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What happened Most cryptocurrencies moved higher today, as more mainstream financialinstitutions filed to launch spot Bitcoin exchange-tradedfunds (ETFs) and as altcoins gained steam. Since late afternoon yesterday, the price of the world's second-largest cryptocurrency, Ethereum (CRYPTO: ETH) , traded 3.4%
Bitcoin (CRYPTO: BTC) investors might recall a fine Wednesday last January when the first exchange-tradedfunds (ETFs) based on spot Bitcoin prices hit the Street. The Securities and ExchangeCommission (SEC) rejected that application five years later, but the idea of spot Bitcoin ETFs persisted.
XRP, the native cryptocurrency of the Ripple payment platform, is a much smaller token that has largely traded on the drama surrounding a U.S. Securities and ExchangeCommission (SEC) lawsuit over the past four years. First, the SEC approved Bitcoin's first 11 spot price exchange-tradedfunds ( ETFs ) in January.
The differences between XRP and other cryptocurrencies XRP is the native cryptocurrency of Ripple, a blockchain ledger which is used as a cheaper, faster, and more secure alternative to the widely used SWIFT (Society for Worldwide Interbank Financial Telecommunication) protocol for money transfers. To make matters worse, the U.S.
Securities and ExchangeCommission (SEC) approved the first spot price Bitcoin exchange-tradedfunds ( ETFs ) earlier this year. But it says the PoS process that Ethereum uses makes it more similar to a security, which is subject to tighter regulations than commodities.
What happened Most cryptocurrencies rose this week as investors cheered more interest and participation in the sector from large mainstream financialinstitutions. The price of the world's largest cryptocurrency, Bitcoin (CRYPTO:BTC), traded more than 13% higher on the week as of 12:25 p.m. Image source: Getty Images.
In the last month, a wave of major financialinstitutions have applied to offer spot Bitcoin (CRYPTO: BTC) exchange-tradedfunds (ETF) in a bid to bridge Wall Street with the original cryptocurrency. Although no ETF has been approved yet, the SEC's blessing looks more likely by the day.
Cathie Wood is the head of Ark Investment Management, which operates 14 exchange-tradedfunds (ETFs) focused on technological innovations. As a result, it's too unpredictable to become a means of exchange for most consumers and businesses. Securities and ExchangeCommission (SEC) in January.
Investors are still digesting a wave of negativity, which included the collapse of several cryptocurrency exchanges last year, not to mention some of the industry's most prized stablecoin experiments. As more trusted, well-known firms on Wall Street throw their hats into the ring, the SEC might find it harder to justify further rejections.
But Bitcoin (CRYPTO: BTC) brought the cryptocurrency market roaring back to life in recent months as two potential tailwinds caught investors' attention: the pending approval of spot Bitcoin exchange-tradedfunds (ETFs) and the reduction in Bitcoin mining rewards later this year. The first catalyst has already come to fruition.
financial markets, the belief that a spot Bitcoin exchange-tradedfund (ETF) will be approved by the Securities and ExchangeCommission (SEC) in January, and the expectation of Bitcoin's "halving" event, which is expected to occur in April 2024.
The token has benefited from the creation of spot Bitcoin exchange-tradedfunds (ETFs), lower interest rates, and a growing view that the token could be a hedge against inflation. The new administration may take a different approach and institute new leadership at the Securities and ExchangeCommission (SEC).
This is why the Securities and ExchangeCommission (SEC) has already said that Bitcoin is a commodity , like wheat or gold, rather than a stock-like security. Bitcoin's catalysts Earlier this year, the SEC approved numerous spot Bitcoin exchange-tradedfunds , a highly anticipated event.
Several financialinstitutions are trying to launch Bitcoin-based exchange-tradedfunds (ETFs). The Securities and ExchangeCommission (SEC) is dragging its feet on approving these applications, but regulators can't kick that can down the road forever.
Learn More What could happen As of March 12, nine asset management companies had submitted materials to the Securities and ExchangeCommission (SEC) seeking to get approval to offer an exchange-tradedfund (ETF) that holds XRP. More companies may submit filings later this year.
It promoted the network as a faster and cheaper alternative to the SWIFT (Society for Worldwide Interbank Financial Telecommunication) payment protocol used by most financialinstitutions. It's mainly used to route real-time payments, remittance transfers, and currency exchange transactions. But in 2020, the U.S.
Coinbase Global (NASDAQ: COIN) got a big boost as institutional investors look to have the U.S. Securities and ExchangeCommission grant approval for some interesting new investments. One of those exchanges, Cboe (NYSEMKT: CBOE) , said that it would work with Coinbase to ensure proper surveillance.
21, the Securities and ExchangeCommission (SEC) opted to drop its case against Coinbase, which alleged that it had been operating an unregistered securitiesexchange as a result of one of its cryptocurrency-related offerings to investors. 21, the SEC dropped its case against Robinhood's crypto platform.
Above all else, court rulings are pushing the Securities and ExchangeCommission (SEC) toward considering the approval of exchange-tradedfunds (ETFs) based on the spot price of Bitcoin tokens.
The investing world eagerly awaited the approval of a Bitcoin exchange-tradedfund (ETF). The company is an exchange for buying and selling cryptocurrencies, and it generated $289 million in transaction revenue in the third quarter of 2023 alone. Of this, 37% was due to users trading Bitcoin.
Moreover, the crypto industry had its own milestone moment as the Securities and ExchangeCommission (SEC) approved several spot Bitcoin exchange-tradedfunds (ETFs). These new investment products are offered by financialinstitutions such as Ark Invest, BlackRock , and many others.
In fact, older technology like SWIFT transfers can be many times more expensive and take days to execute instead of seconds, and that's before accounting for the costs users need to shoulder to exchange currencies to actually close the transaction. But the coin can do more than simply be a medium of exchange for transfers. Treasuries.
Regulatory acceptance looms The Securities and ExchangeCommission (SEC) recently approved applications from several firms looking to launch the first spot Ethereum exchange-tradedfunds (ETFs). The most significant impact, however, is the potential influx of institutional investors.
Ripple uses that blockchain platform to offer cross-border payment solutions to banks and other financialinstitutions like merchant services providers. Ripple CEO Brad Garlinghouse recently gave XRP holders some long-awaited good news: The Securities and ExchangeCommission (SEC) has dropped its lawsuit against the company.
Since its introduction, the Ripple payments network has expanded to include more than 80 markets and 100 financialinstitutions. XRP could soar following the approval of spot exchange-tradedfunds (ETFs) In January 2024, the Securities and ExchangeCommission (SEC) approved the creation of spot Bitcoin ETFs.
The difference could lie in institutional ownership. Large financialinstitutions, such as mutual funds, pension funds, and even insurance companies, have begun investing in blue chip cryptos. The path toward an XRP ETF An ETF is a bundle of assets that can be traded on exchanges like a regular stock.
Ripple, the company that issues XRP, has been embroiled in a multiyear battle with the Securities and ExchangeCommission (SEC) , which sued it on the grounds that it had made an unregistered securities offering when it created and sold XRP. Moreover, regulators could perhaps compel crypto exchanges in the U.S.
A big regulatory risk is now defused On March 19, the Securities and ExchangeCommission (SEC) dropped a lawsuit it had been pursuing against Ripple, the company that issues XRP, for more than four years. Regulators had alleged that the business made an unregistered securities offering when it issued XRP.
Monica Long, the president of Ripple Labs (the developer behind XRP), believes an XRP-based exchange-tradedfund (ETF) could arrive "very soon." Several companies, including asset management firm Bitwise, have filed S-1 forms with the Securities and ExchangeCommission (SEC) requesting approval to create XRP-linked ETFs.
Learn More These investments are getting popular among institutional investors Per a filing with the Securities and ExchangeCommission (SEC) in mid-February, Goldman Sachs recently bought large volumes of exchange-tradedfunds (ETFs) that hold Bitcoin and Ethereum. It now owns at least $1.5
19, institutional investors in Brazil are allowed to hold and tradeexchange-tradedfunds (ETFs) that hold XRP. Now, the investors at those financialinstitutions will be able to contribute to the volume of traffic on XRP's chain, which as of the afternoon of Feb. In the U.S.,
Learn More Regulators look like they're increasingly dovish In late January, the asset manager Grayscale Investments filed with the Securities and ExchangeCommission (SEC) to convert its over-the-counter (OTC) traded XRP trust into an exchange-tradedfund (ETF).
Learn More Tom Lee, managing partner and head of research at Fundstrat Global Advisors, late last year said Bitcoin could exceed $250,000 in 2025 as spot Bitcoin exchange-tradedfunds (ETFs) and the incoming presidential administration help legitimize the cryptocurrency. But the SEC has since appealed the decision.
Ark recently purchased a cryptocurrency exchange-tradedfund (ETF) that one Wall Street analyst thinks could shoot 164% higher next year. ETFs are highly liquid and trade like stocks, so many view them as an easier financial instrument to trade than buying cryptocurrencies directly. million by 2030.
President Trump's deregulatory approach has certainly made the outlook for Bitcoin increasingly bullish because it makes further institutional adoption much more possible. The Securities and ExchangeCommission (SEC) recently removed its Staff Accounting Bulletin (SAB) 121.
That might not seem all that earth-shattering, but keeping transaction costs low could save financialinstitutions lots of money, and speeding up the process would be a win for customers who need timely access to their funds. due to an expected lighter touch by the Securities and ExchangeCommission (SEC).
For several years now, Ripple has been bogged down in an epic lawsuit with the SEC over whether it is a cryptocurrency or a security. The current head of the SEC, Gary Gensler, announced that he will be stepping down soon. For years, the SEC has been perceived as anti-crypto and anti-XRP. operations. Should you buy XRP?
Trump already nominated pro-crypto businessman Paul Atkins to run the Securities and ExchangeCommission (SEC), which was music to the industry's ears (although he must be confirmed by the Senate first). This network allows banks and financialinstitutions to send money around the world in seconds rather than days.
Gary Gensler, chair of the Securities and ExchangeCommission (SEC), has already announced his plan to step down when Trump takes office. They also expect the SEC or Congress to repeal the SEC's Staff Accounting Bulletin (SAB)-121 in Trump's first quarter in office. 25 but had risen to 48% on Nov.
See the 10 stocks Easier access The Securities and ExchangeCommission (SEC) approved spot Bitcoin exchange-tradedfunds (ETFs) exactly a year ago. We're also seeing major financialinstitutions -- banks, asset managers, and hedge funds -- becoming bullish on Bitcoin.
Gary Gensler, chairman of the Securities and ExchangeCommission (SEC), said he will step down once Trump takes office. There will also likely be more spot-crypto exchange-tradedfunds (ETFs) and more tokens being sold through traditional brokerages. Ethereum is a little more complicated than Bitcoin.
XRP, though, has struggled since it became the target of a Securities and ExchangeCommission (SEC) lawsuit. The SEC sued Ripple, Garlinghouse, and Larsen, claiming they sold XRP as an unregistered security in 2012. Ripple and its founders won the case, but the SEC has appealed parts of the court decision.
Networks like SWIFT (Society for Worldwide Interbank Financial Communication) were established to help global banks communicate with one another and settle transactions more quickly, but not every financialinstitution is on board, so there isn't a holistic solution just yet. Securities and ExchangeCommission (SEC).
And the Securities and ExchangeCommission (SEC) has approved Bitcoin and Ethereum spot exchange-tradedfunds (ETFs). Using these funds and platforms like Coinbase is a lot easier than getting your own digital wallet and trying to remember long passphrases to store and access your tokens.
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