Bitcoin Financial News

To better integrate cryptocurrencies into traditional finance, Robinhood CEO Vlad Tenev announced that the platform will list the newly approved spot Bitcoin exchange-traded funds (ETFs) swiftly.

'Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto,' the SEC chair said.

Andrew Bailey, Bank of England governor, says cryptos lost its momentum to keep up a in the mainstream payments system.

Bitcoin price has surged above $46,000 as the US Securities and Exchange Commission (SEC) approved 11 spot bitcoin exchange-traded funds (ETFs) on Wednesday. The approval came after a US congressional panel requested an SEC briefing on a fake tweet that claimed the regulator had authorized a bitcoin futures ETF. The tweet, which was later deleted, caused a brief spike in bitcoin’s price on Tuesday. The approval of spot bitcoin ETFs, which track the actual price of the digital asset, is seen as a major boost for the crypto industry, as it could attract more institutional and retail investors to the market.

Coinbase has announced its official role as the custodian for eight of the newly approved spot Bitcoin exchange-traded funds (ETFs), following a monumental decision by the U.S. Securities and Exchange Commission (SEC).

The US Securities and Exchange Commission (SEC) has finally approved a range of spot Bitcoin (BTC) exchange-traded fund (ETF) applications. 

South Korea is planning to enact a new piece of legislation that would require around 5,800 high-ranking public officials to make public disclosures of their cryptocurrencies and other asset holdings. In the aftermath of a number of legislative initiatives that have been undertaken with the intention of boosting openness and minimizing concerns about conflicts of interest in the public sector, this new trend has emerged.

CryptoCon, a voice in the cryptocurrency analysis sphere, has recently shared via X an insightful prediction regarding Bitcoin's future trajectory. He asserts that Bitcoin, having topped around $45,000 a few weeks ago, is on the brink of a substantial correction. This correction could range between 38% and 52%, potentially bringing Bitcoin's value down to a bottom ranging between $26,000 and $21,500​​​​.

Jerry Yu, a 23-year-old student at New York University, has made headlines not for his academic pursuits but for his extravagant ventures in the world of cryptocurrency and Bitcoin mining. Living in a lavish $8 million Manhattan condominium previously owned by Jeffrey R. Immelt, former CEO of General Electric, Yu symbolizes what is often referred to as the «second-generation rich» in China​​.

Ark Invest CEO Cathie Wood has expressed disappointment at the statement made by SEC Chair Gary Gensler shortly after the agency approved a dozen exchange-traded funds (ETFs) that directly hold Bitcoin.

Why it is important

bitcoin last year in El Salvador, the first country anywhere to make the cryptocurrency a form of legal tender, said a poll released Wednesday. The government of President Nayib Bukele took this pioneering step in 2021, introducing bitcoin in circulation alongside the US dollar, which replaced the Salvadoran colon in 2001. The goal was to make remittances — they account for a quarter of GDP here — cheaper to send and to get Salvadorans to open bank accounts, which 70 percent of the population lacked. However a poll by Central American University found that 85 percent of people questioned did not use bitcoin to pay for a good or service last year, and three percent have never ever used the currency.

SEC) on Wednesday approved exchange-traded funds (ETFs) that track the price of bitcoin in a game-changer for the cryptocurrency industry which has been trying for more than a decade to launch such a product. Multiple asset managers have applied for bitcoin ETFs since 2013, but the SEC rejected them on the grounds they would be vulnerable to market manipulation. In August, however, a court found the SEC was wrong to reject Grayscale Investments' bitcoin ETF application, forcing the agency to rethink its stance.

inflation data that could influence the Federal Reserve's thinking on rate cuts, while the crypto world got a boost after exchange-traded funds (ETFs) to track bitcoin were approved in the United States. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.67% higher, on course to snap its seven-day losing streak. Japan's Nikkei breached 35,000 for the first time since February 1990 in a blistering start to the year, after rising 28% in 2023, its strongest yearly performance in a decade. The Nikkei was last up 1.9% at 35,085 on Thursday. On the other hand, China stocks loitered near 5-year lows as investor sentiment remained subdued.

The SEC has at long last approved spot-price bitcoin ETFs, though it did not do so entirely willingly and will all but certainly be watching product providers very closely.

Thursday, January 11, 2024 – Eleven spot Bitcoin ETFs have been approved by the US Securities and Exchange Commission (SEC) and start trading today.

The Bitcoin (BTC) price is experiencing choppy trading conditions in wake of the news that the SEC just multiple spot Bitcoin ETF application.

ETFs) to track bitcoin, its Chair Gary Gensler said, in a watershed for the world's largest cryptocurrency and the broader crypto industry. The agency approved applications, including from BlackRock, Ark Investments and 21Shares, Fidelity, Invesco, and VanEck, among others, according to a notice on its website. Some products are expected to begin trading as early as Thursday. The products — a decade in the making — would be a game-changer for bitcoin, offering institutional and retail investors exposure to the world's largest cryptocurrency without directly holding it, and a major boost for a crypto industry beset by a string of scandals. Standard Chartered analysts this week said the ETFs could draw $50 billion to $100 billion this year alone, driving the price of bitcoin as high as $100,000. Other analysts have said inflows will be closer to $55 billion over five years.

The U.S. Securities and Exchange Commission reluctantly approved the first exchange-traded funds that hold bitcoin Wednesday, saying it is still deeply skeptical about cryptocurrencies and that the SEC “did not approve or endorse bitcoin” in its decision.

By Hannah Lang and Suzanne McGee

By Chris Prentice and Douglas Gillison