Most people think a bitcoin ETF will get approved, and that it's not a matter or if, but when. In the meantime, try to ignore the noise.
I originally planned to dive deeper into the Dubai crypto ecosystem, but upon my return, the market has experienced a remarkable and unexpected surge. As a result, our focus today will be on the comeback of the crypto market.It all began when an intern from CoinTelegraph mistakenly tweeted from the company's official account that regulators had approved BlackRock's spot bitcoin fund. Even after the news was proven false, the bullish momentum continued.
It's evident that a bitcoin ETF will have a transformative impact on the industry. To understand its potential, we need only look at the influence of the first gold-backed ETF and how an exchange-traded fund, more easily offered by financial advisors to their clients, can attract new capital.However, I can't shake the feeling that the market is attaching excessive significance to these signals.
That's right. My view is: no matter what happens the SEC needs to order an approval letter. This move essentially reaffirms what we already understood: BlackRock believes their approval is imminent and they are preparing accordingly. The premature announcement looks like somebody jumped the gun on something. There is no immediate requirement for trading once a crypto asset is listed on the DTCC website.
Most people think a bitcoin ETF will get approved, eventually, and that it's not a matter or if, but when. In the meantime, try to ignore the noise. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
State of Crypto 2023: Bitcoin Skyrockets on ETF Optimism; CFTC Commissioner Discusses Crypto RegulationCoinDesk TV is live from Washington, D.C. at State of Crypto 2023, as the world’s largest cryptocurrency has gained 12% over the past 24 hours. Special guests include CFTC Commissioner Summer K. Mersinger, MobileCoin head of compliance David Ackerman, Lightspark co-founder Jai Massari and Cboe Digital Chief Legal Officer Katherine Kirkpatrick.
Read more »
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets turn bullish on ETF approval hopesBitcoin (BTC) price has kick-started a massive rally in the third week of October, dragging Ethereum (ETH), Ripple (XRP) and other altcoins to follow
Read more »
Bitcoin jumps as high as $35,000 amid rally fueled by spot ETF optimism: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry.
Read more »
State of Crypto 2023: Spot Bitcoin ETF Excitement; Circle Exec on the Future of StablecoinsCoinDesk TV is live from Washington, D.C. at State of Crypto 2023, as House Republicans pick Rep. Tom Emmer as their third speaker nominee. Circle Chief Strategy Officer and Head of Global Policy, Dante Disparte, discusses the state of stablecoin regulation.
Read more »
Meet Tom Emmer, a powerful crypto advocate in a crypto-wary CongressIn recent years, Rep. Tom Emmer has increasingly promoted crypto interests — championing its companies, pushing industry-friendly proposals and chastising critics who in his view stand in the way of innovation.
Read more »
AI Crypto Openfabric AI (OFN) Debuts on KuCoin Crypto Exchange: DetailsKuCoin, a top-tier cryptocurrency exchange ecosystem, announces the listing of Openfabric AI (OFN), a new-gen cryptocurrency for AI-focused use-cases
Read more »