All articles tagged with #crypto etfs
Bitwise's Matt Hougan predicts Solana will become Wall Street's preferred network for stablecoins and asset tokenization due to its speed and throughput, despite Ethereum's larger market share. Bitwise is also awaiting SEC approval for a Solana ETF, highlighting growing institutional interest in Solana's ecosystem.
DeepSnitch AI is gaining attention as a potential 100x moonshot crypto due to its innovative AI-driven market analytics platform, which offers retail traders insights similar to institutional data, and is currently in presale with significant growth potential amid bullish sentiment in AI and crypto markets.
Vanguard, a major asset manager, is planning to offer access to third-party crypto ETFs through its brokerage platform due to rising client demand, marking a shift from its previous stance and expected to positively impact the crypto market, especially given its large investor base of 50 million.
BlackRock's recent approval for crypto ETF listings on major exchanges is expected to significantly boost the crypto market, with the potential floodgates opening for a wider range of cryptocurrencies beyond Bitcoin and Ethereum, amid growing institutional interest and regulatory changes.
Cryptocurrency markets rallied following a Fed rate cut and SEC rule changes that simplify crypto ETF listings, with Bullish leading gains after its quarterly report, and Coinbase and Gemini also showing positive movements; Bitcoin surpassed $117,500, and miners like CleanSpark saw significant increases.
The U.S. SEC has approved in-kind redemptions for spot Bitcoin and Ethereum ETFs, allowing institutional investors to exchange shares directly for underlying assets, which aims to improve efficiency and reduce costs. This change, praised by SEC officials, does not yet benefit retail investors but marks a significant step for institutional participation. Meanwhile, Ethereum ETFs are gaining market share, though growth may slow, as Bitcoin ETFs experience a decline in inflows.
Bitcoin reached a historic milestone by hitting $100,000, while Ether surged past $4,000 for the first time since March 2024. In political news, US President-elect Donald Trump nominated pro-crypto Paul Atkins to replace Gary Gensler as SEC chair, signaling potential regulatory shifts. Meanwhile, the SEC is reportedly set to reject applications for spot Solana ETFs, and influencer Haliey Welch's Hawk Tuah memecoin faced backlash after a rapid price drop amid allegations of insider trading. Additionally, the FDIC has asked banks to pause crypto activities due to regulatory uncertainties.
SEC Chair Gary Gensler, known for his critical stance on the crypto industry, used softer language when discussing potential crypto ETFs, including Solana meme coin BONK, on CNBC. This shift follows the SEC's recent approval of spot Ethereum ETFs, a move seen as influenced by political pressures and the upcoming 2024 election. Gensler also criticized crypto exchanges for practices not allowed on traditional stock exchanges.
The SEC approved 11 spot bitcoin ETFs, marking a significant development for the crypto industry. The regulators are now actively involved, with a focus on anti-money laundering, DeFi, financial intermediaries, and conflicts of interest. The approval of spot BTC ETFs is expected to bring more institutional and lower-risk investors into the crypto space, prompting projects to reevaluate their risk, compliance, and legal infrastructure. Key regulatory hurdles for businesses engaging in the crypto market in 2024 include compliance with evolving global AML standards and understanding nuanced differences in crypto-asset classifications across regions. Navigating international crypto regulations effectively requires a strategy that blends global compliance principles while adapting to local regulatory requirements.