Day: January 11, 2024

Commissioner Peirce Slams SEC’s ‘Moving Goalposts’ in Bitcoin ETP Approval

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As the Securities and Exchange Commission (SEC) approves several Bitcoin spot exchange-traded products (ETPs) one commissioner comments on the unnecessary debacle. In a blog post hosted on the SEC’s newsroom, SEC Commissioner Hester Peirce said the approval comes more than 10 years after the first application was filed for a Bitcoin (BTC) ETP — including Bitcoin exchange-traded funds (ETFs). She suggested the SEC finally relented due to a recent court ruling that criticized the rationale for rejecting a Bitcoin ETP proposal last year. Peirce wrote that the SEC’s past refusals…

First ETF Trading Day Could Blast Bitcoin Price Past $50,000

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The crypto space witnessed a historic moment yesterday with the approval of 11 spot Bitcoin Exchange-Traded Funds (ETFs), a development that’s been eagerly anticipated since the Winklevoss twins filed for the first proposed Bitcoin ETF back on July 1, 2013. This pivotal event coincides with the 15th anniversary of Hal Finney’s tweet “Running Bitcoin,” marking a symbolic milestone in the digital currency’s journey. Despite the monumental approval by the US Securities and Exchange Commission (SEC), Bitcoin’s price reaction was muted, maintaining stability around the $46,000 mark. This suggests that the…

Bitcoin (BTC) ETF Approval Marks Conclusion of a Decade-Long Journey

“Bitcoin itself is not even a developed market, let alone to build an ETF on top of it,” said Reginald Browne, managing director at KCG Holdings, at the time. “There has to be some investment merit to bring an ETF to the marketplace, and without that, it is not going to be successful. Investors won’t expand it; market-makers can’t trade it.” Source

Robinhood to add support for spot Bitcoin ETFs ‘as soon as possible’

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Online fintech brokerage firm Robinhood is about to join the Bitcoin ETF craze, saying the ETF approval is a key factor in advancing the integration of crypto with traditional finance. Robinhood CEO Vlad Tenev announced the company’s plans in a thread on X on Jan. 11, stating the broker aims to list all approved spot Bitcoin exchange-traded funds “as soon as possible.” Exciting update from Washington today! As a pioneer in offering spot crypto trading, Robinhood is thrilled about the @SECGov‘s decision to approve spot Bitcoin ETFs. We’ve been ahead…

Meme Coin Trader Buys $9M of Dogwifhat (WIF) and Then Loses Over 60% to Slippage

But placing such big a trade order on a relatively low-liquidity pool seems to have spelled financial disaster: The buyer ended up purchasing WIF at as high as $3 as prices spiked immediately, in line with how decentralized exchanges work, before prices plunged back down to 15 cents, close to the level before the buys, leaving the trader with a slippage loss of over $5.7 million. Source

Spot Bitcoin ETF set for launch; Solana and Rebel Satoshi attract investors

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The crypto world is abuzz with anticipation as the Securities and Exchange Commission (SEC) gears up to make a significant ruling on 14 money managers’ applications to launch their spot Bitcoin exchange-traded funds (ETFs).  This potential green light could mark a watershed moment for Bitcoin, bringing it closer to becoming a staple in everyday investment portfolios. Wall Street titans and crypto pioneers unite Among the applicants are financial behemoths…

Hong Kong lawmaker advocates for swift adoption of spot Bitcoin ETFs following US lead

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A Hong Kong legislator has called on the government to swiftly emulate the U.S., which approved spot bitcoin exchange-traded funds on Jan. 10. In a Jan. 11 X post, Hong Kong Legislative Council member Johnny Ng urged the city to foster innovation in the cryptocurrency space, emphasizing the region’s readiness to lead in Asia by implementing relevant policies and products. 美國證券交易委員會SEC在香港時間凌晨通過現貨比特幣ETF。此舉對虛擬資產市場是一個重要的舉動，也吸引更多傳統投資者和資金參與虛擬資產領域投資。經過這次SEC通過現貨比特幣ETF，我認為香港也要在虛擬資產領域敢於做「領頭羊」，通過創新政策來帶領整個行業發展。 1. 特區政府盡快推動現貨ETF的落實… pic.twitter.com/5b0fhHFQHh — Johnny Ng 吴杰庄 (@Johnny_nkc) January 11, 2024 Ng cited the Securities and Futures Commission’s (SFC) prior willingness to consider applications for spot bitcoin ETFs as…

Solana dumps below $90 as investors accumulate presale coin

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. In the past week, Solana (SOL) fell 11% to as low as $85 before recovering towards $100. With top altcoins under pressure, investors have been turning to alternatives like Galaxy Fox (GFOX), whose presale has raised over $2.5 million. Galaxy Fox presale status The Galaxy Fox presale has raised over $2.5 million.  The project offers a web3 game, NFTs, a marketplace, a staking platform, merchandise, and a token burn feature. The…