- Bitcoin ETF Applicants File S-1 Documents As Euphoric Market Pours into Pullix Presale
- JPMorgan, Jane Street Names Brokers for Bitcoin ETF S-1 Filing
- Pullix presales attracted more than $2 million within weeks of launch.
The countdown to the first Bitcoin exchange-traded fund (ETF) approved for the U.S. market is just a few days away. This comes after BlackRock, Valkyrie, Fidelity and several other applicants filed their final S-1 amendments on the Friday, December 29 deadline.
Elsewhere in the market, market optimism about cryptocurrencies heading into 2024 spilled over into the pre-sale of new hybrid exchange Pullix.
JPMorgan Selects Jane Street as AP on Final Bitcoin ETF Document
The proper countdown to the SEC’s approval of a spot Bitcoin ETF has been underway for months. For most analysts, Grayscale’s legal victory over regulators marked a turning point. There is now a consensus that the SEC will approve the first spot Bitcoin ETF in early January, probably around January 10th.
Yesterday, that countdown appeared to be accelerating as most companies looking to offer spot Bitcoin ETFs filed their final amendments.
BlackRock, Van Eck, ARK 21 Shares, Invesco Galaxy, Valkyrie, Fidelity, Bitwise and WisdomTree all joined on Friday. Among the details that stood out in the documents were the names of approved participants (APs) and their fees.
For example, BlackRock and Valkyrie filed updated S-1 filings naming JPMorgan and Jane Street as authorized participants. Valkyrie said it would work with Jane Street and Cantor, while Invesco Galaxy said it would work with Virtu and JPMorgan.
While JPMorgan’s AP selection garners attention due to CEO Jamie Dimon’s public comments, Jane Street’s likely role adds to the overall appeal of the institution.
On the fees side, Invesco’s filing shows a six-month fee waiver for ETFs with up to $5 billion in assets.
Meanwhile, Fidelity has set a fee of 0.39%. According to Eric Balchunas, senior ETF analyst, fierce competition among issuers is likely, leading to some kind of “price war.”
Yes, I said that once the starting guns go off, a fee war will break out. And it will never end. This is normal life in the ETF Terrordome, but the cryptocurrency exchange mind cannot understand this. https://t.co/5Am76DHZAi
— Eric Balchunas (@EricBalchunas) December 29, 2023
Pullix expects to play a leading role in DeFi through its hybrid exchange.
Pullix, which seeks to bring the advantages of centralized and decentralized exchanges to the cryptocurrency market, is a hybrid exchange built on the Ethereum blockchain.
With community spirit and security as its core pillars (the latter embedded through self-management of users’ digital assets), Pullix is likely to emerge as a solution to the DeFi industry’s biggest problem: liquidity.
Pullix’s integrated platform combines the appeal of a user-friendly and secure trading environment with an innovative approach to providing liquidity. Anyone using the platform can earn immediate rewards in native PLX tokens by contributing to liquidity when trading.
Additionally, the community will be rewarded in $PLX for adding ecosystem liquidity through staking and yield farming. In addition to this, daily profit sharing, competitive pricing, commission-free trading and tight spreads offer $PLX holders an impressive list of benefits and incentives.
Users looking for a great platform for the above, among other passive income opportunities, may want to learn more about Pullix’s unique “Trade-to-Earn” feature.
PLX token sale reaches $2 million
Amid the excitement and positivity surrounding the SEC’s possible approval of the first Bitcoin ETF, Pullix’s new cryptocurrency project is making waves of its own. Hybrid exchange model, community-driven ecosystem, and powerful tokenomics highlight why Pullix is poised to redefine DeFi.
The $PLX token sale attracted over $2 million as it heads towards launch and potential dominance in the DeFi space.
Currently in Phase 5, $PLX has increased in value from its initial pre-sale price of $0.04 to $0.07. If you want to get it cheap, a pre-sale may be your best opportunity.