Tag: Bloomberg

Bloomberg Analyst Cuts Probability of Bitcoin Spot ETF Rejection to 5%

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Popular Bloomberg ETF analyst Eric Balchunas has lowered the possibility of the US Securities and Exchange Commission (SEC) denying the launch of the Bitcoin spot ETF to 5%. This latest forecast comes as crypto enthusiasts worldwide anticipate a wide-scale approval of various Bitcoin spot ETF proposals by the SEC on Wednesday, January 10. Why The Bitcoin Spot ETF Approval Appears Nearly Certain: Bloomberg Analysts Weigh In In October, Eric Balchunas and fellow Bloomberg analyst James Seyffart predicted that there is a 90% chance that ARK Invest and 21 shares would…

Former Citi Executives to Offer Bitcoin Depositary Receipts: Bloomberg

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Traders Employ Hedging Tactics, Bloomberg Unveils

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As the long-awaited deadline for a positive or negative decision on spot Bitcoin ETF applications approaches, Bloomberg reports that the BTC options market is seeing increased hedging activity as traders prepare for a crucial decision on January 10th. The report indicates a surge in open interest for put options expiring on Jan. 12, suggesting that market participants are taking steps to mitigate potential losses in the event of a negative verdict by the US Securities and Exchange Commission (SEC) regarding these index funds holding the cryptocurrency.  Market Readies For Bitcoin…

Bloomberg Experts Forecast Timeline For Ethereum ETF Approval

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The journey towards the approval of an Ethereum ETF in the United States has seen a new development yesterday as the US Securities and Exchange Commission (SEC) has announced a delay in the decision for Grayscale’s Ethereum trust conversion into a spot Exchange Traded Fund (ETF). The SEC has stated the need for an extended period to evaluate the proposed rule change, pushing the new deadline Grayscale to January 25, 2024. In its reasoning, the SEC has reiterated, “The commission finds it appropriate to designate a longer period within which…

Bloomberg Expects Bitcoin Price To Surpass $500,000 In Upcoming Crypto Super Cycle

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In a recent Bloomberg report, it has been suggested that the rise of Bitcoin price to over $42,000 is just the beginning of a new crypto super cycle that will push the world’s largest cryptocurrency to over $500,000. According to Bloomberg, proponents of this theory argue that Bitcoin represents a new monetary order that is captivating Wall Street and fueling a “palpable sense of euphoria” within the digital asset community. Bitcoin Price Potential Soars The remarkable performance of the Bitcoin price in recent months took many by surprise, as the…

Bitcoin Eyes New Highs As Bloomberg Analyst Reiterates 90% Chance Of January ETF Approval

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Bitcoin (BTC), the leading cryptocurrency, is currently in an upward accumulation phase, inching closer to surpassing its current yearly high of $38,390.  This upward trend is further fueled by the anticipation surrounding the approval of Bitcoin spot exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). Bitcoin ETF Approval By January 10 In a recent post on X (formerly Twitter), Erich Balchunas, a Bloomberg ETF expert, shared his perspective on the probability of Bitcoin ETF approval. Balchunas maintains a 90% chance of SEC approval by January 10, which…

Tether, Bitfinex to Drop Opposition to FOIL Request by Journalists Including Bloomberg Businessweek’s Zeke Faux

Tether previously made a similar announcement after losing in court twice when attempting to block a June 2021 FOIL request filed by CoinDesk. That request pertained to documents produced during the New York Attorney General’s inquiry on allegations that USDT, the U.S. dollar-pegged stablecoin that Tether issues, was not sufficiently backed by reserves from mid-2019 to early 2021, settling charges with the company at the end of that period. Source

Binance in Talks to Pay More Than $4B to End U.S. Criminal Case vs Crypto Exchange: Bloomberg

CryptoX – Cryptocurrency Analysis and News Portal Binance Holding Ltd. would be asked to pay $4 billion to settle U.S. Department of Justice accusations of multiple criminal violations, according to a report from Bloomberg News on negotiations between the DOJ and the company, which are also leaving open the possibility that its founder Changpeng “CZ” Zhao would also face U.S. criminal charges. Source The post Binance in Talks to Pay More Than $4B to End U.S. Criminal Case vs Crypto Exchange: Bloomberg appeared first on CryptoX. CryptoX Portal

Bloomberg Intelligence Envisions $100 Billion Market If Regulatory Approval Granted

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As Bitcoin (BTC) continues its upward trajectory toward $38,000, the long-awaited arrival of a US spot Bitcoin exchange-traded fund (ETF) could open the floodgates of digital currency investing for institutional and retail investors. Notably, Bloomberg Intelligence estimates that the potential spot Bitcoin ETF market could reach a staggering $100 billion, signaling a breakthrough for cryptocurrencies on Wall Street. Inquiries Surge As Spot Bitcoin ETF Looms The anticipation surrounding Bitcoin ETFs stems from the expected regulatory approval by the US Securities and Exchange Commission (SEC). After a decade of rejecting various…