While the new spot bitcoin ETFs have received billions in net inflows since opening for business on Jan. 11, a sizable amount of money has been exiting gold ETFs.
Excitement was high about one month ago, when TradFi once again got the regulatory go-ahead to launch an entirely new investment vehicle for crypto. The process of bringing to the U.S. market a spot bitcoin ETF took more than a decade, but on Jan. 11, 10 such products finally began trading. It’s been a hell of a ride since.
All but one of the recently launched spot bitcoin exchange-traded funds (ETF) charge a lower fee than the largest gold ETF, making them a cheaper investment into a gold-like asset.
After the 2008 global financial meltdown, Congress set up a round table of regulators who could wield a unique tool against the next emerging threats. The Financial Stability Oversight Council (FSOC) can tag companies with systemic-risk labels that saddle them with tremendous new restrictions, and the crypto sector has the council’s attention.
Experts said newcomers in the bitcoin investing game could be enticed by Grayscale, the incumbent with a huge lead.
Not all leading candidates have been vocal about crypto – but scattered remarks offer clues about where the industry might be headed under their leadership.
Are prediction markets the future of investigative journalism? Maybe, says Chris Brunet, whose reporting led to Claudine Gay’s resignation – though he’s yet to profit from his scoops.
Customer due diligence requirements for crypto firms may be more stringent than for banks, policy watchers told CoinDesk.
Crypto firms have to do checks on transactions of 1000 euro or more, and the framework adds measures to mitigate risks in transfers with self-hosted wallets.
They make the asset class “less of a scary concept” to mainstream audiences, bitcoin advocate Jameson Lopp said.