Day: January 23, 2024

FMX Futures Exchange Gains CFTC Approval

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BGC Group, Inc., a global brokerage and financial technology company, has announced that its FMX Futures Exchange has received approval from the Commodity Futures Trading Commission (CFTC) to operate an exchange for US Treasury and SOFR (Secured Overnight Financing Rate) futures. These futures contracts are among the most widely traded in the world. FMX’s clearing agreement with LCH SwapClear, one of the largest holders of interest rate collateral globally, uniquely positions FMX to compete in the US interest rate market. Howard W. Lutnick, Chairman and CEO of BGC Group, Source:…

Bitcoin Indicator, Which Signaled Late 2023 Rally, Is About to Flash Bearish Signal

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JP Morgan Reveals Likelihood Of Spot Ethereum ETFs Getting Approved

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Now that Spot Bitcoin ETFs have been approved by the United States Securities and Exchange Commission (SEC), the crypto space anticipates more ETFs to enter the market, particularly Spot Ethereum ETFs.  Despite this, analysts at JP Morgan, an American multinational financial service firm, have revealed a less than optimistic outlook for the potential approval of Ethereum Spot ETFs.  Ethereum Spot ETF Approval Prospects In a note to clients issued on Thursday, January 18, JP Morgan analysts led by Nikolaos Panigirtzoglou, the Managing Director at the financial service firm, expressed their…

Bitcoin mining stocks rise as S&P 500 and Dow Jones hit all-time high

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Marathon Digital, Riot Blockchain, and other public Bitcoin mining companies witnessed positive returns on Monday as Wall Street reached new milestones. The top five largest Bitcoin mining firms by market capitalization saw gains ranging from 2.98% to 6.25% on Monday evening, coinciding with record highs set by the S&P 500 and Dow Jones. While no crypto-related companies are directly listed in these indexes, the overall market excitement appears to have influenced investor sentiment. According to data from CompaniesMarketCap, Bitdeer Technologies Group (BTDR) is the main gainer, showing a 6.25% price…

$35 Million Sell-Off Sends ETH Price Crashing

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Celsius Networks, currently undergoing bankruptcy proceedings, has engaged in significant Ethereum transactions that are causing ripples within the digital currency landscape. In the past 10 hours, on-chain analysts at LookonChain detected noteworthy transfers, including a 13,000 ETH deposit ($30 million) on Coinbase and an additional 2,200 ETH ($5 million) on FalconX. These transactions suggest a proactive stance by Celsius in addressing its ongoing financial challenges. Celsius Sells $125M ETH, Maintains $1.3B Reserve According to Arkham Intelligence, Celsius sold more than $125 million worth of Ethereum (ETH) coins between January 8…

Bitcoin’s safe-haven features could provide ‘solid support’ for spot ETFs, Kaiko says

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As Bitcoin keeps outperforming traditional safe-haven assets like gold or bonds, providers of spot Bitcoin exchange-traded funds (ETFs) are likely to double down on their new products. Bitcoin’s (BTC) asymmetric returns and low correlation could serve as “solid support” for the recently launched spot Bitcoin ETFs, given that institutional players are likely to continue fueling the ongoing enthusiasm for crypto ETFs. In a research report, analysts at Kaiko noted that the largest cryptocurrency by market capitalization has accumulated over $2 billion in net inflow since spot ETFs launch on Jan.…

SOL, AVAX Slide 9% as BTC Traders Target Eye Support at $38K

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Sam Bankman-Fried Linked FTT Tokens Gains as Bitcoin Slumps on ‘Sell-The-News’ ETF

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Asset managers cut fees for European Bitcoin ETFs as competition grows

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Asset management firms have cut fees on their Bitcoin exchange-traded funds (ETFs) in Europe by over 60% to compete with products now available to U.S. investors. In an interview with the Financial Times, Gary Buxton, Invesco head of ETFs for Europe, the Middle East and Africa, and Asia Pacific, said many ETF providers have lowered their fees on their spot Bitcoin ETFs in response to the competitive landscape in the U.S. market. Cathie Wood’s Ark Investment Management, initially indicating a 0.8% fee for its spot Bitcoin ETF, eventually launched with…