ETF Financial News

Franklin Templeton has stepped into the digital asset arena with the launch of its spot Bitcoin (BTC) exchange-traded fund (ETF).

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.»

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.

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.

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?

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

The SEC's approval of 11 proposed spot Bitcoin ETFs on January 10 marks a significant milestone, affirming the growing acceptance and legitimacy of Bitcoin in traditional financial markets.

Circle Internet Financial – the issuer of the world’s second-largest stablecoin, USD Coin (USDC) – has quietly filed for an initial public offering (IPO) with federal regulators.

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

After a long wait, US markets regulator Securities and Exchange Commission (SEC) finally gave a go-ahead to the spot bitcoin ETFs on Wednesday, a move that led to a massive jump in the bitcoin prices.

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