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The spot bitcoin ETF: Here's what happens when it starts trading

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The spot bitcoin ETF: Here's what happens when it starts trading

Representations of cryptocurrency Bitcoin are placed on a PC motherboard in this illustration taken June 16, 2023. 

Dado Ruvic | Reuters

Crypto investors are waiting for the Securities and Exchange Commission to approve a raft of spot bitcoin applications, likely Wednesday

With a spot bitcoin ETF now looking very real, attention is turning to the details of how it will trade, how much it will cost, how much of the runup in bitcoin is due to demand that has been pulled forward, and premium or discount valuations.

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Fees are competitive and will get more so

With nearly a dozen ETFs competing for attention, bitcoin buyers will be very price sensitive, and issuers are already engaged in a modest price war. For example, Cathie Wood’s ARK Invest, which is partnering with 21Shares to launch a bitcoin ETF, initially announced a fee of 0.8% but on Monday announced no fee for the first six months.

Other issuers are also steeply discounting prices, with several (Bitwise, ARK, Invesco) offering 0% fee for the first six months, while Grayscale is charging 1.5%.

Spot bitcoin ETF fees
Bitwise (GBTC) 0.0% (after first six months: 0.24%)
ARK Invest/21Shares (ARKB): 0.0% (after first six months: 0.25%)
Invesco Galaxy Bitcoin ETF (BTCO) 0.0% (after first six months: 0.59%)
iShares Bitcoin Trust (IBIT) 0.20% (after first 12 months: 0.30%)
VanEck Bitcoin Trust (HODL) 0.25%
Franklin Templeton Digital Holdings Trust 0.29%
Fidelity Wise Origin Bitcoin Trust (FBTC) 0.39%
WisdomTree Bitcoin Trust (BTCW) 0.50%
Valkyrie Bitcoin Fund (BTF) 0.80%
Grayscale Bitcoin Trust (GBTC) 1.50%

Invesco’s Galaxy Bitcoin ETF has set its expense ratio at 0.0% for the initial six months and the first $5 billion in assets, and goes to 0.59% after.

How will a spot bitcoin trade relative to bitcoin and bitcoin futures?

One of the main questions is how well a spot bitcoin ETF will track bitcoin and bitcoin futures.

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Simeon Hyman, ProShares’ global investment strategist who manages the largest bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO) that launched in October 2021, noted that bitcoin futures ETFs have tracked bitcoin “fairly well.” But he also told me, “The spot market for bitcoin is still not mature. The futures market is regulated and mature. We’ll have to wait and see how well they track against each other.”

Another issue is whether the bitcoin ETFs will trade at a premium or discount to their net asset value. In this case, the NAV is the value of the bitcoin owned by the ETF. Some are concerned that the creation and redemption process that was agreed upon to create spot bitcoin ETFs could result in a bitcoin ETF trading at a premium to its NAV.

“Some of these ETFs will trade at a premium, and then as investors start to understand the nuances, that’s when we will filter out the nuances and the small points,” Reggie Brown, GTS co-Global Head of ETF Trading & Sales, told Bloomberg.

Most market participants believe that any premiums will be small.

Som Seif runs the Purpose Bitcoin ETF, the first bitcoin ETF to launch in Canada in 2021.

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“Our product trades extremely efficiently, with very tight spreads,” Seif told me. “You should see no impact on trading efficiency. There will be a breadth of players, and the underlying asset is very liquid.”

Matt Hougan, CIO of Bitwise Asset Management, one of the applicants for a bitcoin ETF, agreed: “The underlying market is very liquid,” he told me. “We have been in the market buying and selling bitcoin for years. The main issue are, who gets the liquidity, and who wins on expenses.”

How much money will these ETFs attract?

It’s not clear how much new money will be dragged in once a spot bitcoin ETF trades.

However, two ETF-related events have helped propel interest in bitcoin in the last two years:

1) The beginning in trading of bitcoin futures ETFs (BITO), starting in October 2021, which helped move bitcoin from almost $10,000 in October of that year to over $40,000 by January 2022. The largest bitcoin futures ETF, ProShares bitcoin Strategy ETF (BITO), recently passed $2 billion in assets under management, according to ProShares.

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2) Blackrock’s application for a bitcoin ETF on June 16, 2023, helped moved bitcoin from roughly $25,000 to $30,000 in a matter of days.

Brown estimated that the combined ETFs could have fairly significant inflows. “Thirty days out, it could be $2 billion-$3 billion,” he told Bloomberg, estimating it could attract $10-$20 billion in new assets this year.

Still, considering the current market capitalization of bitcoin is near $900 billion, that is not huge inflows. The Canadian spot bitcoin ETF, the Purpose Bitcoin ETF, has about $400 million in assets after over two years.

What’s next?

The next issue, Hougan says, is whether the big institutions and financial advisors will allow their investors to trade bitcoin on their platforms.

“Just because a bitcoin ETF has been launched, it doesn’t mean JP Morgan will get in,” Hougan said.

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After that, Hougan said the next big events will be the bitcoin halving in April, followed by any interest rate cuts from the Federal Reserve.

“Higher interest rates are bad for non-yielding assets like bitcoin or gold,” he told me. “If you get 5% on cash, that’s tough competition.”

A bitcoin ETF approval would be a 'watershed' moment for crypto industry, CEO says

Crypto

The Cryptocurrency News Everyone Missed: Pepeto Crosses $9 Million While PEPE and Chainlink Wait for a Catalyst

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The Cryptocurrency News Everyone Missed: Pepeto Crosses  Million While PEPE and Chainlink Wait for a Catalyst

Consensus Miami just opened with more than 20,000 leaders in crypto, finance and policy filling the convention center, and the CLARITY Act stablecoin yield compromise reached its final text this month. The cryptocurrency news cycle is stacking events faster than most traders can follow, and the $629 million that poured into Bitcoin ETFs in a single session proves that conviction is climbing. Because Pepeto’s https://pepetoswap.com presale crossed $9 million while the spotlight stayed on BTC, the wallets loading into the entry are betting on a Binance listing that could outperform everything the conference discusses.

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Cryptocurrency News: Consensus Miami Opens as CLARITY Act Advances

Consensus Miami 2026 began this week at the Miami Beach Convention Center with more than 20,000 attendees from across crypto, finance and regulation according to Yahoo Finance. The event lands as Bitcoin holds above $80,500 and the CLARITY Act stablecoin yield text cleared its final Senate compromise according to CoinDesk. The agenda covers institutional adoption, tokenization and exchange oversight, and the cryptocurrency news from this week could shape the second half of 2026 for altcoins and presales.

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Where Pepeto, PEPE and Chainlink Stand in May’s Crypto Rotation

Pepeto

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While Consensus Miami debates the future of regulation and PEPE and Chainlink wait for catalysts, Pepeto’s https://pepetoswap.com coming Binance listing sits at the center of the cryptocurrency news that most traders have not noticed yet. The data supports the attention: more than $9 million flowed into the presale at $0.0000001864 while the broader market dropped, a community of early believers doubled down during that drawdown, and traders expect returns between 100x and 300x once the marketplace opens for live trading. Every fact in that sequence points to one thing: this is where the real money is moving.

Because PepetoSwap runs zero fee trades across every token on the marketplace, small positions hold their value instead of getting chipped away by costs. The risk scorer reviews every contract before any token enters a wallet, so buyers filter out bad projects before they cost a cent. Every line of code behind the Pepeto marketplace cleared a SolidProof audit, and staking at 175% APY pays holders while they wait for the event that changes everything.

For traders tired of cryptocurrency news that moves prices without creating new entries, those tools turn headlines into action. The presale ends once the listing hits, and with traders targeting 100x to 300x from the current entry, the upside from Pepeto overshadows what PEPE or LINK can generate from their current levels.

https://youtu.be/wR3oOlNJj64?si=V7Ekv4mK69tQvNtI

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PEPE

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PEPE trades at $0.0000040 according to CoinMarketCap, sitting just above its 100 day EMA with a 7% gain over the past day. The token needs to clear $0.0000050 to confirm a fresh rally, but even a run to the 200 day average delivers limited gains compared to what a presale entry can multiply into after a single listing event.

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Chainlink

Chainlink holds at $9,47 according to CoinMarketCap, supported by its role connecting real world data to smart contracts. LINK gained ground in April but still trades well below its 2021 high of $52, and even a push to $15 from here delivers a 63% return over months, which the cryptocurrency news cycle barely registers when presale entries multiply faster from a single event.

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Conclusion

The cryptocurrency news this week stacks Consensus Miami, CLARITY Act progress, and a BTC rally past $80,500, but none of those headlines include the presale that quietly built the strongest case in the market. PEPE and Chainlink will ride the wave, but for returns that change a wallet, the debate about which entry leads was settled by the $9 million that already flowed in. Pepeto arrives with a full marketplace, risk scoring tools, and a cofounder whose first project at zero products reached a market cap most tokens dream about, which means more tools logically reaches more. The cryptocurrency news confirms the setup, and entering the Pepeto official website now turns that into a position before the listing draws the line between wallets that acted and everyone who reads about it after.

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Click To Visit Pepeto Website To Enter The Presale: https://pepetoswap.com

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FAQs

What does Consensus Miami mean for crypto?

The event brings 20,000 leaders together during a BTC rally, and cryptocurrency news from this week could shape regulation for the rest of 2026.

How does the CLARITY Act affect traders?

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The stablecoin yield compromise clears a path for regulated returns, boosting confidence and adding stability for presale entries.

Why are wallets loading into Pepeto right now?

More than $9 million entered during fear, the marketplace runs with zero fees, and the Pepeto official website shows a Binance listing approaching.

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Disclaimer:

The information shared in this article is for informational use only and does not constitute financial advice. Cryptocurrency investments are subject to extreme volatility and carry significant risk, including the loss of principal. Always conduct your own research or consult a licensed financial advisor before investing.

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Contact: Dani Bonocci

Website: https://www.tokenwire.io

Phone: +971586738991

SOURCE: Pepeto

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This release was published on openPR.

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DTCC Tokenization Draws 50+ Firms for Live Securities Testing

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DTCC Tokenization Draws 50+ Firms for Live Securities Testing

Key Takeaways:

  • DTCC plans July live trades before an October rollout for tokenized securities markets.
  • Participation includes over 50 firms across banking, custody, trading, and digital asset sectors.
  • DTC supports the effort with over $114 trillion in assets held across its custody system.

DTCC Tokenization Service Moves Toward Live Production

The Depository Trust & Clearing Corporation (DTCC), a leading American financial market infrastructure company, announced on May 4, 2026, that its tokenization service will move into limited live production trades in July before a planned October launch. The schedule gives banks, asset managers, brokers, exchanges, and digital asset firms a defined path to test tokenized securities through DTC’s infrastructure.

DTCC is building the service with input from more than 50 firms across traditional finance and digital asset markets. The effort is focused on real-world assets already custodied by The Depository Trust Company (DTC), rather than assets created outside existing market plumbing. Tokenized versions are expected to carry the same entitlements, investor protections, and ownership rights as securities held in traditional form. The first eligible assets fall within a defined liquid universe, including Russell 1000 constituents, major index-tracking exchange-traded fund (ETF) products, and U.S. Treasury bills, bonds, and notes. Frank La Salla, DTCC President and CEO, said:

“Our vision is coming to fruition: launching our tokenization service and successfully bridging TradFi and DeFi. We believe tokenization will significantly change how markets work and operate, bringing new levels of liquidity, transparency and efficiency to investors.”

Institutional Working Group Tests Market Infrastructure

DTC’s custody base gives the project its institutional scale, with more than $114 trillion in assets held across the depository. DTCC said the service is being developed to support production workflows and allow tokenized assets to operate across multiple chains. The work includes proving technical and operational processes before wider release. Regulatory clearance also frames the rollout. In December 2025, the U.S. Securities and Exchange Commission (SEC) issued a No-Action Letter allowing DTC to provide a defined tokenization service to DTC Participants and their clients for three years.

The working group’s roster shows how broadly the project reaches across market infrastructure, trading, custody, asset management, and crypto services. Participants in the DTCC Industry Working Group include Alpaca, Anchorage Digital, Apex Clearing Corporation, Backpack, Bank of America, BetaNXT, Bitgo Bank & Trust, N.A., Bitwave, Blackrock, BNP Paribas, Broadridge, Charles Schwab, Circle, Citadel Securities, Citi, Digital Asset, DriveWealth, DRW, EDX Markets LLC, Fireblocks, FIS, Fi-Tek, Franklin Templeton, Goldman Sachs, Hilltop Securities Inc., HSBC, Interchange Clearing, Invesco, Jefferies, J.P. Morgan, Lloyds Bank, Marex, Mirae Asset Securities (USA) Inc., Morgan Stanley, Nasdaq, NYSE Group, Inc., Ondo Finance, Payward, Principal Bank, Raymond James, RBC, Ripple Prime, Robinhood Markets, Inc., RQD*Clearing LLC, SEI, State Street, StoneX, Talos, TD Securities USA LLC, Tel-Aviv Stock Exchange, Tradestation Securities, Inc., Tradeweb, UBS, Velocity Clearing, LLC, Virtu Financial, Vision Financial Markets, and Wells Fargo.

The planned launch extends DTCC’s role from post-trade processing into tokenized market infrastructure, while keeping custody, rights, and controls tied to established systems. The phased schedule gives participating firms time to test interoperability, operational readiness, and market workflows before October. Brian Steele, DTCC Managing Director, President, Clearing & Securities Services, said:

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“DTC’s tokenization service is designed to provide systemic scale where deep liquidity already lives.”

For DTCC, the initiative brings tokenization closer to live securities markets through a controlled, institution-led rollout.

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Bitcoin, XRP Flat, While Ethereum, Dogecoin Spike After Trump’s ‘Project Freedom’ Announcement: Why This

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Bitcoin, XRP Flat, While Ethereum, Dogecoin Spike After Trump’s ‘Project Freedom’ Announcement: Why This

Cryptocurrency markets held steady as stock futures jumped Sunday, driven by fresh developments in the U.S.–Iran conflict following President Donald Trump’s “Project Freedom” announcement.