ETFs
Bitcoin (BTC) News Today: Fed Nervousness Impacts BTC-Spot ETF Demand
“The SEC just added ProShares’ Ethereum ETF filing to its website. (It’s extremely fast) Instinct initially says this won’t launch on day one with the other ETFs, but who knows. It’s interesting.”
It is important to note that ProShares passed on the BTC spot ETFs, but deemed a request for an ETH spot ETF appropriate. With issuers awaiting approval of Forms S-1, ProShares could launch alongside the first applicants if the SEC approves its 19b-4 in time.
More big-name players on the starting line could attract more investor interest in the US ETH spot ETF market. According to ETF Database, Proshares Advisors LLC ranked sixth in ETF issuer revenue rankings. black rock (BLACK), rue de l’Etat (STT) and Invesco (ZIV) occupied the top three spots, with Vanguard fourth.
Technical analysis
Bitcoin Analysis
BTC stayed comfortably above 50 and 200 days EMAreinforcing bullish price signals.
A return of BTC to $70,000 would support a move towards Friday’s (June 7) high of $71,992. A break of $71,992 could signal a rise to the all-time high of $73,808.
US economic indicators, BTC spot ETF market flow data, and US politics should be considered.
Conversely, a BTC break below the $69,000 support level could give the bears a chance at the 50-day EMA.
With a daily RSI of 55.77, BTC could reach the all-time high of $73,808 before entering overbought territory.