Day: January 16, 2024

Cantor CEO Makes Gold And Bitcoin ETFs Comparison, Foresees True Rally With Halving

boss

In a highly anticipated development, the United States Securities and Exchange Commission (SEC) granted regulatory approval for 11 spot Bitcoin ETFs, sparking excitement within the crypto community.  However, despite initial expectations of a significant price surge, the Bitcoin market has experienced an 8% price drop since the ETFs began trading. Bitcoin ETFs To Unfold Impact Over Time?  Drawing a comparison with the launch of the first Gold ETF, Cantor Fitzgerald Asset Management CEO, Howard Lutnick, noted that the immediate rush to buy the asset did not materialize. Lutnick remarks that…

Grayscale Bitcoin ETF sees $579m in daily net outflows

boss

According to reports from Bloomberg Intelligence, Grayscale’s Bitcoin ETF has experienced significant withdrawals, amounting to approximately $579 million.  The magnitude of this withdrawal is notable in the context of the broader market for Bitcoin ETFs. Contrastingly, other spot Bitcoin ETFs have attracted nearly $819 million in investments. This stark divergence in investor behavior underscores a critical assessment of the Grayscale Bitcoin ETF’s performance post-SEC approval. Initial enthusiasm, marked by a trading volume of over $2.3 billion on the ETF’s inaugural day, has cooled, with these outflows suggesting a shift in…

Crypto Community Raises Alarm Over Coinbase’s Dominance Of Bitcoin Held In Spot ETFs

boss

Coinbase, the largest cryptocurrency exchange in the United States, is presently serving as the custodian of the majority of the Spot Bitcoin ETFs managed by various asset management companies in the industry. This notable concentration is raising worries in the crypto community about significant centralization and potential risks associated with the custodianship.  Coinbase Dominate ETFs As Major Custodian Coinbase’s significant role in the advancement of Spot Bitcoin ETFs has become a target of scrutiny in the crypto community. The American crypto exchange is currently the custodian of 9 out of…

Cantor Fitzgerald’s Howard Lutnick Addresses Questions Around Tether’s Stablecoin Assets: ‘They Have the Money’

When asked about a more prominent topic in crypto news currently – the approval and listing of over a dozen spot bitcoin exchange-traded funds (ETFs) – Lutnick questioned the real value of bitcoin and stablecoins for Americans and argued that crypto currencies are attractive as speculative assets in this country, whereas people in other nations, such as Argentina, Venezuela and Turkey, hold crypto for more substantial reasons. Source BitcoincryptoexchangeExchanges CryptoX Portal

Bitcoin (BTC), Stablecoins and CBDCs Could Erode and Reinforce U.S. Dollar Dominance: Morgan Stanley

boss

The dominance of the U.S. dollar as the linchpin of the international financial system is being increasingly questioned due to shifting geopolitical currents and the country’s growing twin deficits, Wall Street giant Morgan Stanley (MS) said in a report last week. Enter cryptocurrencies, which, while still in their early stages, have the potential to both erode and reinforce the dollar’s dominance in global finance, the bank said. “The recent growth in interest of digital assets such as bitcoin (BTC), growth of stablecoin volumes and the promise of central bank digital…

Solana drops 7% after rally, what’s next for SOL?

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Solana has experienced bearish momentum this week as it retraces by 7%. But the move has sparked fears of further downside after breaking below $100.  Will SOL recover to continue its rally, or are new lows imminent? Traders back Solana Market participants are notably bullish on the upcoming weeks and months for crypto, with this sentiment spilling over into Solana despite its recent pullback. Currently, Solana is trading at…

Anticipation Peaks As Bitcoin Halving Countdown Drops Below 100 Days: Will Prices Skyrocket?

boss

With the Bitcoin halving event drawing near, Data from crypto industry research and analytics platform, CryptoRank.io, has recently revealed that a significant majority of its users – 79% – are bullish about the upcoming halving, while 21% have bearish skepticism. This sentiment echoes the historical trend where previous halvings have catalyzed bullish rallies in Bitcoin’s price. Bitcoin Halving Countdown And Price Trajectory The Bitcoin halving, less than 100 days away, is a pivotal event in the crypto world. This process happens approximately every four years, and the reward for mining…

Analyst suggests Shiba Inu primed for a rally following spot Bitcoin ETF news

boss

Despite a recent flat market, SHIB sees the beginning of what Luckside Crypto predicts will be a good week of rallying for the memecoin. According to the Jan. 16 video, the market is starting to see a little bit of excitement following the news of spot Bitcoin ETF approval and the positive sentiment that was reported on Jan. 13, and now, any news around the Coinbase case, which is expected on Jan. 17, the day of the exchange’s federal court date in Manhattan. The SEC is accusing the exchange of violating national…