Browsing:BTC

The US SEC is dealing with a significant backlog of paperwork as the highly anticipated deadline for Bitcoin ETF approval approaches.
5 months ago 1 min read

Bitcoin ETF Awaits SEC Decision Amidst Paperwork Pile-Up

The United States Securities and Exchange Commission (SEC) is dealing with a significant backlog of paperwork as the highly anticipated deadline for Bitcoin Exchange-Traded Fund (ETF) approval approaches. Despite the administrative hurdles, the market is cautiously optimistic about the prospect of a Bitcoin ETF. Concerns have been raised about the SEC’s ability to process the extensive paperwork promptly as the deadline approaches. Eleanor Terrett, a FOX Business journalist, expressed skepticism about an immediate approval, citing the SEC’s unpredictable nature. However, the recent 7.12% increase in Bitcoin’s price indicates that the market is optimistic about a positive outcome. Scott Melker, a

Bitcoin SV (BSV)
5 months ago 1 min read

Bitcoin SV (BSV) Surges By Over 110%

Bitcoin SV (BSV), the Bitcoin hard fork token, is experiencing a significant surge, surpassing $100 for the first time since February 2022. This remarkable price increase, accounting for nearly 110% in just one week, can be attributed to increased trading activity and growing interest in the South Korean market. The increased trading activity and interest in the South Korean market have been the driving forces behind BSV’s recent surge. Upbit, South Korea’s largest crypto exchange, has been instrumental in this upward trend. Upbit saw a significant $275 million in BSV trading activity on New Year’s Day, contributing significantly to the

Investors Eye Key US Economic Reports as Crypto Market Surges
5 months ago 1 min read

Bitcoin (BTC) Surges Past $45.5K as Investors Await Major U.S. Reports

As the new year begins, crypto enthusiasts and mainstream investors are closely monitoring key economic reports from the United States. The emphasis is on traditional financial indicators and the burgeoning crypto market, where Bitcoin’s recent surge has sparked considerable interest. Investors are especially interested in upcoming reports that provide insight into the state of the US economy. The Institute for Supply Management’s December ISM Manufacturing PMI report is scheduled for release on Wednesday. This report is an important indicator for investors because it provides a snapshot of the overall health of the US manufacturing sector. Furthermore, the minutes of the

The SEC of the United States is expected to issue a positive signal regarding the approval of spot Bitcoin exchange-traded funds (ETFs).
5 months ago 1 min read

SEC May Signal Approval for Bitcoin ETFs, Paving the Way for Launches by January 10

The Securities and Exchange Commission (SEC) of the United States is expected to issue a positive signal regarding the approval of spot Bitcoin exchange-traded funds (ETFs). This development may pave the way for several asset management firms, such as Ark Investments, 21Shares, Valkyrie, and others, to launch ETFs as early as January 10. The possibility of approval has sparked excitement in the crypto industry, with experts predicting increased institutional investor participation. According to industry experts, the SEC may soon notify asset managers of the approval of spot Bitcoin ETFs. Notably, several firms, including Ark Investments and 21Shares, submitted proposals before

Bitwise Takes the Lead in US Bitcoin ETF Race with $200M Seed Capital,
5 months ago 1 min read

Bitwise Takes the Lead in US Bitcoin ETF Race with $200M Seed Capital, BlackRock Partners with JPMorgan in Finance’s Crypto Shift

The race among major financial institutions to launch the first US Bitcoin Exchange-Traded Fund (ETF) heats up, with Bitwise taking the lead with a significant $200 million seed capital. This amount exceeds BlackRock‘s $10 million seed capital, giving Bitwise a strong start in the race to launch a Bitcoin ETF. Bitwise recently filed its S-1 form, revealing a seed capital of $200 million for its Bitcoin ETF. While the identity of the investor is unknown, the substantial amount positions Bitwise favorably in the competitive ETF landscape. Seed capital is critical for launching an ETF, facilitating investor access, and supporting the

Grayscale has made a significant step forward by submitting a new request to the SEC to convert its Bitcoin Trust (GBTC) into a Bitcoin ETF.
5 months ago 1 min read

Grayscale aims for early Bitcoin ETF approval by the SEC and adapts to a cash-only model

Grayscale has made a significant step forward by submitting a new request to the Securities and Exchange Commission (SEC) to convert its Bitcoin Trust (GBTC) into a Bitcoin Exchange-Traded Fund (ETF). This strategic shift aligns with Grayscale’s goal of obtaining early approval for its Bitcoin ETF, with the SEC expected to make a critical decision by January 10, 2024. Grayscale’s recent filing is notable for its willingness to embrace a cash-only model, a requirement imposed by the SEC. Unlike traditional ETFs, which allow for in-kind trades, ETFs that operate on a cash-only model only conduct transactions in cash. This adaptation

MicroStrategy buys an additional 14,620 BTC for $615.7 million
5 months ago 1 min read

MicroStrategy buys an additional 14,620 BTC for $615.7 million

MicroStrategy led by Bitcoin advocate Michael Saylor, has confirmed its ongoing commitment to Bitcoin accumulation as speculation swirls around the potential approval of a spot Bitcoin ETF in the United States. MicroStrategy disclosed a significant purchase of Bitcoin between November 20, 2023, and December 26, 2023, in its most recent 8-K filing with the US Securities and Exchange Commission. MicroStrategy and its subsidiaries acquired an additional 14,620 BTC for a total of $615.7 million in cash during this period. The cost of one Bitcoin, including fees, was nearly $42,110. This strategic acquisition comes on the heels of MicroStrategy’s significant purchase

Bitcoin ETF Could be Approved By January, Cathie Wood
5 months ago 1 min read

Cathie Wood: U.S. Approval of Bitcoin ETF Expected in January 2024

Cathie Wood, CEO of ARK Invest, is bullish on the prospect of a spot Bitcoin ETF being approved in the United States. Recent interactions with the U.S. Securities and Exchange Commission (SEC), according to Wood, have been encouraging, indicating a potential breakthrough for the institutional adoption of crypto. Wood emphasized a positive shift in the SEC’s approach during recent meetings with companies that have filed for Bitcoin ETF approval, including industry titans like BlackRock and Grayscale. She stated that the SEC’s detailed questioning suggests a more thorough evaluation process than in previous denials. Wood stressed the importance of clear communication

Nigeria's Central Bank Lifts Crypto Ban
5 months ago 1 min read

Nigeria’s Central Bank lifts crypto ban, sparking potential rivalry between crypto exchanges and P2P sellers

Nigeria’s Central Bank (CBN) has lifted the ban on banks engaging in crypto transactions, signaling a watershed moment in the country’s crypto landscape. This move is expected to increase competition between established cryptocurrency exchanges and the thriving peer-to-peer (P2P) trading community. Prior to this change, the CBN had imposed a ban on banks handling cryptocurrency transactions, resulting in an increase in P2P trading. Despite the ban, people continued to use Bitcoin and other crypto, preferring direct peer-to-peer transactions. Cointelegraph spoke with Nathaniel Luz, co-founder of a cryptocurrency company, to learn more about the potential impact of this policy shift. Luz

Bitcoin Bulls Reclaim Control
5 months ago 1 min read

This Crypto Analyst Thinks Bitcoin Price Can Hit $47,000 in The Coming Days

Bitcoin (BTC) appears to be going back to life after a shaky period! This week, the price surpassed $43,000, leaving bears in the dust and rekindling hope for greater heights. Ali Martinez, a prominent crypto analyst, has weighed in with his predictions, painting a picture of what might come next for the king of crypto. Martinez sees $43,200 as a critical level of support for Bitcoin. This is a bridge that must be crossed to maintain momentum. What’s the good news? Bitcoin broke through this barrier on December 20th and has remained stable since. Martinez believes that if Bitcoin remains

The Total Value Locked (TVL) in the Base Network has risen to nearly $734 million
5 months ago 1 min read

Coinbase’s Base Network Achieves Consistent Growth, Reaching $734 Million in Total Value Locked

Despite a slowdown in the initial growth surge, Coinbase‘s Base Network, an initiative developed through its incubator, continues to make steady progress. According to L2Beat data, the Total Value Locked (TVL) in the Base Network has risen to nearly $734 million, a 4.63% increase from the previous week. The Base Network TVL has increased significantly since its formal launch in August 2023, starting at $592 million at the end of November. The initiative is built on the Optimistic Rollup architecture, which allows for the integration of various decentralized applications. With over 6.97 million transactions completed in the last 30 days,

Craig Wright Gets Slapped With $1 Million Fine
5 months ago 1 min read

Craig Wright faces a $1 million fine as his Bitcoin lawsuit progresses

Craig Wright’s legal battle against Bitcoin Core developers has taken a dramatic turn in the ongoing saga surrounding the identity of Bitcoin’s creator. The trial, in which Wright claims to be Bitcoin’s enigmatic founder, Satoshi Nakamoto, has been rescheduled for February 5. The lawsuit concerns developers and major corporations such as Blockstream and Coinbase. Wright claims that these developers and firms used his Bitcoin technology without his permission and that they own the intellectual property associated with Bitcoin’s creation. Wright has submitted 97 new documents to support his case, including files he believes are critical to Bitcoin’s inception. However, developers

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