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📉💥 HONG KONG ETF FAILS TO IGNITE THE MARKET. WHAT NOW? 🚨
📉💔 Today's ETF launch in Hong Kong has sent shockwaves through the market, with unexpected consequences! Instead of boosting prices, it's caused a downward spiral, leaving investors reeling.
📉💼 As we brace for impact, all eyes are on the crucial support levels of 59,000~61,000. If they crumble, it could signal a flat bottom with no resistance, potentially plunging to 52,000 in a flash.
💡 So, it's time to be strategic. Identify Bitcoin and Ethereum for bottom buying. If they dip further, altcoins could be in for a rough ride, worse than dogs!
💰 Amidst the chaos, seasoned investors are seizing the opportunity to buy low, while newcomers panic. It's a rollercoaster of emotions as they navigate the turbulent market together.
📈 While short-term risks loom large, steadfast long-term holders are urged to hold onto their positions. Remember, in the midst of despair, lies hope.
🌟 Let's weather this storm together, my fellow investors.
Stay strong!
- @Professor Mende - Founder of BONUZ Project - in Dubai UAE out!
#bitcoinetf #Bitcoin #ETFDisaster #hongkong $BTC
📉💔 Today's ETF launch in Hong Kong has sent shockwaves through the market, with unexpected consequences! Instead of boosting prices, it's caused a downward spiral, leaving investors reeling.
📉💼 As we brace for impact, all eyes are on the crucial support levels of 59,000~61,000. If they crumble, it could signal a flat bottom with no resistance, potentially plunging to 52,000 in a flash.
💡 So, it's time to be strategic. Identify Bitcoin and Ethereum for bottom buying. If they dip further, altcoins could be in for a rough ride, worse than dogs!
💰 Amidst the chaos, seasoned investors are seizing the opportunity to buy low, while newcomers panic. It's a rollercoaster of emotions as they navigate the turbulent market together.
📈 While short-term risks loom large, steadfast long-term holders are urged to hold onto their positions. Remember, in the midst of despair, lies hope.
🌟 Let's weather this storm together, my fellow investors.
Stay strong!
- @Professor Mende - Founder of BONUZ Project - in Dubai UAE out!
#bitcoinetf #Bitcoin #ETFDisaster #hongkong $BTC
Bitcoin Shakes Off Binance News, Rises Above $37K as Spot ETF Approval Eyed
Bitcoin price remained resilient on Wednesday, despite news that Binance was facing a $4.3 billion fine from the US Department of Justice. The cryptocurrency rose above $37,000 as investors remain hopeful for the approval of a spot Bitcoin ETF.
#etf #BTC #bitcoinetf #BTCETFApproval
$BTC $SHIB $MEME
Bitcoin price remained resilient on Wednesday, despite news that Binance was facing a $4.3 billion fine from the US Department of Justice. The cryptocurrency rose above $37,000 as investors remain hopeful for the approval of a spot Bitcoin ETF.
#etf #BTC #bitcoinetf #BTCETFApproval
$BTC $SHIB $MEME
🚨 Bitcoin Analysis 🚨
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Click below for "Bitcoin Analysis" article
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Bitcoin Analysis (what you must know) 👀😱
Bitcoin's Current State and Potential for Growth
Recent developments in the cryptocurrency market have reignited optimism for Bitcoin's upward trajectory. Last week, Bitcoin experienced a significant recovery, providing an opportunity for bullish investors to push the price even higher.
On a weekly time frame, Bitcoin has successfully undergone a support-resistance (S/R) flip. Since breaking the $25,000 level in March, Bitcoin had not retested the previous resistance as support. However, with the price now approaching the critical $32,000 level, the market is currently under the control of the bulls.
A break above $32,000 would allow for the filling of an inefficiency that occurred during Bitcoin's drop from $40,000 last year. Given the rapid and thin decline in 2022, there is minimal resistance in this range. If the upside resistance at $32,000 is breached, Bitcoin could experience a swift rally, potentially reaching $37,000 in just one week.
4-Hour Chart
Analyzing the 4-hour chart provides a more detailed view of last week's rally and highlights Bitcoin's strength during the upward move. Since mid-April, Bitcoin had been in a gradual downtrend, steadily declining until it reached $25,000. Despite the 62-day drawdown, bears failed to capitalize on the perceived weakness and push the price back to $20,000.
Instead, the market trapped short sellers at the confirmed S/R flip mentioned earlier and retraced 62 days of the downtrend in just six days, resulting in a 20% rally. This significant movement served as a strong indicator for potential higher prices in the coming weeks and months.
CME GAP
The Chicago Mercantile Exchange (CME) is a well-known platform for trading futures and options, including Bitcoin. Traders have observed a phenomenon known as the "CME gap," which refers to the difference between the closing price on Fridays and the opening price on Sundays. It has been noted that the price often closes this gap on Mondays.
Currently, there is an outstanding CME gap between $34,500 and $36,000 that has remained open since May 2022. Considering the various factors suggesting Bitcoin is poised for a bullish expansion, there is a possibility that this gap will be filled soon. Filling the CME gap further supports the potential for Bitcoin to reach $37,000, as previously discussed. Breaking the $32,000 level is crucial for triggering a rapid and aggressive move towards $37,000.
Another positive development is Bitcoin reclaiming the 200-weekly moving average (200WMA). This moving average represents the average price of Bitcoin over the past 200 weeks. Losing the 200WMA a few weeks ago raised concerns, as it serves as a significant marker for determining bullish and bearish territories in Bitcoin's history. However, Bitcoin has now rallied away from the 200WMA, suggesting a shift in momentum and a more favorable outlook.
Cup and Handle Formation
Viewing Bitcoin's structure over the past 14 months from a high time frame perspective reveals a cup and handle formation. This pattern is generally considered bullish and indicates a potential upward move. Bitcoin formed a rounding bottom pattern between June 2022 and March 2022. Although the resistance of the pattern was tested in May 2022 and April 2023, resulting in rejection, it created a descending channel forming the handle of the cup.
Importantly, Bitcoin broke the downtrend of the handle and rallied upwards, currently testing the resistance level that formed the top of the cup. A break above the $31,000 to $32,000 resistance level would indicate the potential for Bitcoin to reach $40,000, based on the height of the cup. However, it is worth noting that such a high time frame pattern does not necessarily mean an immediate surge to $40,000. Moreover, Bitcoin doesn't have to reach $40,000 for the pattern to be confirmed. Reaching the $37,000 level, as discussed earlier, would provide confirmation and further support a bullish narrative in the coming weeks.
Fear and Greed Index
The Fear & Greed Index for Bitcoin is currently showing signs of greed, with a score of 59. This is expected as Bitcoin trades above the $30,000 level, which serves as a critical threshold for the bulls and bears. The score of 59 represents an increase of around 9 points from the previous month when the reading was more neutral, at 50.
The speculation surrounding BlackRock's potential spot Bitcoin ETF also contributes to this sense of greed. The anticipation of approval or manipulation by BlackRock has led to discussions and theories about the impact the ETF could have on the cryptocurrency market. This buzz has generated a fear of missing out (FOMO) cycle, further increasing the potential for Bitcoin's price to rise.
Conclusion
Recent developments indicate a positive outlook for Bitcoin's future growth. Various technical indicators, such as the S/R flip, the CME gap, reclaiming the 200WMA, and the cup and handle pattern, support the potential for Bitcoin to reach higher price levels. However, it is important to monitor market conditions closely, as a loss of the 200WMA could provide downside momentum. Additionally, the Fear & Greed Index and the impact of external factors, such as the potential approval of a Bitcoin ETF, should be considered when assessing Bitcoin's trajectory.
Like and Follow↗️ for more content. Don't miss the latest analysis or news when i post.
Recent developments in the cryptocurrency market have reignited optimism for Bitcoin's upward trajectory. Last week, Bitcoin experienced a significant recovery, providing an opportunity for bullish investors to push the price even higher.
On a weekly time frame, Bitcoin has successfully undergone a support-resistance (S/R) flip. Since breaking the $25,000 level in March, Bitcoin had not retested the previous resistance as support. However, with the price now approaching the critical $32,000 level, the market is currently under the control of the bulls.
A break above $32,000 would allow for the filling of an inefficiency that occurred during Bitcoin's drop from $40,000 last year. Given the rapid and thin decline in 2022, there is minimal resistance in this range. If the upside resistance at $32,000 is breached, Bitcoin could experience a swift rally, potentially reaching $37,000 in just one week.
4-Hour Chart
Analyzing the 4-hour chart provides a more detailed view of last week's rally and highlights Bitcoin's strength during the upward move. Since mid-April, Bitcoin had been in a gradual downtrend, steadily declining until it reached $25,000. Despite the 62-day drawdown, bears failed to capitalize on the perceived weakness and push the price back to $20,000.
Instead, the market trapped short sellers at the confirmed S/R flip mentioned earlier and retraced 62 days of the downtrend in just six days, resulting in a 20% rally. This significant movement served as a strong indicator for potential higher prices in the coming weeks and months.
CME GAP
The Chicago Mercantile Exchange (CME) is a well-known platform for trading futures and options, including Bitcoin. Traders have observed a phenomenon known as the "CME gap," which refers to the difference between the closing price on Fridays and the opening price on Sundays. It has been noted that the price often closes this gap on Mondays.
Currently, there is an outstanding CME gap between $34,500 and $36,000 that has remained open since May 2022. Considering the various factors suggesting Bitcoin is poised for a bullish expansion, there is a possibility that this gap will be filled soon. Filling the CME gap further supports the potential for Bitcoin to reach $37,000, as previously discussed. Breaking the $32,000 level is crucial for triggering a rapid and aggressive move towards $37,000.
Another positive development is Bitcoin reclaiming the 200-weekly moving average (200WMA). This moving average represents the average price of Bitcoin over the past 200 weeks. Losing the 200WMA a few weeks ago raised concerns, as it serves as a significant marker for determining bullish and bearish territories in Bitcoin's history. However, Bitcoin has now rallied away from the 200WMA, suggesting a shift in momentum and a more favorable outlook.
Cup and Handle Formation
Viewing Bitcoin's structure over the past 14 months from a high time frame perspective reveals a cup and handle formation. This pattern is generally considered bullish and indicates a potential upward move. Bitcoin formed a rounding bottom pattern between June 2022 and March 2022. Although the resistance of the pattern was tested in May 2022 and April 2023, resulting in rejection, it created a descending channel forming the handle of the cup.
Importantly, Bitcoin broke the downtrend of the handle and rallied upwards, currently testing the resistance level that formed the top of the cup. A break above the $31,000 to $32,000 resistance level would indicate the potential for Bitcoin to reach $40,000, based on the height of the cup. However, it is worth noting that such a high time frame pattern does not necessarily mean an immediate surge to $40,000. Moreover, Bitcoin doesn't have to reach $40,000 for the pattern to be confirmed. Reaching the $37,000 level, as discussed earlier, would provide confirmation and further support a bullish narrative in the coming weeks.
Fear and Greed Index
The Fear & Greed Index for Bitcoin is currently showing signs of greed, with a score of 59. This is expected as Bitcoin trades above the $30,000 level, which serves as a critical threshold for the bulls and bears. The score of 59 represents an increase of around 9 points from the previous month when the reading was more neutral, at 50.
The speculation surrounding BlackRock's potential spot Bitcoin ETF also contributes to this sense of greed. The anticipation of approval or manipulation by BlackRock has led to discussions and theories about the impact the ETF could have on the cryptocurrency market. This buzz has generated a fear of missing out (FOMO) cycle, further increasing the potential for Bitcoin's price to rise.
Conclusion
Recent developments indicate a positive outlook for Bitcoin's future growth. Various technical indicators, such as the S/R flip, the CME gap, reclaiming the 200WMA, and the cup and handle pattern, support the potential for Bitcoin to reach higher price levels. However, it is important to monitor market conditions closely, as a loss of the 200WMA could provide downside momentum. Additionally, the Fear & Greed Index and the impact of external factors, such as the potential approval of a Bitcoin ETF, should be considered when assessing Bitcoin's trajectory.
Like and Follow↗️ for more content. Don't miss the latest analysis or news when i post.
BlackRock's Bitcoin ETF: THE Bullish Catalyst for BTC Price Growth and Market Expansion
BlackRock is a global investment management corporation headquartered in New York City. Founded in 1988, it has become one of the largest and most influential asset management firms in the world. Initially, BlackRock focused on fixed income and active equity strategies. However, it gradually expanded its investment offerings to include alternative investments, real estate, and exchange-traded funds (ETFs).
Over the years, BlackRock has earned a reputation for its expertise in managing assets and delivering consistent returns to its clients. Its success can be attributed to a combination of disciplined investment strategies, advanced risk management techniques, and a deep understanding of global financial markets. The company's client base includes institutional investors, such as pension funds and insurance companies, as well as individual investors.
In recent times, BlackRock has recognized the growing popularity and potential of cryptocurrencies, particularly Bitcoin. In 2018, the company formed a working group to explore blockchain technology and cryptocurrencies. BlackRock's CEO, Larry Fink, has acknowledged that Bitcoin has the potential to evolve into a global market asset. He has also stated that the company is studying Bitcoin and other digital assets to better understand their long-term potential.
The emergence of the BlackRock Bitcoin ETF is seen as a bullish sign for Bitcoin's price growth, both in the short and long term. An ETF (Exchange-Traded Fund) is a financial product that tracks the price of an underlying asset, in this case, Bitcoin. It allows investors to gain exposure to Bitcoin without having to directly own and manage the cryptocurrency.
The introduction of a BlackRock Bitcoin ETF signifies a significant endorsement of Bitcoin by a reputable and influential institution. It enhances the legitimacy and mainstream acceptance of Bitcoin as an investable asset. This development can attract a broader range of investors, including traditional institutional investors, who may have been hesitant to enter the cryptocurrency market due to regulatory concerns or risk perception.
The increased demand for Bitcoin through the BlackRock Bitcoin ETF can have positive effects on its price in the short term. As more investors allocate capital to Bitcoin through the ETF, the demand for the cryptocurrency increases, potentially driving up its price. This demand can create a positive feedback loop, where rising prices attract more investors, further boosting the price.
In the long term, the BlackRock Bitcoin ETF can contribute to the growth and maturity of the cryptocurrency market. It paves the way for increased institutional involvement and investment in Bitcoin, which can lead to greater market liquidity, stability, and price discovery. Additionally, the involvement of a reputable asset management firm like BlackRock can enhance investor confidence and help alleviate concerns about the volatility and risks associated with cryptocurrencies.
However, it is important to note that the cryptocurrency market is still relatively young and subject to regulatory and market risks. While the BlackRock Bitcoin ETF can be seen as a positive development, it is always prudent to approach investments in cryptocurrencies with caution and conduct thorough research before making any financial decisions.
#crypto2023 #crypto #cryptocurrency #larryfink #bitcoinetf
Over the years, BlackRock has earned a reputation for its expertise in managing assets and delivering consistent returns to its clients. Its success can be attributed to a combination of disciplined investment strategies, advanced risk management techniques, and a deep understanding of global financial markets. The company's client base includes institutional investors, such as pension funds and insurance companies, as well as individual investors.
In recent times, BlackRock has recognized the growing popularity and potential of cryptocurrencies, particularly Bitcoin. In 2018, the company formed a working group to explore blockchain technology and cryptocurrencies. BlackRock's CEO, Larry Fink, has acknowledged that Bitcoin has the potential to evolve into a global market asset. He has also stated that the company is studying Bitcoin and other digital assets to better understand their long-term potential.
The emergence of the BlackRock Bitcoin ETF is seen as a bullish sign for Bitcoin's price growth, both in the short and long term. An ETF (Exchange-Traded Fund) is a financial product that tracks the price of an underlying asset, in this case, Bitcoin. It allows investors to gain exposure to Bitcoin without having to directly own and manage the cryptocurrency.
The introduction of a BlackRock Bitcoin ETF signifies a significant endorsement of Bitcoin by a reputable and influential institution. It enhances the legitimacy and mainstream acceptance of Bitcoin as an investable asset. This development can attract a broader range of investors, including traditional institutional investors, who may have been hesitant to enter the cryptocurrency market due to regulatory concerns or risk perception.
The increased demand for Bitcoin through the BlackRock Bitcoin ETF can have positive effects on its price in the short term. As more investors allocate capital to Bitcoin through the ETF, the demand for the cryptocurrency increases, potentially driving up its price. This demand can create a positive feedback loop, where rising prices attract more investors, further boosting the price.
In the long term, the BlackRock Bitcoin ETF can contribute to the growth and maturity of the cryptocurrency market. It paves the way for increased institutional involvement and investment in Bitcoin, which can lead to greater market liquidity, stability, and price discovery. Additionally, the involvement of a reputable asset management firm like BlackRock can enhance investor confidence and help alleviate concerns about the volatility and risks associated with cryptocurrencies.
However, it is important to note that the cryptocurrency market is still relatively young and subject to regulatory and market risks. While the BlackRock Bitcoin ETF can be seen as a positive development, it is always prudent to approach investments in cryptocurrencies with caution and conduct thorough research before making any financial decisions.
#crypto2023 #crypto #cryptocurrency #larryfink #bitcoinetf
💰 The total volume of #Bitcoin ETFs in the first 7 trading days is $19 billion
#bitcoin #btc #bitcoinetf #cryptonews #crypto
#bitcoin #btc #bitcoinetf #cryptonews #crypto
Social app Friendzone starts operating on Polygon Network
The social market Friendzone has started operating on the Polygon PoS blockchain and plans to expand to Polygon zkEVM (another blockchain developed by Polygon developers) later. It is reported that Friendzone was created by early team members of Band Protocol, Synthetix, and Koinly, and is aimed at the social application field.
#bitcoinetf
#bitcoinetf
More and more new analytics tools are coming as new Bitcoin ETF Tracker tool will be released this week, featuring detailed information about the daily ETF flows in USD as well as net assets, volume, and price of all currently active ETFs.
#ETFs✅ #bitcoinetf #ETFTracker #bitcoinetftracker #BitcoinETFs
#ETFs✅ #bitcoinetf #ETFTracker #bitcoinetftracker #BitcoinETFs
YES 🟢
68%
NO 🔴
32%
57 röster • Omröstningen avslutad
What is BlackRock Spot Bitcoin ETF?
The BlackRock Spot Bitcoin ETF is a type of investment fund offered by BlackRock, a large asset management company. It allows investors to buy shares that track the price of Bitcoin. Essentially, this ETF provides a way for people to invest in Bitcoin without having to buy and store the actual digital currency themselves. This makes it simpler and more accessible for those who want exposure to Bitcoin's price movements in their investment portfolio.
#BlackRockCrypto #BitcoinETFs #bitcoinetf $BTC
The BlackRock Spot Bitcoin ETF is a type of investment fund offered by BlackRock, a large asset management company. It allows investors to buy shares that track the price of Bitcoin. Essentially, this ETF provides a way for people to invest in Bitcoin without having to buy and store the actual digital currency themselves. This makes it simpler and more accessible for those who want exposure to Bitcoin's price movements in their investment portfolio.
#BlackRockCrypto #BitcoinETFs #bitcoinetf $BTC
Solana Releases Patch for Network Restart After Hours-Long Outage
Solana engineers have released a new validator software release, version v1.17.20, to upgrade and restart the Solana network after a significant outage. All Solana-related activities, including trading and staking, were halted after the network stopped processing blocks on Tuesday. Validator operators are asked to prepare for an upgrade and restart of the network, and once 80% of the stake has restarted, the cluster will resume block production. The Solana network has suffered over a dozen outages in the last few years due to the design of the system, which handles all their consensus on-chain.
#bitcoinetf
#bitcoinetf
Federal Judge Grants Ripple's Request for Extension of Time in SEC Lawsuit Discovery Requirements
A federal judge has granted Ripple's request to delay the deadline for remedies-related discovery by a week, which includes providing detailed financial statements and information on post-complaint XRP institutional sales. Ripple has agreed to comply with the order and all SEC requirements, but claims that providing three years of contracts for the sale of XRP is burdensome and will take time. The SEC and Ripple will prepare for legal briefs for proceedings in March and April, with the court deciding on which remedies to impose later. XRP's price has jumped 2% in the past 24 hours, currently trading at $0.52, while the trading volume has decreased by 5% in the last 24 hours.
#bitcoinetf
#bitcoinetf
Hong Kong listed company Huake Intelligent Investment Plan opened an account on HashKey Exchange in
HashKey Exchange announced that Huake Intelligent Investment Co., Ltd. ("Huake Intelligent Investment"), a Hong Kong-listed company, plans to open an account with HashKey Exchange in the name of its wholly-owned subsidiary in the fourth quarter.
Huake Intelligent Investment's move reflects its affirmation and attention to the development prospects of the Web3 industry. HashKey Exchange stated that the platform will provide secure, professional, and compliant digital asset trading services to Huake Intelligent Investment.
Huake Intelligent Investment plans to officially settle on the HashKey Exchange platform and conduct digital asset trading in the fourth quarter. In the future, HashKey Exchange will explore potential opportunities for in-depth cooperation with Huake Intelligent Investment, innovate in security and compliance, and provide users with safer and more convenient channels for digital asset investment.
As the regulatory environment becomes clearer, HashKey Exchange expects more high-quality institutions in the real economy to join the digital asset industry.
#bitcoinetf
Huake Intelligent Investment's move reflects its affirmation and attention to the development prospects of the Web3 industry. HashKey Exchange stated that the platform will provide secure, professional, and compliant digital asset trading services to Huake Intelligent Investment.
Huake Intelligent Investment plans to officially settle on the HashKey Exchange platform and conduct digital asset trading in the fourth quarter. In the future, HashKey Exchange will explore potential opportunities for in-depth cooperation with Huake Intelligent Investment, innovate in security and compliance, and provide users with safer and more convenient channels for digital asset investment.
As the regulatory environment becomes clearer, HashKey Exchange expects more high-quality institutions in the real economy to join the digital asset industry.
#bitcoinetf
Bitcoin ETF Listing Progresses as BlackRock, Nasdaq, and SEC Convene for Rule Change Discussions
BlackRock, Nasdaq, and the SEC have met for the second time to discuss rule changes required for listing a Bitcoin ETF.The meeting focused on Nasdaq Rule 5711(d), which outlines criteria for listing Commodity-Based Trust Shares, with an emphasis on surveillance and compliance to mitigate market manipulation risks.
Advancing Towards a Bitcoin ETF Listing
In a move signaling progress towards the listing of a Bitcoin exchange-traded fund (ETF), representatives from financial giant BlackRock, global exchange operator Nasdaq, and the U.S. Securities and Exchange Commission (SEC) have convened for their second meeting within a month. This gathering underscores the growing efforts to integrate Bitcoin into mainstream financial markets.
Deliberating on Key Regulatory Requirements
The focal point of the discussion was Nasdaq Rule 5711(d), a crucial regulatory framework that establishes the criteria for listing and trading Commodity-Based Trust Shares, such as a potential Bitcoin ETF, on the Nasdaq Exchange. This rule encompasses detailed requirements for initial and continued listing, alongside stringent surveillance and compliance measures aimed at ensuring market integrity and safeguarding against fraudulent activities.
Mitigating Market Manipulation Concerns
A key aspect of the meeting revolved around the inclusion of a surveillance-sharing agreement, a measure designed to address the SEC’s concerns about the risks of market manipulation in crypto trading. This agreement is crucial for gaining regulatory approval, as it demonstrates a commitment to maintaining a fair and transparent trading environment for the proposed Bitcoin ETF.
BlackRock’s Revised ETF Proposal
Recently, BlackRock revised its spot Bitcoin ETF proposal to include cash redemptions, a modification aimed at aligning with the SEC’s preferences. This change reflects BlackRock’s adaptability and willingness to meet regulatory standards, potentially paving the way for the SEC’s approval of their ETF application.
Implications for Bitcoin’s Future
The potential listing of a Bitcoin ETF holds significant implications for the cryptocurrency market. As noted by MicroStrategy CEO Michael Saylor in a recent Bloomberg TV interview, the approval of Bitcoin ETFs could mark a major development for Wall Street. Saylor anticipates that such an event could trigger a substantial bull run for Bitcoin in 2024, driven by increased demand and a consequent supply shock.
In conclusion, the collaborative efforts of BlackRock, Nasdaq, and the SEC in navigating the complexities of ETF listing regulations signify a crucial step towards the integration of Bitcoin into conventional financial frameworks. This development not only reflects the growing acceptance of cryptocurrencies but also highlights the evolving landscape of financial regulation in the digital age.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#bitcoinetf #BlackRock
Advancing Towards a Bitcoin ETF Listing
In a move signaling progress towards the listing of a Bitcoin exchange-traded fund (ETF), representatives from financial giant BlackRock, global exchange operator Nasdaq, and the U.S. Securities and Exchange Commission (SEC) have convened for their second meeting within a month. This gathering underscores the growing efforts to integrate Bitcoin into mainstream financial markets.
Deliberating on Key Regulatory Requirements
The focal point of the discussion was Nasdaq Rule 5711(d), a crucial regulatory framework that establishes the criteria for listing and trading Commodity-Based Trust Shares, such as a potential Bitcoin ETF, on the Nasdaq Exchange. This rule encompasses detailed requirements for initial and continued listing, alongside stringent surveillance and compliance measures aimed at ensuring market integrity and safeguarding against fraudulent activities.
Mitigating Market Manipulation Concerns
A key aspect of the meeting revolved around the inclusion of a surveillance-sharing agreement, a measure designed to address the SEC’s concerns about the risks of market manipulation in crypto trading. This agreement is crucial for gaining regulatory approval, as it demonstrates a commitment to maintaining a fair and transparent trading environment for the proposed Bitcoin ETF.
BlackRock’s Revised ETF Proposal
Recently, BlackRock revised its spot Bitcoin ETF proposal to include cash redemptions, a modification aimed at aligning with the SEC’s preferences. This change reflects BlackRock’s adaptability and willingness to meet regulatory standards, potentially paving the way for the SEC’s approval of their ETF application.
Implications for Bitcoin’s Future
The potential listing of a Bitcoin ETF holds significant implications for the cryptocurrency market. As noted by MicroStrategy CEO Michael Saylor in a recent Bloomberg TV interview, the approval of Bitcoin ETFs could mark a major development for Wall Street. Saylor anticipates that such an event could trigger a substantial bull run for Bitcoin in 2024, driven by increased demand and a consequent supply shock.
In conclusion, the collaborative efforts of BlackRock, Nasdaq, and the SEC in navigating the complexities of ETF listing regulations signify a crucial step towards the integration of Bitcoin into conventional financial frameworks. This development not only reflects the growing acceptance of cryptocurrencies but also highlights the evolving landscape of financial regulation in the digital age.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#bitcoinetf #BlackRock
Crypto asset manager Valkyrie files for Spot Bitcoin ETF, naming Coinbase as SSA counterpart.
Crypto asset manager Valkyrie has filed for a spot Bitcoin ETF while listing Coinbase as an SSA counterpart. Moreover, following similar filings, the firm has included the Surveillance Sharing Agreement (SSA) to better comply with the US Securities and Exchange Commission (SEC) standards.
The rise in Spot Bitcoin ETF filings has been notable since BlackRock initially filed this month. Subsequently, fellow asset management behemoth Fidelity filed suit. Additionally, both utilized Coinbase in their SSA proposals. Specifically to combat initial SEC responses to the filings.
Valkyrie Files for Spot Bitcoin ETF
The digital asset industry was surprised this month when asset management firm BlackRock filed for a Spot Bitcoin ETF. Thereafter, the industry was even more surprised when a fellow firm, Fidelity, also opted to enter the Bitcoin ETF race. Subsequently, the entry of two large names in traditional finance has seemingly increased the ETF race that is currently ongoing.
Now, crypto asset manager Valkyrie has filed for a Spot Bitcoin ETF. Moreover, they have also noted Coinbase as an SSA counterpart. The decision is set to counter various SEC concerns over the potential market manipulation of the offering. Something that Coinbase’s inclusion will hopefully address.
Bloomberg Analyst Eric Balchunas noted that Valkyrie has re-filed a 19b-4 form, similar to BlackRock. Indeed, Balchunas noted that their inclusion of the SSA agreement “seems more aggressive” in its wording. Moreover, he noted that they refer to Coinbase as the “largest,” spot Bitcoin exchange.
Valkyrie is yet another name that has sought entry into the Bitcoin ETF market. Yet, the product’s arrival will ultimately depend on the decisions made by the SEC. To this point, the regulatory agency has yet to approve the creation of a spot Bitcoin ETF. Now, only time will tell if that changes with the flurry of applications that have been submitted in recent weeks.
#Coinbase #bitcoinetf
#Valkyrie
The rise in Spot Bitcoin ETF filings has been notable since BlackRock initially filed this month. Subsequently, fellow asset management behemoth Fidelity filed suit. Additionally, both utilized Coinbase in their SSA proposals. Specifically to combat initial SEC responses to the filings.
Valkyrie Files for Spot Bitcoin ETF
The digital asset industry was surprised this month when asset management firm BlackRock filed for a Spot Bitcoin ETF. Thereafter, the industry was even more surprised when a fellow firm, Fidelity, also opted to enter the Bitcoin ETF race. Subsequently, the entry of two large names in traditional finance has seemingly increased the ETF race that is currently ongoing.
Now, crypto asset manager Valkyrie has filed for a Spot Bitcoin ETF. Moreover, they have also noted Coinbase as an SSA counterpart. The decision is set to counter various SEC concerns over the potential market manipulation of the offering. Something that Coinbase’s inclusion will hopefully address.
Bloomberg Analyst Eric Balchunas noted that Valkyrie has re-filed a 19b-4 form, similar to BlackRock. Indeed, Balchunas noted that their inclusion of the SSA agreement “seems more aggressive” in its wording. Moreover, he noted that they refer to Coinbase as the “largest,” spot Bitcoin exchange.
Valkyrie is yet another name that has sought entry into the Bitcoin ETF market. Yet, the product’s arrival will ultimately depend on the decisions made by the SEC. To this point, the regulatory agency has yet to approve the creation of a spot Bitcoin ETF. Now, only time will tell if that changes with the flurry of applications that have been submitted in recent weeks.
#Coinbase #bitcoinetf
#Valkyrie
🚨 BREAKING: Spot $BTC ETF approval potential next week! Anthony Scaramucci, Director of Communications and Founder of SkyBridge Capital, revealed in an interview. Big players are anticipating an #ETF soon!! 🌐📈
#bitcoinetf #cryptonews #BTC!💰
#bitcoinetf #cryptonews #BTC!💰
Total trading volume for spot ETFs in the US over 3 days approached $10 billion. In comparison, the combined trading volume for all 500 ETFs launched in the US in 2023 was only $450 million. $BTC #bitcoinetf
Meta Partners with Google: Bitcoin ETF Ads on Facebook and Instagram
Meta and other major social media platforms are actively considering advertising opportunities in the cryptocurrency space, particularly with the recent regulatory clarity.
Big tech giants are increasingly embracing the cryptocurrency market, with regulated products like Bitcoin ETFs witnessing significant inflows over the past 20 days. Following the recent launch of Bitcoin ETF ads on Google Search and YouTube, other players such as Meta are expected to follow suit.
Nate Geraci, President of ETF Store, suggests that Facebook and Instagram may soon allow advertisements for spot Bitcoin Exchange-Traded Funds (ETFs), signaling a possible change in advertising policies on popular social media platforms.
Geraci’s observations indicate that opening up to ads related to spot Bitcoin ETFs could broaden the reach of these products, particularly on platforms like Facebook, known for its significant demographic of older users.
The intersection of cryptocurrency and ETF markets highlights the potential significance of major social media platforms embracing Bitcoin ETF advertisements.
Moreover, launching Bitcoin ETF ads on platforms like Facebook and Instagram, which have large user bases of millennials and Gen Z, could be particularly intriguing. However, not all platforms may be open to offering crypto ads.
Meta (NASDAQ: META) Stock Surges After Dividend Announcement
Meta, parent company of Facebook, saw its stock price soar by a remarkable 20% on Friday, February 2, following the announcement of its first dividend payout. The company has authorized $50 billion for share buybacks and declared a quarterly dividend of 50 cents per share.
This surge in stock price comes amidst robust results and strong returns from Meta’s investments in emerging technologies like the “metaverse.” The boost in stock value is expected to enhance investor confidence in Meta, which has faced challenges in recent times. The company’s restructuring efforts have proven successful, with a focus on cost reduction leading to the departure of over 21,000 employees since late 2022. CEO Mark Zuckerberg has dubbed 2023 as the “Year of Efficiency.”
Furthermore, Meta is poised to compete with tech giants such as Microsoft and Alphabet in the AI space. The company has showcased advancements in AI with the introduction of the Llama 2 model, and the upcoming Llama 3 indicates ongoing innovation in this field.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#bitcoinetf #Facebook #Instagram
Big tech giants are increasingly embracing the cryptocurrency market, with regulated products like Bitcoin ETFs witnessing significant inflows over the past 20 days. Following the recent launch of Bitcoin ETF ads on Google Search and YouTube, other players such as Meta are expected to follow suit.
Nate Geraci, President of ETF Store, suggests that Facebook and Instagram may soon allow advertisements for spot Bitcoin Exchange-Traded Funds (ETFs), signaling a possible change in advertising policies on popular social media platforms.
Geraci’s observations indicate that opening up to ads related to spot Bitcoin ETFs could broaden the reach of these products, particularly on platforms like Facebook, known for its significant demographic of older users.
The intersection of cryptocurrency and ETF markets highlights the potential significance of major social media platforms embracing Bitcoin ETF advertisements.
Moreover, launching Bitcoin ETF ads on platforms like Facebook and Instagram, which have large user bases of millennials and Gen Z, could be particularly intriguing. However, not all platforms may be open to offering crypto ads.
Meta (NASDAQ: META) Stock Surges After Dividend Announcement
Meta, parent company of Facebook, saw its stock price soar by a remarkable 20% on Friday, February 2, following the announcement of its first dividend payout. The company has authorized $50 billion for share buybacks and declared a quarterly dividend of 50 cents per share.
This surge in stock price comes amidst robust results and strong returns from Meta’s investments in emerging technologies like the “metaverse.” The boost in stock value is expected to enhance investor confidence in Meta, which has faced challenges in recent times. The company’s restructuring efforts have proven successful, with a focus on cost reduction leading to the departure of over 21,000 employees since late 2022. CEO Mark Zuckerberg has dubbed 2023 as the “Year of Efficiency.”
Furthermore, Meta is poised to compete with tech giants such as Microsoft and Alphabet in the AI space. The company has showcased advancements in AI with the introduction of the Llama 2 model, and the upcoming Llama 3 indicates ongoing innovation in this field.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#bitcoinetf #Facebook #Instagram
JP Morgan analyst: If Grayscale does not reduce GBTC management fees, it may lead to further capital
Morgan Stanley analysts stated in a recent report that if Grayscale does not effectively reduce fees, more funds may flow out of GBTC. BlackRock charges only 0.12% in fees, Fidelity charges 0.25%, Cathie Wood's Ark Invest fund currently has no fees and will rise to 0.21% after six months, while Grayscale GBTC's management fee is 1.5%. The report shows that Grayscale's current difficulties are not limited to fees, as the difference between GBTC's stock price and the net asset value per share at the close, as well as the "Hui-Heubel liquidity ratio" representing market breadth, are both behind BlackRock and Fidelity.
#bitcoinetf
#bitcoinetf
You focus too much on your ego ... if you change your attitude by focusing more on trading and trading levels your long-term success will be well rewarded
Level by level eliminates the noise.
#xrp #bitcoinetf #etf #bitcoin
Level by level eliminates the noise.
#xrp #bitcoinetf #etf #bitcoin
