The regulatory process is normally a dry affair: Corporate executives ask their lawyers to file paperwork and then sit around until an agency makes a decision. But in the case of pending applications for a Bitcoin ETF, crypto nerds are sharing any detail—real or imagined—with an obsession reminiscent of Swifties tracking the progress of the...
Former executives of Citigroup Inc. will offer Bitcoin (BTC)-backed securities. According to a Bloomberg report published on Jan. 4 former Citigroup executives will offer BTC-backed securities that they say do not need approval from US regulators. The brazen move will see the issuer startup what is known as a “Receipts Depositary Corporation, or RDC. The securities will be Bitcoin...
Nigeria’s apex bank expanded on its decision to reverse a crypto ban on financial service providers, providing clear rules to oversee operations moving forward. The Central Bank of Nigeria (CBN) announced stringent rules for banks as the watchdog pivoted away from a blanket crypto ban toward regulation for virtual asset service providers, citing a need to...
A recent Security.org report indicates a 10% year-over-year increase in U.S. cryptocurrency ownership, with 46% optimistic about the potential positive impact of Bitcoin ETF approvals in 2024. Based on a survey of 1,500 Americans, 40% currently own cryptocurrency, and of those not yet involved in crypto, 15% expressed an intention to make a purchase in the...
Fidelity Investments has filed registration of securities with the SEC for its spot Bitcoin ETF. With over $4.5 trillion in assets, the firm has filed Form 8-A with the U.S. Securities and Exchange Commission (SEC) to register its Fidelity Wise Origin Bitcoin Fund. This filing indicates a move to make the fund a publicly traded security, a milestone...
Memecoins took the hardest hit in today’s market selloff, losing almost double the market cap of the average market. Earlier today reports from Matrixport regarding the SEC’s potential rejection of Bitcoin ETF applications triggered a significant liquidation across the market. Within four hours, the market lost over $540 million, with Bitcoin and Ethereum dipping nearly 10%. However, it appears...
Fox Business reporter Eleanor Terrett said approval of a spot Bitcoin ETF in early January is unlikely. In an X post, Fox journalist Eleanor Terrett noted that the Securities and Exchange Commission (SEC) still needs to review changes to the S-1 filings for spot Bitcoin ETFs. She said the SEC will likely notify issuers of a final...
Traders taking bets on the platform predict a 90% chance the SEC will approve spot Bitcoin ETFs by mid-January, while the minority is hedging against the converse outcome. Shares of a “Bitcoin ETF approved by Jan 15” contract on Polymarket, a decentralized prediction venue, traded for 90 cents as speculation for a forthcoming decision from the...
If you think Wall Street had a phenomenal year, take a closer look at how the cryptocurrency space fared in 2023. As of the early morning hours on Dec. 28, the aggregate value of all listed cryptocurrencies on CoinMarketCap.com had increased by a cool 115% year to date. Though there are thousands upon thousands of digital currencies to...
While cryptocurrency has surged in popularity in recent years, only a minority of Americans have actually traded it. Among the most popular cryptos are Bitcoin, Ethereum and Cardano, each of which has seen a lot of action as prices rise and fall. The appeal for traders? The potential to make significant money on the volatility of these highly...
