Day: January 26, 2022

Valkyrie Files for ETF That Invests in Firms That Derive 50% Revenue From Bitcoin Mining Industry – Bitcoin News

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The digital currency asset manager Valkyrie has applied for an exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The fund plans invest at least 80% of its net assets into firms that derive at least 50% of their revenue from the bitcoin mining industry. Valkyrie’s Proposed ETF Targets the Bitcoin Mining Industry The crypto asset manager Valkyrie has applied for a new crypto-focused ETF that focuses on the bitcoin mining sector. Valkyrie is well known for launching the second bitcoin futures ETF under the ticker “BTF,” after…

Bitcoin Rally Fades After Fed Signals Upcoming Rate Hike

“Short-positioned traders are dominating the derivative market. This indicates that bitcoin’s bounce was driven by [the spot market] rather than derivatives, which is confluent with the significant bidding seen on Coinbase,” Marcus Sotiriou, analyst at the UK-based digital asset broker GlobalBlock, wrote in an email to CoinDesk. Source

El Salvador’s Battle With the IMF Is Bigger Than Bitcoin

When Nayib Bukele announced that El Salvador would be making bitcoin legal tender, the international monetary establishment acted with some amount of skepticism. When he announced the nation would be issuing bitcoin bonds, that skepticism turned to anger. Now, the IMF is pushing El Salvador to ditch BTC as legal tender altogether. On today’s episode, NLW explores what’s really going on. Source

Polygon (MATIC) sees a strong oversold bounce after $250B crypto market rebound

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Polygon (MATIC) emerged as one of the best performers among high-ranking cryptocurrencies on Jan. 26 as the price rose nearly 17% to reach an intraday high at $1.825. The gains surfaced amid a synchronous rebound across the crypto market that started on Jan. 24. In detail, investors and traders poured in over $250 billion across digital assets, benefiting Bitcoin (BTC), Ether (ETH) and many others in the process. Performance of the top-fifteen cryptocurrencies in the last 15 days. Source: TradingView Polygon, a secondary scaling solution for the Ethereum blockchain, also cashed in on…

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Anthony Scaramucci Urges Bitcoin Holders To Think Long-Term As Downtrend Won’t Last

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The bitcoin downtrend has no doubt rocked investors to their core. This is evidenced by the decline of the Fear & Greed Index into the extreme fear territory, reaching as low as 11 on the scale. Investors, understandably, are wary of the market and what the next few weeks, and by extension, months, may hold for them. If this is the beginning of a bear market, then there could be another two-year wait to the next bull rally. Anthony Scaramucci has however urged bitcoin investors not to despair during this…

SEC pushes decision on ARK 21Shares Bitcoin ETF to April 3

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The U.S. Securities and Exchange Commission has extended its window to approve the ARK 21Shares Bitcoin exchange-traded fund (ETF) originally proposed in July 2021. According to a Tuesday filing from the SEC, the regulatory body will push the deadline for approving or disapproving the ARK 21Shares Bitcoin ETF from Feb. 2 for an additional 60 days, to April 3. SEC Assistant Secretary J. Matthew DeLesDernier noted in the filing that it was “appropriate to designate a longer period” for the regulatory body to consider the proposed rule change, allowing the…