Week Ahead: Macroeconomic events unlikely to spoil BTC ETF victory march

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Last week was a blast for Bitcoin spot ETF-related developments. Here is a crude summary: Blackrock’s listing on the DTCC website was noticed, which w

as then removed but relisted later. The IBTC ticker was also given to Blackrock’s spot Bitcoin ETF.

later revealed that this listing has been present on the website since August. Grayscale’s ruling was finalized, and the company submitted a fresh filing for converting its GBTC product into spot ETF. Lately, the US Securities and Exchange Commission has been on the back foot after losing multiple crypto-related lawsuits. To pile up, the Grayscale vs.SEClawsuit has also seen a development favoring Grayscale. As a result, the next ETF decision deadline in January 2024 will be key.

website crashes afterBlackRockiShares BTC Trust delisting IBTC back on list; SEC chargesBlackRockwith failing to disclose investment Macroeconomic outlook While the ETF hype has subsided over the weekend, investors can expect more volatility this week due to key macroeconomic events. November 1 - Fed Interest Rate decision November 3 - Nonfarm Payrolls It is clear from the CME FedWatch Tool that there is a 96.2% probability that the Fed will keep the policy rate at current levels of 5.25% to 5.50%. Hence, November 1 is unlikely to hold any surprises.

 

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