Day: December 29, 2023

VanEck files updated spot Bitcoin ETF application

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The asset manager submitted an amended S-1 Form with the SEC on deadline day, switching to cash-only subscriptions like most issuers seeking spot Bitcoin ETF approval.   VanEck’s update did not name the authorized participants for its VanEck Bitcoin Trust, an exchange-traded fund aiming to invest in the largest cryptocurrency by market cap at its spot price. Several other issuers like BlackRock have filed amended prospectus briefs to the cash-only edict stressed by the U.S. Securities and Exchange Commission (SEC). However, these updates have not disclosed APs who are effectively underwriters…

Coinbase appoints new head of custody amid Bitcoin ETF preparations

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Coinbase has changed its head of custody, potentially as a strategic decision for handling services related to spot Bitcoin ETFs. The departure of Aaron Schnarch, the former Chief Executive Officer of Coinbase Custody, marks a pivotal shift in the company’s leadership. Schnarch’s position has been filled by Rick Schonberg, who joined Coinbase in 2021 and brings experience from previous stints at Goldman Sachs, State Street, and Tagomi. Breaking: After @Grayscale shuffles their team before the ETF approvals, @Coinbase follows suit with Rick Schonberg replacing Aaron Schnarch at Coinbase Custody. Aaron…

Want To Predict Bitcoin Tops And Bottoms? ‘The Rainbow Chart’ Is For You

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The Bitcoin Rainbow Chart has emerged as a universally used analytics tool that helps crypto investors and traders predict BTC’s ever-changing market trends and cycles.  Bitcoin Rainbow Chart BTC Analysis Throughout the year, the price of Bitcoin has experienced several uptrends and downsides. Starting from the last three months of 2023, BTC’S price has experienced a major surge, hitting above $35,000 in October and surging past $44,000 in December.  With the market moving up rapidly, many crypto investors and market watchers look for various crypto analytics tools to enhance their…

Polygon, Chainlink post losses as these altcoins’ momentum grows

Prices are lower, with Polygon and Chainlink down 4.24% and 6.29%, respectively. Currently, Polygon is trading at $0.98 and Chainlink at $15.79. However, some coins have continued to push ahead. Over the last 24 hours, Bitcoin Minetrix, Kaspa, and Bonk are among the top crypto projects gathering momentum. Traders are bullish despite correction With the apparent macro trajectory now bullish, traders believe Polygon and Chainlink’s retracements will be swiftly corrected in the coming days. In a recent tweet, analyst Michael van de Poppe suggested that Polygon will likely push to…

Cryptocurrency option trading soars as January ETF expectations escalate

There’s been a noticeable uptick in trading cryptocurrency options and futures since Christmas, primarily driven by traditional financial institutions.  This increase is largely in anticipation of a key decision by U.S. regulatory authorities regarding the approval or disapproval of exchange-traded funds (ETFs) focused on direct investments in Bitcoin. As reported by Bloomberg, recent data indicates that Bitcoin options trading has reached unprecedented levels. Deribit, a leading platform in the crypto-options sphere, is on the brink of experiencing its largest quarterly expiry of options this Friday. The expiring options, valued at…

Shibarium’s Activity Surge: Wallet Growth And Elevated SHIB Burn Rate

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Shibarium, the Layer-2 blockchain linked to the widely recognized meme coin Shiba Inu, is making notable strides. Recent data indicates a significant uptick in user engagement, marked by a substantial increase in both transactions and wallet growth. The Shibariumscan explorer reveals that daily transaction volume on Shibarium has reached roughly 7.84 million, reflecting a steady climb since the beginning of the month. Total number of transactions on Shibarium Blockchain. | Source: Shibariumscan This uptrend in activity has propelled the total transactions on the platform to 212 million, accompanied by the…

Coinbase (COIN), Marathon (MARA), Riot Drop Near 10% as Bitcoin Price Dips to $42K

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BTC price accidentally soared to $420k on Binance

The price of Bitcoin (BTC) paired with the stablecoin Tether (USDT) on Binance suddenly increased almost tenfold. According to Chinese journalist Colin Wu, the price of the BTC/USDT perpetual contract on the largest cryptocurrency exchange Binance jumped from $42,000 to $420,000 on Dec. 29. The price of Binance BTC/USDT Perpetual Contract suddenly rose from around $42,000 to $420,000 multiple times today. Binance had previously experienced a similar problem in September. CZ said that there was a problem with the chart display. https://t.co/4XoqrhiOsZ pic.twitter.com/L8xz8VgZCG — Wu Blockchain (@WuBlockchain) December 29, 2023…

ARK Invest Pivots To Bitcoin As Cathie Wood Expects BTC Price To Explode

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CEO of ARK Invest, Cathie Wood has shared her perspective on the approval timeline for Spot Bitcoin ETFs. She has also highlighted the significant impact the official authorization of Bitcoin ETFs would have on the price of BTC. BTC Price Boom Predicted Following ETF Acceptance Founder and CEO of American asset investment management firm, ARK Invest, Catherine Duddy Wood has recently appeared in an interview with Yahoo Finance. The live interview which was published via YouTube centers on Wood’s views and opinions regarding the potential approval of Spot Bitcoin ETFs…