In a landmark development for the cryptocurrency industry, the US Securities and Exchange Commission (SEC) has greenlit the establishment of Bitcoin exchange-traded funds (ETFs) by investment firms, signalling a potential revival for the world’s largest cryptocurrency token by market capitalization.
This decision allows 11 investment firms, including BlackRock, Fidelity, and Franklin Templeton to list Bitcoin-based ETFs on major US exchanges, including Nasdaq and the New York Stock Exchange, as early as Thursday.
This move is expected to breathe new life into Bitcoin and the wider crypto industry, which has been reeling from declining token prices, failed projects, and the collapse of exchanges since its peak in November 2021.
Following its all-time high of nearly $69,000 in November 2021, Bitcoin experienced a series of downturns, dropping to around $16,000 within a year. Unlike popular expectations though, Bitcoin prices did not surge upon the announcement. Eight hours since the SEC announcement, Bitcoin traded at around $46,300, down $1,000 down from its recent high.
Bu hikaye Mint Mumbai dergisinin January 12, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Mint Mumbai dergisinin January 12, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Small loans can spell big trouble for Indian banks
Watch out for signs of stress in India's micro-finance sector. Bad loans, even if small, extract a cost by way of reduced profits as well as higher interest charges on credit across the board
India should redesign its public safety signs to save lives
Mind studies suggest that the use of photographs depicting fear could trigger safe behaviour
Burberry is looking like a fine acquisition target this winter
This brand known for its chequered story can surely perform better
The Washington Consensus has collapsed and it won't be missed
The combination of free-market capitalism and electoral democracy that it promoted has failed to serve everyone equitably
India's statistics ministry has a new sense of purpose
The flurry of activity to get India's statistics right is laudable but we await regulatory design clarity
The rupee could suffer collateral damage if a currency war ensues
The US election is a game-changer for foreign-exchange markets that will test the rupee and RBI
PASSIVE INCOME STRATEGIES FOR MSMEs: SECURE GROWTH, STABILITY IN UNCERTAIN TIMES
I Forging diverse passive income streams takes time, but steady approach builds a strong base
Securing financial future of a child with special needs: A parent's guide
If you have a special needs child, especially with communication disability, how can you best secure his or her financial future?
A simple guide for NRIs to invest in Indian MFs online
Unlock a wide range of investment options from anywhere with just a few simple clicks
HOW FOUR INDIAN STATES ARE WOOING FOXCONN
The Taiwanese manufacturing powerhouse has already invested $10 billion. Now, it wants to expand
