[Bitcoin Now] Spot ETF Listing Fails, Drops to $30,000... Investor Sentiment Is 'Greed'

The price of Bitcoin, which had risen to the $31,000 range, fell back to the $30,000 range after the asset management company's plan to list a Bitcoin spot exchange-traded fund (ETF) was canceled.

Image source=Reuters·Yonhap News

According to CoinMarketCap, a global virtual asset market tracking site, as of 1:26 PM on the 2nd, the price of Bitcoin was recorded at $30,522 (approximately 40.26 million KRW), up 0.56% from the previous day.

Earlier, the price of Bitcoin rose following news that the global asset management firm BlackRock would launch a Bitcoin spot ETF. Other asset management companies such as Fidelity, WisdomTree, and Bitwise also showed movements by applying for ETF listings or modifying previously submitted applications. As a result, the price of Bitcoin rose to the $31,100 range on the 30th of last month.

However, when the U.S. Securities and Exchange Commission (SEC) notified Nasdaq and the Chicago Board Options Exchange (CBOE) that it would not approve the Bitcoin spot ETF listing applications, the price dropped to the $29,000 range. The SEC reportedly cited insufficient clarity and explanations in the Bitcoin spot ETF listing applications submitted by asset management companies as the reason. Additionally, the SEC is said to have described the recent surge in Bitcoin spot ETF listing applications as "inappropriate."

However, CBOE announced plans to supplement and resubmit its Bitcoin spot ETF listing application, which helped the price recover to the $30,000 range.

Meanwhile, investor sentiment in virtual assets showed a level of greed. According to Alternative, a virtual asset data provider, the Fear & Greed Index, which expresses investor sentiment as an index, rose 4 points from the previous day to 63 points (greed). Compared to 64 points (greed) a week ago, it fell by 1 point. Alternative's Fear & Greed Index means that a score closer to 0 indicates extreme fear and pessimism about investment, while a score near 100 indicates optimism.