Tag Archives: Market News

While Warren has expressed her dissatisfaction with the approval of the 11 BTC ETFs, some lawmakers in the US support the SEC’s decision. In a recent development, US Senator Elizabeth Warren, a key Democratic figure from Massachusetts and a Senate Banking Committee member, has strongly criticized the Securities and Exchange Commission (SEC) for its recent approval of spot Bitcoin exchange-traded funds (ETFs). On January 10, 2024, the SEC authorized 11 asset managers in the US to offer...

Authorities in South Korea have warned local financial institutions from offering spot crypto ETFs following SEC approval in the US. South Korea’s financial regulator, the Financial Services Commission (FSC), has said that the spot Bitcoin ETFs recently approved in the US may contravene the country’s law. In an official statement published on Friday, the regulator sounded a note of warning without providing extensive details: “Domestic securities firms brokering overseas-listed Bitcoin...

US-based customers may now access all 11 spot Bitcoin ETFs in both retirement and brokerage accounts through Robinhood Financial. Robinhood has stayed true to its word by listing all new spot Bitcoin exchange-traded funds (ETFs) on its platform. The US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs on Wednesday, including funds from BlackRock, Grayscale, Fidelity, Invesco, Valkyrie, Bitwise, Hashdex, BZX, VanEck, WisdomTree, and Franklin Templeton. Shortly after the...

Asset management firm Hashdex has unveiled a new advertisement amid the US Securities and Exchange Commission’s (SEC) evaluation of applications for the listing of spot Bitcoin (BTC) tickers on US exchanges for exchange-traded funds (ETFs). The advertisement, shared on December 28 on X (formerly Twitter), features an interview setting from the 1980s, where the subject critiques the use of home computers for everyday tasks, drawing a parallel to the skepticism around emerging technologies....

Marathon Digital and Riot Platforms, sensing the potential for increased demand, have made strategic moves to fortify their positions in the market. In the last 24 hours, Marathon Digital Holdings Inc (NASDAQ: MARA) has witnessed a remarkable 105 million shares in trading volume, surpassing established blue-chip stocks such as Tesla Inc (NASDAQ: TSLA), Apple Inc (NASDAQ: AAPL), and Amazon.com Inc (NASDAQ: AMZN), according to data from Yahoo Finance. Marathon Digital Shares Records Rising...

The amended ETF application came after a series of meetings between Grayscale and the SEC in December. Leading asset manager Grayscale Investments has filed an amended S-3 application seeking to convert its Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETF. Bloomberg analyst James Seyffart confirmed the reapplication with the Securities and Exchange Commission (SEC) on Tuesday, just a few hours after the CEO of the firm’s parent company, Barry Silbert, resigned. Grayscale Finally...

2024 could be a slower year for the business landscape in the US economy, however, many economists are positive that the US recession could be thwarted with a soft landing. Bulls made a strong comeback this year in 2023, and as the year ends, the Fed has given major signals of interest rate cuts in 2024. This has kept the markets upbeat and investors bullish on Wall Street. Does this mean that the US economy is completely out of the woods? Well, not entirely as economists share mixed...

Regarding custody arrangements, the SFC emphasizes that the fund’s trustee or custodian can delegate its crypto custody function solely to an SFC-licensed VATP or entities meeting the crypto custody standards set forth by the HKMA. Hong Kong has announced its readiness to receive applications from traditional financial companies interested in exploring the emerging economy by creating exchange-traded funds (ETFs) tracking spot-based cryptocurrencies. The country already allows...

Recent reports demonstrate that Marathon Digital has been eager to expand its business. The stock of Bitcoin mining company Marathon Digital Holdings Inc (NASDAQ: MARA) has so far seen remarkable growth in 2023. This follows after it surged 628.82% since January 1 to bring its current price to $26.47 on MarketWatch. Although the stock price shows a major decline from its all-time high of $166.40, it also indicates an appreciable gain over the last 12 months. The rise of MARA, however,...

In its initial filing, BlackRock mentioned that the Prime Execution Agent would obtain BTC to support the ETF’s shares on a 1-to-1 ratio. Although the company didn’t disclose the name of the chosen agent, it did identify Coinbase as the proposed custodian.  BlackRock Inc (NYSE: BLK), the world’s largest asset manager, is putting the final touches to its plan for a Bitcoin exchange-traded fund (ETF). As part of the process, the company intends to use a third-party broker, which it regards...