During a speech at the 2023 Australia Crypto Convention on Nov. 10, Saylor was asked to give his outlook for Bitcoin and its ecosystem over the next four to five years.Continue Reading on Cointelegraph More
The ETFs available through UBS include the Samsung (KS:005930) Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures ETFs. These funds, which hold a combined value of approximately $72 million, offer exposure to Bitcoin and Ethereum futures rather than the cryptocurrencies themselves. This strategic approach parallels that of HSBC, which had previously initiated offering the same ETFs to its clients in Hong Kong.Hong Kong’s financial regulators have shown a progressive stance towards cryptocurrencies. The Securities and Futures Commission (SFC) CEO Julia Leung has highlighted an interest in innovative technology to enhance efficiency and customer experience in the financial sector. In line with this, the SFC is considering allowing retail investors to access spot ETFs that directly invest in cryptocurrencies, albeit with certain safeguards such as a virtual asset knowledge test. Institutional investors may be exempt from this requirement.This regulatory openness was further evidenced earlier in the year when Hong Kong implemented a licensing regime for virtual asset trading platforms. This initiative paved the way for platforms like HashKey and OSL to offer retail trading services. SEBA Bank AG’s Hong Kong affiliate also received an SFC license, allowing it to trade all securities.UBS’s recent move into crypto ETFs signifies a growing recognition of cryptocurrency’s potential among high-net-worth clients who are seeking new avenues for investment. As major financial institutions like UBS and HSBC expand their digital asset offerings, it reflects an increasing melding of traditional finance with the emerging world of cryptocurrencies.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
That is Solana’s best weekly performance since January 2023. Many factors have contributed to the gains, including a general cryptocurrency market uptrend led by Bitcoin ETF euphoria and growing appetite for risk overall.Continue Reading on Cointelegraph More
Market observers are increasingly optimistic that spot Bitcoin ETFs will be greenlighted by the United States Securities and Exchange Commission in 2024. Bloomberg Intelligence research analyst James Seyffart said on X (formerly Twitter) that there is still a 90% possibility that the regulator will approve a spot Bitcoin ETF by Jan. 10 of the next year. Continue Reading on Cointelegraph More
This shift represents a critical perspective that is set to guide three theses for the upcoming bull market. To fully grasp these theses, it is crucial to understand that everything is data. Money is data. Your engagement with a brand is data. Your credentials are data. The ticket for your favorite show is data.Continue Reading on Cointelegraph More
Former Hodlnaut interim judicial manager (IJM) Aaron Loh Cheng Lee announced in a letter dated Nov. 10 and posted on the website of EY that he and fellow IJM Ee Meng Yen Angela have been discharged from that position and appointed liquidators. Continue Reading on Cointelegraph More
BlackRock’s plan for a spot-Ether (ETH) ETF called the “iShares Ethereum Trust” was officially confirmed on Nov. 9, after Nasdaq submitted the 19b-4 application form to the SEC on the firm’s behalf. Continue Reading on Cointelegraph More
The fervor around potential SEC approval has been building, with the regulatory body set to decide on fund managers’ offerings by November 17. However, even with this deadline in sight, the launch of these ETFs could face delays. The excitement reached its zenith when Bitcoin futures peaked at $37,450 at 5:22 am ET on the Chicago Mercantile Exchange (CME).Investors and analysts alike have been closely monitoring the situation. Notably, Grayscale is engaging with the SEC to convert its Bitcoin Trust into an ETF, adding further momentum to the bullish sentiment. The possibility of a physical backing for spot Bitcoin ETFs introduces a new layer to cryptocurrency investment, potentially attracting more institutional investors.This surge in price has not been without its volatility. Following a period of profit-taking, Bitcoin’s price experienced a swift decline below $37,000. This price movement was accompanied by significant liquidations across Asian exchanges like BitMEX and OKEx, where approximately $78.44 million worth of Bitcoin shorts were wiped out within 24 hours.Adding to the complexity of the market landscape are concerns voiced by prominent figures like Arthur Hayes and Samson Mow. Hayes raised alarms over a potential BlackRock-managed Bitcoin ETF that could lead to a “Bitcoin bifurcation,” while Mow pointed out the implications of institutional investors’ focus on Bitcoin.Despite these concerns, the bullish trend appears to be underpinned by Bitcoin’s four-year halving cycle and intense speculation over the SEC’s green light for a Bitcoin ETF. Binance has also stirred up investor interest by offering a $100 bonus to new registrants, further fueling market activity.As traders and investors navigate this dynamic environment, they remain keenly aware that short selling can paradoxically cause sharp price increases when there is an asset shortage. This scenario played out recently when short sellers were forced to buy more to cover their positions during early Asian trading hours on Friday, leading to nearly $50 million being liquidated in just four hours.The crypto market continues to evolve with these developments, as stakeholders eagerly await the SEC’s decision and its impact on the future of Bitcoin investing.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
