Crypto News Today: BTC-Spot ETFs and S-1 Filings in Focus

Key Insights:

• BTC slipped by 0.16% on Sunday, ending the session at $44,055.
• The crypto market is betting on mid-week BTC-spot ETF approvals.
• On Monday, the focus will remain on BTC-spot ETFs and the submission of S-1s by 0800 as per SEC instruction.

Bitcoin-Spot ETF: SEC Issues FOMO Warning on the Eve of BTC-Spot ETF Decisions

Bitcoin (BTC) slipped by 0.16% on Sunday, ending the session at $44,055. Significantly, BTC held onto the $44,000 handle amidst anticipation of the SEC approving the first batch of BTC-spot ETFs.

On Sunday, Bloomberg Intelligence ETF analyst James Seyffart shared a post from Bloomberg. Katie Greifeld of Bloomberg gave the latest on BTC-spot ETFs, saying,

“Sources say:

• • Issuers have until 8am Monday to submit S-1s.
  • SEC plans to vote on 19b-4s in the coming days.

If both 19b-4s and S-1s are approved, ETFs could start trading as soon as the next day.”

Last week, Better Markets tested bets on the SEC approving the first batch of BTC-spot ETFs. Better Markets submitted a comment letter, calling for the SEC to decline the applications. The links between Better Markets, SEC Chair Gary Gensler, and Senator Elizabeth Warren did not go unnoticed.

However, investors remained optimistic, considering BTC’s hold onto the $44,000 handle.

On Sunday, Ibrahim Ajibade of FX Empire laid out three key indicators highlighting expectations of SEC approvals. These included fund sponsors increasing BTC holdings and a rotation out of altcoins into BTC.

A FOMO (Fear of Missing Out) warning from the SEC’s Office of Investor Education and Advocacy (SEC Investor Ed) could be another positive sign. On Saturday, the SEC Investor Ed posted a FOMO warning on X (formerly Twitter), saying,

“Say “NO GO to FOMO” (fear of missing out). Just because others might buy a particular investment doesn’t mean it’s the right opportunity for you.”

The SEC gave a link to a detailed guidance paper to assist investors in dealing with the fear of missing out.

ETF Institute co-founder Nate Geraci shared his views on the eve of the SEC decision.

Nate Geraci: Five Things to Look Out for re Spot BTC ETFs

The ETF Institute co-founder shared five things he will look out for this week, vis-a-vis bitcoin ETFs. These included,

• • Fee disclosures: Fidelity currently has the lowest fee at 0.39%.
  • SEC approval vote: The vote could take place on Wednesday.
  • BTC-spot ETF Launches: Investor inflows will draw significant market interest.
  • GBTC conversion: AUM advantage if converting on the same day as BTC-spot ETF launches.
  • Marketing: Issuers will battle against crypto advertising regulations to woo investors.

Another consideration for investors could be progress toward an ETH-spot ETF market. There is also chatter about an XRP-spot ETF. On Friday, Grayscale announced the rebalancing of funds. Significantly, Grayscale included XRP in the Grayscale Digital Large Cap Fund (GDLC), fueling speculation of a Grayscale XRP-spot ETF.

Technical Analysis

Bitcoin Analysis

BTC held above the 50-day and 200-day EMAs, sending bullish price signals.

A BTC break above the $44,690 resistance level would bring the $46,020 resistance level into play.

On Monday, BTC-spot ETF-related updates will influence the buyer demand for BTC.

However, a break below the $42,968 support level would support a fall to the 50-day EMA.

The 14-Daily RSI reading, 54.73, indicates a BTC move through the $46,020 resistance level before entering overbought territory.

Ethereum Analysis

ETH remained above the 50-day and 200-day EMAs, affirming bullish price signals.

An ETH break above the $2,300 resistance level would support a move toward the $2,457 resistance level.

However, a fall through the 50-day EMA would bring the $2,143 support level into play.

The 14-period Daily RSI at 45.97 indicates an ETH drop to the $2,143 support level before entering oversold territory.