ETFs make Bitcoin’s problems even worse
11 months, 1 week ago

ETFs make Bitcoin’s problems even worse

Live Mint  

As holders of bitcoin they undermine the very purpose, and so the long-term value, of a cryptocurrency. The new ETFs reconnect bitcoin both to Wall Street’s old financial infrastructure and to the dollar, in which all are priced and which all use to buy and sell bitcoin. And bitcoin ETFs are likely to make its bad performance in crises even worse, by bringing in even more speculators to what’s already mostly a speculative asset. In 2023’s bank runs, bitcoin lost almost 20% from its February high to the March low, four times as much as the S&P. The new bitcoin ETFs have one advantage over most thematic funds: Their launch timing was determined by the Securities and Exchange Commission’s grudging and long-delayed agreement, not the popularity of bitcoin.

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US ETFs net inflows near $1 trillion in biggest annual rush fueled by Trump’s poll victory
1 month, 1 week ago

US ETFs net inflows near $1 trillion in biggest annual rush fueled by Trump’s poll victory

Live Mint  

-- This year was already a landmark one for exchange-traded funds, but as of Friday the ETF universe can add another superlative: biggest annual inflows on record. The insatiable appetite for the investor-friendly wrapper, an all-time high number of product launches and a relentless bull market fueled by Donald Trump’s presidential victory have helped push total net inflows into US …

Bitcoin tumbles 10% off its peak in less than a week to trade at $65,300. Check details here
9 months ago

Bitcoin tumbles 10% off its peak in less than a week to trade at $65,300. Check details here

Live Mint  

In the past less than a week, bitcoin has dropped over 10 percent from its all time high of $73,083 it hit on March 13 at trade at $65,300 in the early hours on Sunday. Swissblock, a digital asset analytics firm, in a note on Wednesday said that bitcoin has risen almost double in price from $38,000 in late January …

Bitcoin Reclaims $57,000 After 2 Years On Heavy Institutional Buying
9 months, 3 weeks ago

Bitcoin Reclaims $57,000 After 2 Years On Heavy Institutional Buying

News 18  

Leading cryptocurrency Bitcoin has soared to a more than two-year high above $57,000 after enterprise software firm MicroStrategy Inc announced it had bought about 3,000 more of the tokens for $155 million. The US SEC approved 11 spot bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, and ARK 21Shares Bitcoin ETF, among others. Bitcoin is now at a …

Bitcoin surges past $46,000, close to month-highs on ETF inflows, halving plans
10 months, 2 weeks ago

Bitcoin surges past $46,000, close to month-highs on ETF inflows, halving plans

Live Mint  

Bitcoin, the largest digital asset, achieved a one-month high by surpassing $46,000 on February 9. This upward trend is supported by steady inflows into several United States funds for the cryptocurrency and increasing attention on the upcoming halving scheduled for April, Bloomberg reported. Bitcoin Exchange-Traded Funds Give Boost Nine US spot Bitcoin exchange-traded funds debuted on January 11, accompanied by …

Bitcoin ETFs are off to a bad start. Will things improve?
10 months, 2 weeks ago

Bitcoin ETFs are off to a bad start. Will things improve?

Live Mint  

The path to approval for the first bitcoin exchange-traded funds was long and arduous. When State Street Global Advisors launched America’s first gold ETF in 2004, the metal fetched less than $500 per ounce, below its price in the early 1980s. Inflows into ETFs launched by firms such as BlackRock, Fidelity and VanEck have been almost entirely offset by outflows …

Bitcoin set to record longest winning streak since pandemic-era rally
10 months, 3 weeks ago

Bitcoin set to record longest winning streak since pandemic-era rally

Live Mint  

Bitcoin is on course to advance for a fifth straight month in what would be the token’s longest such winning streak since a pandemic-era rally oiled by easy money. The largest digital asset has risen about 2% in January, a month of pronounced swings sparked by the rollout of the first US spot Bitcoin exchanged-traded funds and shifting views on …

Here’s How the New Bitcoin ETFs Will Work
11 months, 1 week ago

Here’s How the New Bitcoin ETFs Will Work

Live Mint  

Regulators have given the green light to the first U.S. exchange-traded funds that directly hold bitcoin. Authorized participants for the new bitcoin ETFs include electronic trading giants Jane Street Capital and Virtu Financial and the U.S. brokerage arm of JPMorgan Chase. By December, all the asset managers seeking to launch bitcoin ETFs switched to a cash model, in which authorized …

Why Crypto Idealogues Won’t Touch Bitcoin ETFs
54 years, 11 months ago

Why Crypto Idealogues Won’t Touch Bitcoin ETFs

Wired  

Bitcoin devotees are declaring a historic victory after US regulators approved a new, more accessible way for people to invest in the crypto asset after a decade of resistance. The ETFs will be issued by a selection of big-name financial institutions—including BlackRock, Fidelity, and Franklin Templeton—and will give people a way to invest in bitcoin through a brokerage, as if …

Bitcoin ETFs begin trading in U.S. ending decade-long tussle with SEC
11 months, 1 week ago

Bitcoin ETFs begin trading in U.S. ending decade-long tussle with SEC

The Hindu  

Several exchange-traded funds tied to the spot price of bitcoin began trading in the U.S. on Thursday in a landmark moment for the cryptocurrency industry that has been demanding regulatory approval for more than a decade. "The approval has the potential to simplify and secure Bitcoin investments for a broader investor base, which may reshape the dynamics of cryptocurrency investments," …

Bitcoin price surges 5% to $49,000, daily trading volume reaches $52 billion
11 months, 1 week ago

Bitcoin price surges 5% to $49,000, daily trading volume reaches $52 billion

Live Mint  

The price of first decentralised cryptocurrency Bitcoin surged over 5%, reaching intraday high to $49,012 on Thursday, January 11, after the US Securities and Exchange Commission greenlit the establishment of Bitcoin exchange-traded funds by investment firms, signalling a potential revival for the world’s largest cryptocurrency token by market capitalization. In fact, the daily trading volume for Bitcoin on cryptocurrency exchanges …

New funds will make investing in bitcoin easier. Here’s what you need to know
11 months, 1 week ago

New funds will make investing in bitcoin easier. Here’s what you need to know

Associated Press  

NEW YORK — Nearly a dozen new bitcoin funds began trading in U.S. markets for the first time Thursday, providing increased access to the cryptocurrency for everyday investors. A spot bitcoin ETF could open the door to many new investors who don’t want to take such extra steps. New bitcoin ETFs will perform like the SPDR Gold Shares ETF, which …

Spot Bitcoin ETF: A paradigm shift in the world of cryptos?
11 months, 1 week ago

Spot Bitcoin ETF: A paradigm shift in the world of cryptos?

Live Mint  

After a long wait, US markets regulator Securities and Exchange Commission finally gave a go-ahead to the spot bitcoin ETFs on Wednesday, a move that led to a massive jump in the bitcoin prices. The bitcoin surged nearly 6 percent since October on speculation that the spot bitcoin ETF would get the final approval in the early days of January. …

Bitcoin holds firm after regulators approve ETFs
11 months, 1 week ago

Bitcoin holds firm after regulators approve ETFs

The Hindu  

Bitcoin held steady on Thursday after regulators approved the first U.S.-listed exchange traded funds to track the world's largest cryptocurrency, seen as a landmark move that could broaden its appeal to investors. The Securities and Exchange Commission said on Wednesday it approved 11 applications, including from BlackRock, Ark Investments/21Shares, Fidelity, Invesco and VanEck, with most of the products expected to …

Regulators approve new bitcoin funds in move that could spur more investment in the digital currency
11 months, 1 week ago

Regulators approve new bitcoin funds in move that could spur more investment in the digital currency

Associated Press  

NEW YORK — The Securities and Exchange Commission on Wednesday reluctantly approved the first exchange-traded funds that hold bitcoin, saying it is still deeply skeptical about cryptocurrencies and that its decision did not mean it approves or endorses bitcoin. The agency said that would provide competition and a “level playing field.” Bitcoin ETFs could open the door to cryptocurrencies to …

SEC approves bitcoin ETFs for some investment firms
11 months, 2 weeks ago

SEC approves bitcoin ETFs for some investment firms

CNN  

New York CNN — After a false start Tuesday, the Securities and Exchange Commission gave its approval Wednesday for some investment companies to offer “spot bitcoin” exchange-traded funds. After the stock market close on Tuesday, a post on the SEC’s X account falsely claimed the regulatory agency had approved the listing and trading of spot bitcoin exchange-traded products. Those sentiments …

Cryptocurrencies rally, Bitcoin surges past $45,000 for the first time since April 2022
11 months, 3 weeks ago

Cryptocurrencies rally, Bitcoin surges past $45,000 for the first time since April 2022

Firstpost  

Bitcoin soared beyond $45,000 on Tuesday, marking its highest level since April 2022, as the world’s largest cryptocurrency kicked off the New Year on a strong note. Reaching a 21-month peak at $45,532, Bitcoin demonstrated a remarkable 156 per cent gain in the previous year, its most robust yearly performance since 2020. While the SEC has previously rejected several applications …

Bitcoin climbs above $45,000 for first time since April 2022
11 months, 3 weeks ago

Bitcoin climbs above $45,000 for first time since April 2022

The Hindu  

Bitcoin rose above $45,000 on Tuesday for the first time since April 2022 as the world's biggest and best-known cryptocurrency started 2024 with a bang buoyed by optimism around possible approval of exchange-traded spot bitcoin funds. Investor focus has been squarely on whether the U.S. securities regulator will soon approve a spot bitcoin ETF, which would throw open the bitcoin …

Bitcoin prices have doubled this year and potentially new ways to invest may drive prices higher
1 year, 1 month ago

Bitcoin prices have doubled this year and potentially new ways to invest may drive prices higher

Associated Press  

NEW YORK — Bitcoin is having another moment. A green light from federal regulators hasn’t arrived yet, but recent wins for some crypto fund managers with applications for bitcoin spot ETFs have improved odds for approval, perhaps in the coming months. Kaiko Research points to a brief spike in the price of bitcoin last week, for example, after crypto news …

Bitcoin price jumped after false news about spot ETF approval
1 year, 2 months ago

Bitcoin price jumped after false news about spot ETF approval

The Hindu  

A crypto news website has apologised after its incorrect social media post about the approval of a spot Bitcoin exchange-traded fund was debunked and Bitcoin prices spiked early in the week. Cointelegraph had made a post on X, saying that the U.S. Securities and Exchange Commission had approved BlackRock’s application for a spot Bitcoin ETF. In an update, Cointelegraph said …

BTC Price Rally: What BlackRock's ETF Move Has To Do With Bitcoin's Sudden Boost
1 year, 6 months ago

BTC Price Rally: What BlackRock's ETF Move Has To Do With Bitcoin's Sudden Boost

ABP News  

In a significant development for crypto investors, Bitcoin has surpassed $28,000, reaching its highest point this month, fueled by BlackRock's bid to establish a US exchange-traded fund. "The BlackRock ETF application seemed to have sparked the rally, but there are certainly other factors at play," remarked Aaron Brown, a crypto investor and Bloomberg Opinion contributor. Simultaneously, a new cryptocurrency exchange …

Value of Bitcoin skyrockets again as US ETF launch enhances investor exposure
3 years, 2 months ago

Value of Bitcoin skyrockets again as US ETF launch enhances investor exposure

Firstpost  

The fund, which opened on 19 October, allows investors to speculate on the future value of Bitcoin without actually owning it. It is the first time investors have been able to trade an asset related to Bitcoin on the New York Stock Exchange London: Bitcoin’s journey into mainstream finance has reached another major milestone and another record price. The cryptocurrency …

Bitcoin ETF finally begins trading
3 years, 2 months ago

Bitcoin ETF finally begins trading

CNN  

New York CNN Business — Cryptocurrency investors finally got what they’ve been clamoring for as the first bitcoin-linked, exchange-traded fund launched Tuesday. “The ETF approval is a watershed moment for the industry,” Bitcoin Foundation chairman Brock Pierce said in a statement to CNN Business. “This moment is long-awaited, as numerous entrepreneurs and firms have sought approval from regulators since as …

Bitcoin in red on October 17, but remains above $60,000 on US ETF fund approval nod
3 years, 2 months ago

Bitcoin in red on October 17, but remains above $60,000 on US ETF fund approval nod

Firstpost  

The SEC fuelled speculation of the imminent approval after writing the following advice on one of its accounts on Twitter: “Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits.” Cryptocurrency prices continue to be in the red on 17 October. “An SEC Bitcoin ETF approval is a watershed moment …

Bitcoin tops $60,000, nears record high, on growing U.S. ETF hopes
3 years, 2 months ago

Bitcoin tops $60,000, nears record high, on growing U.S. ETF hopes

The Hindu  

Bitcoin hit $60,000 for the first time in six months on Friday, nearing its record high, as traders grew confident that U.S. regulators would approve the launch of an exchange-traded fund based on its futures contracts. The U.S. Securities and Exchange Commission is set to allow the first U.S. bitcoin futures ETF to begin trading next week, Bloomberg News reported …

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