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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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  • 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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