Adding an intriguing twist to the unfolding narrative, Direxion and ProShares, each with their 2X Bitcoin futures applications, unexpectedly withdrew their filings on June 1 and June 7, respectively.whether these companies were doubtful of receiving approval or simply unwilling to play second fiddle in the market following the launch of Volatility Shares.
As reported by U.Today, major asset management players, BlackRock and Invesco, have entered the Bitcoin ETF arena, hinting at growing mainstream acceptance. BlackRock, the world's largest asset manager, has recently filed for a Bitcoin ETF aimed at providing exposure to the cryptocurrency. This move marks BlackRock's continued interest in the flagship cryptocurrency, but the odds of the SEC approving a spot ETF remain slim.
Not to be left behind, ETF giant Invesco has reapplied for a spot Bitcoin ETF in collaboration with Galaxy Digital. Invesco's decision to reapply, initially made in fall 2021, follows BlackRock's application.
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