Tag: ETF

American Investment Bank TD Cowen Says Ethereum ETF Will Be Delayed

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Despite the United States Securities and Exchange Commission (SEC) granting approval for Spot Bitcoin ETFs, TD Cowen, a prominent American investment bank and financial service firm, foresees potential delays in the approval process of Ethereum Spot ETFs.  Ethereum Spot ETF Faces Potential Hold-Up TD Cowen, an investment bank and financial service division of TD Securities has made a bold forecast, predicting that the US SEC is unlikely to approve Ethereum Spot ETFs before its deadline. Presently, the SEC is obligated to make its final decision on its rejection or acceptance…

Ethereum Classic surges as ETF speculation continues

Ethereum Classic (ETC) experienced a 37% increase over the past seven days. Observers note that the surge is likely due to investors anticipating that the U.S. Securities and Exchange Commission will consider applications for an Ethereum (ETH) exchange-traded fund (ETF). On Jan. 10, the agency approved spot Bitcoin ETFs, However, SEC Chair Gary Gensler cautioned that the BTC ETF green light should not be interpreted as a signal of the agency’s willingness to give ETH the same treatment. Still, Ethereum Classic witnessed a surge of over 35% this week. The altcoin is…

Vanguard ceases support for Bitcoin futures ETF purchase

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Vanguard, one of the world’s largest asset managers, continues to maintain its anti-Bitcoin sentiment, with the company recently stating that it would stop the purchase of Bitcoin futures exchange-traded funds (ETFs) on its platform. A Vanguard spokesperson confirmed to Axios that it will stop the purchase of all crypto-related products. The move will allow the asset manager to offer investors a “core set of products and services” in line with its policy and objectives.  As previously reported by crypto.news, Vanguard announced that the trading of spot Bitcoin ETFs – which…

Bitcoin Hashrate Hits New All-Time Amid Spot ETF Frenzy

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Bitcoin’s hash rate, that is the network’s computing power, recently reached a new all-time high amidst the frenzy that came with the debut of spot Bitcoin ETFs in the US. According to data from IntoTheBlock, the Bitcoin hashrate reached an all-time high of 630.91 million TH/s or 630 EH/s on January 11, less than 24 hours after the U.S. Securities and Exchange Commission approved 11 Spot Bitcoin ETFs in the country. Bitcoin’s hash rate hit a new all-time high yesterday🔗https://t.co/bkdHCcEXFk pic.twitter.com/Mn3GxyDp6d — IntoTheBlock (@intotheblock) January 12, 2024 Bitcoin Hashrate Reaches…

Bitcoin takes center stage as ETF approved; AI altcoin targets in $3m presale

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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 launch of Bitcoin exchange-traded funds (ETFs) is generating excitement in the crypto market. Bitcoin (BTC) is poised to capitalize on this momentum by reaching a psychological price target of $50,000. Meanwhile, Borroe Finance (ROE) is gaining prominence as an AI-powered crypto project, with its presale fundraising nearing $3 million. Borroe Finance’s authenticity is highly verified With scams prevalent in crypto, Borroe Finance is emerging as a reliable defi project whose…

Buy Low, Sell High? Bitcoin Wobbles As ETF Fever Cool Downs

In a week etched in crypto history, the long-awaited arrival of Bitcoin ETFs in the US sent shockwaves through the market. Yet, despite the monumental achievement, the king of crypto, Bitcoin, took a step back on Saturday, dipping 6% to end the week barely above $43,000. Many analysts predicted a “sell-the-news” scenario, where investors cashed in on profits built upon anticipation of the ETF approval. Others suggest a rotation into Ethereum, which surged 15% on the week and touched highs not seen since May 2022. Ethereum ETF Speculation: Shaping Crypto…

Gensler speculates on Ethereum post Bitcoin ETF approval

On the heels of the approval of spot Bitcoin ETFs, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is exercising caution on Ethereum. In an interview with CNBC, Gensler addressed the possibility of a spot Ethereum ETF gaining SEC approval in the future. While acknowledging the approval of Bitcoin ETFs, he emphasized that this was specific to Bitcoin as a non-security commodity token. He carefully refrained from providing further insights on an Ethereum ETF but hinted at a distinction between Bitcoin’s commodity status and the potential classification of other…

ETF Dream Fades, Price Tumbles Under $42,000

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In a dramatic turn of events, Bitcoin prices plummeted Friday, erasing almost 10% of its value and dashing hopes of a sustained rally fueled by the highly anticipated launch of spot Bitcoin ETFs. The cryptocurrency, which had surged to a two-year high of $49,000 just a day prior, retreated below $42,000 as investors digested the implications of the new financial instruments. Bitcoin’s Downturn: ETF Impact, Trust Sell-off, FTX Bankruptcy Analysts point to a confluence of factors behind the sudden downturn. Profit-taking by early adopters who cashed in on the ETF-induced…

South Korea stands firm on crypto ETF ban, unswayed by US approval

South Korea’s stance on cryptocurrency ETFs remains unchanged despite the U.S. giving the green light to a Bitcoin spot ETF.  The South Korean government continues to disallow the launch of cryptocurrency ETFs, adhering to its long-standing policy of not recognizing digital currencies as financial assets. Since 2017, financial institutions in the country have been barred from investing in cryptocurrencies. Local sources have reported that the Financial Services Commission (FSC) of South Korea reaffirms the government’s commitment to financial market stability and investor protection. The FSC official highlighted that there has…

Bitcoin Price Suffers Post-Spot ETF Blues, Drops 7% To $43,200

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The introduction of Bitcoin (BTC) exchange-traded funds (ETFs) has triggered a significant sell-off, leading to a sharp decline in the Bitcoin price. After gaining approval and commencing trading on Thursday, the ETFs have prompted a “sell the news” event, causing Bitcoin’s value to plummet from its initial trading price of $46,500 at the time of approval to a low of $43,200 within a matter of hours on Friday. Over the past 24 hours, Bitcoin, the largest cryptocurrency by market capitalization, has experienced a 7% drop. Its gains over the past…