Crypto

The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing

Published

6 months ago

June 1, 2024

The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing

VanEck CEO Jan van Eck sees a major sentiment shift underway in the cryptocurrency market linked to the U.S. Securities and Exchange Commission’s approval of a rule change allowing for Ethereum exchange-traded funds.

“This is really one of the most amazing things that I’ve seen in my career with respect to securities regulation,” van Eck told CNBC’s “ETF Edge” this week.

VanEck was the first to apply to the SEC for permission to list its proposed Ethereum ETF. With that first hurdle cleared, VanEck can begin the process of bringing the product to market, though the exact timeline is unclear.

“There was a real risk that the SEC was going to lose any kind of jurisdiction over digital assets. So the first reaction was to get the ETF, Ethereum ETF approval green lighted,” he said. “But I think there’s a bigger narrative going on as well.”

To van Eck, the buzz around Ethereum this May means clearer regulation on the horizon and an increased investor interest in crypto. In a statement on its website, his company said that “the evidence clearly shows that ETH is a decentralized commodity, not a security.”

Van Eck said the Financial Innovation and Technology for the 21st Century Act, or FIT21, passing in the House on May 8 was another major step toward regulatory clarity for cryptocurrencies, even though he is doubtful it will make it to the Senate before the election.

Ether spiked on the SEC’s approval of applications to list Ethereum ETFs on May 23, but is virtually flat since then.

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Crypto

Dogecoin Up 3%, Shiba Inu Up 4%: What Is Going On?

Published

2 hours ago

November 22, 2024

Press Room

Dogecoin Up 3%, Shiba Inu Up 4%: What Is Going On?

Dogecoin DOGE/USD and Shiba Inu SHIB/USD are trading around 3% higher in a single day boosted by the optimism in the cryptocurrency market.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Dogecoin	$0.3923	$57.6 Billion	+2.8%	+5.3%
Shiba Inu	$0.00002496	$14.7 Billion	+4.2%	+3.1%

Trader Notes: Analysts see bullish potential for the top two meme coins.

Crypto chart analyst Ali Martinez predicts a potential rally for Shiba Inu, suggesting SHIB could hit $0.00049 if it mirrors DOGE’s pattern.

Trader Javon Marks highlights SHIB’s daily chart with a possible bull pattern confirmation. A breakout target of $0.000081—216% above current levels—could see SHIB surge more than 200%.

For Dogecoin, Altcoin Sherpa notes the recent correction as not bearish, seeing opportunities for buyers with another leg up expected soon.

Crypto Amsterdam observes DOGE hovering in a mid-range phase, suggesting $1 could be on the horizon.

Meanwhile, trader Kevin forecasts a DOGE breakout by Saturday.

Statistics: IntoTheBlock Data shows:

Large transaction volume increasing for DOGE (+41.1%) and SHIB (+44.9%).
Daily active addresses rising by 34.9% for DOGE and 10.7% for SHIB.
SHIB transactions above $100,000 up from 332 to 399 in one day.

Shibarium Activity: Daily transactions climbed from 4.66 million on Nov. 20 to 4.75 million on Nov. 21.

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Image: Shutterstock

Market News and Data brought to you by Benzinga APIs

Crypto

Bitcoin nears $100,000 as investors bet on crypto-friendly Trump policies

Published

12 hours ago

November 21, 2024

Press Room

Bitcoin nears 0,000 as investors bet on crypto-friendly Trump policies

World’s popular digital currency rises as high as $99,073 on expectations Trump will ease legal and regulatory hurdles.

Bitcoin is nearing the $100,000 mark as crypto enthusiasts bet that United States President-elect Donald Trump will usher in a more welcoming regulatory environment for digital assets.

The world’s most popular digital currency rose as high as $99,073 on Thursday, extending its surge since Trump’s re-election on November 5.

The commodity has risen more than 60 percent since election day as investors anticipate Trump’s incoming administration to ease regulatory and legal hurdles to its use.

Trump, who called the asset a “scam” during his first term, accepted campaign donations in cryptocurrency, and has pledged to make the US “the crypto capital of the planet” and accumulate a national bitcoin reserve.

Trump and his three sons in September also announced the launch of their own crypto business, World Liberty Financial, which investors have taken as a promising sign of the president-elect’s belief in the sector.

In another bullish signal for the sector on Thursday, United States Securities and Exchange Commission (SEC) chair, Gary Gensler, who was widely disliked among crypto investors for his aggressive enforcement actions targeting the sector, confirmed that he would step down in January.

Trump had pledged to fire Gensler on “day one” of his administration, though the president does not have the authority to remove the SEC chair before the end of his or her term.

While viewed by supporters as a ticket to big returns and financial freedom, Bitcoin and other cryptocurrencies are known for their volatility and have faced government crackdowns in several parts of the world.

After climbing to a record high of $69,000 in late 2021, Bitcoin plunged to less than $16,000 over the following year.

The commodity burst past its previous peak in March after gaining more than 300 percent since November 2022.

Crypto

Shemaroo Entertainment and PWR Chain Announce Strategic Partnership to Revolutionize India’s Digital Entertainment through Blockchain Innovation – Press release Bitcoin News

Published

20 hours ago

November 21, 2024

Press Room

Shemaroo Entertainment and PWR Chain Announce Strategic Partnership to Revolutionize India’s Digital Entertainment through Blockchain Innovation – Press release Bitcoin News