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News on Medial
Bitcoin ETFs test investor commitment to gold-backed paper
Economic Times
·
1y ago
Medial
The growing interest in bitcoin exchange-traded funds (ETFs) is leading some investors to shift their focus from gold-backed ETFs. While spot bitcoin ETFs provide an alternative for investors looking to hedge against inflation, analysts believe they won't pose a long-term challenge to gold. The recent approval of ETFs tracking the price of bitcoin by US regulators has opened up further opportunities for growth in the ETF market. However, caution is advised as bitcoin's volatility is still a concern for some, and gold remains a reliable asset for wealth preservation.
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BofA's Merrill Lynch, Wells Fargo offering spot bitcoin ETFs to clients
Economic Times
·
1y ago
Medial
Bank of America's Merrill Lynch and Wells Fargo have recently started offering spot bitcoin exchange-traded funds (ETFs) to their eligible wealth management clients, following the approval of such investment vehicles by the Securities and Exchange Commission in January. These ETFs allow investors to gain exposure to bitcoin without directly owning it. The availability of these funds has attracted new investors to the cryptocurrency market and has even led some to shift their investments from gold-backed ETFs. This move by the banks showcases the increasing popularity of bitcoin as an asset class.
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Why crypto idealogues won’t touch bitcoin ETFs
Wired
·
1y ago
Medial
Bitcoin investors are celebrating the approval of spot bitcoin exchange-traded funds (ETFs) by US regulators. The new ETFs will allow people to invest in bitcoin through a brokerage, albeit issued by major financial institutions. However, this approach contradicts the decentralized vision of bitcoin outlined in its white paper. The ETFs are seen as a compromise to attract institutional investors and make it easier for the general public to invest in cryptocurrency. The arrival of spot bitcoin ETFs is expected to bifurcate the asset, with one form for investment and another held by the ideological bitcoin community.
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Global crypto platform Mudrex launches US bitcoin ETFs for Indian investors
Economic Times
·
1y ago
Medial
Y Combinator-backed crypto investment platform Mudrex has launched its US bitcoin Spot ETFs in India. The platform allows both institutional and retail investors to invest in Bitcoin spot ETFs with a minimum of $5,000 and a maximum of $250,000. Users can choose between individual spot ETFs, create personalized baskets, or opt for pre-listed options based on market capitalization. Mudrex initially listed four spot ETFs: BlackRock, Fidelity, Franklin Templeton, and Vanguard. The move comes after the US Securities and Exchange Commission approved the first-ever US-listed ETFs that track the price of bitcoin.
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Gold returns 25% so far this year; should you buy more or just hold?
Money Control
·
1y ago
Medial
The price of gold has increased by 41% in the past year, reaching Rs 49,240 for 10 grams in the spot market. Rising gold prices have attracted investor attention, especially during uncertain times when other assets decline. The uncertainty surrounding the COVID-19 pandemic, global economic slowdown, geopolitical risks, and increased liquidity in the global economy have all contributed to the rise in gold prices. Investors globally, including in India, are investing in gold, with record-high holdings in gold-backed exchange-traded funds (ETFs). However, experts advise caution and moderation in expectations, using gold as a hedge rather than solely for returns.
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Bitcoin more than doubles in 2024 on spot ETF approval, Trump euphoria
Economic Times
·
7m ago
Medial
Bitcoin more than doubled in 2024, reaching $100,000, driven by US approval of spot price ETFs and optimism around Trump’s return to the White House. This surge contributed to the cryptocurrency market’s value reaching $3.5 trillion. Analysts forecast further gains, with predictions of Bitcoin hitting $200,000 by 2025. Institutional adoption is growing, with companies like MicroStrategy significantly increasing their Bitcoin holdings, and anticipation that Bitcoin could replace gold as a “store of value.”
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Why Stamping Out Crypto Bros Could Help Bitcoin
Livemint
·
1y ago
Medial
Regulatory crackdowns in the crypto world, such as the recent case involving Binance, may actually revive investor optimism and benefit Bitcoin. Traders speculate that the SEC is more likely to approve US exchange-traded funds (ETFs) that own Bitcoins on a spot basis. Asset managers, including BlackRock and Fidelity, have filed requests to launch spot Bitcoin ETFs, which could attract more investors. While the crackdown might limit unsupervised innovation, it could lead to compliant exchanges and ease concerns about price manipulation, potentially paving the way for the approval of spot ETFs.
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Zerodha's Nithin Kamath highlights how this asset had superior returns over stocks since 2000
Business Today
·
4m ago
Medial
Zerodha's Nithin Kamath highlighted that from 2000 onward, gold appreciated by 2,027%, surpassing the Nifty 50's 1,470% returns. With Sovereign Gold Bonds (SGBs) no longer available, Kamath recommends Gold ETFs for Indian investors. His analysis reflects a growing investor trend towards incorporating gold as a strategic portfolio asset. While Nifty 50 offers growth opportunities, its volatility underscores the importance of diversification, with gold providing stability against equity market fluctuations.
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Bitcoin hits all-time high above 69k
TechCrunch
·
1y ago
Medial
Bitcoin has reached a new all-time high, surpassing $69,000, driven by increased demand following the approval of spot bitcoin ETFs in the US and the upcoming bitcoin halving in April. The cryptocurrency has gained over 60% this month and 205% this year. Bitcoin halving occurs approximately every four years and leads to a decrease in mining rates. This process aims to control the supply of bitcoin, and the upcoming halving is expected to further boost demand for the asset. Additionally, the approval of spot bitcoin ETFs has attracted new institutional and retail investors.
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Bitcoin price drops to around $42,000 after spot ETF trading begins
Economic Times
·
1y ago
Medial
The price of Bitcoin dropped to around $42,000, down almost 10%, as spot Bitcoin exchange-traded funds (ETFs) began trading in the US. Bitcoin had reached a high of $46,000 last week and surged to a two-year high of $49,000. However, the recent dynamics have not met the expectations set by Bitcoin maximalists, and the market's ability to sustain upward momentum is in question. The approval of spot Bitcoin ETFs in the US is seen as a sign of a maturing market and regulatory support.
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BlackRock, VanEck among asset managers that submitted updated filings for spot bitcoin ETF
Reuters
·
1y ago
Medial
Asset management firms such as BlackRock, VanEck, and Invesco have updated their filings with the Securities and Exchange Commission (SEC) in hopes of launching exchange-traded funds (ETFs) tied to the spot price of Bitcoin. The SEC may notify issuers as early as next week if they have been approved to launch their Bitcoin ETFs, with an anticipated launch date of January 10. These filings outline the arrangements each company has made with market makers to ensure efficient trading. Currently, there are 14 asset managers seeking SEC approval for spot Bitcoin ETFs.
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