Tag: ETF

Ethereum ETF approvals won’t be same as Bitcoin

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SEC Commissioner Hester Peirce said that the Ethereum ETF approval process won’t be the same as Bitcoin, as the SEC has learned several lessons from the spot Bitcoin ETF saga.  In an interview today with Zack Guzmán, Peirce said that the SEC shouldn’t need to be persuaded by a court to approve crypto-backed ETFs eventually. Peirce mentioned that the regulators will change their approval process for ETH ETF applicants, and they will make regular consumer and market considerations, as it does with all ETF products.  “We shouldn’t need a court…

Coinbase faces headwinds as Bitcoin and ETF interest dips, says JPMorgan

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Coinbase may face challenges due to decreasing Bitcoin values and declining interest in Bitcoin ETFs, as per insights from JPMorgan Chase & Co. Coinbase’s shares plummeted by 6.2% on Tuesday, as the downturn followed JPMorgan’s decision to issue its first negative assessment equivalent to a “sell” rating on the company since it began tracking the stock in May 2021. Despite a significant upsurge of nearly 400% by the end of 2023, Coinbase’s shares have mirrored the trajectory of Bitcoin, which saw a remarkable increase in the same period. In 2024,…

SEC reveals SIM swap attack behind false Bitcoin ETF approval announcement

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A SIM swap attack on the U.S. SEC’s Twitter account led to a false tweet about Bitcoin ETF approval, briefly disrupting the cryptocurrency market. On Jan. 10, the U.S. Securities and Exchange Commission (SEC) experienced a cybersecurity breach, resulting in a misleading tweet about spot Bitcoin ETFs from its official account. This incident, caused by a SIM swap attack, briefly stirred confusion in the cryptocurrency markets. The SEC explained the situation in a statement: “The unauthorized party obtained control of the SEC cell phone number associated with the @SECGov account…

Is Grayscale (GBTC) Takeover Bait Amid Bitcoin ETF Battle?

“A strategic acquisition of a firm such as Grayscale makes a ton of sense for the right traditional ETF issuer assuming the price is palatable,” said Nate Geraci, president of the ETF Store, an advisory firm. “While only two weeks old, the spot bitcoin ETF category is already wildly competitive and has clearly turned into a scale game given how low expense ratios are. A traditional ETF issuer could quickly boost assets under management, gain business operating expertise, and also acquire some ‘crypto street cred’ by targeting the right crypto-fund…

Bitcoin (BTC) Prices Fall Under $39K As ETF Debut Continues To Be ‘Sell-the-News’ Event

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

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

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CryptoX was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Bitcoin (BTC) Prices More Impacted by ETF, GBTC Outflow, Rather Than China Stimulus Plan: Analysts

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“The rebound of the Chinese economy will have profound implications for the global economy, and any stimulus or accommodative policy will be an encouraging sign to investors. The crypto market will also perceive such policies as risk-on and, therefore, be more willing to innovate and active in market expansion,” said Greta Yuan, Head of Research at VDX, a regulated exchange in Hong Kong, in a note. Original

Bitcoin dips below $40k amid BTC ETF selloffs

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Bitcoin dropped under $40,000 amid GBTC sell-offs from bankrupt crypto exchange FTX and BTC deposits on Coinbase by spot BTC ETF issuer Grayscale. Bitcoin (BTC) slid down nearly 9% on Jan. 22, exchanging hands around $39,700 on venues like Binance and Coinbase. The largest cryptocurrency likely saw depreciating prices due to outflows from Grayscale’s spot Bitcoin ETF, a fund built on the firm’s long-standing GBTC product.  BTC below $40k | Source: TradingView GBTC is the largest spot BTC ETF in the U.S. marketing with over $20 billion in assets under management.…

ProShares Bitcoin ETF trading declined over 70% since spot Bitcoin ETF launch

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ProShares’ Bitcoin Strategy ETF experiences a significant drop in trading activity as investors shift focus to spot Bitcoin ETFs. On Jan. 18, trading volumes for BITO on the New York Stock Exchange fell sharply to just above $500 million, a significant decrease from the $2 billion peak seen on Jan. 11, per Coinbase’s data. Additionally, data from ETF.com shows a substantial outflow from BITO, exceeding $270 million, within the same timeframe. Despite this downturn in trading activity, market analysts maintain a positive outlook on BITO’s role in the sector, particularly…