Day: April 5, 2024

DWS, Galaxy Digital List Exchange-Traded Commodities (ETCs) Offering Bitcoin, Ether Exposure in Germany

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While spot crypto exchange-traded products (ETPs) have been available in Europe for several years – CoinShares’ Physical Bitcoin ETP, for example, was listed in 2021, and Zurich-based 21Shares says it introduced the world’s first physically backed ETP in 2018 – they’ve come more into focus since the U.S. Securities and Exchange Commission approved a bunch of exchange-traded funds (ETFs) for the world’s biggest economy in January. The U.S. funds have attracted a net inflow of about $12 billion in less than three months, according to BitMEX Research. Source

Hong Kong Warns against Unlicensed Crypto Exchange Sure X

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Hong Kong’s financial regulator has issued a warning to the public regarding an unlicensed virtual asset trading platform that is suspected of marketing services to investors without proper authorization. The Securities and Futures Commission (SFC) cautioned investors against trading on Sure X, highlighting the risks of potential losses due to platform failure, hacking, or misappropriation of assets. Sure X is a virtual asset trading platform operating under various names, such as “Sure Bit International Pte Ltd” or “Sure Bit International Ltd”. The SFC warned that investors might still find ways…

MicroStrategy’s Implied Premium to Bitcoin Settling Into New Norm, BTIG Says

“The premium is supported by a desire for investors to have exposure to bitcoin who may be unable to invest directly in bitcoin or in exchange-traded funds (ETFs), and also supported by MSTR’s ability to accretively raise capital to purchase additional bitcoin for shareholders,” the authors wrote. Due to the company’s capital market activity it now has greater exposure to bitcoin on a per-share basis, the report noted. MicroStrategy is expected to benefit from bitcoin catalysts in the coming year, such as the upcoming halving event, which is expected to…

Crypto Analyst Predicts ADA Price Crash To $0.34, Why Is Cardano Founder Bullish?

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Cardano (ADA) is again in the spotlight as crypto analysts continue to deliberate on its future trajectory. This time, crypto analyst Alan Santana has laid out a bearish narrative for the crypto token, which could cause its price to drop drastically.  How ADA Could Crash To $0.34 In his analysis, Santana stated that ADA’s breakout below the $0.58 price level, which has acted as support for the crypto token for five weeks, signals a bearish sentiment toward it. In line with this, he suggested that ADA’s price could further dip…

Beeks Group and STT Collaborate for Exchange Trading and Clearing Services

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Beeks, a cloud computing and connectivity provider for financial markets, has partnered with Securities & Trading Technology (STT) to enhance exchange trading and clearing services in the global financial markets. According to the press release, this collaboration aims to provide a suite of services targeting financial institutions. Beeks and STT aim to offer financial solutions delivered as fully managed services. According to these organizations, this approach alleviates the need for huge investments in infrastructure and operational costs. Zack Hodgson, the Chairman of STT, mentioned: “Joining forces with Beeks represents a…

Analyst Foresees $69,000 Target In Near Term

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Crypto Jelle, a cryptocurrency analyst and aficionado, has expressed optimism toward the price action of Bitcoin, highlighting the potential for the digital asset to revisit the $69,000 threshold in the short term. Bitcoin Poised For Short-Term Gains Due to waning interest in the cryptocurrency market, the price of Bitcoin fell by 5.60% to $66,650. However, the latest price decline does not seem to have dampened traders’ and analysts’ expectations for a sustained bull run, and one of those is analyst Crypto Jelle. Crypto Jelle advocates for the largest crypto asset…

Ethena Labs Adopts Bitcoin to Back USDE Stablecoin; Supply Surpasses 2 Billion

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On Thursday, Ethena Labs unveiled its new strategy to back USDE with bitcoin, enhancing the stablecoin’s foundation. The stablecoin, known for delivering yields in the double digits, has rapidly ascended to become the fifth-largest stablecoin by market capitalization, now valued at over $2 billion. USDE to Utilize Bitcoin as Collateral An update shared by Ethena […] Original