• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

Bitcoin Pushes Higher – $120K Next Milestone in Sight

2025-07-11

Chinese industry group warns Web3 and DeFi high-return deals hide classic Ponzi engines

2025-07-10

Tokenized Stock EXPLOSION: Solana RWAs & Equities Will TAKE OVER!

2025-07-10

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is Copy Trading in Crypto? A Beginner’s Guide

    2025-07-10

    A Step-by-Step Guide for Risk-Takers

    2025-07-09

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    2025-07-09

    How It Works and What to Watch Out For

    2025-07-09

    Crypto Risk Management Strategies for Trading (2025)

    2025-07-07
  • Videos

    Bitcoin Pushes Higher – $120K Next Milestone in Sight

    2025-07-11

    Tokenized Stock EXPLOSION: Solana RWAs & Equities Will TAKE OVER!

    2025-07-10

    How To Mine Bitcoin At Home

    2025-07-10

    Time Is Running Out to Accumulate Bitcoin at These Levels

    2025-07-09

    Korea Goes ALL IN On Crypto: ETFs, Institutions, XRP & More!

    2025-07-09
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Bitcoin»BTC struggles as Grayscale pushes for an ETF approval. Assessing…
Bitcoin

BTC struggles as Grayscale pushes for an ETF approval. Assessing…

2023-09-06No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Journalist

Posted: September 6, 2023

  • Grayscale pressures the SEC to make a decision regarding its spot Bitcoin ETF filing in a new letter.
  • Bitcoin’s short-term demand remains low as the market wades through a period of uncertainty.

Spot Bitcoin ETFs are no doubt one of the hottest topics in the cryptocurrency market. This is because they could potentially trigger the next bull market. They represent much more for the companies behind them.


Is your portfolio green? Check out the Bitcoin Profit Calculator


Grayscale is among the companies that have filed for a Bitcoin ETF approval. The first companies to secure approval will get to tap into robust demand from institutions.

Additionally, they get to earn potentially billions in revenue generated from fees. This partly sums up why companies like Grayscale are eager to be among the first to secure a Bitcoin ETF regulatory approval.

Why Grayscale might get the green light soon

Grayscale has been particularly keen on the matter, as revealed in its latest announcement. The company recently disclosed that its legal team has submitted a letter over the matter. The letter notes that the SEC has already surpassed three times the length that it is legally permitted to take for a filing.

As the letter notes, $GBTC’s “Rule 19b-4 filing has now been pending for nearly three times the length permitted for Commission action under Section 19(b) of the Exchange Act.” (2/3)

— Grayscale (@Grayscale) September 5, 2023

The digital asset investment company’s latest aggressive push aims to get the SEC to be more accountable. This was after the U.S. regulator had been delaying the decisions on spot BTC ETFs. It is only a matter of time until the first approval happens, especially now that Grayscale is pressuring the SEC.

See also  Why the Bitcoin rally may not end anytime soon

Bitcoin holders are growing

Bitcoin has been facing directional headwinds in the last few weeks. However, the number of addresses holding BTC has been steadily growing and it reportedly just reached a new all-time high. Roughly 4.47 million addresses now hold at least 0.1 Bitcoin.

📈 #Bitcoin $BTC Number of Addresses Holding 0.1+ Coins just reached an ATH of 4,472,021

View metric:https://t.co/hZY8dBLpzX pic.twitter.com/DGPptzvOrh

— glassnode alerts (@glassnodealerts) September 5, 2023

This suggested that there was still some demand for Bitcoin at its current level, especially after its August discount. However, the market is still under a cloud of uncertainty especially due to the possibility of interest rate hype during the next FED announcement.

The bulk of BTC’s demand has been suppressed by the prospects of another crash.


How many are 1,10,100 BTCs worth today


The level of Bitcoin open interest remains low on account of the aforementioned concerns. Open interest, at press time, was down to March 2023 levels. BTC’s estimated leverage ratio also confirmed a suppressed appetite for leverage on account of the higher risk factor.

Bitcoin open interest and estimated leverage ratio

Source: CryptoQuant

The low estimated leverage ratio confirmed that Bitcoin traders were still leaning on the side of caution in the short term. This is until prevailing market conditions offer more clarity.

Approval Assessing BTC ETF Grayscale Pushes struggles
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Pushes Higher – $120K Next Milestone in Sight

2025-07-11

Watch Out! BTC Whales on the Move: Bitcoin’s Next Leg, RWAs & More!

2025-07-07

BTC SHORT SQUEEZE! This is shocking!!!

2025-07-03

🚀 BTC BOOMING: BlackRock $4B 🏦 | Dollar Crash w OTC 📉 | ETFs EXPLODE 💥

2025-07-02
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Analysis

God Candle Coming For XRP Price? Analyst Reveals His Target

2023-10-24

The XRP price has experienced a strong upswing along with the entire crypto market in…

Videos

YOU NEED 85% OF YOUR WEALTH IN BITCOIN NOW!!!!

2023-07-27

Bybit for a bonus of up to $30’000 sign up at http://bybit.davincij15.com Join OKx at…

Scams

Scammers hijack Visa, Dean Norris social media accounts to promote fake Solana tokens

2025-01-27

Over the weekend, hackers targeted the social media accounts of Visa and Hollywood actor Dean…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

Bitcoin Pushes Higher – $120K Next Milestone in Sight

2025-07-11

Chinese industry group warns Web3 and DeFi high-return deals hide classic Ponzi engines

2025-07-10

Tokenized Stock EXPLOSION: Solana RWAs & Equities Will TAKE OVER!

2025-07-10

How To Mine Bitcoin At Home

2025-07-10
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 117,223.41
ethereum
Ethereum (ETH) $ 2,922.39
xrp
XRP (XRP) $ 2.69
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 682.47
solana
Solana (SOL) $ 159.72
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.194583
tron
TRON (TRX) $ 0.300408
staked-ether
Lido Staked Ether (STETH) $ 2,919.74
bitcoin
Bitcoin (BTC) $ 117,223.41
ethereum
Ethereum (ETH) $ 2,922.39
xrp
XRP (XRP) $ 2.69
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 682.47
solana
Solana (SOL) $ 159.72
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.194583
tron
TRON (TRX) $ 0.300408
staked-ether
Lido Staked Ether (STETH) $ 2,919.74