ETF Euphoria Shows Bitcoin Needs Wall Street After All
Is an ETF at odds with Bitcoin’s goal of breaking away from Wall Street? Absolutely. Is that same ETF also necessary for crypto to grow? Also yes.
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Bitcoin ETF
Is an ETF at odds with Bitcoin’s goal of breaking away from Wall Street? Absolutely. Is that same ETF also necessary for crypto to grow? Also yes.
Ophelia Snyder says it is impossible to conceptualize the changes in bitcoin trading volumes likely through ETF inflows.
The agency said for months it couldn’t approve bitcoin ETFs because of market manipulation. Then, in a delicious irony, it was itself manipulated, showing how even non-news can move markets.
The SEC’s social media account was hacked to say the much-anticipated financial product was approved, perhaps answering the question of what will happen when it actually happens.
The Securities and Exchange Commission (SEC) did not employ basic security measures on its X (formerly Twitter) account when it was “compromised” to spread false bitcoin ETF news, according to the social media company.
Lawmakers and crypto boosters are asking questions about how the SEC’s X (formerly Twitter) account was compromised, leading to a bogus tweet on Tuesday.
The immediate price reaction showed that bitcoin’s price might be capped if a real approval arrives, one analyst noted.
The U.S. Securities and Exchange Commission (SEC) has not approved any spot bitcoin ETF applications as of Tuesday afternoon, despite a tweet from the regulator’s X (formerly Twitter) account saying they had been, the agency’s chair said.
BlackRock and VanEck, two among 13 issuers hoping to launch bitcoin exchange-traded funds (ETFs) in the U.S., have filed updated documents on Tuesday.
Bitcoin could rally 10%-15% more in case the SEC approves spot bitcoin ETFs, LMAX strategist Joel Kruger noted.