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SEC delays set deadline for Bitcoin ETF approval to early 2024

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The United States Securities and Exchange Commission (SEC) — the financial regulator with the final say over allowing a spot cryptocurrency exchange-traded fund (ETF) — may be moving closer to giving the investment vehicle the green light after several years of applications.

In June, the world’s largest asset management firm, BlackRock, added its application to the bundle of Bitcoin (BTC) ETF filings currently being reviewed by the SEC, creating renewed interest among investors in and out of the crypto space. The company later added a “surveillance-sharing agreement” with cryptocurrency exchange Coinbase following reports the SEC could be more open to accepting an ETF application under such conditions.

BlackRock is one of many firms with crypto ETF applications in the SEC pipeline. ARK Invest, under CEO Cathie Wood, filed to list its ARK 21Shares spot Bitcoin ETF in May 2023 and received the most recent delay from the SEC on Aug. 11, pushing back the deadline another 21 days as the regulator opens the proposal to public comments.

Under SEC guidelines, the federal regulator has the authority to delay ETF applications for up to 240 days — by opening them to public comment or otherwise — from the first filing in the Federal Register. Even so, the SEC has never approved a spot Bitcoin ETF proposal from any firm in the United States and only started accepting investment vehicles tied to BTC futures in October 2021.

One of the challenges behind getting the SEC to allow a spot crypto ETF may be the nature of the investment vehicle. Bitcoin futures-linked ETFs also enable individuals and companies to invest in the crypto asset without an exchange, while a spot BTC ETF could involve holding Bitcoin within a fund for more direct investment.

Gemini co-founders Cameron and Tyler Winklevoss were the first to apply for a crypto exchange-traded product listing using their Bitcoin Trust in July 2013, when many regulators might not have even understood digital currencies and the SEC ultimately rejected the application.

Stuart Barton, co-founder and chief investment officer of Volatility Shares — the firm behind the listing of a leveraged Bitcoin futures ETF in June — told Cointelegraph its process of applying with the SEC involved back-and-forth negotiations. The regulator proposed changes to disclosure documents but was generally “cooperative.” He speculated that smaller firms might have more of an edge with the SEC on a spot crypto ETF offering.

“Big companies have been doing the same thing they’ve been doing for years,” said Barton. “Yeah, there are new applications, new filings… they haven’t really moved the argument along.”

At the time of publication, major asset management firms with spot Bitcoin ETF applications under review by the SEC include BlackRock, ARK Invest, Bitwise Asset Management, VanEck, WisdomTree, Invesco and Galaxy Digital, Fidelity and Valkyrie. With the maximum 240-day extension window available to the SEC, the final deadline for ARK’s Bitcoin ETF is in January 2024, while approval or disapproval of all the other firms’ offerings could come as late as March 2024.

Related: SEC decision on Bitcoin ETFs won’t leave out Wall Street giants

Part of the SEC’s seeming reluctance to sign off on a spot crypto ETF could be from the nature of the crypto market in the United States, which, while regulated, has left many lawmakers and industry leaders calling for greater clarity and oversight. The SEC is currently pursuing enforcement cases against Coinbase, Binance and Ripple, and it has already levied financial penalties against firms such as Bittrex. Barton added:

“Both sides are going to bend a little bit. I think the SEC are going to have to be a little bit more open-minded […] There’s going to be a lot more bending, I think, from the crypto side.”

U.S. lawmakers are currently considering legislation to better define the roles the SEC and Commodity Futures Trading Commission (CFTC) should have in regulating digital assets. In addition, both the regulator and industry may have to consider court decisions until regulations are better defined, as a judge in the SEC vs. Ripple case largely ruled that XRP was not a security, creating ramifications for everyone dealing with crypto in the United States.

“[The ETF application process] puts the SEC in an incredibly powerful position,” said Barton. “Gensler has a great amount of sway in that; the political makeup of the commission definitely influences that.”

Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?

As of August, certain analysts have suggested that the chances of a spot Bitcoin ETF being approved in the U.S. are close to 65% based partly on BlackRock’s application. Both Cathie Wood and Grayscale — the asset manager currently suing the SEC over its ETF application — have hinted that the regulator could approve multiple applications simultaneously to avoid any company having an advantage over another.

Cryptocurrency

NEXST Launches Web3 VR Entertainment Platform with K-Pop Group UNIS as First Global Partner

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[PRESS RELEASE – Dubai, UAE, July 7th, 2025]

Revolutionizing fandom with AI, VR, and Web3 technology

Leading the next wave of immersive digital entertainment, NEXST proudly announces the launch of its groundbreaking VR division, powered by cutting-edge AI, VR, Web3, and Real-World Assets (RWA). The platform’s first major collaboration features rising global K-Pop sensation UNIS, making their virtual debut in a revolutionary new format.

As a next-generation AI-driven entertainment platform, NEXST is on a mission to reshape how fans connect with artists. With immersive VR content, real-time interactivity, and digital ownership through Web3, NEXST offers fans an entirely new way to experience music and storytelling.

“We believe the future of entertainment is immersive, decentralized, and artist-centric,” said Axel Gutman, Co-Founder of NEXST.

“Welcoming UNIS to the NEXST VR LIVE platform is just the beginning. We’re excited to announce more collaborations with global artists and top K-Pop stars in the coming months.”

Introducing NEXST VR LIVE: Immersive Web3-Enabled Experiences

NEXST VR LIVE is a dedicated division focused on creating immersive XR experiences using Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). This initiative bridges globally famous artists, beloved IPs, and interactive VR environments—seamlessly integrated with Web3 technology.

Key features include:

  • Virtual concerts and performances with world-class artists
  • Interactive fan experiences powered by AI
  • Web3 integration that allows fans to own, trade, and participate in the entertainment economy
  • A smooth Web2-to-Web3 transition for mainstream fans

Inaugural Artist Announcement: K-Pop Powerhouse UNIS Joins NEXST VR LIVE!

Kicking off the launch is UNIS, the powerhouse K-Pop girl group formed through SBS’s hit survival show UNIVERSAL TICKET. Since their 2024 debut with WE UNIS and breakout single SUPERWOMAN, UNIS has captured the hearts of fans worldwide with their energy, vocals, and fierce Gen Z appeal.

By partnering with UNIS, NEXST taps into a vibrant, global fanbase—helping transition millions of Web2 music fans into the Web3 world.

$NXT Token: Powering the Web3 Entertainment Economy

The $NXT token powers the NEXST entertainment platform with real-world and digital utilities that enhance fan engagement, access, and ownership.

  • Exclusive Access: Unlockig VR concerts, discounted live tickets, VIP events, and early content drops.
  • AI & Fan Interaction: Accessing premium AI agent features, advanced LLM tools, and participate in artist growth via fan voting.
  • GameFi Rewards: Earning $NXT through gameplay, unlock in-game NFT items, and receive exclusive airdrops.

Details about the $NXT will be released soon via NEXST’s official social channels.

The Road Ahead: NEXST’s Vision for a Connected Future

NEXST will continue to push the boundaries of innovation by integrating AI, VR, and Web3 technologies across various entertainment domains, including music, live performances, and fan communities. Following UNIS, we aim to deepen collaborations with a diverse array of global artists and IPs, consistently delivering next-generation entertainment experiences that foster deeper connections between fans and artists.

We invite you to anticipate more groundbreaking events, collaborations, and updates as we collectively build the future of entertainment.

About NEXST

NEXT INNOVATIONS TECHNOLOGY L.L.C is a cutting-edge entertainment platform developer based in the UAE, dedicated to pioneering next-generation digital experiences.

Staying Connected with NEXST

About UNIS

UNIS is an 8-member South Korean girl group formed through SBS’s survival audition program UNIVERSE TICKET. After debuting on March 27, 2024, with their first mini-album WE UNIS, they have remained highly active, releasing their first single album CURIOUS in August of the same year and unveiling SWICY in 2025. Since their debut, they have continued to expand their global presence through various music shows and events.

UNIS Official Channels

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We Asked Gemini, ChatGPT, Grok Where Cardano (ADA) Will End 2025: The Verdict Will Surprise You

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TL;DR

  • With bitcoin sitting close to its all-time high of almost $112,000, the general perception among traders and investors is that the bull market is still going on.
  • As such, we decided to ask a few of the biggest AI solutions (Grok, ChatGPT, and Gemini) about one of the most popular altcoins – ADA, and its market potential this cycle.

How High Can ADA Go?

Unlike our similar article regarding XRP, the AI solutions provided more skeptical and, in some cases, bearish price predictions for ADA. ChatGPT, for example, warned investors not to anticipate fireworks from Cardano’s native token by the end of the year, stating, “Expect ADA to float in the $0.55-$0.65 range early in H2.”

Its most aggressive scenario envisions a price surge to somewhere between $1-$2, but said it’s not very likely the asset will go this high. Additionally, it cautioned users that if market support falters in the following months, ADA can drop well below its current levels of around $0.6.

Grok was slightly more bullish on the token’s future price trajectory. Its most realistic price range by the end of the year is “likely between $0.9 and $2.05, with an average around $1.21 and $1.48 if key resistance levels (e.g., $1.1) are breached and market conditions remain favorable.”

It touched upon some of the most extreme predictions circulating online, such as ADA at $7, but labeled them as “less credible without unprecedented adoption.”

Gemini described the overall market sentiment toward Cardano as “cautiously optimistic.” However, it warned that its price could struggle for the next few months and end the year at $0.55, which would mean a lower level than the current one.

What Would Drive This Volatility?

Although their price targets for the end of the year differentiated, the AI solutions were united in terms of what could drive the price gains or losses.

If ADA is to surge toward the most bullish zones outlined in the previous paragraphs, certain factors need to be aligned, ChatGPT, Grok, and Gemini said. One of the most important is the potential approval of a spot ADA ETF in the US. The current odds, according to Polymarket, are above 80% for a green light, and several companies have filed to launch such financial vehicles.

If approved, they can attract significant institutional interest, which would be a price booster. Other factors that could send ADA higher include technical upgrades, such as the January-implemented Plomin, which introduced a more sophisticated on-chain governance procedure, expanding the blockchain’s DeFi capabilities, and the overall market structure.

However, the AI chatbots also indicated that regulatory uncertainty, ecosystem stagnation, or broader market downturns could cap ADA at $0.6 or push it even lower. Consequently, the trio warned that investors should do their own research and not rely solely on AI-based predictions.

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Ethereum Price Analysis: Is ETH Primed for Further Gains After Surge Past $2.5K?

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Ethereum recently broke above the 200-day moving average and completed a pullback; however, the lack of strong bullish momentum suggests a higher likelihood of continued sideways consolidation.

Technical Analysis

By ShayanMarkets

The Daily Chart

After a period of consolidation between the 100-day and 200-day moving averages, ETH successfully broke above the 200-day MA at $2.5K, followed by a pullback. While this move is typically viewed as a bullish signal, ETH has failed to demonstrate strong follow-through, indicating weak market participation and insufficient bullish momentum.

As a result, the likelihood of continued sideways consolidation has increased. Currently, the price remains trapped between the 200-day MA and the critical $2.8K resistance level, with a decisive breakout in either direction needed to establish the next major trend.

The 4-Hour Chart

On the lower timeframe, Ethereum’s recent rally was halted at a key bearish order block between $2,625 and $2,670, a zone that has consistently attracted selling pressure. The rejection has led to a retracement toward the $2.5K support level — a historically significant zone where buyers have previously stepped in.

As anticipated, ETH found temporary support here and attempted a minor rebound. However, the current lack of trading volume and diminished bullish momentum suggests the potential for another rejection at the overhead resistance. Until a breakout above $2,670 or below $2.5K occurs, Ethereum is expected to remain range-bound.

Sentiment Analysis

By ShayanMarkets

This chart presents the Binance Liquidation Heatmap, highlighting zones where significant liquidation events are likely to occur. These areas often act as liquidity magnets, attracting price action due to the concentration of leveraged positions. Large market participants, commonly referred to as whales, tend to exploit these zones to enter or exit positions efficiently.

Currently, a prominent cluster of liquidation levels is situated just above the $2.6K mark, suggesting a strong likelihood that Ethereum’s price could gravitate toward this region. If reached, it may trigger a short-squeeze, fueling further upward momentum and potentially propelling ETH toward new local highs.

Conversely, another substantial liquidity pool resides below the $2.5K level, implying the possibility of a downward move to tap into this zone. As a result, Ethereum remains confined within a tight range between these liquidity clusters, awaiting a decisive breakout to determine the next directional move.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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