The surge in the crypto market since the past few days can be attributed to several factors driving renewed investor optimism and heightened interest in digital assets. Despite facing challenges in 2023 due to global economic conditions, the market has demonstrated resilience and bounced back strongly. While inflation didn’t directly impact the previous slump, other macroeconomic factors played a significant role. However, recent developments, such as the approval of Bitcoin Spot Exchange Traded Funds (ETFs) by the U.S. Securities and Exchange Commission and the upcoming Bitcoin halving event, have injected substantial investments into the market, bolstering overall sentiment.
Britain’s financial regulator announced that it would permit recognized investment exchanges to introduce crypto-backed exchange-traded notes (cETNs), joining other regulators in facilitating the adoption of digital assets. The Financial Conduct Authority (FCA) specified that these products would be accessible exclusively to professional investors, such as credit institutions and investment firms authorized to operate in financial markets.
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