ETF Financial News

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

Bitcoin traded close to $44,000 after notching its longest winning streak since May, a rally driven in part by expectations of looser monetary policy. 

Hedge funds made adjustments to their positions last week, reducing bullish bets on major tech stocks and increasing short positions, according to Morgan Stanley's quant strategists.

In an electrifying leap forward, Bitcoin‘s valuation surged past the $44,000 mark, trading at $43,858 with an impressive nearly 6% increase on Wednesday. This ascent comes after a “jet-fueled” 16% climb over six days, underscoring the cryptocurrency’s robust performance.

Bitcoin futures open interest on the Chicago Mercantile Exchange (CME) – has seen a spike rising from $2.20 billion on September 30th to $5.09 billion today, according to data from Glassnode.

cryptocurrency, jumped over 4.2% to $43,671 in Wednesday's trade. Experts say this upward price shift is likely a response to heightened interest from institutional investors and an overall optimistic market sentiment regarding developments in 2024. Meanwhile, Ethereum, the second largest cryptocurrency, surged 1.6% to $2,270 amid a broader rally in the crypto markets. The global cryptocurrency market cap also increased 2.65% to around $1.59 trillion in the last 24 hours. «BTC has sustained its upward momentum for the fifth consecutive day. This surge is primarily fueled by speculation surrounding the approval of a Bitcoin spot ETF, with investors and traders anticipating approval in 2024,» said the CoinDCX Research Team. Additionally, favorable macroeconomic conditions and increasing inflows contribute to the overall rise in market capitalization, it said.

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A new product puts the leverage of high-powered hedge funds in the hands of the regular investor, allowing them to make a bet that moves 4 times the direction of the stock market on any given day.

Bitcoin is once again having a moment

The bullish drive of institutional investors in recent weeks can be seen across several market metrics as digital assets soar to levels not recorded in months.

Grayscale, a prominent name in the crypto investment sphere, recently made waves with its update on the approval status of the Grayscale Bitcoin Trust’s (GBTC) Spot Bitcoin ETF. This long-awaited development has sparked anticipation and excitement. Meanwhile, Ethereum (ETH) and Everlodge (ELDG) are seeing price surges. Let’s discover why.

By Saqib Iqbal Ahmed

Hedge funds made adjustments to their positions last week, reducing bullish bets on major tech stocks and increasing short positions, according to Morgan Stanley's quant strategists.

Also Read: Israel-Hamas war: How AI helps Israel army select bombing targets in Gaza Short selling is a way to bet against the value of a security. It is a trading strategy aimed at making a profit off an asset that is expected to drop in price. The seller ‘borrows’ a security and sells it on the open market with the goal of buying it back later at a lower price and pocketing the difference.

investment in units of international ETFs with a mandate to invest in US treasury securities across different durations. It's important to note that there is no guarantee that the scheme will achieve its investment objective. Investors can invest under the scheme with a minimum investment of ₹500 per plan/option and in multiples of Re 1.

The recent surge in Bitcoin (BTC) price could be the beginning of a new crypto supercycle that propels the world’s largest cryptocurrency to an astonishing $500,000. 

Taiwan’s Financial Supervisory Commission (FSC) is exploring the possibility of introducing cryptocurrency exchange-traded funds (ETFs).

In a remarkable milestone, Bitcoin has surged to a trading value of $41,740, marking a 2.75% increase on Tuesday. This notable upswing sees the cryptocurrency breaching the $42,000 threshold for the first time since April 2022, a significant moment that underscores the growing mainstream acceptance and resilience of Bitcoin.

By Rae Wee

dollar regained some ground on Tuesday and hovered near a one-week high against major peers, while bitcoin extended its momentum on optimism that U.S. regulators could soon approve exchange-traded spot bitcoin funds. The greenback rose marginally against the yen in early Asia trade to 147.23, helped by a slowdown in core consumer inflation in Tokyo that put downward pressure on the Japanese currency. The euro, meanwhile, languished near a three-week low hit on Monday and last traded $1.0840, while the dollar index stood near a more than one-week high and was last at 103.59. Analysts say the greenback's move higher was in part due to a reversal of its heavy selloff in recent weeks, which saw the dollar index falling some 3% in November, its steepest monthly decline in a year. «I think it's maybe just a little bit of a reassessment as to the U.S.

Indian equities, followed by Taiwanese and South Korean stocks. “Ultimately, India stands out as its own story, as it offers more attractive scale and demographic dividends than most emerging markets, and does so under a democracy," said Malcolm Dorson, the head of emerging-market strategy at Global X Management Co.