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Several firms are vying for the approval of their proposed spot Bitcoin BTC/USD exchange-traded funds (ETFs), hoping to capture a significant market share.

What Happened: Switzerlands Pando Asset AG on Wednesday emerged as the 13th contender by submitting a filing to the Securities and Exchange Commission (SEC) for the Pando Asset Spot Bitcoin Trust.

Among the total 13 applications, two major players, Grayscale Bitcoin Trust GBTC and Blackrock Inc. BLK , have revised their filings just to secure a BTC ETF spot.

Analysts predict that the SEC is on the cusp of approving several spot Bitcoin ETFs. The first to cross the finish line could enjoy a significant first-mover advantage, attracting a large base of retail investors.

Since both BlackRock and Grayscale Bitcoin Trust submitted their applications for a spot Bitcoin ETF, their stock prices have experienced an upswing. We compare which of the two stocks has delivered the best returns over the past year.

BlackRocks stock increased from $695.78 to $747.3, marking a 7.4% growth. On the other hand, GBTC saw a 242.74% surge from $9.05 to $31.02. BLK Or GBTC: 1-Year Performance (Image: Benzinga)

If you had invested $1000 in either of the stocks, you would have yielded $1074.04 in BLK and $3427.4 in GBTC. BLK Or GBTC: Which Offers Better Returns? (Image: Benzinga)

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

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A Closer Look at Market Movements

When analyzing their market behavior, the coefficient of determination (R^2) stands at a low 0.023, suggesting a very weak correlation between BLK and GBTCs market movements, as evidenced by a linear regression analysis. Do BLK And GBTC Often Move Together? (Image: Benzinga)

Price Action: At the time of writing, BTC was trading at $37,731, down 1% in the last 24 hours, according to Benzinga Pro. On Wednesday, GBTC finished trading at $31.02, while BLK closed at $747.30.

Illustration by CryptoFX on Shutterstock

Read Next: Heres How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?Loading… Loading… Loading…

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Indiana topples No. 3 Oregon to stay unbeaten

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Indiana topples No. 3 Oregon to stay unbeaten

EUGENE, Ore. — Fernando Mendoza threw for 215 yards and a key fourth-quarter touchdown and No. 7 Indiana remained undefeated with a 30-20 victory over No. 3 Oregon on Saturday.

Roman Hemby added a pair of scoring runs for the Hoosiers (6-0, 3-0 Big Ten), who frustrated the Ducks (5-1, 2-1) with stout defensive play.

The victory was Indiana’s second against an AP top-five opponent in program history. The Hoosiers entered Saturday having lost 46 consecutive games vs. AP top-five opponents, tied with Wake Forest for the longest streak in the AP poll era, according to ESPN Research.

Dante Moore threw for 186 yards and a touchdown for Oregon. He had two interceptions and was sacked six times.

With Oregon down 20-13 going into the fourth quarter, Brandon Finney Jr. intercepted Mendoza’s pass and ran it back 35 yards to tie the game with 12:42 left.

Mendoza answered with an 8-yard scoring pass to Elijah Sarratt with 6:23 to go. On Oregon’s next series, Dante Moore’s pass was intercepted by Louis Moore.

Brendan Franke added a 22-yard field goal for the Hoosiers with 2:06 left.

Both teams were coming off weeks off. In their last game, the Ducks beat Penn State 30-24 in double overtime on the road in the annual White Out game. The Hoosiers beat Iowa 20-15 on the road.

On the first series of the game, the Ducks failed at a fourth-and-1 attempt, giving the Hoosiers good field position for their opening drive. It ended with Nico Radicic‘s 42-yard field goal.

Oregon pulled ahead with Dante Moore’s 44-yard touchdown pass to Malik Benson, but Hemby rushed for a 3-yard touchdown before the end of the first quarter to make it 10-7.

Atticus Sappington‘s 40-yard field goal tied it up for the Ducks, but a later 36-yard attempt that would have given Oregon the lead went wide left.

Franke kicked a 58-yard field goal as time ran out to give Indiana a 13-10 advantage at the break.

Sappington’s 33-yard field goal in the third quarter tied it again for Oregon, but Hemby added his second touchdown for the Hoosiers, a 2-yard dash late in the period.

The Associated Press contributed to this story.

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Allar injured, out for year as PSU loses again

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Allar injured, out for year as PSU loses again

STATE COLLEGE, Pa. — Penn State quarterback Drew Allar, who left the Nittany Lions’ stunning 22-21 loss to Northwestern on Saturday, is out for the season, coach James Franklin said in his postgame media availability.

Allar hobbled off the field after a third-down play in the fourth quarter, and was eventually carted off to the locker room. He was replaced by Ethan Grunkemeyer.

“Drew will be done for the year,” Franklin said.

Penn State (3-3) has now lost three straight games, with two of those coming in Happy Valley. The reeling Nittany Lions will take on Iowa next Saturday.

It’s a different story for the Wildcats. They surged to 4-2 as Caleb Komolafe ran for 72 yards and a touchdown to stun the Beaver Stadium crowd. Preston Stone threw for 163 yards with a touchdown pass to Griffin Wilde, and Jack Olsen kicked three field goals for the Wildcats, who won their third straight and moved to 2-1 in the Big Ten.

The Wildcats, who hadn’t won in Beaver Stadium since 2014, took the lead for good with 4:51 remaining when Komolafe bulled his way through Penn State’s defense to cap a 75-yard drive.

The Nittany Lions, who fell to 0-3 in the league, got the ball back, but that’s when Allar suffered his injury. Grunkemeyer was immediately stopped on a fourth-down run, and the Wildcats ran the clock out from there.

“It’s 100 percent on me,” Franklin said of the loss. “And we got to get it fixed. And I will get it fixed.”

Allar, Nicholas Singleton and Kaytron Allen ran for touchdowns for the Nittany Lions. It was the fifth time a Franklin-coached Penn State team has lost at least three consecutive games in a season.

The Nittany Lions, who committed six penalties for 71 yards in the first half, could never get out of their way. Meanwhile, the Wildcats played steady, almost mistake-free football in front of a flat Penn State crowd that chanted “Fire James Franklin!” early.

Allar was intercepted on Penn State’s opening drive when he threw the ball right to defensive back Ore Adeyi in the end zone. Adeyi returned it to the Northwestern 33, and the Wildcats turned it into three points 12 plays later with Jack Olsen’s 27-yard field goal with 2:51 left in the first quarter.

The Nittany Lions finally got their offense moving with Allen. He carried five times on Penn State’s next possession and gave his team a 7-3 lead when he muscled in from 11 yards out early in the second.

Northwestern marched into Penn State’s territory on its next possession, and Stone found a wide-open Wilde for a go-ahead 28-yard touchdown pass.

The Wildcats appeared to get a stop on defense but fumbled away the ensuing punt. The Nittany Lions needed nine plays from Northwestern’s 26 but finally broke through on a fourth-and-goal when Singleton slashed around the Wildcats’ left flank for a 2-yard touchdown.

Olsen made a 34-yarder with three seconds left to cut Penn State’s lead to 14-13 at halftime.

The Associated Press contributed to this report.

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Manning powers Texas to upset win over No. 6 OU

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Manning powers Texas to upset win over No. 6 OU

DALLAS — Ryan Niblett returned a punt 75 yards for a decisive touchdown in the fourth quarter and Texas got a much-needed 23-6 win over sixth-ranked Oklahoma in their annual Red River Rivalry game on Saturday.

Arch Manning completed 21 of 27 passes for 166 yards and the go-ahead 12-yard TD to DeAndre Moore Jr. on the opening drive of the second half for the Longhorns (4-2, 1-1 Southeastern Conference), who were coming off a loss at Florida that knocked the preseason No. 1 team out of the AP Top 25.

Texas retained the Golden Hat trophy and should get back into the next poll on Sunday. More importantly, the Longhorns avoided a loss that likely would have ended any realistic chance of getting into the College Football Playoff for the third year in a row.

John Mateer was 20-of-38 passing with three interceptions in his return to the lineup for Oklahoma (5-1, 1-1) only 17 days after surgery on his throwing (right) hand.

Niblett worked up the sideline in front of the Texas bench, and after making a cut inside near midfield bounced off a teammate and continued his sprint to the end zone for a 20-6 lead with 9:59 left.

When the Sooners gained 38 yards on three plays to the Texas 27 on the ensuing drive, Mateer had an incompletion before being sacked on consecutive plays and then had another incompletion on fourth-and-22. They finished with only 258 total yards.

Mason Shipley kicked field goals of 22, 48 and 39 yards for the Longhorns. He had two long misses, the first a 55-yard attempt that ricocheted off the right upright, and was later short on a 56-yard attempt.

Tate Sandell kicked a 42-yard field goal on the game’s opening drive for the Sooners. He made it 6-0 with a 41-yarder in the second quarter, but they didn’t score again.

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