“We’re not saying that, for bitcoin, yesterday’s announcement will not be significant,” said Vincent Gusdorf, senior vice president, DeFi and Digital Assets (DFDA) at Moody’s. “It is significant and institutional investors’ entry into this market will be a kind of a watershed moment for the crypto industry.” Original
The largest crypto asset by market capitalization climbed from below $46,000 earlier today to over $47,000, then accelerated, hitting a $49,042 during early U.S. trading session, according to CoinDesk Indices data, which collects pricing from multiple exchanges. Then, it gave up all its gains and buckled below $46,000. Source BitcoincryptoexchangeExchanges CryptoX Portal
The iShares Bitcoin Trust (IBIT), the spot offering from TradFi giant BlackRock, could end the first trading day with as much as a record $3 billion in inflows, according to cryptocurrency index provider CF Benchmarks, a subsidiary of crypto exchange Kraken that provides indexes for six of the newly launched ETFs, including BlackRock’s. Original
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…
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…
The crypto exchange has a dominant role in all but one of the approved ETFs, acting as an issuer or custodian, the report said. Source
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.…
“With levered upside and theoretical hedged downside, we believe bitcoin miners represent an attractive investment opportunity for equity investors looking for a way to access this long-term bitcoin adoption trade,” the authors wrote, adding that the spot ETFs could have a “substantial positive impact on bitcoin miner valuations.” Original
While Grayscale’s GBTC led, this is likely due to existing investors selling shares, Bloomberg analyst Eric Balchunas explained in an X post. GBTC, introduced in 2013, is the world’s largest bitcoin investment fund and was converted into an ETF from a closed-end structure after Wednesday’s regulatory approval. Original
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…