BTC Price to Hit $50k Soon as Traders Rush to Buy Up Bitcoin ETF ($BTCETF) Token After Successful $2.5 Million Raise
Tuesday, December 5, 2023 – Crypto markets are flourishing as Bitcoin hammers-up to an 18-month high, and with BTC on course to hit $50k soon, investors are racing to participate in the Bitcoin ETF ($BTCETF) token presale.
The Bitcoin ETF Token presale has smashed the monumental milestone of $2.5 million, with total funding at $2,607,655 raised so far – with more than 50% of presale allocated tokens now sold in just weeks.
Huge growth has been fuelled by mounting excitement around the anticipated approval of a swathe of spot Bitcoin ETFs, in what has been branded ‘the most hotly anticipated launch ever’ by Merkle Tree CIO Ryan McMillin.
In the latest news, industry titan BlackRock filed an amended S-1 filing with the Securities and Exchange Commission (SEC); the amended filing move was preceded by Bitwise’s rival application.
What does this mean? Without having read them — it just means that the wheel is still turning. Both the SEC and these issuers are working hard to iron things out. These filings are likely the result of many conversations and a lot of man hours on/between both sides.
— James Seyffart (@JSeyff) December 4, 2023
Crypto analysts have explained that these moves stem from intense deliberation and discussion between filers and regulators, and this suggests that the applications are progressing toward finalization.
Indeed, BlackRock’s amended filing comes hot on the tail of the news that the firm has already received $100k in seed funding to launch the spot Bitcoin ETF from an unknown investor.
This transaction occurred on October 27, 2023 – giving BlackRock’s iShares Bitcoin Trust ETF an initial share value of $25.
Bullish market sentiment surrounding the spot Bitcoin ETF news has fuelled Bitcoin’s trip above
