On Thursday (November 28), Bitcoin rebounded above $96,500 before retreating to around $95,700. Dogecoin's daily gains exceeded 8%, with the first Dogecoin exchange-traded product (ETP) announced for listing in the Nordics. Bloomberg cited sources familiar with the matter, revealing that President-elect Trump’s transition team has interviewed senior financial regulators, including conservative financial insider Paul Atkins, as a candidate for SEC chairman.
According to U.S. media reports, current SEC commissioner Mark Uyeda, former Commodity Futures Trading Commission (CFTC) chairman Heath Tarbert, and Willkie Farr & Gallagher LLP partner Robert Stebbins are also being considered.
Trump spokesperson Caroline Levitt stated in a statement: 'Trump made a wise decision at lightning speed about who will serve in his second administration, and the remaining decisions will continue to be announced by him.'
Atkins served as a Republican commissioner of the U.S. Securities and Exchange Commission during the George W. Bush administration, and he later founded Patomak Global Partners, a consultancy for major clients in the financial sector.
He is a strong supporter of digital assets and fintech companies, and he has testified before Congress discussing how to restructure the agency's operations and reduce what some insiders consider redundant or overly burdensome regulation.
Trump promised to fire Gensler on 'Day One,' who has announced he will leave his position on January 20, 2025. Following a series of high-profile collapses, including the collapse of the FTX cryptocurrency exchange led by Sam Bankman-Fried, Gensler's SEC has developed an ambitious agenda to crack down on cryptocurrency.
Bloomberg points out that the cryptocurrency industry often criticizes Gensler for making regulations through enforcement rather than clearly outlining how to comply with rules, and this approach may change with the new administration. Trump described cryptocurrency as a scam against the dollar during his campaign but later welcomed it. He promised his supporters that he would establish a strategic Bitcoin reserve, appoint crypto-friendly regulators, and end the outgoing government's 'anti-crypto campaign.'
Under the new leadership, the SEC is expected to continue focusing on its core mission: rooting out fraud, combating insider trading, stopping Ponzi schemes, and curbing inaccurate, misleading, or overly exaggerated disclosures.
The first Dogecoin ETP listed in the Nordics
Bitcoinist reports that Valour Inc. launched a Dogecoin ETP on the Swedish Spotlight Stock Market, marking the world's first Dogecoin ETP listed in the Nordics. According to the press release, the new Dogecoin ETP will effectively expand the product offerings and audience of decentralized finance (DeFi) companies. Currently, Valour provides access to various regulated digital asset ETPs, including Bitcoin, Ethereum, and many mainstream cryptocurrencies.
The company has approximately 40 ETPs on the exchange, with total assets under management (AUM) of $609 million. With the new Dogecoin ETP, Valour can extend its services to new markets and investors, while Dogecoin is expected to gain broader adoption.
Valour revealed that the recently launched Dogecoin ETP will enable investors to access this popular meme coin more seamlessly, allowing them to understand its market performance without the risks or complexities of directly owning cryptocurrency.
Valour's product head Elaine Buehler revealed this latest development, stating that the launch of the world's first Dogecoin ETP marks an important milestone and aligns with the company's mission to democratize digital assets. Additionally, she expressed excitement about being able to launch a product that 'captures the essence of the active Dogecoin community and market influence.'
Bitcoin Technical Analysis
Economies.com states that Bitcoin's price successfully reached the awaited target of $95,820 and attempted to break through it, suggesting further increases in the upcoming trading days, paving the way for new gains, with the price aiming for $100,000 as the next major stop.
Considering that failing to confirm a breakout above $95,820 would put negative pressure on the price, the target is to retest $91,855.
