Bitcoin Financial News

SEC) approved US-listed exchange-traded funds (ETFs) that track Bitcoin, Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday warned that crypto mania can have a Tulip mania-like outcome. «We are all familiar with the Dutch term Tulip mania in the Netherlands. I don't think the world, emerging markets in particular, can afford crypto mania which can have a similar outcome,» Das said at Mint BFSI Summit. While making it clear that RBI's position on crypto remains unchanged, irrespective of who does what, Das said, «Just because somebody is doing something, we are not here to emulate them....travelling down that path will create huge risks which, going forward, will be very very difficult to contain.» Paving the way for inflow of billions of dollars in cryptocurrency, the US has approved 11 Bitcoin spot ETFs. For Indian investors, the Bitcoin ETF will provide an opportunity to include crypto in their portfolio via the LRS route.

ETF) to track bitcoin, industry experts predicted that Bitcoin could hit the $200,000-mark. Additionally, inflows of $50-100 billion in Bitcoin ETFs is expected in 2024, they said. Global bank Standard Chartered said in a note, «We expect Bitcoin to enjoy price gains of a similar magnitude as a result of US spot ETF approval, but we see these gains materialising over a shorter (one- to two-year) period, given our view that the BTC ETF market will develop more quickly, This is consistent with our end-2024 view of Bitcoin at the USD 100,000 level.» «If ETF-related inflows materialise as we expect, we think an end-2025 level closer to USD 200,000 is possible. This assumes that between 437,000 and 1.32mn new bitcoins will be held in spot US ETFs by end-2024. In USD terms, this should be roughly USD 50-100bn,» it added. Predicting Bitcoin's price target for 2024, Mudrex CEO Edul Patel said, «It should be a great year for BTC in 2024. The combined effect of ETFs, halving and regulatory clarity drive up demand. It is expected that BTC will cross its previous highs of $69k.»

The newly approved spot Bitcoin exchange-traded funds (ETFs) have witnessed a remarkable trading volume, exceeding $4 billion on their first day in the market.

Bitcoin's current dominance is 51.14 percent, reflecting a decrease of 0.15 percent within the day. The decline comes despite the coin touching $49,012 (up 5 percent) on January 11 after Bitcoin exchange-traded funds (ETFs) were approved by the US SEC and began trading.

South Korean crypto-related KOSDAQ stocks “soared” on the news of the US Securities and Exchange Commission (SEC)’s approval of 11 Bitcoin spot ETFs.

Bitcoin held steady on Thursday after regulators approved the first U.S.-listed exchange traded funds (ETFs) to track the world's largest cryptocurrency, seen as a landmark move that could broaden its appeal to investors. The Securities and Exchange Commission (SEC) said on Wednesday it approved 11 applications, including from BlackRock, Ark Investments/21Shares, Fidelity, Invesco and VanEck, with most of the products expected to begin trading later in the day. Bitcoin was little changed in Asian hours and was last at $46,337. It had surged to its firmest in 21 months at $47,897 earlier in the week in anticipation of the SEC approval, after those expectations contributed to an impressive 156% gain in bitcoin last year.

ETFs) saw $4.6 billion worth of shares trade hands as of Thursday afternoon, according to LSEG data, as investors jumped into the landmark products approved by the US securities regulator on Wednesday. The products mark a watershed moment for the cryptocurrency industry that will test whether digital assets — still viewed by many professionals as risky — can gain broader acceptance as an investment.

Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday warned financial institutions against the potential risks of relying on algorithm- or model-based lending. Lenders must continuously maintain a vigil on the efficiency of such models, he said at an event organised by Mint.

The U.S. Securities and Exchange Commission (SEC) approval of 11 exchange-traded funds (ETFs) that hold Bitcoin on Wednesday is being called an “unprecedented” decision by analysts — one that they say will expand how many people can gain exposure to the cryptocurrency.

Ether, the second-largest cryptocurrency, emerged as one of the biggest beneficiaries of the decision by US regulators to approve the country’s first spot-bitcoin exchange-traded funds.

Now that buying and selling bitcoin has evolved to encompass exchange-traded funds that invest in the digital asset, broker-dealers will inevitably ponder the Shakespearian question about a bitcoin ETF: to sell or not to sell?

TYPE, D/ACC and STRM are some of the top small-cap crypto gainers today on DEXTools, while blue-chip cryptocurrency markets pump.

Bitcoin, the world’s largest digital cryptocurrency, recently witnessed a significant surge, exceeding $47,000. This remarkable increase is attributed to the U.S. Securities and Exchange Commission (SEC) approving 11 new Bitcoin Exchange-Traded Funds (ETFs), marking a pivotal moment in the mainstream acceptance of cryptocurrencies as viable investment options.

A group of Republican lawmakers from the US House Financial Services Committee has urged Securities and Exchange Commission (SEC) Chairman Gary Gensler to address inquiries concerning the hack of the agency’s X account on January 9, 2024.

BlackRock’s iShares Bitcoin Trust took an early lead in trading volume as 11 spot bitcoin ETFs open their doors to the investing public. The nine trillion dollar asset manager attracted trading volume of $17.9 million in the first hour.

The US-based crypto exchange Coinbase is facing increased competition and potential challenges to its market dominance following the approval of spot Bitcoin exchange-traded funds (ETFs) in the US.

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

The first US ETFs that directly hold bitcoin are off to a strong start, with billions of dollars changing hands in a historic first day of trading for the long-sought investment vehicles. 

By Caroline Valetkevitch and Marc Jones

MUMBAI : The US may have green-lighted exchange-traded funds (ETFs) in bitcoin, but for India’s apex banking regulator, cryptocurrencies remain a strict no-no. “The way we look at crypto remains unchanged, irrespective of who does what," Reserve Bank of India (RBI) governor Shaktikanta Das stated at the 16th Mint Annual BFSI Summit and Awards in Mumbai on Thursday. “Just because somebody is doing something, we are not here to emulate them." The US Securities and Exchange Commission (SEC) on Wednesday approved the first US-listed ETFs to track bitcoin, marking a milestone for the world’s largest cryptocurrency and the broader crypto industry.

By Manya Saini, Niket Nishant and Hannah Lang