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  • Bitwise and VanEck to donate 10% ETF profits following SEC’s spot Bitcoin ETFs approval

    Bitwise and VanEck to donate 10% ETF profits following SEC’s spot Bitcoin ETFs approval

    • SEC approves spot Bitcoin ETFs: A historic moment for mainstream crypto integration.
    • Bitwise and VanEck donate 10% ETF profits to Bitcoin development: Philanthropy meets finance.
    • Meme Moguls emerges as the world’s first meme-backed stock market, aiming for 100x growth.

    After the US Securities and Exchanges Commission’s (SEC) spot Bitocin approval, Bitwise, a major asset management player, has declared its intention to donate 10% of the profits from its recently approved Bitcoin ETF, BITB, to the development of Bitcoin’s open-source ecosystem.

    Bitwise stated that its Bitcoin ETF $BITB would begin trading on 1/112024 with a 0% fee through 7/10/24 (on the fund’s first $1B in assets; 0.20% after).

    This philanthropic move follows a similar commitment from VanEck, adding a new dimension to the intersection of traditional finance and cryptocurrency. Meanwhile, the emergence of Meme Moguls, a crypto platform integrating memes with trading, promises a unique venture in the crypto space.

    SEC approves spot Bitcoin ETFs

    In a historic move, the US Securities and Exchange Commission approved spot Bitcoin ETFs, marking a monumental moment in the financial world. This approval opens the floodgates for investors to directly participate in the cryptocurrency market through exchange-traded funds, providing a more regulated and accessible avenue for BTC investment.

    This decision triggered a surge in Bitcoin prices, briefly touching the $47,000 mark. Analysts anticipate increased capital inflow into the cryptocurrency space as investors, both institutional and retail, explore these newly approved financial products.

    As the market speculates on potential pullbacks, the SEC’s endorsement signifies a growing acceptance and integration of cryptocurrencies into mainstream financial instruments.

    Bitwise and VanEck 10% profit donation for Bitcoin development

    Bitwise’s commitment to donating 10% of BITB profits to Bitcoin development echoes a similar initiative by VanEck, another prominent financial institution. Both companies pledge to direct a percentage of their ETF profits to support the open-source development of Bitcoin, showcasing a shared vision for the cryptocurrency’s sustained growth.

    Bitwise, having filed for a spot Bitcoin ETF five years ago, sees the recent approval as a significant milestone. The company envisions BITB as the ETF best suited for the evolving crypto landscape, and this philanthropic endeavour aligns with its dedication to fostering a robust Bitcoin ecosystem.

    These donations will benefit organizations such as Brink, OpenSats, and the Human Rights Foundation, emphasizing a commitment to diverse causes within the Bitcoin community. Importantly, these contributions come with no strings attached, ensuring a transparent and altruistic approach to supporting the foundational aspects of the Bitcoin network.

    Meme Moguls: where to trade memes

    On another front, Meme Moguls introduces a novel concept by merging memes with a trading ecosystem. Positioned as the world’s first meme-backed stock market, Meme Moguls aims to leverage the power of memes for financial gains. The platform offers diverse meme-inspired assets, a trading platform, a fantasy trader game, a casino, and a metaverse world known as Mogul Land.

    Participants can accumulate $MGLS tokens by engaging with the platform, staking tokens, and actively trading meme-inspired assets. With a focus on becoming the next 100x token, Meme Moguls aims to create millionaires within the first three months of launch. The ecosystem’s tokenomics, with 60% allocated to the presale, indicates a strategic approach to fueling the platform’s growth.

    Is Meme Moguls (MGLS) a good investment?

    As the cryptocurrency market continues to witness innovative ventures, potential investors may ponder whether Meme Moguls (MGLS) is a worthy addition to their portfolios especially now that the US SEC has approved spot Bitcoin ETFs for trading.

    The platform’s unique features, including a fantasy trader game, a casino, and the promise of creating millionaires, contribute to its appeal. However, as with any investment, individuals are advised to conduct thorough research, considering the inherent risks associated with the cryptocurrency market.

    To invest in the Meme Moguls (MGLS) token, you can visit the official website where the token’s presale is currently ongoing. The presale is currently in its fourth stage and the $MGLS token is going for   $0.0027.

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  • Gensler issues warning ahead of SEC’s Spot Bitcoin ETF decision

    Gensler issues warning ahead of SEC’s Spot Bitcoin ETF decision

    • Spot Bitcoin ETF applicants strategically adjust fees ahead of potential SEC approval.
    • Invesco, Valkyrie, and WisdomTree reduce costs to attract investors.
    • Gensler’s cautionary note; SEC emphasizes risks in cryptocurrency investments, warning of unique challenges.

    As the crypto community eagerly awaits the SEC’s decision on Spot Bitcoin ETFs, recent developments have intensified the competition among ETF providers.

    In the midst of the hype, Gary Gensler, the SEC Chairman, has issued a cautionary message, emphasizing the risks associated with cryptocurrency investments. The warning comes amid a flurry of activity from ETF applicants, with some dropping proposed management fees.

    The stage is set for a potential revolution in the crypto landscape, but Gensler’s words serve as a stark reminder of the challenges that lie ahead.

    Spot Bitcoin ETF applicants compete to slash fees

    Various ETF providers are vying for approval of their Spot Bitcoin ETFs, anticipating a green light from the SEC. In a bid to attract investors, providers like Invesco, Valkyrie, and WisdomTree have slashed their proposed management fees. Invesco dropped its fee to 0.39% annually, while Valkyrie and WisdomTree reduced theirs to 0.49% and 0.2%, respectively.

    The strategic fee adjustments aim to stand out in a crowded field and potentially lure investors into what is becoming a highly competitive landscape.

    This fee-cutting frenzy extends beyond mere reductions, with WisdomTree going a step further by announcing a fee waiver for the initial $1 billion in assets under management. This bold move appears to be a marketing tactic, creating a sense of FOMO (fear of missing out) around WisdomTree’s ETF launch.

    Other providers, including Bitwise, ARK/21Shares, Invesco, and iShares (BlackRock), are also adopting similar strategies, offering lower or zero fees for the first months or tranches of AUM.

    Gensler’s cautionary note: emphasis on investor protection

    Amidst the excitement surrounding potential Spot Bitcoin ETF approvals, Gary Gensler has reiterated the SEC’s concerns about cryptocurrency investments. Quoting an SEC article, Gensler warned potential investors to exercise caution, emphasizing the unique risks associated with crypto securities.

    The article cited by Gensler highlights the SEC’s unease about the lack of regulatory protections in the cryptocurrency market compared to traditional securities markets. Gensler’s message serves as a sobering reminder to market participants, urging them to thoroughly research and evaluate the risks before diving into the world of cryptocurrencies.

    The juxtaposition of the heated fee completion and Gensler’s regulatory caution sets the stage for a pivotal moment in the crypto space. As the SEC’s decision looms, market participants are waiting with bated breath to see whether the SEC will approve or deny the spot Bitcoin ETF applications. If approved, the price of Bitcoin could see some major upward swings and if denied the opposite could be the case.

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  • Grayscale’s GBTC tops ETFs, Standard Chartered bullish on BTC, Meme Moguls trending in BTC ETF buzz

    Grayscale’s GBTC tops ETFs, Standard Chartered bullish on BTC, Meme Moguls trending in BTC ETF buzz

    • Standard Chartered forecasts $200K Bitcoin by late 2025, banking on ETF approval.
    • Grayscale’s GBTC outpaces 99% of ETFs, trading close to half a billion dollars.
    • Meme Moguls, a meme-backed stock market, enters the crypto space with presale buzz.

    As the crypto world buzzes with anticipation over the potential approval of spot Bitcoin ETFs in the US, major players are making bold predictions. Standard Chartered forecasts a staggering $200,000 target for Bitcoin by late 2025, contingent on ETF approval.

    Simultaneously, Grayscale’s Bitcoin Trust (GBTC) is making waves, outpacing the majority of ETFs in trading volume. Amidst this, a new player, Meme Moguls, is poised to capitalize on the ETF momentum.

    Standard Chartered’s $200K Bitcoin projection with ETF approval

    Standard Chartered, a banking giant, has made a striking projection for Bitcoin’s future. The multinational firm predicts a potential surge to nearly $200,000 by late 2025, riding on the approval and success of Bitcoin exchange-traded funds (ETFs) in the US. This optimistic forecast, shared on X by Entrepreneur and Bitcoin investor Lark Davis, is underpinned by the belief that spot Bitcoin ETFs could attract significant inflows, ranging from $50-100 billion in 2024.

    The bank’s Head of Digital Assets, Geoff Kendrick, and Precious Metals Analyst Suki Cooper base this projection on the assumption that US-listed spot Bitcoin ETFs could hold a substantial amount of Bitcoin by the end of 2024, potentially multiplying its current price by 4.3 times. Kendrick and Cooper draw parallels with the growth trajectory of gold exchange-traded products, envisioning a more rapid ascent for Bitcoin given the expected faster development of the BTC ETF market.

    Grayscale’s GBTC outpaces ETFs in trading volume

    While Standard Chartered makes forward-looking predictions, Grayscale’s Bitcoin Trust (GBTC) has already demonstrated significant prowess.

    According to industry expert Eric Balchunas, GBTC traded close to half a billion dollars on January 8, surpassing over 99% of the approximately 3,000 existing ETFs. Balchunas points out that if spot Bitcoin ETFs get approved, Grayscale will enter the market with substantial trading volume, giving it a significant advantage over its competitors.

    Meme Moguls seizing the opportunities amid the ETF buzz

    In the midst of the ETF buzz, a newcomer is entering the arena – Meme Moguls. This platform positions itself as the world’s first meme-backed stock market/exchange. As the crypto community eagerly awaits the potential approval of spot Bitcoin ETFs, Meme Moguls aims to capitalize on the growing interest in the cryptocurrency market.

    The Meme Moguls ecosystem is powered by the Meme Moguls Governance Token ($MGLS), featuring diverse meme-inspired assets and engaging community-driven features like a casino, trading platform, fantasy trader, and a metaverse world named Mogul Land.

    Meme Moguls is currently in the presale stage of its MGLS token, offering participants an opportunity to get involved in the world of meme trading and potentially become part of a groundbreaking utility-based memecoin. With a $10,000 giveaway at the end of each presale stage and ambitious plans to create 100 millionaires within the first three months of launch, Meme Moguls is setting high expectations.

    In the presale’s current stage, participants can access $MGLS for $0.0027, with a total supply of 3 billion tokens. Analysts predict substantial growth for $MGLS, aligning with the overall bullish sentiment in the cryptocurrency market.

    Conclusion

    In this dynamic landscape, where traditional financial institutions make ambitious forecasts, established entities like Grayscale showcase real-time strength, and emerging platforms like Meme Moguls strive to carve their niche, the crypto market remains an ever-evolving space.

    As the spotlight remains on the potential approval of spot Bitcoin ETFs, these developments mark significant steps in the maturation of the cryptocurrency ecosystem.

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  • Shiba Memu’s presale and SEC’s latest Bitcoin ETF news

    Shiba Memu’s presale and SEC’s latest Bitcoin ETF news

    • Shiba Memu on the cusp of market debut as SEC sets deadline for ETF amendments.
    • The SHMU presale ends on December 30, 2023, with debut on crypto exchanges to follow.
    • The SEC has asked spot Bitcoin ETF applicants to submit final changes by December 29, 2023.

    The crypto market is eyeing what could be a 2024 bonanza, with bullish sentiment around the SEC’s potential approval for a spot Bitcoin ETF the leading catalyst. Alongside a few attractively poised altcoins is Shiba Memu, a presale token that’s on the cusp of its market debut.

    Here’s a highlight of the latest crypto news likely to be key this week. Also assess Shiba Memu presale, now down to just three days.

    SEC sets Dec. 29 deadline for spot Bitcoin ETF amendments

    The anticipation for a first spot Bitcoin exchange-traded fund (ETF) for the US market is set to rise further this week. This is after it emerged that the Securities and Exchange Commission (SEC) has asked all applicants seeking to list the ETF to file amendments to their filings by December 29, 2023.

    SEC’s reported deadline for applicants comes after the regulator held multiple meetings with various firms looking to offer spot Bitcoin ETFs last week.

    At least two companies were reportedly asked to submit final changes to their appplications by the stated date. Participants during the last meeting with the SEC were told that any applicant that fails to file final amendements by this Friday should not expect to be among the “first wave” of potential approvals.

    While the crypto market buzz has cooled amid the holiday trading lull and as Mt.Gox reportedly begins to repay some of its creditors, the overall outlook is that Bitcoin is poised for a prolonged dose of upside pressure.

    The altcoin market is similarly poised, and investors out to unlock the next bull cycle gem are betting big on low cap bargain tokens.

    Shiba Memu: On the cusp of presale success

    Meme tokens have exploded onto the scene in recent months, with resurgences for Dogecoin and Shiba Inu paled by the explosive surge for Solana-based Bonk (BONK). But with the market in the mood for a longer bull rally catalysed by Bitcoin ETFs and halving, investors keen on tapping into the potential of Shiba Memu are flocking to its presale.

    The project, which outlines a new artificial intelligence powered meme coin with real-world utility, is now just three days to the presale close. As of December 27, 2023, investors have allocated over $4.8 million into SHMU to support the project’s development.

    After the presale, Shiba Memu is expected to make its market debut on top crypto exchanges, likely entering the market during the forecast upward trajectory in Q1, 2024. The unique AI-powered marketing dashboard, staking program and integration with decentralised applications (dApps) is also outlined on the roadmap.

    SHMU is currently priced at $0.05028 and could be one of the top meme coins to buy given its potential to redefine how meme-inspired crypto projects gain long term traction. Rather than rely on hype, Shiba Memu will be a self-sufficient marketing machine, capable of challenging the top tokens such as Dogecoin and Shiba Inu.

    To check out Shiba Memu’s features and tokenomics, read their whitepaper. You can also join the presale.

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  • Galaxy Digital CEO predicts Bitcoin ETF approval by January 10 as Everlodge tokenizes real estate

    Galaxy Digital CEO predicts Bitcoin ETF approval by January 10 as Everlodge tokenizes real estate

    • Galaxy Digital CEO predicts Bitcoin ETF approval by Jan 10, citing market dynamics and SEC urgency.
    • Everlodge disrupts real estate with blockchain and fractional ownership.
    • Everlodge’s ELDG token features discounts, rewards, and staking; the Beta presale stage attracts investor attention.

    Galaxy Digital CEO Michael Novogratz’s recent insights into the highly anticipated Bitcoin ETF approval set the stage for a dynamic landscape for Bitcoin (BTC) and the entire crypto market.

    As Bitcoin continues to make waves, Everlodge, a unique property marketplace, enters the fray with an innovative approach to fractional vacation home ownership. This article delves into Novogratz’s predictions, the significance of January 10th, and why the Everlodge presale is capturing attention as a promising investment opportunity.

    Bitcoin ETF approval anticipation 

    Michael Novogratz, the CEO of Galaxy Digital, has sparked excitement in the cryptocurrency community with his bold prediction regarding the approval of spot Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). In a recent CNBC interview, Novogratz pointed out Bitcoin’s remarkable 150% surge over the past year, attributing this bullish trend to the Federal Reserve’s dovish stance.

    The anticipation revolves around the critical date of January 10th, a potential deadline with legal implications. Novogratz confidently stated, “We’re gonna get this ETF before Jan. 10.” He underscored the urgency tied to SEC Chair Gary Gensler and potential legal repercussions involving Grayscale, adding a layer of significance to this anticipated milestone.

    Everlodge: revolutionizing fractional vacation home ownership

    Transitioning from the dynamic Bitcoin landscape, Everlodge emerges as a disruptive force in the real estate market.

    Everlodge positions itself as a property marketplace that allows users to fractionally invest in hotels, vacation homes, and luxury villas, leveraging blockchain technology. What sets Everlodge apart is its integration of fractional vacation home ownership, timeshare, and NFT technology, creating a unique amalgamation of traditional and cutting-edge approaches. It digitizes and fractionalizes real estate, allowing users to invest in smaller amounts while enjoying the potential for value appreciation.

    Everlodge is currently in the presale stage of its native token, EDLG, which has become a focal point for investors seeking diverse investment opportunities. The EDLG presale, currently in its Beta stage, offers a unique chance to get involved in the world’s first property marketplace for fractional vacation home ownership.

    The ELDG token offers holders discounts on property purchases, rewards in the form of free nightly stays, and staking opportunities for fixed monthly interest. The Everlodge ecosystem, comprising a marketplace, launchpad, rewards club, and lending platform, adds layers of utility to the token.

    Conclusion

    Novogratz’s optimism extends to the regulatory front. While acknowledging hurdles posed by certain politicians and corporate leaders, including Elizabeth Warren and the Biden White House, he sees potential progress through a bipartisan group.

    The convergence of Galaxy Digital’s Bitcoin ETF predictions and Everlodge’s groundbreaking approach to property ownership sets the stage for a dynamic period in the financial and real estate markets. Investors and enthusiasts alike are navigating this landscape with cautious optimism, looking towards January 10th and beyond.

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  • First Trust seeks SEC approval for Bitcoin ‘Buffer ETF’ to safeguard investors

    First Trust seeks SEC approval for Bitcoin ‘Buffer ETF’ to safeguard investors

    • First Trust files for Bitcoin Buffer ETF with SEC, aiming to mitigate risk via options.
    • Buffer ETFs gaining momentum, 139 trading on US markets, $32.54B AUM.
    • Buffer ETFs don’t guarantee complete protection, or assess risks.

    Financial services firm First Trust has recently submitted a filing with the US Securities and Exchange Commission (SEC) to launch a groundbreaking investment product – the First Trust Bitcoin Buffer ETF.

    Unlike traditional spot Bitcoin ETFs, this innovative fund aims to provide investors with a unique risk mitigation strategy, utilizing options to safeguard against potential market downturns. Let’s delve into the details of this latest development in the cryptocurrency investment space.

    First Trust’s Bitcoin Buffer ETF filing

    First Trust’s move to file for the Bitcoin Buffer ETF signals a shift in the cryptocurrency investment landscape. This ETF is distinct from spot Bitcoin offerings, as it utilizes options to pursue a defined investment outcome. Acting as a buffer, it imposes a limit on potential losses during market drops.

    First Trust’s ETF is structured to participate in the positive price returns of the Grayscale Bitcoin Trust or other Bitcoin-related exchange-traded products (ETPs), providing investors with a unique approach to risk management.

    Rise of Buffer ETFs in the market

    Buffer ETFs have been gaining traction globally, with 139 such funds currently trading on U.S. markets, amassing a total asset under management of $32.54 billion.

    BlackRock, a major player in the ETF space, introduced its iShares buffer ETFs earlier this year. These funds offer investors a specified level of downside protection while capping potential upside gains. Analysts anticipate more entrants in this space with diverse strategies, contributing to the growing trend of innovative investment products aimed at addressing market uncertainties.

    While the concept of buffer ETFs provides a novel approach to risk management, investors must understand that these funds do not guarantee complete protection.

    First Trust’s filing emphasizes potential risks, including the risk of losing some or all invested capital. Investors should carefully evaluate the suitability of buffer ETFs for their portfolios, recognizing that these products may not be suitable for everyone, and success in providing downside protection is not guaranteed.

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  • Spot ETF Makes Bitcoin Entry Easier; Borroe Finance Presale Approaches $2M Mark

    Spot ETF Makes Bitcoin Entry Easier; Borroe Finance Presale Approaches $2M Mark

    In the world of cryptocurrency, the winds of change are blowing, and they’re bringing in some exciting developments. The much-anticipated spot Bitcoin ETF is on the horizon, simplifying Bitcoin investments for the everyday investor. Meanwhile, BorroeFinance ($ROE), a rising star in the crypto universe, is edging closer to a monumental $2 million in its presale. Let’s unpack these stories and see why they are reshaping the landscape as the best crypto investment.

    >>BUY $ROE TOKENS NOW<<

    The Game-Changing Spot Bitcoin ETF

    The buzz around the first spot Bitcoin exchange-traded fund (ETF) in the U.S. market is real and for good reason. This investment product is not just a boon for Bitcoin; it’s a potential game-changer for the entire crypto industry. The beauty of a spot Bitcoin ETF lies in its simplicity and accessibility. It dismantles the barriers that have kept many potential investors at bay.

    You don’t need to be a tech whiz to dive into the Bitcoin pool anymore. Forget about the hassle of dealing with cryptocurrency exchanges or the headache of setting up and securing a blockchain wallet. And let’s not even get started on the labyrinth that is crypto taxes. The spot Bitcoin ETF is about to make all these issues a thing of the past.

    But that’s not all. This ETF comes with the backing and blessing of the big guns – government regulators like the SEC and heavyweight investors on Wall Street. This level of endorsement is set to strip away much of the skepticism surrounding the crypto industry. Each of these ETFs will be under the microscope – audited, monitored, and transparent. In short, it’s a safer and more reliable avenue into Bitcoin, without the fear of some crypto catastrophe wiping out your investment.

    BorroeFinance: The New Crypto Darling

    On another front, BorroeFinance ($ROE) is making waves as it inches closer to the $2 million mark in its presale. This is not just another run-of-the-mill crypto launch; Borroe Finance is carving out its niche in the DeFi and NFT spaces with an innovative blend of AI and blockchain technology. It’s more than just a digital currency; it’s a forward-thinking project that’s redefining financial solutions for the digital age.

    This approach has not gone unnoticed. The crypto community is buzzing, and the presale numbers are proof of the growing interest. BorroeFinance isn’t just a top crypto to buy; it’s a glimpse into the future of decentralized finance. For those scouring the market for a top altcoin to buy, Borroe Finance is a name that demands attention.

    >>BUY $ROE TOKENS NOW<<

    Why Borroe Finance Stands Out

    In a sea of altcoins, what makes Borroe Finance stand out? It’s not just the technology; it’s the practical, scalable solutions it offers. The project’s ability to attract significant interest, especially in its presale phase, underscores its potential as a top crypto coin. The innovative approach to monetizing future earnings through NFTs and its AI-driven platform make it more than just another digital currency. It represents a forward-thinking investment in the rapidly evolving world of crypto.

    As Borroe Finance approaches stage 4 of its presale, now is the perfect time for investors to consider jumping on board. With over $1.8 million already raised and nearing the $2 million mark, the excitement is palpable. This presale is not just about raising funds; it’s about being part of a revolutionary project in the DeFi and NFT spaces. For investors looking for a promising venture, Borroe Finance presents a compelling opportunity.

    Conclusion: A Time of Opportunities

    In conclusion, the crypto market is buzzing with opportunities. The upcoming spot Bitcoin ETF is set to simplify Bitcoin investments, making it more accessible to a broader audience. At the same time, Borroe Finance’s innovative approach and successful presale are redefining what it means to be a top altcoin. 

    Learn more about BorroeFinance ($ROE) here:

    Visit BorroeFinance Presale | Join The Telegram Group | Follow BorroeFinance on Twitter

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  • Google eases Crypto Trust Ads Policy ahead of potential Bitcoin ETF approval

    Google eases Crypto Trust Ads Policy ahead of potential Bitcoin ETF approval

    • Starting January 29, 2024, Google will allow US-based crypto trusts to advertise on its platform.
    • Advertisers looking to promote crypto trusts must, however, undergo Google certification.
    • Google’s policy update aligns with a broader industry trend and Bitcoin’s 74% surge in the past 90 days.

    In a strategic move, Google has revised its cryptocurrency-related advertising policy to permit ads for US-based crypto trusts, aligning with predictions of the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States.

    This update, effective January 29, 2024, comes at a time of heightened anticipation in the crypto space, as industry analysts speculate a 90% chance of a US spot Bitcoin ETF approval by January 10, 2024.

    Google allows Ads for US crypto trusts

    The update explicitly mentions “advertisers offering Cryptocurrency Coin Trust targeting the United States.” Advertisers interested in promoting crypto trusts must undergo Google certification, ensuring they possess the necessary licenses from relevant local authorities. The policy emphasizes global application, requiring adherence to local laws in the targeted regions.

    This policy adjustment by Google coincides with increasing expectations of the approval of spot Bitcoin ETFs in the United States. Bloomberg’s ETF analysts project a 90% likelihood of approval by January 10, 2024.

    Notably, there are currently 13 Bitcoin ETF applicants, including major players like BlackRock, Grayscale, and Fidelity. These firms have reportedly engaged with the US Securities and Exchange Commission to discuss crucial technical details related to their ETF proposals. The crypto market has responded positively, with Bitcoin experiencing a significant 74% surge in the past 90 days.

    The crypto market is anticipated to add $1 trillion if the SEC approves the Bitcoin ETF applications.

    Certification requirements for Crypto Trust Ads on Google

    Google’s certification process for potential crypto trust advertisers underscores the importance of compliance with local laws.

    Advertisers must obtain the necessary licenses from local authorities, and their products, landing pages, and ads must align with the legal requirements of the respective countries or regions. This meticulous certification process aims to ensure responsible advertising practices within the rapidly evolving and dynamic cryptocurrency landscape.

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  • Bitcoin ETF may be a ‘limited’ benefit for Coinbase stock: Barclays

    Bitcoin ETF may be a ‘limited’ benefit for Coinbase stock: Barclays

    coinbase stock price forecast barclays analyst
    • Mike Novogratz expects SEC to approve a Spot Bitcoin ETF this year.
    • Barclays analyst does not expect that to be a huge benefit for Coinbase.
    • Coinbase stock is currently down over 30% versus its year-to-date high.

    Mike Novogratz – the Chief Executive of Galaxy Investment Partners expects the Securities & Exchange Commission to approve a Spot Bitcoin ETF by the end of this year.

    Here’s what Mike Novogratz said today on CNBC

    Last week, the U.S. regulator refrained from appealing a court’s ruling that said it did not have sufficient reason to block Grayscale from converting its flagship trust to an exchange-traded fund.

    Note that Galaxy itself has filed for a Spot Bitcoin ETF in collaboration with Invesco. On CNBC’s “Squawk Box”, Novogratz said today:

    Dialogue with SEC is heading in right direction. It is no longer talking how Bitcoin works. It’s just a recognised macro asset and that’s a huge psychological shift.

    The billionaire investor expects a positive news on the ETF front to lead the market higher. Still, Barclays is not entirely convinced that it will be a material catalyst for Coinbase Global Inc.

    Barclays analyst shares his view on Coinbase stock

    Analyst Benjamin Budish told clients in a research note today on Wednesday that approval of a Spot Bitcoin ETF will likely be a “limited” benefit for Coinbase.

    It is not clear how successful ETF launches would translate into a meaningful P&L benefit for Coinbase despite it being an integral service provider.

    He agreed that the Nasdaq-listed firm will serve as custodian for four BTC exchange-traded funds (at least) but said it is unlikely to earn significant custodial and prime brokerage fees.

    Barclays has an “underweight” rating on Coinbase stock with a price target of $70 that suggests another 6.0% downside from here. Earlier this week, Cathie Wood – the Founder of Ark Invest also took a positive tone on a Spot Bitcoin ETF approval.

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  • Bitcoin ETF approvals to drive $1T crypto market surge: CryptoQuant

    Bitcoin ETF approvals to drive $1T crypto market surge: CryptoQuant

    • CryptoQuant forecasts Bitcoin’s market cap could hit $900 billion if Bitcoin spot ETFs are approved.
    • The report also forecasts that $1 trillion could be added to the entire crypto market.
    • The various spot Bitcoin ETFs may be approved by March 2024, signalling a new era of crypto adoption.

    In a recent report, data analytics firm CryptoQuant revealed compelling insights into the potential impact of Bitcoin spot exchange-traded funds (ETFs) on the cryptocurrency market.

    The report suggests that, if approved, these ETFs could trigger substantial growth in the crypto space, raising Bitcoin’s market capitalization to a staggering $900 billion and boosting the overall crypto market by a monumental $1 trillion.

    Spot Bitcoin ETFs approval could be a game-changer

    The first wave of institutional involvement in the cryptocurrency market, which occurred during 2020-2021, was characterized by institutions adding Bitcoin to their balance sheets.

    CryptoQuant’s report highlights that the second wave of adoption may come from financial institutions enabling clients to access Bitcoin through spot ETFs. CryptoQuant believes that these ETFs present a significant opportunity for investors to gain exposure to the crypto market.

    Several major financial institutions in the United States have applied for regulatory approval to launch spot Bitcoin ETFs. These approvals could potentially be granted by March 2024 at the latest with some US lawmakers requesting the SEC to approve the applications. This marks a critical milestone in the evolution of cryptocurrency investment instruments.

    Potential inflows and market impact

    CryptoQuant’s analysis indicates that should the issuers of Bitcoin ETFs allocate just 1% of their Assets Under Management (AUM) to these ETFs, it could result in a remarkable influx of approximately $155 billion into the Bitcoin market. This influx, equivalent to nearly one-third of Bitcoin’s existing market capitalization, could potentially drive Bitcoin’s price into a range between $50,000 and $73,000.

    The report also draws upon historical data, revealing that during previous bull markets, Bitcoin’s market capitalization typically expanded by a factor of 3 to 5 times more than its realized capitalization. This historical pattern suggests that for every $1 of new investment entering the Bitcoin market, the market’s capitalization could surge by $3 to $5, indicating substantial growth potential.

    The market got a test after some false news about BlackRock Bitcoin ETF approval pushed Bitcoin to $30,000.

    In general, the approval of Bitcoin spot ETFs holds the promise of attracting significant institutional investment and contributing to the cryptocurrency market’s expansion. Despite its volatile nature, this development could become a catalyst for further institutional involvement, bringing the crypto space closer to the $1 trillion milestone.

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