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Why crypto idealogues won’t touch bitcoin ETFs

Wired · 1y ago

Why crypto idealogues won’t touch bitcoin ETFs

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.

Related News

Why Stamping Out Crypto Bros Could Help Bitcoin

Livemint

Livemint · 1y ago

Why Stamping Out Crypto Bros Could Help Bitcoin

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.

Global crypto platform Mudrex launches US bitcoin ETFs for Indian investors

Economic Times

Economic Times · 1y ago

Global crypto platform Mudrex launches US bitcoin ETFs for Indian investors

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.

Investors count on blockbuster 2024 ahead of bitcoin halving

Economic Times

Economic Times · 1y ago

Investors count on blockbuster 2024 ahead of bitcoin halving

Cryptocurrency investors are anticipating a significant year for crypto trading in 2024, with the listing of crypto exchange-traded funds (ETFs) and the upcoming Bitcoin halving day expected to drive a prolonged bull run. Indian investors are predicted to double their crypto holdings, currently valued at nearly $4 billion, as Bitcoin prices are projected to reach new all-time highs post-halving in April. Approval for Ethereum ETFs is also anticipated. The Bitcoin halving, occurring every four years, reduces the cryptocurrency's supply and historically leads to price surges. The next halving is expected in April 2024.

Why Bitcoin’s Surge to $123,000 Could Be Just the Start? Mudrex Explains

Economic Times

Economic Times · 1m ago

Why Bitcoin’s Surge to $123,000 Could Be Just the Start? Mudrex Explains

Bitcoin's remarkable surge to $123,000 is seen as the foundation of a potential historic crypto rally, driven by institutional investment, corporate adoption, and regulatory shifts. Key factors include significant inflows into Bitcoin ETFs, corporate treasuries adding Bitcoin, accumulation by whales, and favorable US regulations. Anush Jafer of Mudrex highlights the critical role of institutional and macroeconomic trends, such as the global M2 money supply, in sustaining Bitcoin's rise, while also anticipating a promising altcoin season.

US crypto stocks slide as Donald Trump's sweeping tariffs jolt markets

Economic Times

Economic Times · 4m ago

US crypto stocks slide as Donald Trump's sweeping tariffs jolt markets

US crypto stocks fell after President Trump's tariffs heightened trade tensions and led to a sell-off in riskier assets. Coinbase dropped 4%, Bitcoin holder Strategy 3%, and miners like MARA and Riot fell 4-6%. Bitcoin and ether prices also declined. Despite Trump's crypto-friendly stance, economic instability affects crypto companies. Some analysts see potential gains for crypto ETFs as investors seek opportunities amid macroeconomic uncertainties. However, inflows may wane as volatility rises.

Are We Really Doing the Bitcoin Hype Cycle Again?

Gizmodo

Gizmodo · 1y ago

Are We Really Doing the Bitcoin Hype Cycle Again?

The article discusses the renewed interest in cryptocurrency following the crash of 2022. Bitcoin has reached its highest price since 2021, and there is excitement over the SEC's approval of spot Bitcoin ETFs. However, the author warns against blindly following the crypto hype cycle, citing past instances of heartbreak for investors. They argue that crypto is a Ponzi scheme and highlight its association with illegal activities. The article also questions the timing of investments, as timing the market can be challenging. Overall, the author advises caution and emphasizes the potential risks involved in crypto investments.

Hong Kong set to approve its first spot bitcoin ETFs in April

Economic Times

Economic Times · 1y ago

Hong Kong set to approve its first spot bitcoin ETFs in April

Bitcoin exchange-traded funds (ETFs) may be launched in Hong Kong this month, making it the first city in Asia to offer such products. Regulators have accelerated the approval process, indicating a strong desire to improve the city's attractiveness as a financial trading hub. Several Chinese and Hong Kong asset managers, including China Asset Management, Harvest Fund Management, and Bosera Asset Management, have reportedly submitted applications for spot bitcoin ETFs. The move is significant as it could bring in new global investments and boost crypto adoption. In January, the US launched its first exchange-traded funds for spot bitcoin, attracting around $12 billion in net inflows.

Fresh bitcoin hype shows crypto just can’t help itself

Wired · 1y ago

Fresh bitcoin hype shows crypto just can’t help itself

The prospect of a spot bitcoin exchange-traded fund (ETF) being launched in the US has fueled hype and a surge in crypto prices. Investment firms like BlackRock and Fidelity are preparing to launch spot bitcoin ETFs, which would allow investors to hold bitcoin through a conventional financial product. Although the arrival of a spot bitcoin ETF signifies greater acceptance of bitcoin in legacy financial institutions, analysts warn against mis- and overstating the impact on bitcoin's price. While some believe it will increase demand, others predict a potential price plunge as investors quickly cash out.

Hong Kong set to approve its first spot bitcoin ETFs in April

Economic Times

Economic Times · 1y ago

Hong Kong set to approve its first spot bitcoin ETFs in April

Hong Kong may become the first city in Asia to launch spot bitcoin exchange-traded funds (ETFs) this month, with approvals expected as early as next week. This acceleration in the approval process is aimed at boosting Hong Kong's appeal as a financial trading hub. Several mainland Chinese and Hong Kong asset managers, including China Asset Management, Harvest Fund Management, and Bosera Asset Management, have submitted applications for the ETFs. The introduction of these ETFs could attract global investment and further drive crypto adoption.

Trump media files for 'crypto blue chip ETF' with SEC - The Economic Times

Economic Times

Economic Times · 1m ago

Trump media files for 'crypto blue chip ETF' with SEC - The Economic Times

Trump Media & Technology Group has filed with the Securities and Exchange Commission to launch a "Crypto Blue Chip ETF." This exchange-traded fund, expected later this year, will mostly comprise popular cryptocurrencies: 70% in Bitcoin and smaller percentages in Ethereum, Solana, Ripple's currency, and another crypto by Crypto.com, acting as digital custodian. The move aims to simplify investor access to cryptocurrencies. The SEC recently issued new guidelines for crypto ETFs amidst Trump's supportive regulatory stance.

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