Tag: ETF

Bitcoin breaks $49k as spot BTC ETF trading volume surges

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Bitcoin made a 24-month high on day one of open trading for spot BTC ETFs less than 24 hours after the SEC issued approval.  On Jan. 11, the price of Bitcoin (BTC) hit $49,000 for the first time since December 2021 as trading opened for spot BTC ETFs across major U.S. exchanges like the Nasdaq, NYSE, and CBOE.  BTC’s surge amounted to nearly a 10% increase in price, with Bitcoin’s market cap less than $100 billion away from becoming a $1 trillion asset. When this report was written, BTC’s price…

JPMorgan analyzes winners and losers from asset management industry on the bitcoin ETF approval

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The approval of bitcoin ETFs reverberated across the landscape of stocks tied to crypto, leading JPMorgan to lay out which names can emerge as winner and losers. A rule change from the Securities and Exchange Commission released Wednesday night allow for bitcoin-focused exchange-traded funds, a move many see as a catalyst for regular investors to trade the digital currency. More than 10 firms are now in the process of launching bitcoin ETFs. Though the updated policy makes it easier to hold the currency itself, some finance stocks have already allowed…

Bitcoin ETF Approval Triggers $1.2 Billion Trading Volume And New Highs For BTC Price

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In a highly anticipated move, the United States Securities and Exchange Commission (SEC) approved all 11 Bitcoin ETF applications, and the market response has been nothing short of remarkable. The approval has led to significant trading volume and propelled Bitcoin to a new 22-month high. Within minutes of the Bitcoin ETFs going live, Bitcoin surged over 8% to reach $48,400, representing a new record since the end of the crypto bear market. The early price movement aligns with the predictions made by the majority of experts in the crypto industry.…

What major analysts say bitcoin ETF approval means for Coinbase shares

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Cryptocurrencies have faced a turbulent few days in anticipation of — and reaction to — the Securities and Exchange Commission finally approving trading in 11 new spot bitcoin ETFs in the U.S. These newly-launched ETFs spell good news for the crypto market, since they help legitimize an industry that has long been viewed skeptically by regulators and institutional investors alike. The ETFs will also ease the way for retail investors to trade in crypto, giving them the ability to buy and sell various coins through a traditional vehicle that they’re…

Ethereum up 9% after spot Bitcoin ETF approval

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Ethereum (ETH) is up 9%, outpacing Bitcoin despite the U.S. Securities and Exchange Commission (SEC) approving spot Bitcoin ETFs.  What’s next for Ethereum? Ethereum break past $2,600 With the SEC approving 11 spot Bitcoin ETFs, the market promptly shifted its focus to Ethereum. In November 2023, BlackRock and Fidelity filed applications for spot Ethereum ETFs. If history is an indication of the future, then these ETFs could very likely be passed. Senior ETF analyst at Bloomberg Eric Balchunas noted in June that BlackRock had previously applied for 576 ETFs and…

Bitcoin Price Targets A Whopping $600,000 After ETF Approval

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Bullish tremors shook the cryptocurrency world today as Bitcoin, fueled by the historic approval of spot ETFs and a bold prediction by analyst Michaël van de Poppe, appears poised for a potential moonshot. Van de Poppe, whose pronouncements carry weight in the digital realm, envisions an ascent of the world’s leading cryptocurrency to staggering heights – a price range of $300-$600K within the current cycle. Related Reading: Bitcoin ETF: Navigating The Promise And Pitfalls Of Mainstream Adoption ETF Excitement Sparks Bitcoin Trading Surge This electrifying forecast sent a ripple of…