ETF Financial News

Bitcoin and crypto stock Coinbase Global have soared on hopes that an exchange-traded fund that holds the digital currency will soon be approved by U.S. regulators. Analysts say that outcome faces long odds.

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The crypto industry is starting to turn even the biggest players on Wall Street to its side, with BlackRock being one of the biggest examples. 

The price of Bitcoin is currently trading at $30,196, representing a drop of nearly %0.50 on Monday. 

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By Hemen Bhatia

Wall Street's main indices ended lower on Friday, capping off a losing week as investors digested a U.S.jobs report that failed to shake off fears that the Federal Reserve may start hiking interest rates again later this month.

Bitcoin (BTC) will suck in “all prosperity gains” in future and leave behind those who have no exposure as a result, a new prediction says.

Cybersecurity stocks took the spotlight during the COVID-19 pandemic in 2020 and 2021 before undergoing a significant correction in 2022. But recently, stocks in the sector have started showing signs of recovery after a slow start to 2023.

Union Mutual Fund is on a growth path now and is looking at adding at least 50 per cent more to the AUM this fiscal, sniffing at Rs 15,000 crore by March. Despite having 22 funds (21 open-ended and one close-ended funds), the fund house sponsored by Union Bank of India and Japanese major Daiichi Life could not reach anywhere in the 43-player scattered industry that controls more than Rs 43 lakh crore of public money in its over 11 years of operations. In the year to March 2023, it had an AUM of just more than Rs 9 crore across 4.96 lakh live folios from 21 cities. Daiichi picked a 39.64 per cent stake in the MF in May 2018. But in terms of its presence in small towns, Union MF does reasonably well with 32 per cent of the AUM coming in from the B30 (beyond top 30) cities and the rest from the T30 (top 30) cities. «As of June our AUM stood at Rs 10,700 crore, up from Rs 9,853 crore in March 2023. We hope to take the AUM to around Rs 15,000 crore by next March as we plan to launch a large thematic fund next month from which we hope to collect at least Rs 500 crore during the NFO period. Of course, a lot will depend on the market,» chief executive G Pradeepkumar told PTI.

On Sunday, Bitcoin price is currently trading at $30,325, showing a slight increase in price. 

gold fell to a four-month low, correcting more than seven percent from May, when it reached close to its all-time high. A steady US dollar and expectations of more rate hikes from the US Federal Reserve weighed on the prices of the yellow metal. A similar selloff was witnessed in domestic gold also.

Investors may want to stick with what's working in the market.

Bitcoin (BTC) price gave back some of its recent gains this week, but multiple data points suggest that $30,000 should hold as support going forward.

Get ready for more volatility, folks, the next major test for the stock market rally is upon us.

On today’s Macro Markets show, veteran stock market and Cointelegraph analyst Marcel Pechman starts by analyzing Argentina’s 150% inflation, which proves that people continue to work and consume (somehow) even if their local currency loses its value.

A possible approval of a spot Bitcoin exchange-traded fund (ETF) won’t be a game changer for crypto markets, although it might benefit the leading cryptocurrency, according to a report by JPMorgan managing director Nikolaos Panigirtzoglou.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Financial giant, JP Morgan believes that an approval of a spot Bitcoin (BTC) ETF by the Securities and Exchange Commission (SEC) will not significantly affect the price and adoption of the asset.

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In this week’s episode of Market Talks, Cointelegraph welcomes Natalie Brunell, a podcast host, educator and media commentator in the Bitcoin space. Her podcast, Coin Stories, consistently ranks among the top 50 to 100 on Apple podcasts. She has over 300,000 Twitter followers, and is an award-winning TV journalist and former investigative reporter.