On July 23, 2024, the U.S. Securities and Exchange Commission (SEC) approved nine Ethereum exchange-traded funds (ETFs), marking a significant milestone in the cryptocurrency market. These ETFs, which track the price of ether, the native cryptocurrency of the Ethereum blockchain, saw substantial interest from investors on their first day of trading.
The launch was met with strong inflows, totaling approximately $107 million. BlackRock’s iShares Ethereum Trust (ETHA) topped the list with $273 million in investments, while the Bitwise Ethereum ETF (ETHW) came in second with $204 million. The Fidelity Ethereum Fund (FETH) also saw significant interest, securing $71 million in assets.
This launch comes after the successful introduction of Bitcoin ETFs earlier in the year, which set a precedent for cryptocurrency-based ETFs. The approval of Ethereum ETFs is expected to make ether more accessible to traditional investors, as these funds can be bought and sold through conventional brokerage accounts.
The trading volume for these new ETFs reached nearly $1.1 billion on the first day, indicating robust market interest. Despite the strong start, the Grayscale Ethereum Trust (ETHE) experienced outflows of $484 million, highlighting a shift in investor preference towards the newly launched ETFs.
The introduction of Ethereum ETFs is seen as a pivotal moment for the cryptocurrency market, potentially driving further adoption and investment in digital assets. Analysts predict that these ETFs could attract up to $10 billion in inflows over the coming months, potentially pushing the price of ether to new highs by the end of the year.
This development underscores the growing acceptance of cryptocurrencies in mainstream finance and the increasing demand for diversified investment options in the digital asset space.
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BITCOIN (BTC) WILL REACH 0K BY 2021, MARK MY WORDS SAYS ANALYST! KRAKEN LAUNCHING 1ST CRYPTO BANK
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Crypto analyst Elja Boom, the CEO of Ajoobz tweeted on Crypto Twitter to his 66.3K followers:
“Bitcoin will reach $100,000 by 2021. Mark my words.”
Lark Davis, another cryptocurrency influencer who is very bullish on BTC recently tweeted to his 57.7K followers:
“Quick reminder that the price of Bitcoin went from $11,000 to $20,000 in 14 days back in 2017. This market is a powder keg!”
Lark received the following skeptical response to his bullish tweet, “Yes but retail was the main driver, there is no surge in retail interest right now, see google trends.”
The Crypto Lark then replied:
“Yes, true, but also companies were not buying $175 million worth of BTC at a time which is the equivalent of 350,000 retail investors buying 500 bucks worth of bitcoin each.”
He’s referring to Microstrategy’s recent massive Bitcoin acquisition:
“On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.”
In other trending Bitcoin News Today:
Mad Money’s Jim Cramer ‘Fixated’ on Buying Bitcoin, Fears Massive Inflation
Jim Cramer, the Mad Money host and The Street co-founder, said he is “fixated” on needing to own bitcoin because he fears a “massive amount of inflation.”
While he owns “so much gold,” he is adamant about leaving a bitcoin inheritance to his children.
Cramer calls himself a gold bug because he has “so much gold,” he revealed.
He is concerned about hedging against inflation and leaving the right assets to his kids.
The former hedge fund manager explained that to hedge against inflation, he currently goes to his “inflation handbook,” and “what it says is buy gold, buy masterpieces and buy mansions.
Those are the three things.” He emphasized that “what we didn’t have in that menu was crypto and I think that you have to have [it].”
He further opined:
“I feel very strongly that I have missed crypto.”
Pomp clarified to Cramer that it is important to distinguish between bitcoin and cryptocurrencies.
“When you talk to your kids about it, you got to make sure it’s bitcoin not just crypto in general because bitcoin specifically has the inflation hedge – things that we’re talking about here.”
Cramer believes: My kids, when they get my inheritance, won’t feel comfortable with gold and will feel comfortable with crypto.
“I just need something that my kids will understand … and they will never understand gold and the reason why they’ll never understand gold is they think gold’s dangerous. It’s dangerous because it can be stolen. It’s dangerous because they don’t want to take it out of the bank,” Cramer shared.
As for cryptocurrency, the Mad Money host is also concerned about the security side, such as getting hacked.
However, Pomp explained several ways to keep his bitcoin more secure.
In other trending BTC News today:
Kraken is launching a crypto bank in Wyoming, paving the way for possible stock offerings
Cryptocurrency exchange Kraken is launching a bank under a new regulatory framework in Wyoming, a move that will expand its product suite, the firm said in an announcement Wednesday.
Headquartered in Wyoming, Kraken Financial will be regulated by the Wyoming Division of Banking under a so-called Special Purpose Depository Institution.
The new structure was purpose-built for cryptocurrency companies and will allow Kraken to offer certain banking functions to clients and effectively serve as the exchange operator’s primary banking relationship.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.
— Michael Saylor (@michael_saylor) September 15, 2020
https://news.bitcoin.com/mad-money-jim-cramer-bitcoin-inflation/
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BITCOIN BREAKOUT ON JULY 22ND? 5 Things to Watch for BTC Price This Week | McAfee #post_titleM Bet Honored?
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Analysts predict that the end of the Bitcoin compression cycle will hit within days as BTC price action continues to preserve $9,000 support.
Equities led a somewhat uneventful start to the week’s trading, with major stocks futures slightly down on the day — by a maximum of 0.6% at press time.
Bitcoin likewise had a quiet weekend, with volatility remaining negligible and a narrow trading corridor continuing to characterize price performance.
On Monday, BTC/USD hovered at around $9,180, having hit local highs of $9,226 earlier, its highest since July 15.
As has become standard in recent weeks, coronavirus sentiment and reactions to associated remedial measures from governments and central banks dictate macro action, and Bitcoin remains susceptible to copycat moves.
With calm reigning prior to the opening bell on Wall Street, room for maneuver appeared limited, given the “compression” in BTC/USD over the past several weeks.
A cycle of higher lows and lower highs, the current compression cycle showed little sign of breaking this month.
However, the status quo is ripe for change — and that should happen this week, say analysts.
“This feels like a little World Cup of sorts. bitcoin could break out on or about the 22nd,” Jason Williams, co-founder of crypto hedge fund Morgan Creek Digital, tweeted on Sunday.
Investors should not treat Bitcoin as a safe-haven “too literally” within the current market, says the CEO of cryptocurrency exchange Binance.
Speaking to Bloomberg on July 20, Changpeng Zhao, known as “CZ” in cryptocurrency circles, cautioned against considering BTC/USD as having a particular relationship to stocks.
“I think people should not take that meaning of “safe haven assets” too literally… there are always multiple factors affecting the price of an asset,” he told the network.
“If you imagine Bitcoin as the same as a float and there’s the Titanic sinking beside it, if there’s a rope tying the float to the Titanic, then the float will sink down with the Titanic, even though the float does have floating properties — it’s just not able to sustain that kind of load.”
In other trending Bitcoin News today:
‘Worthless Coin’ – McAfee Says He Never Believed Bitcoin Would Hit $1M
John McAfee says he never believed Bitcoin would hit $1 million in a recent tweet, backtracking from his previous prediction.
In July 2017, John McAfee said he would “eat his own ****” if Bitcoin does not hit $500,000 within three years.
Today, BTC is hovering at a mere $9,130 and its price must increase by more than 5,376% to meet McAfee’s prediction.
In general, Bitcoin quite clearly got nowhere near $500,000 in the past three years.
Not only that, but McAfee is also seemingly backtracking from his $1 million per BTC prediction.
Last year, McAfee said he is positive Bitcoin goes to $1 million.
He said negativity around the cryptocurrency market was overblown, especially considering Bitcoin was in the mid-$10,000s.
But on July 19, 2020, McAfee said:
“Not going to get out of it. I never believed Bitcoin would hit $1 mil. It’s absurd. It’s an old, tired, worthless coin. I just wanted to eat my **** on TV. Wait for it.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
John McAfee honored his bet, made three years ago, to bite off his dick if #Bitcoin wasn’t at $500,000
GOOD NEWS: He’s doing well at the hospital and expected to make a full recovery. pic.twitter.com/5ak0jau42u
— Max Keiser (@maxkeiser) July 19, 2020
Not going to get out of it. I never believed Bitcoin would hit $1 mil. It’s absurd. Ir’s an old, tired, worthless coin.I just wanted to eat my dick on TV.
Wait for it.
— John McAfee (@officialmcafee) July 19, 2020
I’ve only made one bet in crypto. $1 mil by the end of 2020. I’ve never lost a bet. I cannot lose. It will be many times more. Wake up and use your head. It was given to you for a purpose.
— John McAfee (@officialmcafee) July 14, 2019
This feels like a little World Cup of sorts. #bitcoin could break out on or about the 22nd.I don’t think I would want to be on the sidelines going into this but low time pref 🧠
Tina and I both agree that #bitcoin volatility could be extraordinary to the upside. @BitcoinTina pic.twitter.com/EWoB0Tv8VW
— Jason Williams 🦍 (@JWilliamsFstmed) July 19, 2020
https://cointelegraph.com/news/bitcoin-price-predictions-by-top-analysts-are-usually-wrong-heres-why
https://cointelegraph.com/news/worthless-coin-mcafee-says-he-never-believed-bitcoin-would-hit-1m
https://cointelegraph.com/news/bitcoin-breakout-on-july-22-5-things-to-watch-for-btc-price-this-week
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BITCOIN WILL SKYROCKET TO 0,000 BY 2022 VERY EASY!! BTC PRICE PREDICTIONS – CMDX INTERVIEW!!
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“The Bitcoin price will skyrocket to $250,000 by the end of 2022 – BTC will make it look very easy” says CMDX founder Tom McMurrain.
In this exclusive crypto interview we discuss everything from the latest BTC price predictions, Ethereum (and its supply cap), Chainlink, DeFi, altcoins as well as a potential altcoin season here amongst us in late 2020.
We also talk about how to create your own cryptocurrency and even more importantly how to create massive demand utilizing scarcity to grow a thriving crypto community.
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🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: ► http://trezor.cryptonewsalerts.net
Ledger: ► http://ledger.cryptonewsalerts.net
DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
For more details on CMDX – the fastest growing health rewards cryptocurrency in the world, please visit: http://cmdx.io
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