Amid the official decision of the U.S. Securities and Exchange Commission (SEC) to approve the first spot-regulated Bitcoin ETFs, Anthony Scaramucci, founder of SkyBridge Capital, predicts a significant rise in the value of the cryptocurrency.

Speaking to CNBC, Scaramucci highlighted this breakthrough as crucial for Bitcoin as a digital asset, glimpsing an expansive picture for digital property in general.

Scaramucci expressed confidence that the value of Bitcoin could reach its all-time highs by the end of this year, although he admitted to having been wrong on previous occasions. He also compared the current situation of Bitcoin to the approval of gold ETFs in 2004, calling the cryptocurrency “digital gold”.

Looking at the market capitalization of gold, estimated at $13 trillion, Scaramucci suggested that Bitcoin could aspire to represent 50% or 60% of that market capitalization, implying a 10-fold increase in price over the next decade.

Currently, the value of Bitcoin is around $43,000.

K. Tovar

Source: LaVoz

(Reference image source: Kanchanara, Unsplash)

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La entrada Bitcoin could surpass $100,000 quotation apareció primero en Bitfinance.

Bitcoin reached the $47,000 mark for the first time since April 2022, following a series of form submissions modified by BlackRock Inc., Ark and other potential issuers of publicly traded funds (ETFs). This move, highlighted by analysts, represents a decisive effort to launch cryptocurrency investment products.

According to Bloomberg reports, regulators in the United States are in favor of approving, for the first time, ETFs that invest directly in crypto assets. This regulatory change has been a catalyst for the recent increase in the value of Bitcoin, which registered an increase of 6.2%, reaching $47,007.

This rise is the most significant since November 15 and marks a return to levels not seen since before the cryptocurrency crisis in the second half of 2022. Recall that Bitcoin had reached an all-time high of almost $69,000 in November 2021.

Bartosz Lipinski, CEO of Cube.Exchange, commented that the volatility of the markets last week has given way to a more stable trend, while investors await decisions on Bitcoin ETF applications.

In the cryptocurrency field, companies such as Fidelity, Invesco, Galaxy Digital and WisdomTree also filed amended S-1 applications with the SEC. The regulator has until January 10 to decide on these requests, generating expectations in the market about a possible joint announcement.

SEC Chairman Gary Gensler issued warnings about the risks inherent in investing in cryptocurrencies in a recent post on a social media platform.

The cryptocurrency market overall experienced a rebound, with Ethereum growing by 3.8% and others such as Cardano, Solana’s SOL and Polkadot recording increases between 7% and 9%. Bitcoin currently represents just over half of the total cryptocurrency market capitalization, valued at $1.7 trillion.

Cryptocurrency-related stocks also showed positive behavior. Coinbase Global, the largest cryptocurrency exchange in the US, increased by 2.3%, while Bitcoin mining companies, Marathon Digital and Riot Platforms, experienced rises of more than 7%. On the other hand, MicroStrategy, a software company that has been a benchmark for bitcoin investors, suffered a drop of 1.2%.

K. Tovar

Source: WSJ

(Reference: Traxer, Unsplash)

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La entrada Bitcoin surpassed the $47,000 barrier apareció primero en Bitfinance.

For a brief moment, the world’s largest cryptocurrency, bitcoin, passed the $ 60,000 mark for the first time since April 2021.

This increase is most likely due to the possibility that there is a bitcoin futures etf starting its operations soon within the United States.

This information is obtained from a close source that states that the Securities Market Commission would be about to make the final approval for this option to start operating from next week.

Prices for the digital asset have been in a slow grind to the upside since the beginning of this month. Before the upward price action began, prices had hovered around $ 40,000 from September 20 to October 1st.

Rumors about the impending approval sent the price up about $ 7,000 in the past seven days, equivalent to a 13 % increase. The biggest rise has occurred in the last two days, in which the price of bitcoin has gone from about 54,000 to the current 60,000.

K. Tovar

Source: Cointelegraph

La entrada Bitcoin reaches $ 60,000 again apareció primero en Bitfinance.

Grayscale, the world’s largest crypto fund manager, is preparing to convert the Bitcoin Trust into an ETF as soon as possible. Meanwhile, the United States Securities and Exchange Commission (SEC) continues to postpone the approvals of the applications of the different financiers for their Bitcoin funds (ETF) traded on the stock market.

Michael Sonnenshein, CEO of the financial company, pointed out that their biggest concern is when the SEC will approve the proposal. Like other market benchmarks, Sonnenshein is confident that the arrival of these financial instruments is imminent, and said that the growing adoption of large long-term investors will be helpful.

At the moment, the most similar to an ETF are the BTC funds, being the Grayscale Bitcoin Trust, the most important in the market. The executives of the firm have already assured that it will become an ETF as soon as it is feasible.

Grayscale recently partnered with BYN Mellon bank to obtain banking services on its Bitcoin Trust and eventual ETF. The CEO of the financial company considers that with the alliance they are “100 % committed to converting the GBTC into an ETF when the regulatory approvals are ready.”

Other financial companies like VanEck, SkyBridge Capital or Goldman Sachs,  as well as Grayscale, have also presented the corresponding documentation for their ETFs and are waiting for a favorable resolution from the US body.

M. Rodriguez

Source: criptomonedaseico

La entrada Grayscale will convert Bitcoin Trust into ETF apareció primero en Bitfinance.

This week, Brazil became the first country in Latin America to launch its own Exchange-Trade Funds (ETF) through the Brazilian Securities and Exchange Commission (CVM).

The exchange-traded fund was called “Hashdex Nasdaq Crypto Index ETF”, which has as its main objective to increase the participation of institutional investors in cryptocurrencies.

This initiative was carried out thanks to Hashdex, a company dedicated to the management of funds in digital assets, in the hands of Nasdaq. This includes some cryptocurrencies such as ethereum, litecoin, stellar, chainlink, bitcoin cash, among others.

As reported by a local media, the minimum investment amount in the listed fund will be 250 million reais, equivalent to about 45 million dollars, and the offer will be coordinated by BTG Pactual, Itaú and Genial.

The Hashdex bitcoin ETF will be listed on the world’s second largest stock exchange offering access to bitcoin, called B3, with the ticker HASH11.

K. Tovar

Source: Territoriobitcoin

La entrada Brazil becomes first Latin American country to launch bitcoin fund apareció primero en Bitfinance.