USDC issuer Circle files for IPO

BofA still expects March rate cut despite latest inflation data

January 11, 2024 11:26 AM EST

The December Consumer Price Index (CPI) report came in stronger than expected on Thursday, with inflation coming in above economists' expectations, prompting some doubts regarding the Federal Reserve's potential rate cuts.

Ahead of the release, analysts at UBS analysts said in a note that they believe inflation will... More

Here's everything you need to know about Bitcoin ETFs: Listing, fees and more

January 11, 2024 8:35 AM EST

(Updated - January 11, 2024 8:44 AM EST)

The SEC's approval of 11 proposed spot Bitcoin ETFs on January 10 marks a significant milestone, affirming the growing acceptance and legitimacy of Bitcoin in traditional financial markets.

This development follows BlackRock's filing of an S-1 with the SEC in June 2023, signaling the initiation of the approval process.

We have been adamant that a spot Bitcoin ETF approval would be the single most important catalyst for Bitcoin in the near term, Cantor Fitzgerald analyst Josh Siegler.

In our view, an approved spot ETF boosts Bitcoin's accessibility, credibility, and network effects. We view... More

Bitcoin ticks higher after SEC approves first ETFs tracking cryptocurrency's price

January 11, 2024 6:51 AM EST

Investing.com -- Bitcoin was trading higher on Thursday after the top U.S. securities regulator approved the first exchange-traded funds tracking the spot price of the cryptocurrency.

By 06:44 ET (11:44 GMT), Bitcoin had risen 3.0% to $46,929.1.

In a decision that is anticipated to have sweeping implications for the wider crypto industry, the U.S. Securities and... More

ETF approval could send Bitcoin to $60,000 near term - deVere's Green

January 11, 2024 6:37 AM EST

Nigel Green, a long-term cryptocurrency advocate and CEO of the deVere Group, sees the landmark SEC approval of 11 spot Bitcoin ETFs on Wednesday sending the cryptocurrency higher - perhaps to $60,000 as soon as the end of March 2024.

"This approval by the financial regulator of the worlds largest economy is a landmark moment for Bitcoin and the wider crypto market and boosts prices in the long-term, even if... More

US bitcoin ETFs see $4.6B in volume in first day of trading

January 11, 2024 5:50 AM EST

By Hannah Lang, Suzanne McGee and Manya Saini

(Reuters) - U.S.-listed bitcoin exchange-traded funds (ETFs) saw $4.6 billion worth of shares trade hands as of Thursday afternoon, according to LSEG data, as investors jumped into the landmark products approved by the U.S. securities regulator on Wednesday.

The products mark a watershed moment for the cryptocurrency industry that will test whether digital assets - still viewed by many professionals as risky - can gain broader acceptance as an investment.

Eleven spot bitcoin ETFs - including BlackRock's iShares Bitcoin Trust, Grayscale Bitcoin Trust, and ARK 21Shares... More

Ether jumps, bitcoin holds gains after ETF regulatory approval

January 10, 2024 11:08 PM EST

By Elizabeth Howcroft and Alun John

SINGAPORE/LONDON (Reuters) -Bitcoin held near 21-month highs on Thursday after U.S. regulators approved a spot bitcoin exchange traded fund (ETF), while the second-biggest cryptocurrency ether gained on hopes that ETFs tracking it could be the next to win approval.

The Securities and Exchange Commission (SEC) said on Wednesday it approved 11 applications for spot bitcoin ETFs including from BlackRock, Ark Investments/21Shares, Fidelity, Invesco and VanEck.

Most of the ETFs are expected to begin trading on Thursday, and the iShares bitcoin ETF drew strong demand in premarket trading, with... More

US SEC approves bitcoin ETFs in watershed for crypto market

January 10, 2024 6:03 AM EST

By Hannah Lang and Suzanne McGee

WASHINGTON/NEW YORK (Reuters) -The U.S. securities regulator on Wednesday approved the first U.S.-listed exchange traded funds (ETFs) to track bitcoin, in a watershed for the world's largest cryptocurrency and the broader crypto industry.

The Securities and Exchange Commission said it approved 11 applications, including from BlackRock, Ark Investments/21Shares, Fidelity, Invesco and VanEck, despite warnings from some officials and investor advocates that the products carried risks.

Most of the products are expected to begin trading Thursday, issuers said, kicking off a fierce competition for market share.

... More

X confirms SEC account was compromised in bitcoin ETF debacle

January 10, 2024 5:27 AM EST

Investing.com-- Social media platform X (formerly Twitter) said on Wednesday that the Securities and Exchange Commissions account was compromised when it made a fake post about the regulator approving a spot bitcoin exchange-traded fund.

The social media platform said in a post that a preliminary investigation showed the account was compromised by a third party gaining access to a phone number associated with the SEC, and that the account did not have two-factor authentication enabled at the time of the breach.

The announcement comes just a few hours after the SECs... More

Gensler Says SEC Twitter Account Was Compromised, Bitcoin ETFs Not Approved

January 9, 2024 4:24 PM EST

(Updated - January 9, 2024 4:38 PM EST)

The SEC has not approved Bitcoin ETFs, as reported earlier on the SEC's official X account. SEC Chairman Gary Gensler said the account was "compromised."

"The@SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not... More