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BlackRock CEO: 'I See Value in Ether Spot ETFs'
“I see value in Ether ETFs. These are just steps on the path to tokenization, and I believe that we will move in this direction,” said Larry Fink in an interview on CNBC.
Fink added that he considers cryptocurrencies to be an asset class. In his opinion, cryptocurrencies are an alternative means of storing value. The head of BlackRock also believes that BTC is “no different” from gold and is a defensive asset. Moreover, Bitcoin, unlike gold, has a finite supply.
BlackRock, as well as others including Fidelity and VanEck, have already filed with the SEC for spot ether ETFs. Some experts predict that the first applications will be approved as early as May this year. However, according to analysts at JP Morgan, the approval of ETFs for airwaves in the spring is unlikely.
It recently became known that it was the voice of SEC Chairman Gary Gensler, who positions himself as an ardent opponent of cryptocurrencies, that became decisive in favor of approving spot Bitcoin ETFs.
#ETFs #ETF: #etf #Ethereum! #ETH2024
$ETH $BTC
“I see value in Ether ETFs. These are just steps on the path to tokenization, and I believe that we will move in this direction,” said Larry Fink in an interview on CNBC.
Fink added that he considers cryptocurrencies to be an asset class. In his opinion, cryptocurrencies are an alternative means of storing value. The head of BlackRock also believes that BTC is “no different” from gold and is a defensive asset. Moreover, Bitcoin, unlike gold, has a finite supply.
BlackRock, as well as others including Fidelity and VanEck, have already filed with the SEC for spot ether ETFs. Some experts predict that the first applications will be approved as early as May this year. However, according to analysts at JP Morgan, the approval of ETFs for airwaves in the spring is unlikely.
It recently became known that it was the voice of SEC Chairman Gary Gensler, who positions himself as an ardent opponent of cryptocurrencies, that became decisive in favor of approving spot Bitcoin ETFs.
#ETFs #ETF: #etf #Ethereum! #ETH2024
$ETH $BTC
Hong Kong’s crypto futures ETFs experience peak performance amid bitcoin rally
Quick Take
Three cryptocurrency futures ETFs reached new all-time highs on Thursday in Hong Kong after the stock market resumed trading on Wednesday following the Lunar New Year break.
Hong Kong’s three crypto futures exchange-traded funds hit new price highs as bitcoin climbed above $52,000 on Thursday.
The CSOP Bitcoin Futures ETF — the first bitcoin futures ETF in Hong Kong — closed up 3.56% on Thursday at HK$20.92 ($2.67), marking an all-time high since its launch in December 2022. The Samsung Bitcoin Futures Active ETF rose by 3.67% to HK$20.32 at the close on Thursday, and the CSOP Ether Futures ETF closed up 4.56% at HK$15.81, both hitting all-time highs. Hong Kong’s benchmark Hang Seng index ended 0.41% higher.
The ETF movements came as the price of bitcoin rose to around $52,800 on Thursday, according to The Block Price Page. Bitcoin was trading at around $52,100 at 2:15 p.m. Hong Kong time on Friday.
Meanwhile, some blockchain- and crypto-related stocks climbed on Thursday in Hong Kong. Sinohope Technology Holdings Ltd., formerly Huobi Technology or New Huo Technology, saw its stock surge by 26% on Thursday. The stock of crypto trading platform OSL closed 12.6% higher on Thursday.
Spot crypto ETF rush
Several Hong Kong companies have announced plans to file spot crypto ETF applications this year after the regional regulators said they were prepared to accept such applications.
Earlier this month, financial services firm Venture Smart Financial Holdings said that it aims to debut its spot bitcoin ETF in Q1 and a spot ether ETF in the second quarter. The Hong Kong arm of major Chinese asset manager Harvest Fund reportedly submitted an application for a spot bitcoin ETF in January.
Last month, Livio Weng, chief executive officer of HashKey Exchange, said that around ten fund companies, including those with Chinese capital backing, have started looking into launching potential spot crypto ETFs in the city.
#TrendingTopic
#Write2Earn
#ETF:
Quick Take
Three cryptocurrency futures ETFs reached new all-time highs on Thursday in Hong Kong after the stock market resumed trading on Wednesday following the Lunar New Year break.
Hong Kong’s three crypto futures exchange-traded funds hit new price highs as bitcoin climbed above $52,000 on Thursday.
The CSOP Bitcoin Futures ETF — the first bitcoin futures ETF in Hong Kong — closed up 3.56% on Thursday at HK$20.92 ($2.67), marking an all-time high since its launch in December 2022. The Samsung Bitcoin Futures Active ETF rose by 3.67% to HK$20.32 at the close on Thursday, and the CSOP Ether Futures ETF closed up 4.56% at HK$15.81, both hitting all-time highs. Hong Kong’s benchmark Hang Seng index ended 0.41% higher.
The ETF movements came as the price of bitcoin rose to around $52,800 on Thursday, according to The Block Price Page. Bitcoin was trading at around $52,100 at 2:15 p.m. Hong Kong time on Friday.
Meanwhile, some blockchain- and crypto-related stocks climbed on Thursday in Hong Kong. Sinohope Technology Holdings Ltd., formerly Huobi Technology or New Huo Technology, saw its stock surge by 26% on Thursday. The stock of crypto trading platform OSL closed 12.6% higher on Thursday.
Spot crypto ETF rush
Several Hong Kong companies have announced plans to file spot crypto ETF applications this year after the regional regulators said they were prepared to accept such applications.
Earlier this month, financial services firm Venture Smart Financial Holdings said that it aims to debut its spot bitcoin ETF in Q1 and a spot ether ETF in the second quarter. The Hong Kong arm of major Chinese asset manager Harvest Fund reportedly submitted an application for a spot bitcoin ETF in January.
Last month, Livio Weng, chief executive officer of HashKey Exchange, said that around ten fund companies, including those with Chinese capital backing, have started looking into launching potential spot crypto ETFs in the city.
#TrendingTopic
#Write2Earn
#ETF:
📰 #BlackRock Updates S-1 for Spot #Ethereum #ETF:
- BlackRock has submitted an updated S-1 application for its spot Ethereum ETF.
- This move signifies BlackRock's ongoing efforts to introduce Ethereum investment opportunities.
- BlackRock has submitted an updated S-1 application for its spot Ethereum ETF.
- This move signifies BlackRock's ongoing efforts to introduce Ethereum investment opportunities.
💰 Bitcoin ETFs did 10x the inflow of Gold ETFs yesterday 🤯
Bitcoin +$514mm vs Gold +$52mm.
#BTC #Bitcoin #ETFbitcoin #ETF: #TrendingTopic
Bitcoin +$514mm vs Gold +$52mm.
#BTC #Bitcoin #ETFbitcoin #ETF: #TrendingTopic
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The hottest ETF trend of 2023 has appeared in the crypto market
A popular 2023 crypto strategy in the $8 trillion exchange-traded fund industry is hitting the market—the Roundhill Bitcoin Covered Call Strategy ETF began trading this week under the ticker symbol YBTC, Bloomberg writes.
The actively managed fund tracks the performance of the largest cryptocurrency, BTC, through the futures-backed ProShares Bitcoin Strategy ETF (NYSE:BITO) (BITO), on which it will also write covered call options, which will provide additional income in exchange for giving up some of the potential risk of BTC, at the risk of degrading the performance of the cryptocurrency itself.
Covered call strategies were popularized by the explosion of the $31 billion JPMorgan Equity Premium Income ETF (JEPI), which invests in low-volatility stocks.
The fund became the largest actively managed ETF last year amid concerns over the Fed's high interest rates as investors turned their attention to the fund's robust payout.
#ETF: #ETF's #ETFs #etf #ETFsApproval
$BTC
A popular 2023 crypto strategy in the $8 trillion exchange-traded fund industry is hitting the market—the Roundhill Bitcoin Covered Call Strategy ETF began trading this week under the ticker symbol YBTC, Bloomberg writes.
The actively managed fund tracks the performance of the largest cryptocurrency, BTC, through the futures-backed ProShares Bitcoin Strategy ETF (NYSE:BITO) (BITO), on which it will also write covered call options, which will provide additional income in exchange for giving up some of the potential risk of BTC, at the risk of degrading the performance of the cryptocurrency itself.
Covered call strategies were popularized by the explosion of the $31 billion JPMorgan Equity Premium Income ETF (JEPI), which invests in low-volatility stocks.
The fund became the largest actively managed ETF last year amid concerns over the Fed's high interest rates as investors turned their attention to the fund's robust payout.
#ETF: #ETF's #ETFs #etf #ETFsApproval
$BTC
Expert Opinions on Ether ETFs: While some experts view the VanEck ETF surge as a potential positive sign for the overall market, others remain cautious, citing concerns regarding regulatory risks and uncertainties associated with such instruments.
#ETF: #Ethereum(ETH) #Write2Earn #TrendingTopic #Portal
$ETH
#ETF: #Ethereum(ETH) #Write2Earn #TrendingTopic #Portal
$ETH
Why #Bitcoin(BTC) is Dumping 👇
The recent dip in Bitcoin's price is likely a result of profit-taking by early investors after its significant run from $15500 to $73700. However, it's important not to #panic as this correction was expected given Bitcoin's rapid ascent.
Interestingly, altcoins are holding up relatively well compared to Bitcoin, indicating that money is flowing from BTC to other coins in the market. Once Bitcoin stabilizes and finds support, it's expected to range between $60000- $72000
This period of #consolidation will give #Ethereum(ETH) an opportunity to shine, especially with the potential approval of a spot #ETF: in May, following Bitcoin's halving in April.
As $BTC ranges, $ETH is anticipated to break $5k and set new all-time highs, driven by the ETF excitement similar to what Bitcoin experienced.
This surge in ETH's price will likely instill more confidence in the market, leading to increased investment across high, mid, and low-cap altcoins, potentially triggering an epic altseason.
It's crucial to hold steady and be patient during these times, as the overall trend remains bullish for both Bitcoin and altcoins. Avoid getting shaken out by the actions of whales and focus on the long-term potential of your investments.
Thankyou.
The recent dip in Bitcoin's price is likely a result of profit-taking by early investors after its significant run from $15500 to $73700. However, it's important not to #panic as this correction was expected given Bitcoin's rapid ascent.
Interestingly, altcoins are holding up relatively well compared to Bitcoin, indicating that money is flowing from BTC to other coins in the market. Once Bitcoin stabilizes and finds support, it's expected to range between $60000- $72000
This period of #consolidation will give #Ethereum(ETH) an opportunity to shine, especially with the potential approval of a spot #ETF: in May, following Bitcoin's halving in April.
As $BTC ranges, $ETH is anticipated to break $5k and set new all-time highs, driven by the ETF excitement similar to what Bitcoin experienced.
This surge in ETH's price will likely instill more confidence in the market, leading to increased investment across high, mid, and low-cap altcoins, potentially triggering an epic altseason.
It's crucial to hold steady and be patient during these times, as the overall trend remains bullish for both Bitcoin and altcoins. Avoid getting shaken out by the actions of whales and focus on the long-term potential of your investments.
Thankyou.
See original
Greenpeace criticized the approval of Bitcoin ETF in the US
The international environmental organization Greenpeace criticized the decision of the US Securities and Exchange Commission (SEC) regarding spot Bitcoin ETFs.
Environmentalists say it was a win for Wall Street, “but a loss for the climate and society.”
“Without significant and measurable changes to Bitcoin mining practices in the near term, this poses significant challenges to our efforts to reduce carbon emissions and prevent the worst impacts of the climate crisis,” the statement said.
The organization called on BlackRock, Fidelity and other financial institutions investing in the first cryptocurrency to play an active role in solving the problem of carbon dioxide emissions.
“As the price of Bitcoin rises, so does its environmental impact. Miners use more electricity […]. This electricity is produced predominantly from fossil fuels, leading to increased carbon dioxide emissions and water consumption,” Greenpeace added.
#BitcoinWorld #BTC!💰 #ETF: #etf #BTCUSD
$BTC
The international environmental organization Greenpeace criticized the decision of the US Securities and Exchange Commission (SEC) regarding spot Bitcoin ETFs.
Environmentalists say it was a win for Wall Street, “but a loss for the climate and society.”
“Without significant and measurable changes to Bitcoin mining practices in the near term, this poses significant challenges to our efforts to reduce carbon emissions and prevent the worst impacts of the climate crisis,” the statement said.
The organization called on BlackRock, Fidelity and other financial institutions investing in the first cryptocurrency to play an active role in solving the problem of carbon dioxide emissions.
“As the price of Bitcoin rises, so does its environmental impact. Miners use more electricity […]. This electricity is produced predominantly from fossil fuels, leading to increased carbon dioxide emissions and water consumption,” Greenpeace added.
#BitcoinWorld #BTC!💰 #ETF: #etf #BTCUSD
$BTC
See original
“A bearish scenario is unlikely.” Experts assessed the potential of Bitcoin after falling below $42,000
The first cryptocurrency fell by 15% after the launch of spot Bitcoin ETFs.
Experts interviewed by ForkLog allowed a further drawdown and noted the flow of funds into altcoins.
Despite the predominance of bullish sentiment before the approval of spot Bitcoin ETFs, after their launch, the first cryptocurrency dropped by almost 15% - from $49,000 to $41,500.
On the evening of January 10, when the SEC approved all applications for exchange-traded funds, digital gold immediately reached two-year highs, but began to decline the next day after trading began.
At the same time, the cryptocurrency “Fear and Greed Index” dropped to a value of 52, which signals moderate sentiment in the market.
According to Coinglass, over the past seven days, $5.5 billion in positions were liquidated, of which $4.4 billion were longs.
In fact, the correction of the first cryptocurrency confirmed analysts’ previous concerns about a “selling on news” scenario.
#ETFs #ETF: #ETFTrends #etf #BTCUSD
$BTC
The first cryptocurrency fell by 15% after the launch of spot Bitcoin ETFs.
Experts interviewed by ForkLog allowed a further drawdown and noted the flow of funds into altcoins.
Despite the predominance of bullish sentiment before the approval of spot Bitcoin ETFs, after their launch, the first cryptocurrency dropped by almost 15% - from $49,000 to $41,500.
On the evening of January 10, when the SEC approved all applications for exchange-traded funds, digital gold immediately reached two-year highs, but began to decline the next day after trading began.
At the same time, the cryptocurrency “Fear and Greed Index” dropped to a value of 52, which signals moderate sentiment in the market.
According to Coinglass, over the past seven days, $5.5 billion in positions were liquidated, of which $4.4 billion were longs.
In fact, the correction of the first cryptocurrency confirmed analysts’ previous concerns about a “selling on news” scenario.
#ETFs #ETF: #ETFTrends #etf #BTCUSD
$BTC
#ETFMARKET #ETHFILAUNCHPOOL #ETFs. #ETFtrading #ETF:
Accessibility: An Ethereum ETF would make it easier for regular investors to buy Ethereum, similar to buying stocks. This could increase Ethereum's popularity and potentially its price.
Market Validation: Approval would show that Ethereum is seen as a legitimate investment by regulators and traditional finance, which could attract more investors.
Regulatory Impact: Regulators might impose rules on the ETF, affecting how it operates and how investors can buy and sell shares.
Risk Management: An ETF could offer a safer way to invest in Ethereum compared to buying it directly, as the ETF would be subject to regulations that protect investors.
Accessibility: An Ethereum ETF would make it easier for regular investors to buy Ethereum, similar to buying stocks. This could increase Ethereum's popularity and potentially its price.
Market Validation: Approval would show that Ethereum is seen as a legitimate investment by regulators and traditional finance, which could attract more investors.
Regulatory Impact: Regulators might impose rules on the ETF, affecting how it operates and how investors can buy and sell shares.
Risk Management: An ETF could offer a safer way to invest in Ethereum compared to buying it directly, as the ETF would be subject to regulations that protect investors.
See original
Fidelity's spot BTC-ETF is the second after BlackRock to surpass $1 billion in inflows
Fidelity's spot bitcoin exchange-traded fund (ETF) under the ticker symbol FBTC, following BlackRock's product (IBIT), recorded inflows of over $1 billion five days after the start of trading. During this period, total inflows across 11 US-traded funds approached $1.2 billion, according to the analytics arm of crypto exchange BitMEX.
Data from The Block
#ETF's #ETFTrends #ETF: #ETFs #etf
$BTC
Fidelity's spot bitcoin exchange-traded fund (ETF) under the ticker symbol FBTC, following BlackRock's product (IBIT), recorded inflows of over $1 billion five days after the start of trading. During this period, total inflows across 11 US-traded funds approached $1.2 billion, according to the analytics arm of crypto exchange BitMEX.
Data from The Block
#ETF's #ETFTrends #ETF: #ETFs #etf
$BTC
See original
SEC delays decision on Fidelity's proposed spot Ethereum ETF until March
The US Securities and Exchange Commission (SEC) has delayed the deadline for a decision on investment firm Fidelity's application to create a spot Ethereum exchange-traded fund (ETF) until March 5. The regulator needs more time to review the documents and the issues raised in them. Fidelity sought permission to launch the Fidelity Ethereum Fund in November.
#SEC #secNews #ETF: #etf #ETH2024
$ETH
The US Securities and Exchange Commission (SEC) has delayed the deadline for a decision on investment firm Fidelity's application to create a spot Ethereum exchange-traded fund (ETF) until March 5. The regulator needs more time to review the documents and the issues raised in them. Fidelity sought permission to launch the Fidelity Ethereum Fund in November.
#SEC #secNews #ETF: #etf #ETH2024
$ETH
See original
The New York Stock Exchange wants to trade options on Bitcoin ETFs
The New York Stock Exchange (NYSE) has applied to list and begin trading options on its newly issued spot Bitcoin ETF.
Bloomberg analyst Eric Balchunas said that members of the US Securities and Exchange Commission (SEC) should review the NYSE proposal within two months. Eric believes that options on Bitcoin ETFs will be in great demand due to the high level of volatility in the cryptocurrency price.
According to NYSE experts, thanks to the new options, the liquidity of Bitcoin-based derivatives will increase, as well as the trading volume on the exchange will increase. At the same time, investors will have an additional tool for hedging risks, and they will be able to increase their capital by correctly predicting the movement of the BTC price.
After the SEC staff authorized the issuance of a Bitcoin ETF, the value of the digital asset fell 9%, despite the influx of capital into the newly created investment vehicles.
Director of a financial company
#ETF's #ETF: #ETFs #etf #ETFTrends
$BTC
The New York Stock Exchange (NYSE) has applied to list and begin trading options on its newly issued spot Bitcoin ETF.
Bloomberg analyst Eric Balchunas said that members of the US Securities and Exchange Commission (SEC) should review the NYSE proposal within two months. Eric believes that options on Bitcoin ETFs will be in great demand due to the high level of volatility in the cryptocurrency price.
According to NYSE experts, thanks to the new options, the liquidity of Bitcoin-based derivatives will increase, as well as the trading volume on the exchange will increase. At the same time, investors will have an additional tool for hedging risks, and they will be able to increase their capital by correctly predicting the movement of the BTC price.
After the SEC staff authorized the issuance of a Bitcoin ETF, the value of the digital asset fell 9%, despite the influx of capital into the newly created investment vehicles.
Director of a financial company
#ETF's #ETF: #ETFs #etf #ETFTrends
$BTC
See original
Kevin O'Leary did not see any advantages in BTC-ETF compared to Bitcoin itself
Shark Tank star and O'Shares ETFs chairman Kevin O'Leary said he would never buy shares of a bitcoin-based spot exchange-traded fund because he already invests in the asset directly and prefers not to pay management fees. He noted that he views BTC as digital gold and intends to hold it for the long term, while ETFs come with additional costs and do not provide additional value.
Fox Business material
#ETF: #ETFBitcoin #ETF's #ETFTrends #etf
$BTC
Shark Tank star and O'Shares ETFs chairman Kevin O'Leary said he would never buy shares of a bitcoin-based spot exchange-traded fund because he already invests in the asset directly and prefers not to pay management fees. He noted that he views BTC as digital gold and intends to hold it for the long term, while ETFs come with additional costs and do not provide additional value.
Fox Business material
#ETF: #ETFBitcoin #ETF's #ETFTrends #etf
$BTC
Senators Want Caution on Crypto ETFs: What This Means for Investors
Two U.S. Senators recently raised concerns about cryptocurrency ETFs (Exchange Traded Funds) with the Securities and Exchange Commission (SEC). They're worried that these ETFs might expose investors, especially everyday people, to some risks.
Will this have anything to do with the red market we currently have? I read you in the comments!
Let's break it down
Cryptocurrency (Crypto): Digital money that lives on a blockchain (a special online database). Popular ones include Bitcoin and Ethereum.#ETF: (Exchange Traded Fund): A basket of investments that trades like a stock on a stock exchange. Imagine an ETF like a box holding a variety of candy bars; you buy the box (ETF) to get exposure to different candy bars (cryptocurrencies).SEC (Securities and Exchange Commission): A government agency that regulates financial markets to protect investors.
The Senators' concerns
Fraud: They worry that some crypto markets might be easy to manipulate, meaning someone could artificially inflate the price of a crypto. This could trick investors into buying something overpriced.Manipulation: Similar to fraud, they're concerned that someone could control the price of a crypto ETF, leading investors to make bad decisions.
Common questions you might have
Is this a bad sign for crypto? Not necessarily. It shows that regulators are cautious, which can be a good thing for overall market health.Should I invest in crypto ETFs? Crypto is a complex and volatile (meaning prices can swing wildly) investment. ETFs might offer a more controlled way to get some crypto exposure, but do your research before investing.
Here's what you can do
Research crypto and crypto ETFs: Understand how they work and the risks involved.Only invest what you can afford to lose: Crypto is a speculative investment, meaning its value is uncertain. Don't put in more money than you're comfortable potentially losing.Consider your investment goals: Are you looking for a long-term hold or short-term gains? Crypto might not be suitable for everyone.
Stay informed: Keep an eye on news and updates from the SEC and reliable cryptocurrency resources as mine 😍
__
#TrendingTopic #BTC
Will this have anything to do with the red market we currently have? I read you in the comments!
Let's break it down
Cryptocurrency (Crypto): Digital money that lives on a blockchain (a special online database). Popular ones include Bitcoin and Ethereum.#ETF: (Exchange Traded Fund): A basket of investments that trades like a stock on a stock exchange. Imagine an ETF like a box holding a variety of candy bars; you buy the box (ETF) to get exposure to different candy bars (cryptocurrencies).SEC (Securities and Exchange Commission): A government agency that regulates financial markets to protect investors.
The Senators' concerns
Fraud: They worry that some crypto markets might be easy to manipulate, meaning someone could artificially inflate the price of a crypto. This could trick investors into buying something overpriced.Manipulation: Similar to fraud, they're concerned that someone could control the price of a crypto ETF, leading investors to make bad decisions.
Common questions you might have
Is this a bad sign for crypto? Not necessarily. It shows that regulators are cautious, which can be a good thing for overall market health.Should I invest in crypto ETFs? Crypto is a complex and volatile (meaning prices can swing wildly) investment. ETFs might offer a more controlled way to get some crypto exposure, but do your research before investing.
Here's what you can do
Research crypto and crypto ETFs: Understand how they work and the risks involved.Only invest what you can afford to lose: Crypto is a speculative investment, meaning its value is uncertain. Don't put in more money than you're comfortable potentially losing.Consider your investment goals: Are you looking for a long-term hold or short-term gains? Crypto might not be suitable for everyone.
Stay informed: Keep an eye on news and updates from the SEC and reliable cryptocurrency resources as mine 😍
__
#TrendingTopic #BTC
#BlackRock Launches #Bitcoin #ETF: in Brazil: Financial giant BlackRock has launched a spot Bitcoin exchange-traded fund (ETF) in Brazil, marking its first official foray into the cryptocurrency market. This move is seen as a significant step towards mainstream adoption of Bitcoin, as BlackRock is a major investment firm with a large global presence.
#TrendingTopic #BTC
$BTC
#TrendingTopic #BTC
$BTC
See original
Minus instead of plus: initial results of trading in spot ETFs
The anticipation of the emergence of spot ETFs has been exciting the crypto industry for almost six months. On January 10, a significant event did happen. And what has changed?
Firstly, there is no talk of any Bitcoin rally. Moreover, by Sunday, January 14, BTC had already dropped below $43,000. While on January 11, at some point, it climbed above $49,000.
Secondly, the value of the shares of the ETFs themselves, like a carbon copy, first grew and then fell sharply. Undoubtedly, BlackRock, Fidelity, Valkyrie and other investment companies that stand behind the funds did not lose out. What about investors?
It is premature to say that ETFs have not lived up to, or better yet will not live up to, expectations. The fall and rise in value are natural processes with free pricing. One way or another, cryptocurrency occupies an increasingly larger place in people’s lives every year, and spot ETFs give large investors a new opportunity to invest (not directly) in digital assets.
#BTCUSD #btc- #ETF: #etf #ETFsApproval
$BTC
The anticipation of the emergence of spot ETFs has been exciting the crypto industry for almost six months. On January 10, a significant event did happen. And what has changed?
Firstly, there is no talk of any Bitcoin rally. Moreover, by Sunday, January 14, BTC had already dropped below $43,000. While on January 11, at some point, it climbed above $49,000.
Secondly, the value of the shares of the ETFs themselves, like a carbon copy, first grew and then fell sharply. Undoubtedly, BlackRock, Fidelity, Valkyrie and other investment companies that stand behind the funds did not lose out. What about investors?
It is premature to say that ETFs have not lived up to, or better yet will not live up to, expectations. The fall and rise in value are natural processes with free pricing. One way or another, cryptocurrency occupies an increasingly larger place in people’s lives every year, and spot ETFs give large investors a new opportunity to invest (not directly) in digital assets.
#BTCUSD #btc- #ETF: #etf #ETFsApproval
$BTC