As the week unfolds, crypto investors face sleepless nights with significant events on the horizon. The final decision on the Ark&21Shares ETF application by the SEC is due tomorrow, potentially influencing the market.
Following Wednesday’s ETF decision, the rest of the week will be pivotal for investors as the performance of the ETFs on Thursday and Friday could impact Bitcoin’s price trajectory. Additionally, Friday’s U.S. inflation data will be crucial, with expectations for a below-forecast figure to ease macro pressures ahead of the January 31st Fed meeting.
On January 24th, Tesla’s quarterly report will be scrutinized for any Bitcoin transactions, with the market eager to see if the company bought or sold BTC during the recent market uptick. Meanwhile, potential spot Bitcoin ETF issuers are competing to offer the lowest annual management fees.
Three firms are undercutting fees for the first six months, with BlackRock extending this for a year, and WisdomTree waiving fees up to $1 billion. This fee competition is particularly notable given the speculative nature of Bitcoin compared to the higher fees typically associated with gold ETFs.
Investors are being enticed by lower ETF fees, heating up the competition. Additionally, Valkyrie’s co-founder predicts a high likelihood of ETF trading commencing this Thursday and anticipates potential approvals for spot ETFs for ETH and XRP Coin following the Bitcoin ETF decision, although these are not confirmed by the SEC.