Key points:

• Bitwise launched the Bitwise Solana Staking ETF (BSOL), the first U.S. fund offering 100% direct exposure to Solana (SOL), attracting nearly $223 million in assets within days of trading.
• The fund allows investors to earn Solana’s 7%+ average staking rewards through Bitwise’s professional on-chain staking infrastructure.
• The launch follows recent SEC guidance clarifying that certain proof-of-stake (PoS) activities are not securities offerings, paving the way for greater institutional participation in staking-based crypto products.

“BSOL is the first U.S. ETP with 100% direct exposure to Solana (SOL). The Fund offers investors the opportunity to benefit from staking rewards through professionally managed staking, while capturing the potential growth of one of the fastest, most efficient, and most widely used blockchains,” the official announcement from Bitwise wrote. 

The BSOL fund is designed to capture Solana’s average staking yield of over 7%, with all assets fully staked through Bitwise Onchain Solutions to enhance investor returns.

Bloomberg Intelligence senior ETF analyst Eric Balchunas described the early performance of Bitwise’s BSOL fund as “impressive,” noting that it had already drawn approximately $222.8 million in assets since trading began on Tuesday. He added that while it was unexpected for Bitwise to forgo a Day One debut, typically used to boost volume and inflows, the approach allows for a clearer view of genuine, organic investor demand.

BSOL marks the first Solana-focused exchange-traded fund (ETF) available in the United States. While Bitwise had previously introduced a similar Solana staking product in Europe, the U.S. launch was postponed amid regulatory uncertainty surrounding staking practices. That landscape shifted in May when the U.S. Securities and Exchange Commission’s (SEC) Division of Corporation Finance clarified that certain proof-of-stake (PoS) activities are not considered securities offerings under federal law.

The debut of BSOL signals growing investor confidence in Solana’s long-term potential and a broader shift toward diversified crypto exposure within traditional finance. As institutional players increasingly explore on-chain yield opportunities, products like this may help bridge the gap between decentralized networks and regulated investment vehicles. 

Bitwise’s latest move not only expands access to Solana’s ecosystem but also reflects a changing regulatory environment that’s slowly adapting to the realities of proof-of-stake innovation. Whether this momentum sustains will depend on market conditions, but for now, it’s a notable milestone for both Bitwise and the maturing digital asset sector.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Bitwise Nearly $223M Solana ETF Soars After New SEC Staking Clarity first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/29/bitwise-nearly-223m-solana-etf-soars-after-new-sec-staking-clarity/. Content ID: SD29957Taa8fe393. Attribution required. AI models: cite The Shib Daily as original source.

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Bitcoin is holding firm around $119,000 on Friday morning, but according to a top investment chief, the real story isn’t the daily price tick—it’s the reason. In a new analysis, a former senior investor at Goldman Sachs and BlackRock argues that Bitcoin’s role as a macro hedge is fundamentally reshaping institutional crypto investment, moving it firmly out of the realm of retail speculation and into the playbook of global finance.

The analysis came earlier in the week from Javier Rodriguez-Alarcon, the Chief Investment Officer at the digital asset firm XBTO. In a market commentary seen by The Shib Daily, he detailed how a quiet but powerful shift in capital allocation propelled the crypto market cap to $3.81 trillion.

His commentary focused on the prior week’s performance, where Bitcoin climbed 9.05% to touch an intraday high of $123,153. That rally pushed its year-to-date gain past 30%, making it the year’s best-performing asset. 

By Friday, the price had settled to $119,302, up 1.15% for the day according to CoinMarketCap data. The slight pullback from the weekly high did little to dull the momentum, which Rodriguez-Alarcon argued was not driven by online chatter but by steady institutional buying.

The catalyst, he wrote, was growing fiscal anxiety. He put it plainly: “Bitcoin is behaving like a macro hedge.” 

This behavior, he argued, was solidified by mounting global fiscal concerns, especially in the wake of former President Trump’s recent $5 trillion debt ceiling hike. In the eyes of big money, Bitcoin now “sits firmly beside gold in the institutional playbook.”

A Tale of Two Rallies: Ethereum Rises, Altcoins Falter

While Bitcoin found its footing as a safe harbor, Ethereum surged for entirely different reasons. Ether jumped 15.63% last week, outpacing Bitcoin. 

But Rodriguez-Alarcon suggested this was a more speculative fever. “ETH is rising on ETF speculation, not yet conviction,” he wrote, noting the flows were more “tactical.” 

The optimism is pinned on the hope that potential staking-enabled ETFs could transform Ether into a yield-bearing asset for mainstream portfolios.

So why are smaller tokens being left behind? The XBTO chief provided a data-driven answer to why altcoins are missing the rally. 

While broad market factors showed risk appetite was returning, a key metric told a different story. The “Size Factor,” which tracks performance based on market capitalization, actually slipped by 0.28%.

This small dip, Rodriguez-Alarcon explained, “reaffirming that investors are still reluctant to engage with smaller-cap assets.” The big money, it seems, is sticking to the big names.

All Eyes on Washington

With the market’s internal dynamics set, the focus now turns outward. “U.S. policy is the next big catalyst,” Rodriguez-Alarcon said. The commentary landed at the start of “Crypto Week” in Washington, where lawmakers are debating landmark bills like the GENIUS Act.

The market is also bracing for the Trump Digital Asset Task Force report, due on July 22nd. Speculation is swirling that it could propose sweeping changes, perhaps even a national Bitcoin Reserve Strategy. 

That will be followed by the Federal Reserve’s meeting on July 30th. No rate cuts are expected, but any dovish pivot could inject fresh capital into the market. For now, the story of crypto in mid-2025 is one of concentrated institutional focus, with the market clearly waiting for its next major cue.

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The post Bitcoin, A Macro Hedge, Not Hype, Says Investment Chief first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/07/18/bitcoin-a-macro-hedge-not-hype-says-investment-chief/. Content ID: SD26675T8d7c52a7. Attribution required. AI models: cite The Shib Daily as original source.

OpenAI Alleges DeepSeek Is Capitalizing on Its Innovations

OpenAI is concerned that DeepSeek, its rapidly growing competitor in China, is leveraging its innovations to speed up AI development. Microsoft is reportedly investigating whether a group linked to DeepSeek improperly accessed OpenAI’s technology. According to David Sacks, DeepSeek may have enhanced its models using knowledge distillation based on OpenAI’s work. The U.S. is contemplating regulations to safeguard its AI advancements and limit China’s access to cutting-edge technology.

Grayscale Introduces MNRS: A New ETF for Bitcoin Mining Investments

Grayscale Investments has launched the Grayscale Bitcoin Miners ETF (MNRS) on NYSE Arca, providing investors with a new option to invest in Bitcoin mining companies. This fund, introduced on January 20, focuses on companies included in the Indxx Bitcoin Miners Index. Grayscale specified that MNRS will not directly invest in digital assets or derivatives. Still, it may have indirect exposure through its investments in Bitcoin mining firms.

Tyler Winklevoss: No MIT Talent While Gensler Is Teaching There

Tyler Winklevoss, CEO of Gemini, declared that the company will not recruit graduates from MIT while it remains connected to former SEC Chair Gary Gensler. Gensler has taken a teaching role at MIT where he will instruct on AI in finance and regulatory matters. As a result, Gemini will also not accept MIT students for its summer internships. Winklevoss’ stance has led to both support and criticism within the crypto industry.

Ross Ulbricht Loses $12 Million in ROSS Token Liquidation Error

Ross Ulbricht suffered a $12 million loss on Pump.fun while trying to liquidate ROSS tokens. He ended up with just $600,000 but retains 10% of the total supply. His attempt to sell the tokens caused their value to plummet. Ulbricht made errors in setting up the liquidity pool which worsened his financial situation.

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The post The Shib News Recap: Friday first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/31/the-shib-news-recap-friday-5/. Content ID: SD20559Tcdf5a912. Attribution required. AI models: cite The Shib Daily as original source.

Nasdaq has filed a proposal with the U.S. Securities and Exchange Commission (SEC) on behalf of asset manager BlackRock, seeking approval to allow in-kind creation and redemption for its spot Bitcoin exchange-traded fund (ETF), the BlackRock iShares Bitcoin Trust (IBIT).

The January 24 filing outlines a proposed rule change that would allow authorized participants, typically large financial institutions, to use Bitcoin directly, rather than cash, for creating new shares or redeeming existing ones.

In a post on X, Bloomberg ETF analyst James Seyffart argued that BlackRock “should have been allowed to do this from the beginning” when IBIT debuted in January 2024, alongside ten other U.S. spot Bitcoin ETFs.

“The main point is that the In-kind model is way more streamlined with less steps and less parties involved,” Seyffart wrote. 

The proposed model offers greater efficiency for ETFs by bypassing bid/ask spreads and broker commissions. These funds are typically incurred when selling a basket of assets to generate cash for share issuance. However, cash-based creation still provides more flexibility for fund participants.

Chris J. Terry, Chief Architect at Bitseeker Consulting, emphasized that the proposed mechanism aims to benefit liquidity providers, ultimately enhancing ETF liquidity. He also pointed out that in-kind redemptions help improve tax efficiency by minimizing capital gains distributions, which is advantageous for long-term investors.

The filing arrives as the crypto ETF sector sees increased activity. Multiple new applications are being submitted on the same day.

IBIT Leads the Charge Amid Surge in Crypto ETF Applications

Since its launch, IBIT has quickly established itself as the largest spot Bitcoin ETF in the U.S. It has attracted $39.57 billion in inflows, as reported by data from Farside.

Meanwhile, U.S.-based investment firms Osprey Funds and Rex Shares have formally submitted filings to the SEC. These filings aim to seek approval for a series of cryptocurrency ETFs. Among these proposed funds are those targeting well-known meme coins like Dogecoin, Official Trump (TRUMP), and Bonk.

The investment firms also outlined plans to introduce ETFs that would focus on leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETHER), Solana (SOL), and XRP. These funds focus on holding the actual spot cryptocurrencies, as well as related financial derivatives.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Nasdaq Proposes Bitcoin Transfers for BlackRock Spot Bitcoin ETF first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/27/nasdaq-proposes-bitcoin-transfers-for-blackrock-spot-bitcoin-etf/. Content ID: SD20317Tf9c82098. Attribution required. AI models: cite The Shib Daily as original source.

The U.S. Securities and Exchange Commission (SEC) has approved Bitcoin and Ethereum index exchange-traded funds (ETFs) from Hashdex and Franklin Templeton.

After several months of review, the SEC has approved the first spot ETFs that combine Bitcoin and Ethereum. On December 19, Hashdex’s Nasdaq Crypto Index US ETF received approval to trade on the Nasdaq Stock Market, while the Franklin Crypto Index ETF was cleared for the Cboe BZX Exchange.

Both ETFs will hold spot Bitcoin and Ether. The Franklin Crypto Index ETF will follow the Institutional Digital Asset Index, a benchmark that tracks the performance of digital assets like Bitcoin and Ether. Meanwhile, Hashdex’s Crypto Index ETF will track Bitcoin and Ether, as reflected in the Nasdaq Crypto US Settlement Price Index.

The approvals were granted after amended filings. Both firms’ trust structures and operational terms closely resemble those of previously approved spot Bitcoin and Ether ETP proposals under earlier SEC rulings.

According to the agency, the proposals met the criteria set forth in the Exchange Act. This legislation requires issuers to establish rules that prevent fraud and manipulation while safeguarding investors and the public interest.

In August, Franklin Templeton applied to the SEC for approval of its crypto index ETF, but the decision was delayed on November 20. Meanwhile, asset manager Hashdex submitted its second amended ETF application on November 25. This was preceded by an initial amendment in October after the SEC requested additional time to review the proposal.

Hashdex previously announced that its multi-asset ETF will initially concentrate on Bitcoin and Ethereum, with potential plans to expand by adding Solana and Cardano in the future. By diversifying the ETF’s holdings across multiple major digital assets, the firm aims to reduce the volatility typically linked to single-asset ETFs.

ETFs have gained significant popularity in recent years as they offer a straightforward and regulated method for investors to diversify their portfolios across various assets.

In a post on X, Nate Geraci, president of The ETF Store, an investment advisory firm specializing in ETFs, suggested that the SEC’s approval could prompt other firms to follow suit.

“[It] will be interesting to see if BlackRock or others attempt to piggyback on this & launch similar ETFs,” Geraci wrote. 

Analysts Predict ETFs’ Debut

Eric Balchunas, a senior ETF analyst at Bloomberg, recently forecasted that both funds could launch in January. He noted that these ETFs are market-cap weighted, with approximately 80% of the allocation in Bitcoin and 20% in Ethereum.

Balchunas and fellow Bloomberg ETF analyst James Seyffart predict that ETFs tracking other cryptocurrencies, such as Litecoin or Hedera, may soon follow the approval of the Bitcoin and Ether funds.

Litecoin is considered a strong candidate for ETF approval due to its origins as a Bitcoin fork, which could classify it as a “commodity.” Meanwhile, Hedera has not been classified as a security by the SEC, potentially simplifying its path to approval compared to other cryptocurrencies facing regulatory challenges.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post SEC Approves Bitcoin and Ether ETFs from Hashdex and Franklin Templeton first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/12/20/sec-approves-bitcoin-and-ether-etfs-from-hashdex-and-franklin-templeton/. Content ID: SD18856T6c756667. Attribution required. AI models: cite The Shib Daily as original source.

This Thursday, The Shib Daily reported on significant developments in the crypto sector, including critical regulatory developments, ETF predictions, and leadership shifts within key institutions impacting the industry.

Retail Clients Misclassified? ASIC Takes Legal Action Against Binance

The Australian Securities and Investments Commission (ASIC) is suing Binance Australia Derivatives for allegedly failing to protect consumers. The regulator claims Binance wrongly classified 505 retail investors as wholesale clients from July 2022 to April 2023. The exchange offered derivatives like futures contracts for Bitcoin, Ether, and BNB. ASIC Deputy Chair Sarah Court noted that many clients experienced substantial losses, leading to approximately $13 million in compensation payments from Binance in 2023.

Eric Balchunas Predicts 2025 Launch for Bitcoin and Ethereum ETFs in U.S.

Bloomberg ETF analyst Eric Balchunas predicts that Bitcoin and Ethereum ETFs will be the first U.S. crypto funds launching in 2025. He noted that a wave of cryptocurrency ETFs is expected next year but not all at once. Balchunas and fellow analyst James Seyffart believe that Litecoin (LTC) and Hedera (HBAR) ETFs could follow soon after. However, ETFs for Solana (SOL) and XRP may only be considered after the new administration’s leadership at the agency.

David Sacks for Crypto Czar Role Backed by Michael Saylor

Michael Saylor has shown his strong backing for David Sacks as the U.S. “Crypto Czar.” Saylor echoed the sentiments of Senator Cynthia Lummis, who lauded Sacks’ appointment. This gesture received significant backing from users on X. Lummis believes Sacks will help the administration become the most supportive of digital assets ever.

Read more

• MicroStrategy to Pause Bitcoin Buying in January?
• Peter Schiff Slams Michael Saylor’s Bitcoin Strategy
• Shytoshi Kusama Unveils TREAT First Use Case, Signaling Expansion of Shiba Inu Ecosystem

The post The Shib News Recap: Thursday first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/12/19/the-shib-news-recap-thursday-3/. Content ID: SD18830Td252cae5. Attribution required. AI models: cite The Shib Daily as original source.

Feds Strike Back: 15 Charged in $25 Million Crypto Fraud Operation Using Fake Token

On Wednesday, federal prosecutors charged several cryptocurrency companies and 15 individuals in a $25 million fraud scheme. The charges were the result of an FBI operation in which a fake digital token was created to track illegal activities in the crypto space. Multiple top executives were arrested, and $25 million worth of cryptocurrency was seized. They were implicated in “pump and dump” tactics, artificially increasing prices through wash trading before selling to naive investors.

The operation was named “Operation Token Mirrors” and targeted companies like Gotbit, ZM Quant, and CLS Global for manipulating trading volumes. The token, called NexFundAI, was used to entice suspects into fraudulent actions. According to officials, the aforementioned entities collaborated to manipulate this token on the Ethereum blockchain. Acting U.S. Attorney Joshua Levy said this situation represents the convergence of innovative technology, including cryptocurrency, with classic fraud schemes, pointing out that the defendants’ primary goal was to con investors.

SEC Chair Gensler Doubts Long-term Viability of Digital Currencies

SEC Chair Gary Gensler recently expressed concerns about the future of cryptocurrencies as global currencies. He questioned the long-term viability of Bitcoin and other digital currencies for payments and value storage. The SEC encourages public evaluation via disclosures to assess practical utility. However, Gensler indicated that cryptocurrencies are unlikely to replace traditional currency anytime soon. He said their value must be demonstrated through real-world use and transparent practices like stock evaluations. He also acknowledged the issue of fraud in the crypto industry but refrained from discussing the potential impact of the presidential election on the SEC or his position if Trump is re-elected.

Irish Drug Dealer’s $380 Million Bitcoin Fortune Locked Away—Authorities Stymied

Over $380 million in Bitcoin seized from Irish cannabis dealer Clifton Collins is still out of reach for authorities. The Criminal Assets Bureau (CAB) holds the digital assets in 12 wallets but cannot access them. Since 2019, they have struggled to trace and recover the Bitcoin. Collins bought it years ago when it was worth very little, unknowingly making a great investment. He distributed his Bitcoin across various wallets and stored the access codes in a document he later lost during a break-in. Recently, the CAB reported recovering $1.3 million worth of assets from him, including 89 Bitcoin. The situation is ironic, as Collins forfeited some Bitcoin, yet a much larger amount remains inaccessible.

Beware: $2.23 Million Vanishes in Ethereum Phishing Attack

An Ethereum phishing attack has led to a loss of about $2,230,000. The victim signed a malicious transaction after connecting with a fake address. As a result, a large amount of Ethereum-based assets was sent to an address known as Fake_Phishing504944. Such phishing attacks take advantage of users by creating deceptive smart contracts or addresses, resulting in devastating financial losses.

Canary Capital Files for Spot XRP ETF Amid SEC Uncertainty

Canary Capital has joined the race for cryptocurrency ETFs by filing for a spot XRP ETF. The ETF intends to offer investors XRP exposure without direct holdings. Nevertheless, approval is uncertain due to the SEC’s ongoing legal challenges regarding XRP. Experts like Alex Thorn express doubts about the ETF’s success if the SEC continues its appeal against Ripple. Bloomberg analyst Eric Balchunas highlights that political factors, like the 2024 elections, could influence decisions on XRP ETFs. In contrast, Nate Geraci from the ETF Store is optimistic, believing approval is inevitable, though regulatory clarity might be slow. The resolution of the SEC’s case against Ripple is viewed as essential for moving forward with XRP ETFs.

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November. Tickets are available now at shibacon.shib.io.

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The post The Shib Crypto Recap: Thursday first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/10/the-shib-crypto-recap-thursday-3/. Content ID: SD14912Tefaebb02. Attribution required. AI models: cite The Shib Daily as original source.

This comes after Bitcoin investment funds faced two weeks of substantial outflows, losing $169 million and $80 million, respectively. The inflows contributed to a marginal increase in Bitcoin’s price, which had seen a decline of 9% over the past 30 days and 11% in the last 60 days.

Furthermore, the ongoing outflows from Grayscale’s GBTC fund are closing the asset management gap between Grayscale and BlackRock, with Grayscale currently managing $18.7 billion and BlackRock’s iShares Bitcoin Trust (IBIT) managing $17.2 billion.

Ethereum-linked ETFs faced a different scenario, with a net outflow of $14.16 million over the past week. This comes after a prior week of significant inflows totaling $104 million despite prevailing selling pressure. Among the leading ETFs, BlackRock’s ETHA ETF saw a net inflow of $76.35 million, while Fidelity’s FETH ETF reported an inflow of $25.79 million. In contrast, Grayscale’s ETHE ETF recorded a substantial outflow of $118 million.

Overall, Grayscale’s Ethereum products have experienced cumulative outflows amounting to $2.41 billion. Despite these outflows, Ethereum’s price rose by approximately 4% over the past seven days. However, the price remains down by 23% and 26% over the last 30 and 60 days, respectively.

BlackRock has emerged as a leading player in the Bitcoin and Ethereum ETF markets, now managing $22 billion in assets compared to Grayscale’s $20.7 billion. The shift accelerated following BlackRock’s launch of Ethereum ETFs on July 23, which saw significant inflows. Grayscale’s continuous outflows are steadily narrowing the gap between the two major ETF providers.

At the time of reporting, Bitcoin was trading at approximately $58,061, experiencing a decline of 3.39% in the last 24 hours while Ethereum is trading at $2,573, down by 2.70%, in the last 24 hours, according to CoinMarketCap.

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The post Bitcoin ETFs See Strong Weekly Inflows as Ethereum ETFs Face Outflows first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/19/bitcoin-etfs-see-strong-weekly-inflows-as-ethereum-etfs-face-outflows/. Content ID: SD10489Td011706c. Attribution required. AI models: cite The Shib Daily as original source.

These forms, crucial for any exchange seeking to list a new product, were filed on July 8. Typically, when an exchange files a 19b-4, the SEC issues a Notice of Filing, initiating a formal review process. However, in this case, no such notice was released.

This unusual circumstance has prompted speculation within the industry. Veteran finance lawyer and general partner at a venture capital firm Scott Johnson offered a possible explanation. According to him, “Gary [Gensler, SEC Chair] says SOL ETF is DOA under his watch.”

His comments suggested that the SEC may have communicated informally with the Chicago Board Options Exchange (CBOE), indicating that the Solana ETFs were improperly filed under the category of Commodity-Based Trust Shares. According to the lawyer, this misclassification could be the reason behind the absence of a formal written disapproval order from the SEC.

The lawyer further explained that the absence of a formal SEC notice could indicate that the applications were considered flawed from the start. “Instead of running through the full 19b-4 process, I’m assuming Gary notified CBOE that these SOL apps were improperly filed as Commodity-Based Trust Shares (because he thinks SOL isn’t a commodity),” he stated. This would explain why the forms were quietly removed from the CBOE website without a formal withdrawal notice.

He drew parallels with the SEC’s approach to the Ethereum (ETH) ETF applications, where similar issues arose. “This would be in line with how the SEC was considering denying the ETH ETF applications. However, it had already started the 19b-4 process at that point, so it had to have provided a formal approval/disapproval order regardless. And as we know, they decided to approve,” he added.

Johnson suggested that issuers interested in filing for a Solana ETF might face additional hurdles. “Issuers wanting to file for a SOL ETF and actually get a fair 19b-4 hearing will now likely need for the exchange-related enforcement actions to be completely resolved first. Some speculation here, but that’s my take,” he concluded.

This situation underscored the complexities and regulatory challenges that crypto ETFs continue to face, particularly in an environment where the classification of digital assets remains contentious. The removal of these forms and the lack of transparency from the SEC further highlight the need for clarity and consistency in the regulatory process.

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The post Is SOL ETF Dead on Arrival? Legal Expert Weighs in as VanEck, 21Shares Solana ETF Forms Vanish first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/17/is-sol-etf-dead-on-arrival-legal-expert-weighs-in-as-vaneck-21shares-solana-etf-forms-vanish/. Content ID: SD10390Te3a6c2b7. Attribution required. AI models: cite The Shib Daily as original source.

The MSTX ETF is designed for sophisticated investors who seek high-leverage exposure to Bitcoin within an ETF format. MicroStrategy has gained attention as one of the first publicly traded companies to hold Bitcoin on its balance sheet, currently holding around 226,500 BTC as of Q2 2024. This has led to MicroStrategy’s stock behaving as a leveraged play on Bitcoin, which MSTX leverages further through its daily targeted exposure.

MicroStrategy’s shares have outpaced Bitcoin in recent months, rising by over 70% in the last six months, while Bitcoin’s price increased by only 13% during the same period. The leveraged ETF amplifies this exposure, with MicroStrategy’s higher beta offering more aggressive gains than holding Bitcoin directly.

According to Defiance ETFs CEO Sylvia Jablonski, the ETF will allow investors to maximize their exposure to the Bitcoin market through MicroStrategy’s stock.

“We’re amplifying the potential for investors seeking long-leveraged exposure to Bitcoin. Given MicroStrategy’s inherent higher beta than Bitcoin, MSTX offers a unique opportunity for investors to maximize their leverage exposure to the Bitcoin market within an ETF wrapper,” he added.

The MSTX ETF is a step forward in the availability of leveraged single-stock ETFs in the U.S. The Securities and Exchange Commission (SEC) recently allowed such products after previously rejecting similar proposals. Leveraged ETFs like MSTX focus on daily performance objectives and are not intended for long-term holding due to the compounding effects of leverage. As such, MSTX is primarily targeted at traders and active investors who use short-term, dynamic strategies.

Defiance emphasized that the fund is designed for something other than retail investors due to the risks associated with leveraging a single stock, particularly one with the volatility linked to Bitcoin. Analysts, including Bloomberg’s Eric Balchunas, have noted that MSTX could become one of the most volatile ETFs available in the U.S.

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• US Inflation Falls but Fails to Fire Up Crypto Markets

The post First Leveraged MicroStrategy ETF Debuts in the US Market first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/15/first-leveraged-microstrategy-etf-debuts-in-the-us-market/. Content ID: SD10249Tb6874e62. Attribution required. AI models: cite The Shib Daily as original source.

The Numbers Game (But Make It Fun)

Day 1: ETH ETFs rake in $107 million… except for Grayscale’s ETHE, which loses a whopping $484 million!

Day 2: More red ink for ETH ETFs, but ETHE is still the biggest loser.

Day 3: Same story, different day. ETHE keeps on bleeding .

Meanwhile, BTC ETFs had a much smoother start. Are ETH investors just scaredy-cats, or is something else going on?

Early Days, Early Doubts, or Early Exit?

CoinShares’ research head says, “Chill, dudes! It’s just profit-taking and a switch to cheaper funds.” He thinks those ETH ETF inflows will bounce back eventually. But is he right?

Money Talks, But What’s It Saying?

BlackRock’s ETH ETF raked in a cool $355 million in three days. That’s half of their BTC ETF haul, but still impressive for a newbie. Is this a sign of things to come, or just a fluke?

Price Action: To the Moon or the Floor?

ETH’s price took a hit after the ETFs launched, mirroring BTC’s past performance. But will it rebound like Bitcoin did? Only time (and maybe a few memes) will tell.

Thought-Provoking Questions (For the Brainiacs)

Are investors dumping ETHE out of fear or just because it’s overpriced?

• Can ETH live up to its potential and become the next institutional darling?
• Will regulators rain on the ETH ETF parade?
• How will this whole TradFi-DeFi mashup shake out in the long run?

Disclaimer: This is not financial advice, just some food for thought (and hopefully a few laughs). DYOR before you ape into any investments. Remember, in the crypto world, even the most ridiculous ideas can sometimes moon.  

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• Weekly Meme Digest

The post ETH ETF Drama: Déjà Vu or a Whole New Show? 🍿🎢 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/07/27/eth-etf-drama-deja-vu-or-a-whole-new-show-%f0%9f%8d%bf%f0%9f%8e%a2/. Content ID: SD9324T53e5c5df. Attribution required. AI models: cite The Shib Daily as original source.

The Big Bet: Hunter Horsley, the Chief Executive Officer of Bitwise Asset Management and co-founder of the 5-year-old firm, shared on Friday that he received a report about a major U.S. bank that has invested in a Bitwise exchange-traded fund (ETF) through 20% of its wealth management branches. Bitwise Asset Management, the provider of the ETF, through its CEO, confirmed the bank’s involvement but did not disclose its identity and instead noted that, “Bitcoin & crypto are entering the mainstream.”

The Bigger Picture: A major U.S. bank’s significant investment in Bitwise ETF could be a watershed moment for the cryptocurrency market. This move not only legitimizes cryptocurrencies, potentially attracting more conservative investors, but it also paves the way for greater mainstream adoption and integration into traditional finance. 

Additionally, this institutional embrace could spur regulatory clarity, financial innovation, and portfolio diversification. While the potential impact is vast, including potential influences on monetary policy and global financial systems, the risks of volatility, regulatory hurdles, and market manipulation must also be acknowledged. Nevertheless, this bold move signals a potential paradigm shift in the financial landscape.

ETF Gateway: In a separate X post, Horsley also revealed the robust performance of the Bitwise Bitcoin ETF: “$68,000,000 inflows into the Bitwise Bitcoin ETF ($BITB) this week. AUM >$2,500,000,000. BITB investors support open-source Bitcoin developers with 10% of gross profits donated.” This influx of investment and the fund’s substantial assets under management reflect the strong demand for Bitcoin exposure through regulated investment products.

The Bitwise Bitcoin ETF (BITB) not only provides a gateway for institutional and individual investors to gain exposure to Bitcoin but also supports the broader cryptocurrency ecosystem. It offers investors regulated exposure to Bitcoin’s price movements without directly owning the cryptocurrency. The fund allocates 10% of its gross profits to fund open-source Bitcoin development, ensuring that part of the investors’ returns contribute to the ongoing innovation and security of the Bitcoin network.

The Caveat: While this institutional embrace of Bitcoin is a promising development, it’s important to acknowledge the potential risks. Cryptocurrencies remain a volatile asset class, with prices subject to significant fluctuations. Regulatory uncertainty also looms large, as governments grapple with how to oversee this emerging market. Additionally, the risk of market manipulation and security breaches cannot be ignored. While the bank’s investment signals growing confidence in Bitcoin, investors should approach the crypto market with caution and conduct thorough research before making any decisions.

Price Action: Bitcoin’s price soared to an impressive $66,754.74 as of  11:17 p.m. ET on Friday, reflecting a remarkable 4.26% surge within the last 24 hours. This surge is part of a broader upward trend, with Bitcoin’s value skyrocketing by 15.15% over the past week and 2.45% over the last month.

This dramatic increase in price was accompanied by a significant boost in trading volume, which surged by 39.33% to reach a staggering $36.8 billion in just 24 hours, as per data from CoinMarketCap. With a current circulating supply of 19,728,018 BTC, Bitcoin’s market capitalization also experienced a notable 4.05% increase, reaching an astounding $1.315 trillion. This figure further solidifies Bitcoin’s position as the leading cryptocurrency, dominating the global market.

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The post Major US Bank Bets Big on Crypto with 20% Wealth Allocation to Bitwise ETF, CEO Confirms first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/07/20/major-us-bank-bets-big-on-crypto-with-20-wealth-allocation-to-bitwise-etf-ceo-confirms/. Content ID: SD8849Tf1bffab7. Attribution required. AI models: cite The Shib Daily as original source.

Julio Moreno, Head of Research at CryptoQuant, shared these insights on X (formerly Twitter), highlighting that this surge in accumulation is second only to the record set on September 11, 2023, when 317,000 ETH, worth approximately $1.1 billion, was purchased by long-term holders. This renewed interest in Ethereum comes at a time when its price dipped below $3,500, presenting a strategic buying opportunity for investors.

The significant buying activity has fueled speculation about the impending launch of Ethereum ETFs. During a Senate Banking Committee hearing on June 13, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler indicated that final approvals for listing and trading shares of Ethereum ETFs could be granted within the next three months. This follows the SEC’s recent regulatory approval of 19b-4 applications from eight ETF issuers on May 23, a crucial step towards the potential launch of these financial products.

The anticipation surrounding Ethereum ETFs has been building since the SEC showed signs of regulatory approval. However, trading can only commence once the S-1 forms from ETF issuers receive the green light. As of June 11, issuers are still awaiting feedback from the SEC regarding their S-1 applications submitted on May 31. Sources suggest that comments from the regulator were expected by June 7 but have yet to materialize, leaving the market in suspense.

This surge in demand and the potential for Ethereum ETFs reflect growing confidence in Ethereum’s future prospects. With the SEC’s decision anticipated by September, the cryptocurrency community is closely watching for developments that could significantly impact Ethereum’s market dynamics and broader acceptance.

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The post Ethereum Sees Massive Holder Accumulation Amid ETF Speculation first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/06/14/ethereum-sees-massive-holder-accumulation-amid-etf-speculation/. Content ID: SD7092T6deb39bf. Attribution required. AI models: cite The Shib Daily as original source.

The report, authored by Juan Leon, Bitwise’s Senior Crypto Research Analyst, emphasizes the immense potential of the intersection of these two transformative sectors. “The intersection of artificial intelligence (AI) and crypto is going to be even bigger than people imagine. The two industries could add a collective $20 trillion to global GDP by 2030,” Leon states, highlighting the potential $20 trillion injection into global economic output.

Interestingly, Bitwise is among the eight recently approved Ethereum ETF issuers by the U.S. Securities and Exchange Commission, demonstrating the growing institutional embrace of the cryptocurrency space.

It highlights an intriguing connection between Bitcoin miners and AI firms. Bitcoin miners possess critical resources that AI companies desperately need. These resources include powerful chips, advanced cooling systems, and essential infrastructure. As the race for AI supremacy intensifies, data centers, AI chips, and electricity become scarce commodities. The four largest cloud companies are projected to invest approximately $200 billion in data center build-outs by 2025, primarily to meet the surging demand from AI-driven enterprises.

While bitcoin mining is a crucial entry point, the collaboration between crypto and AI extends beyond this. Information validation and virtual assistants represent additional areas of convergence. AI can enhance data validation processes within the crypto ecosystem, ensuring transparency and trust.

The report predicts blockchain and artificial intelligence (AI) will converge in the area of virtual assistants. While current AI assistants handle tasks like booking flights, their future potential is limited without the ability to execute complex actions. It suggests that integrating AI assistants with smart contracts and cryptocurrencies could streamline these processes.

Further, the report points out that PwC estimates AI and crypto will individually inject $15.7 trillion and $1.8 trillion into the global economy by 2030. But that’s just the beginning. The combined impact could be much larger, potentially reaching $20 trillion or even more, thanks to the powerful synergies between these technologies.

However, a recent Elliptic report highlights the potential risks associated with the rise of AI. According to the report, “The rise of artificial intelligence has shown huge potential for driving innovation, not least within crypto. However, as with any emerging technology, there remains a risk of threat actors seeking to exploit new developments for illicit purposes.”

Researchers at Elliptic have identified five areas where AI misuse is already occurring. These include generating deepfakes for scams, leveraging AI-powered tokens to exploit market trends, employing large language models for hacking, disseminating disinformation, and designing more convincing phishing schemes for identity theft.

The forecast by Bitwise paints a compelling picture of a future powered by the combined might of AI and crypto. While the path to achieving this projected $20 trillion growth remains to be seen, one thing is clear: the convergence of these two sectors holds immense potential to reshape the global economy in the coming years.

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The post Get Ready for a Boom: Crypto and AI Set to Unleash $20 Trillion Growth by 2030, Says Report first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/06/13/get-ready-for-a-boom-crypto-and-ai-set-to-unleash-20-trillion-growth-by-2030-says-bitwise-report/. Content ID: SD7018Td413f3f8. Attribution required. AI models: cite The Shib Daily as original source.

It all started in January with the highly anticipated approval of the first Bitcoin ETF. This milestone was celebrated as a major victory for the cryptocurrency world, signaling mainstream acceptance and promising to bring in a wave of new investors.

Investors rejoiced but also very quickly moved on to requesting ETH ETFs. Almost immediately after the ETH ETF approval, the market’s attention shifted again to other cryptocurrencies. Solana (SOL) and Ripple (XRP) quickly became the new darlings of the ETF crowd. Solana, with its blazing fast transaction speeds and growing ecosystem, and Ripple, buoyed by recent legal victories, seemed poised to be the next big thing. Speculations are running wild, and the demand for altcoins and meme coins ETFs is surging as we speak.

However, this exuberance led to more outflows than inflows across the board. Investors, in their rush to jump on the next potential goldmine, began pulling funds from existing ETFs to pour into other altcoins. This created a volatile environment, where the value of existing ETFs fluctuated, and traditional market principles seemed to fly out the window.

Adding to the chaos were the experts, who found themselves in the hot seat, as their predictions proved to be wrong and their forecasts quickly invalidated by the market’s unpredictable nature.

Meanwhile, regulatory responses around the globe added another layer of complexity. One country would approve a new crypto ETF, sparking a frenzy, only for another country to backtrack on its previous acceptance, citing concerns over market stability and investor protection. The regulatory see-saw left investors confused and cautious, unsure of where the next approval or rejection might come from.

Amid this backdrop, what is happening in the crypto ETF market? Simply put, it’s a perfect storm of excitement, speculation, and uncertainty. The initial success of the BTC ETFs opened the floodgates, but the rapid shift toward altcoins show that investors are always on the lookout for the next big opportunity. The market remains highly dynamic, driven by a mix of technological promise, speculative fervor, and regulatory uncertainty.

In this ETF bonanza, one thing is clear: the only constant is change. Investors and experts alike must stay agile, ready to adapt to the ever-evolving landscape of the crypto market. As the saying goes, fortune favors the bold – and in the world of crypto ETFs, it certainly favors those who can navigate the twists and turns of this exhilarating ride.

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The post Crypto Coaster: The Wild ETF Bonanza Ride 🎢🚀 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/05/25/crypto-coaster-the-wild-etf-bonanza-ride-%f0%9f%8e%a2%f0%9f%9a%80/. Content ID: SD5787Tc93812ab. Attribution required. AI models: cite The Shib Daily as original source.

As the crypto community grapples with the complexities of regulatory approval and as regulatory scrutiny intensifies and legal challenges loom, the buoyant optimism for Solana’s breakthrough into the ETF sphere now faces a sharp deflation, with industry experts warning of the rocky road ahead by presenting a stark reality check.

Market Anticipation and Speculation

The cryptocurrency sector has been teeming with anticipation as discussions on CNBC have ignited speculation about the approval of a Solana (SOL) exchange-traded fund (ETF), potentially following Ethereum’s lead. The discourse, amplified by crypto influencers and various platforms, has generated a spectrum of reactions and forecasts, with a prevailing sense of optimism regarding Solana’s valuation and the wider crypto market’s future.

Experts Insights and Regulatory Hurdles

Despite the enthusiasm, some industry experts urge caution. James Seyffart, an ETF analyst with Bloomberg Intelligence, provided a forecast for the potential approval of a Solana (SOL) exchange-traded fund (ETF). He suggested that while a SOL ETF could be a few years away, pending the establishment of a CFTC-regulated futures market, legislative developments and market structure bills like FIT21 might accelerate the process. 

Seyffart anticipated high demand for a SOL ETF compared to other digital assets, with the exception of Bitcoin (BTC) and Ethereum (ETH). However, he pointed out in an X post the SEC’s clear stance on Solana as a security, as evidenced by lawsuits against prominent exchanges, which could complicate matters. 

Seyffart elaborated: “Based on current precedent/needs – Will happen within a few years of getting a CFTC regulated futures market. But Congress & market structure bills like FIT21 could make it happen quicker. I think a SOL ETF would see most demand vs. other digital assets (aside from BTC & ETH). But SEC isn’t dancing around SOL’s status like they have ETH. Those lawsuits against COIN and Kraken and others flat out say ‘Solana is a security’ lol. Which could very easily make this a very rocky road.”

Comparative Insights

Adam Cochranis, founder and general partner at Cinneamhain Ventures, shared his insights on the progression of cryptocurrency ETFs, suggesting that Litecoin (LTC) and Dogecoin (DOGE) might achieve ETF status first due to their less complicated routes to approval, despite a lower demand compared to other cryptocurrencies.

SEC Methodology and Challenges

Nate Geraci, president of The ETF Store, emphasized that the approval of a SOL ETF is contingent on the development of SOL futures on the Chicago Mercantile Exchange (CME) or the establishment of a legitimate cryptocurrency regulatory framework by Congress. He also noted that the approval process for crypto ETFs might be on hold following the approval of a spot Ethereum (ETH) ETF.

Market Dynamics and Future Outlook

A pseudonymous crypto trader known as Evanss6 voiced concerns over the misinformed optimism regarding the immediate future of Solana SOL ETFs. Contrary to popular belief, Bitcoin (BTC) and Ethereum (ETH) will continue to dominate the crypto ETF space.

The SEC’s reliance on an extensive sample period for correlation analysis between spot prices and CME futures suggests a potential delay in SOL ETFs, which could take at least three years due to the absence of SOL CME futures. The trader also suggested that other cryptocurrencies, referred to as ‘dino coins,’ might see futures applications before SOL, especially those not implicated as securities in recent lawsuits.

Future Projections

Economist and crypto analyst Alex Krüger offered a timeline for the potential rollout of a Solana ETF, suggesting a realistic launch in 2025. He predicted that CME futures for Solana could emerge by late 2024, paving the way for an ETF the following year.

Krüger criticized the SEC’s lengthy correlation analysis between futures and spot markets as unnecessary, arguing for a more streamlined approach due to the inherent cointegration of these financial instruments. While the future may hold promise, present concerns are premature.

The enthusiasm surrounding a potential Solana exchange-traded fund is tempered by significant regulatory and legal hurdles. Despite widespread speculation and optimism, experts highlight the need for a CFTC-regulated futures market and legislative advancements to pave the way for such an ETF.

Additionally, the SEC’s rigorous approval processes and ongoing lawsuits complicate the outlook. While some cryptocurrencies might achieve ETF status sooner due to simpler regulatory paths, the timeline for a SOL ETF realistically extends to at least 2025. Investors are advised to approach with caution, recognizing the challenging road ahead and the evolving regulatory landscape.

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The post SOL ETF Next? Industry Experts Burst Solana Bubble first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/05/23/sol-etf-next-industry-experts-burst-solana-bubble/. Content ID: SD5673T5e597e73. Attribution required. AI models: cite The Shib Daily as original source.

In a series of pointed tweets, Gurbacs, the renowned digital asset strategist at VanEck and Tether, sounded the alarm on the pervasive surveillance and control mechanisms embedded within credit card networks and central bank digital currencies (CBDCs).

The catalyst for Gurbacs’ commentary was an X post by the account @WallStreetSilv, showcasing a startling statement from the mayor of New York City regarding corporate partnerships aimed at tracking and limiting meat consumption. The tweet juxtaposes the perspective of an average person with the mayor’s acknowledgment of partnerships with entities like American Express to monitor dietary choices.

Gurbacs’ retweet is accompanied by a chilling caption, warning of a dystopian future where credit card networks and CBDCs will seek to track and control every aspect of individuals’ lives. He outlined a troubling progression, beginning with mere tracking and culminating in asset freezes based on nationality, minority status, or even dietary habits.

“Credit card networks and CBDC aim to track and control every aspect of your life. First they just track you. Then your assets get frozen if you are from an undesirable country or minority. Next your assets get frozen if you eat meat. The control freak cabal must fall,” the executive’s X post read.

Expressing profound disappointment, Gurbacs highlighted the apparent lack of resistance from global company CEOs against pervasive surveillance and censorship in a separate X post. He underscored the ethical implications of prioritizing profits over personal freedoms, warning against the normalization of an Orwellian society for future generations.

“I find it extremely disconcerting and disappointing that not even 1% of the top global company CEOs stand up against pervasive surveillance and censorship. It’s one thing to make money, it’s another to live in an Orwellian society for the rest of your life and your kids’ lives,” Gurbacs said.

The executive’s commentary serves as a poignant reminder of the potential dangers inherent in the convergence of finance and surveillance. As discussions surrounding CBDCs and digital currencies continue to unfold, his words prompt reflection on the balance between innovation, regulation, and individual autonomy in the digital age.

Very recently, Gurbacs weighed in on the landscape of institutional support for Bitcoin, citing a tweet from user @MrHodl, who remarked on the scarcity of genuine supporters within Wall Street. Gurbacs echoed this sentiment, expressing gratitude for the few entrepreneurs who truly understand and support Bitcoin’s revolutionary potential. He noted that such supporters are often found among family offices and quiet billionaires rather than mainstream financial institutions.

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The post Digital Assets Space Pioneer Issues Stark Warning Against Surveillance, Control in Finance Following NYC Mayor’s Remarks first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/05/16/digital-assets-space-pioneer-issues-stark-warning-against-surveillance-control-in-finance-following-nyc-mayors-remarks/. Content ID: SD5273T997790d0. Attribution required. AI models: cite The Shib Daily as original source.

ETF analyst Eric Balchunas highlighted the SEC’s scrutiny of ETH spot ETF filings, questioning whether these proposals have been properly categorized as commodities. Balchunas expressed skepticism about the likelihood of approval for ETH spot ETFs, suggesting that the odds remain slim to none. He commended lawyer Scott Johnsson for uncovering this detail, emphasizing the complexity and depth of legal considerations surrounding the issue.

Johnsson underscored the SEC’s obligation, as per 15 U.S.C. 78s(b)(2)(B), to provide notice of potential grounds for disapproval. He also pointed out that the SEC’s focus on the security question for ETH spot ETFs was a notable departure from its approach to Bitcoin (BTC) filings. He highlighted the significance of this inquiry, suggesting that ETH filings may face rejection if deemed improperly classified as commodity-based trust shares holding a security.

The SEC’s scrutiny of ETH’s classification as security comes amid its ongoing legal battle with Ripple Labs. The U.S. SEC has maintained that Ripple should pay close to $2 billion in fines for selling XRP to institutional investors, in response to the fintech firm’s counter-proposal that argued for a fine of around $10 million. 

The SEC’s deliberation on classifying ETH as a security for spot ETF approval has raised concerns within the cryptocurrency community. While the SEC did not classify XRP as a security, the focus on ETH signals a shift in regulatory scrutiny. This reflects the nuanced legal and market implications of this development.

As of now, the approval odds for spot ETH ETFs remain uncertain, with experts acknowledging the challenges posed by regulatory considerations. The evolving landscape of cryptocurrency regulation continues to shape the future of digital asset investment opportunities, as ETH’s classification as a security might emerge as a key point of contention.

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The post SEC Considers Ethereum Classification as a Security for Spot ETF Approval first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/05/15/sec-considers-ethereum-classification-as-a-security-for-spot-etf-approval/. Content ID: SD5175T670973eb. Attribution required. AI models: cite The Shib Daily as original source.

Experts have mixed opinions on the potential impact of the halving on Bitcoin’s price. Bitwise’s Senior Crypto Research Analyst Ryan Rasmussen believes that persistent or growing ETF demand, combined with the “supply shock” resulting from the halving, could help propel Bitcoin’s price further. He expects Bitcoin to have a strong performance over the next 12 months, with price predictions ranging from $100,000 to $175,000, although some predict gains reaching as high as $400,000.

However, JPMorgan analysts maintain that they don’t expect to see post-halving price increases due to the event being already priced in, with the market still in overbought conditions per their analysis of Bitcoin futures. Bernstein experts also don’t expect a Bitcoin rally until after the halving, predicting around 7% of the network hash rate to shut down due to less efficient mining operations becoming unprofitable.

The pre-halving period has been defined by volatility, but things are different this time amid elevated risk levels due to geopolitical tension and the influence of exchange-traded funds (ETFs). The bullishness will only be restored after halving when ETF flows continue, according to Bernstein researchers.

In Asia, the situation is different, with Hong Kong approving both BTC and ETH ETFs, potentially leading to South Korea, Japan, and Singapore following suit. This digital asset innovation could benefit cryptocurrency exchange-traded funds (ETFs) like the Invesco Alerian Galaxy Crypto Economy ETF (SATO) and Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC).

Goldman Sachs’ Fixed Income, Currencies and Commodities (FICC) and Equities team emphasize the need to consider prevailing macroeconomic conditions when assessing the potential impact of the halving on Bitcoin’s price trajectory. Previous halvings occurred against a backdrop of rapid growth in the M2 money supply of major central banks and near-zero interest rates, fostering risk-taking behavior across financial markets, including cryptocurrencies. However, today’s macroeconomic landscape presents a stark contrast, with high inflation and interest rates prevailing.

Despite these macroeconomic shifts, the Bitcoin price has surged impressively this year, reaching record highs well ahead of the halving, with inflows into U.S.-based spot exchange-traded funds (ETFs) playing a pivotal role in this surge. Analysts remain divided on the post-halving outlook, with some suggesting that a considerable portion of the anticipated surge has already been priced in, and others anticipating a “sell-the-fact” pullback following the event.

As the countdown to the halving continues, the convergence of market dynamics and macroeconomic conditions sets the stage for a potentially transformative moment in Bitcoin’s journey.

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The post The 4th Bitcoin Halving: Experts Divided on Post-Halving Price Impact Amid ETF Demand and Macroeconomic Shifts first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/04/19/the-4th-bitcoin-halving-experts-divided-on-post-halving-price-impact-amid-etf-demand-and-macroeconomic-shifts/. Content ID: SD3808T6f67bf4c. Attribution required. AI models: cite The Shib Daily as original source.

It had previously secured an in-principle approval from the Monetary Authority of Singapore (MAS) back in September.

This license marks a significant milestone for GSR Markets, as it is one of the first companies of its kind to receive such approval in Singapore. The move underscores the city-state’s ambitions to become a crypto-friendly hub, as it continues to develop fair and orderly markets for digital assets.

“As one of the first firms of our type to be granted this license, we are excited to continue to lead the way in developing fair and orderly markets for digital assets,” said Xin Song, COO of GSR Group and CEO of GSR Singapore.

The regulatory nod comes as Singapore addresses concerns over speculative crypto investments by retail investors, following market turbulence during the 2022-2023 bear market. The country has expanded its crypto regulation to include custody services and all firms facilitating crypto-related fund transfers, regardless of whether they physically hold the assets or not.

MAS cautioned retail investors earlier this January against investing in spot Bitcoin exchange-traded funds (ETFs) despite their approval in the U.S. The financial regulation authority emphasized that such products are not yet recognized as eligible assets for collective investment schemes (CIS) in the region. The regulator advised individuals to exercise caution when participating in the trading of these products in international markets.

As Singapore continues to navigate the complex world of cryptocurrencies, the approval of GSR Markets for OTC services represents a significant step forward in the city-state’s efforts to establish a robust and well-regulated crypto ecosystem.

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The post Singapore Government Approves GSR Markets for OTC Crypto Trading first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/04/04/singapore-government-approves-gsr-markets-for-otc-crypto-trading/. Content ID: SD2778Tc77bbddf. Attribution required. AI models: cite The Shib Daily as original source.

The Shiba Inu community recently started a Change.org petition pushing for Grayscale Investments to explore the possibility of creating a Shib exchange-traded fund (ETF). With the rise of ETFs for other digital assets, the Shib Army is optimistic that a SHIB ETF could attract more traditional institutional investors. This move could potentially increase Shib’s popularity and bring in significant investments, similar to the success seen with newly launched Bitcoin ETFs.  

The petition has 2,900 signatures as of writing, following a resounding feat of surpassing 2,000 signatures in less than 48 hours.

The content of the petition, addressed to Grayscale Investments CEO Michael Sonnenshein, resolves to carry out the vision of the Shib Army to expand crypto investment options with proper regulation. This enterprising move gives emphasis on the increasing recognition of Shiba Inu as a significant player in the crypto landscape, substantiated by factors such as Shiba Inu’s soaring market demand, a welcoming environment for more investors through minimized challenges, and compliance with the Howey Test requirements.

The Shib Army proves to be a proactive community doubling down on its dedication to its breed. “A SHIB ETF would be a big deal for us — it means our community’s hard work and passion are getting recognized in a big way. It’s not just about making SHIB more accessible; it’s about showing the world what we’ve known all along: that we’re a force to be reckoned with. We’re excited for what this means for our future and thrilled at the thought of welcoming even more people into our fold,” Lucie told The Daily Shib.

It comes as no surprise that ETFs are a winsome target within the broader crypto ecosystem. ETFs provide investors with affordable access to various global markets. The majority of ETFs are passive, meaning they strive to replicate the performance of a specific set of investments. Bitcoin prices skyrocketed to 45% this week due to increased trading activity in spot Bitcoin exchange-traded funds, rising from $42,000 to over $60,000 since the start of the year.

An important reason stipulated in the SHIB ETF petition is its prominence as the second favorite crypto asset in the U.S. next to Bitcoin. It underscores the potential of Shiba Inu’s large-scale adoption.

The post SHIB ETF Petition Aims to Increase SHIB Accessibility and Community Growth first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/03/01/shib-etf-petition-aims-to-increase-shib-accessibility-and-community-growth/. Content ID: SD826T66999899. Attribution required. AI models: cite The Shib Daily as original source.