Bitcoin Nears Record Futures ETF Listing

Bitcoin India

Bitcoin India

Bitcoin peaked in six months, trading at a distance from an all-time high on Tuesday as traders bet that an expected listing of a futures-based US exchange-traded fund will lead to investments in bitcoin and crypto. Bitcoin, the world's largest cryptocurrency by market value, rose 1.5% during the Asian session to $62,991, the highest since its all-time high of $64,895 in April. It rose about 40% in October on hopes that with the launch of Bitcoin Exchange Traded Funds (ETFs),

Several of which are still underway, billions of dollars will be managed by pension funds and other investors in the area. flow. ProShares' Bitcoin Strategy ETF is expected to trade under the ticker symbol BITO on Tuesday unless the U.S. Securities and Exchange Commission objects. Analysts have warned that the fund will not invest directly in Bitcoin more likely in Chicago-traded futures and therefore may not have a direct impact on cash flow.

However, speculators have bet that the launch is a positive signal for spot prices anyway. Bitcoin futures rose Tuesday, with the latest trade at $62,690, and spot prices could fall quickly if money continues to flow, according to crypto analysts at Arcane Research."This could lead to more constant buying pressure on CME, causing the open interest to rise.

This will attract more cash and carry opportunities, leading to buying pressure in the spot market," they said in a note. Due to the growing interest in digital assets, crypto ETFs were launched in Canada and Europe this year. VanEck and Valkyrie are among the fund managers looking for US-listed ETF products, despite Invesco abandoning its proposed futures ETF on Monday.

The Nasdaq approved the listing of the Valkyrie Bitcoin Strategy ETF on Friday and Grayscale, the world's largest digital currency manager, is considering converting its Grayscale Bitcoin Trust into a spot Bitcoin ETF, CNBC reported. The ProShares ETF will start trading on Tuesday, after a 75-day period during which the SEC may object to the listing on Monday. Ether, the second largest cryptocurrency, followed Bitcoin's rise and also traded at a strong pace on Tuesday. More recently, it increased 1.2% to $ 3,790.

Sources:- Money control



KL Rahul and Rashid Khan

KL Rahul and Rashid Khan allegedly approached by Lucknow, complaint lodged by PBKS and SRH

The deadline by which all 8 IPL franchises should give the list of players that they would like to retain ahead of the mega auctions is 30th November...

IPL 2022

Retainment Player List of IPL 2022

By Tuesday evening, the official list of retainment will pour in after the selection procedure of the eight original franchises. As per the repor...

States & UTs

Maharashtra New Rule

Maharashtra Issues New Rules for the common mass dropping down

 The Maharashtra government, on Tuesday, has issued a new set of rules for everyone who would come into its territories from outside, over the ai...

Resident doctors

Resident doctors in Karnataka go on a strike from the 29th of November

The association of the Karnataka doctors on Sunday went on for a statewide strike from the 29th of November the reason for the strike being the three-...


Akhilesh Yadav

UP educational system corrupted, Akhilesh Yadav alleges

UPTET 2021 Paper was reported to have been leaked. Samajwadi Party chief, Akhilesh Yadav intimates e...

Tripura Municipal Election

BJP Leads Tripura Municipal Election Results 2021

Tripura Municipal Election Results 2021: The counting of votes for over 200 seats in the Agartala Mu...


Money Heist

Netflix to expand the universe of Money Heist

 Good news for all Money Heist fans! Netflix has now assured that though the "Heist"...

Ranveer Singh

Ranveer Singh Playing Kapil Dev in 83:Trailer Launch

The trailer of 83 is finally out after much wait and speculation. The film is based on India's w...


The Live Newz is an independent, budding and online news portal that came into existence recently. Our mission is to create and deliver the finest news for the readers. We act as a cutting-edge platform that provides the users with every update on recent happenings. We aspire to be true to the journalistic values and maintain the standard of its excellence by presenting the truth to the readers.