Bloomberg analyst Eric Balchunas claimed that the SEC is in talks with exchanges regarding spot Bitcoin ETF applicants. The analyst stated that the institution wants transactions in cash instead of in-kind exchange during the creation and redemption of ETF shares. In his article shared on X, Balchunas said:
“We are hearing that the Trading and Markets division of the U.S. Securities and Exchange Commission is contacting exchanges this week regarding spot Bitcoin ETFs, informing them that they want the ETFs to be settled in cash, and asking them to make changes in the next few weeks.”
According to Balchunas, this change will bring responsibility for Bitcoin transactions to companies that will issue ETFs, allowing brokerage firms to carry out Bitcoin transactions without resorting to unregistered subsidiaries or third-party companies.
Bloomberg ETF analyst James Seyffart described this development as “It is not a very important issue, but it shows that things are progressing.” He evaluated it as follows.
ETF is known as a popular investment tool that tracks the value of the underlying asset. Investors have been calling for a Bitcoin ETF for a decade. However, the SEC has always said no to approving the Bitcoin ETF, citing concerns about market manipulation.
There are currently many spot Bitcoin ETF applications awaiting approval. Several high-profile Wall Street firms, including BlackRock, have filed to launch their own products.
While the SEC’s response to spot Bitcoin ETF applications is awaited, an impressive entry into the crypto world has been made with a token called Bitcoin ETF. The advantageous pre-sale event of this new coin brings together investors who want to purchase Bitcoin ETF tokens.
What is Bitcoin ETF Token?
Bitcoin ETF Token is a new cryptocurrency project that offers users the opportunity to stay informed about ETF approvals and profit from it.
There’s more to the project than ETFs. Earnings, burning and tax systems are integrated into the token working mechanics. As a result, the Bitcoin ETF token can also be classified as a DeFi project. BTCETF demand is driven by deflationary tokenomics designed to coincide with key events in the spot Bitcoin ETF approval process.
Bitcoin ETF token is an ERC-20 token created on the Ethereum blockchain and its total supply is determined as 2 billion 100 million tokens. 40 percent of this total supply is allocated for pre-sale, 25 percent for the staking mechanism that provides the opportunity to generate passive income, 25 percent for token burning, and 10 percent for liquidity.
The token combines excitement and utility with a creative approach, which explains the increased pre-sale traffic. The stake-and-win system encourages token retention with the promise of attractive rewards. In addition, high APY rates are enough to attract the attention of investors.
Upon achievement of milestones such as the determination of the launch date, 5 percent of the BTCETF supply will be burned and the scarcity of the remaining tokens will gradually increase over time. This also encourages early investment in the project. Thus, it accelerates community formation as more participants join the pool.
Analysts and crypto lovers are coming forward with bullish price predictions for Bitcoin ETF Token as the project’s social media visibility increases. For example, Jacob Bury, known for his low-limit catches, shared that BTCETF has the potential to grow.
BTCETF Leads Bitcoin ETF News
The new cryptocurrency project Bitcoin ETF token (BTCETF) is mentioned with Bitcoin EFT news. This project aims to capitalize on the anticipation surrounding the approval of a spot Bitcoin ETF in the US.
Rumors suggest that crypto whales are accumulating BTCETF in the ongoing presale, which has already raised over $1.2 million. The early stage of pre-sale of the project, which aims for a cap of $5 million in pre-sale funding, offers investors a unique opportunity.
When the final stage of the 10-stage pre-sale event is reached, the token price will increase to $ 0.0068. Investors who want to purchase Bitcoin ETF tokens can currently purchase BTCETF for $0.0056. ETH, USDT, BNB, MATIC or card transactions can be used to participate in the pre-sale event.
Bitcoin ETF Token: An Innovative Perspective Bringing to Markets
Bitcoin ETF token aims not only to benefit from market trends, but also to support market relations and provide benefits to investors in this regard.
The official BTCETF token website offers content enriched with Bitcoin ETFs, approvals, and aggregate Bitcoin-related news and updates from around the world. The project-specific native token BTCETF offers investors the opportunity to directly participate in major milestones such as SEC approval and the launch of Bitcoin ETF products.
Buying Bitcoin ETF tokens looks like it could become a more talked about topic in the coming days. According to analysis, investors interested in spot Bitcoin ETF applications that seem to receive approval are showing great interest in this token.
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