If approved, the ETFs could begin trading as early as September. While regulatory approval is not guaranteed, the filing signals growing institutional comfort with marrying traditional equities and cryptocurrency in regulated wrappers.
These filings follow the recent debut of BlackRock’s Income ETF, which allows institutions to monetize cryptocurrency’s volatility. The 11 spot bitcoin ETFs in the U.S. have pulled in 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 in October last year and was recently trading below $62,500.
The price has dropped by over 2% in the past 24 hours.
“The bulls still have some hope, as a formal break of the trend would require the price to settle 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 the FxPPro said in an email.
A market holiday in the U.S. on Friday for Juneteenth may lead to thin liquidity and erratic price moves. Stay alert!
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.”