. (More) White House AI and crypto lead David Sacks hints at potential U.S. Bitcoin purchases under a “budget-neutral” policy, leveraging a March 6 executive order authorizing such acquisitions. (More) IMF approves a $120 million disbursement to El Salvador but demands withdrawal from the Chivo wallet and a halt to Bitcoin expansion, clashing with Bukele’s continued daily BTC purchases. (More) Thailand to allow tourists to spend crypto linked to credit cards, shielding local merchants from volatility while advancing broader fintech reforms and launching digital government bond tokens. (More) Pakistan earmarks 2,000 megawatts of electricity for Bitcoin mining and AI data centers, turning energy surpluses into digital infrastructure growth amid rising tech investment initiatives. (More) Dubai launches MENA’s first tokenized real estate platform, Prypco Mint, enabling UAE residents to invest in property from just Dh2,000 through fractional ownership. Backed by major regulators and institutions, the initiative aims to tokenize 7% of Dubai’s property market by 2033. (More) Market Trends: Winners and Losers Top 5 Gainers 📈 According to data from CoinGecko, these are the five biggest gainers of the week: Zebec Network +121.78%, from $0.00290855 to $0.00645154 Central African Republic Meme +155.65%, from $0.02301762 to $0.058874 WalletConnect Token +94.71%, from $0.590721 to $1.15 NATIX Network +101.79%, from $0.00094523 to $0.00190804 Undeads Games +54.73%, from $0.695351 to $1.076 Top 5 Losers 📉 According to data from CoinGecko, the five biggest losers of the week are: Efinity -15.36%, from $0.616844 to $0.522099 Hey Anon -18.65%, from $6.22 to $5.06 Based Fartcoin -31.02%, from $0.00043206 to $0.00029793 B3 -25.26%, from $0.00463979 to $0.00346849 Covalent X Token -19.45%, from $0.04228250 to $0.03405899 Project Spotlight Gomble Games Launched GOMBLE BUILDERS: A Community-Powered Web3 Gaming Platform Gomble Games, creators of the hit Web3 title EggDrop, has launched GOMBLE BUILDERS, a collaborative game development platform where communities, NFT holders, and developers co-create games and share in the rewards. Unlike most Web3 projects, these games are built for mainstream mobile users, blending user-generated content with wide accessibility. Through asset licensing, AI tools, and integrated IPs, contributors can influence gameplay and earn revenue from their creations. Why It Matters: GOMBLE BUILDERS bridges Web3 innovation with Web2-scale reach, offering a new model where ownership, creativity, and financial upside are shared. With support from major partners and powered by the $GM token, it’s redefining game development as a collaborative, inclusive economy for global players. Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence. If you want to read more market analyses like this one, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community. Your Weekend Crypto Roundup | May 2025 (Week 5)
Markets

Your Weekend Crypto Roundup | May 2025 (Week 5)

31 May 2025
Markets

Your Weekend Crypto Roundup | May 2025 (Week 4)

23 May 2025
Your Weekend Crypto Roundup | May 2025 (Week 3)
Markets

Your Weekend Crypto Roundup | May 2025 (Week 3)

16 May 2025
Your Weekend Crypto Roundup | May 2025 (Week 2)
Markets

Your Weekend Crypto Roundup | May 2025 (Week 2)

9 May 2025

Featured Posts

The Hidden Dangers of Holding Crypto in Exchanges

The Hidden Dangers of Holding Crypto in Exchanges

byOlajumoke Oyalekeand1 others
27 May 2025
0

Should We Put a Price on Everything? The Ethics of Tokenizing Human Actions

Should We Put a Price on Everything? The Ethics of Tokenizing Human Actions

byFaari Labinjo
27 May 2025
0

The Most Influential Figures in Crypto History and Their Impact

The Most Influential Figures in Crypto History and Their Impact

byBobby Okposin
14 May 2025
0

Are Layer 2 Solutions Enhancing Ethereum—or Killing it?

byOlayinka Sodiqand1 others
6 January 2025
0

Beginner’s Guide To Earning Passive Income In Crypto | DeFi Planet

Simple Ways To Earn Passive Income From Your Crypto

byArjun Chandand1 others
1 September 2021
0

Read More

Chain of Thoughts

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Is Tokenization All That It’s Cracked Up To Be?

Is Tokenization All That It’s Cracked Up To Be?

byOlu Omoyele
26 February 2025
0

...

Markets Update

Your Weekend Crypto Roundup | May 2025 (Week 5)

4 days ago

Your Weekend Crypto Roundup | May 2025 (Week 4)

2 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 3)

3 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 2)

4 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 1)

1 month ago

Your Weekend Crypto Roundup | April 2025 (Week 4)

1 month ago
Read More

Events

Crypto Valley Conference
Crypto Valley Conference
5 Jun 25
Risch-Rotkreuz

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

$ZEUS Marking His Territory: Announcing An IP Collaboration with Original Zeus Artist and Trademark Holder

bychainwire
4 June 2025
0

Huma Joins the Global Dollar Network to Advance Stablecoin Adoption on Solana

bychainwire
4 June 2025
0

Zircuit Joins Binance Alpha: ZRC Airdrop & Trading Competition Go Live

bychainwire
3 June 2025
0

CoinsBee Surpasses 5,000 Gift Card Brands, Becoming the Largest Crypto Gift Card Platform Worldwide

bychainwire
3 June 2025
0

PrimeXBT expands global reach with FSCA-regulated crypto asset services

bychainwire
2 June 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00