#NasdaqETFUpdate VM🚀 Nasdaq ETF Update: Key Developments & Market Impact

⚡ Breaking News & Context

The resolution of the Binance legal saga (CEO resignation + $4.3B settlement) has unexpectedly accelerated optimism for a Spot Bitcoin ETF approval. Regulatory clarity from this case is pressuring the SEC to advance long-pending ETF applications, with a critical rebuttal deadline set for November 8. Bitcoin surged past $38,000 (+2.27% in 24hrs) on this sentiment .

📈 Top ETF Applicants to Watch

1. BlackRock (BLK):

World’s largest asset manager; applied in June 2023.

Status: Zacks Rank #3 (Hold); 3.1% earnings growth projected .

2. Invesco (IVZ):

Re-filed in June 2023 after withdrawing in 2021.

Status: Zacks Rank #4 (Sell); projected 12.6% growth in 2024 .

3. Franklin Resources (BEN):

Applied in September 2023.

Status: Zacks Rank #4; 15.9% growth projected for 2024 .

4. Fidelity Investments:

Filed in late June 2023; awaiting SEC decision .

💡 Why This Matters

Regulatory Shift: Binance’s settlement signals increased SEC oversight, reducing a key barrier to ETF approval.

Market Momentum: Bitcoin’s rally reflects institutional confidence in imminent ETF greenlights.

Investor Access: Approval would enable traditional investors to gain BTC exposure via regulated stock markets .