Crypto News – In a matter of minutes, the price of Bitcoin fell 3% when Eric Balchunas tweeted about the refiling, but it soon recovered to nearly offset the losses.
BTC Price Plummeted: Announcement of Updated ETF Filings Pushes Prices Down 3%
Amidst last-minute Form S-1 amendments that asset managers are submitting to the US Securities and Exchange Commission (SEC) for their spot Bitcoin exchange-traded funds (ETF), Bitcoin is experiencing volatility. Data from TradingView shows that on January 9, the price of Bitcoin dropped by 3% on Binance, from $47,000 to $45,600 in just five minutes. By the time this was written, it had swiftly recovered to almost $47,000, trading at $46,822.
Hard to tell what has changed at first glance, but imp thing is that the unheard of 24hr turnaround time about filing, comments and re-filing tells us all parties aiming to get this show on road pronto,
Balchunas
Some Companies Updated Applications
The day after ten asset managers submitted their S-1 revisions on January 8 was when the last-minute S-1 refilings occurred. Before the much-awaited approval date of Wednesday, January 10, many analysts think that the S-1s will be final. Following those S-1 filings, the SEC provided further comments, which some industry watchers have read as a delay signal.
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