SBF vs. ETF: Get Rich Quick vs. Get Rich Slowly
The FTX founder was never a man of crypto and the industry is moving on without him, says Laura Shin.
Binary trading platforms with better performance and payouts
ETFs
The FTX founder was never a man of crypto and the industry is moving on without him, says Laura Shin.
Amid the crypto crackdown, a BTC ETF, if approved, would open a new pathway for U.S.-based firms to get a piece of the crypto action – in a way that plays to their conventional strengths.
Impulsive trading in crypto markets is nothing new and the movement in the price of bitcoin (BTC) over the past two days over the addition – and then removal – of BlackRock’s proposed ticker for its spot bitcoin ETF on the Depository Trust & Clearing Corp.’s website is just another example.
U.S. crypto asset manager Grayscale Investments has entered into a partnership with FTSE Russell – the index division of London Stock Exchange parent LSE Group – to create a new crypto indexes business.
Approval is likely before Jan. 10, which is the final deadline for the Ark 21Shares applications, the report said.
Many market participants expect the SEC to greenlight the first U.S.-based spot bitcoin exchange-traded fund early next year.
Bitcoin will rise to between $42,000 and $56,000 if a BlackRock spot bitcoin (BTC) ETF is approved, crypto services provider Matrixport said in a report Thursday.
The bitcoin options market has flipped bullish across different timeframes since Monday’s erroneous ETF report.
The decision, reported by Reuters, boosts the odds that Grayscale Investments will be able to turn its Grayscale Bitcoin Trust (GBTC) into a more investor-friendly ETF.
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler continued his combative stance against crypto “hucksters” in congressional testimony on Wednesday, declining to answer the industry’s most urgent questions while arguing that digital assets companies have been dangerously careless with customer assets.