The largest Bitcoin futures ETF in Hong Kong has increased its asset management scale fivefold in the past five months, reaching over $100 million, due to local investors chasing the rise of the world's most well-known cryptocurrency. Hong Kong approved the first three cryptocurrency futures ETFs by the end of 2022. CSOP Asset Management, which manages the CSOP Bitcoin Futures ETF (3066.HK), stated that demand increased significantly in February.

Cryptocurrency exchange Gemini announced it will become the custodian for the 7RCC Bitcoin and Carbon Credit Futures ETF. Gemini stated that the fund provides investors with opportunities for diversified investment portfolios and supporting 7RCC as the custodian for the fund is an important development for their platform.

The SEC has postponed its decision on whether to approve or reject proposals for two bitcoin ETFs, the Franklin Bitcoin ETF and the Hashdex Bitcoin Futures ETF. Bloomberg ETF Analyst James Seyffart has suggested that the SEC may be preparing to approve a batch of bitcoin ETFs in early January by delaying decisions until now. The SEC has requested public comments on issues such as the potential for manipulation of the funds and underlying bitcoin markets. The final decision on whether to approve or reject the proposed rule change will be made by January 1, 2024, and interested parties have 21 days to submit initial comments to the SEC.

Despite the approval of a Bitcoin spot ETF, the Chicago Mercantile Exchange (CME) is still expected to remain the top choice for traditional finance investors. The CME has seen a significant increase in Bitcoin futures trading over the past year, surpassing even Binance. While the launch of a spot ETF may bring institutional money into the sector, it is unlikely to reduce activity in the futures market. In fact, futures trading is expected to expand alongside the growth of spot ETFs, as institutional investors will likely use futures to hedge their positions. The futures market also benefits from clearer regulation compared to the regulatory ambiguity surrounding the crypto spot market.

SEC has delayed making a decision on Hashdex's application to convert its DEFI from a Bitcoin futures ETF to an ETF that holds both futures and spot.

The first Bitcoin exchange-traded fund (ETF), BITO, has recorded its highest weekly trading volume since its launch, with $1.7 billion in trading volume. The Grayscale Bitcoin Trust (GBTC) also saw $800 million in trading volume. The high volume suggests a strong appetite for Bitcoin ETFs, which could attract marquee investors like hedge funds and large financial institutions. However, senior Bloomberg ETF analyst Eric Balchunas believes that BlackRock's spot market Bitcoin ETF may not set a record when approved, as multiple ETFs will likely be launched simultaneously, spreading out volume between them.