Stablecoins currently hold about 1% of US Treasury bills, with projections suggesting this could rise to 15%, positioning them among the top three holders of these securities. Tether leads with $80.9 billion in Treasury bills, outpacing major money market funds. As the US Treasury faces challenges in attracting buyers amid potential rate cuts and reduced foreign holdings, the need for a crypto-friendly regulatory environment becomes increasingly critical.
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Ethereum Targets $4,000 on Consensys and ETF News
Ethereum is aiming for a $4,000 target, with positive signals affirming bullish price movement. The potential launch of a Bitwise Ethereum ETF, pending SEC approval, could further impact market dynamics. Bitcoin, on the other hand, experienced outflows in the US BTC-spot ETF market, while technical analysis suggests potential support and resistance levels for ETH.
read moreEthereum ETF Approval Odds Diminish as May Deadline Nears
Analysts’ optimism for the approval of Ethereum Spot Exchange-Traded Funds (ETFs) in May is dwindling, with Bloomberg Intelligence analyst Eric Balchunas lowering the likelihood to 25%. Bitwise Invest’s recent filing for an ETH ETF with the SEC has sparked some hope, but experts remain skeptical about the prospects, especially with the SEC’s silence on the matter. Balchunas emphasized the slim odds of approval and highlighted the meticulous correlation analysis conducted by Bitwise as part of their ETF filing.
read moreBitcoin ETFs Surpass Top Equities ETFs in Individual Trades Volume
Bitcoin exchange-traded funds (ETFs) have surpassed the top two equities ETFs in individual trades, indicating a strong retail interest. Bloomberg’s senior ETF analyst highlights the significant retail component and compares the launch of BTC ETFs to Bitcoin’s “initial public offering (IPO) moment.” With Bitcoin trading at $63,842 and an 11.69% increase in the last 24 hours, the ETFs are gaining traction among retail investors.
read moreBitcoin’s New Era: ETFs and Long-Term Holders Transform Price Discovery
Bitcoin is experiencing a significant shift in its investment landscape, with the introduction of ETFs enabling global access for a wide range of investors. This democratization of access, coupled with the steadfastness of long-term holders, is expected to drive substantial price escalations, with projections indicating the potential for Bitcoin to reach all-time highs in 2024 and beyond. The cryptocurrency’s ‘IPO moment’ signifies a transformative phase of price discovery, setting the stage for new benchmarks and growth in the market.
read more2024 Crypto Trends: Bitcoin, Asset Tokenization, and GameFi on the Rise
In 2024, Bitcoin is expected to take a leading role following the approval of a spot Bitcoin ETF and an imminent halving. Real-world asset tokenization is set to become a defining trend, allowing for fractional ownership of assets like real estate. Additionally, the emergence of blockchain-based games, known as GameFi, is anticipated to overcome previous adoption hurdles.
read moreBitcoin Leads Recovery Amid Anticipation of Spot ETF Approval in US
The US SEC is expected to approve spot Bitcoin ETFs, signaling a new era of mainstream adoption for cryptocurrencies. This follows a significant recovery in the Bitcoin and altcoin market after a $1 billion selloff. Former SEC Chair Jay Clayton and current Chair Gary Gensler have both indicated that approval is imminent.Bitcoin’s price has shown increased volatility, but has recovered to around $45k. Fund managers are entering a fee war to offer spot Bitcoin ETFs, with Bitwise Invest offering the lowest fee of 0.24%. The altcoin market is also expected to see increased volatility due to Bitcoin’s success.The crypto market is in the early stages of a macro bull market, with the total market cap rising to about $1.74 trillion. The fourth Bitcoin halving in April is expected to trigger this bull market.
read moreBitcoin ETFs: Controversy Surrounds Approval as Former SEC Official Raises Concerns
Bitwise Invest has released a commercial featuring Jonathan Goldsmith to promote their spot Bitcoin ETF, despite reservations from former SEC official John Reed Stark. Stark criticizes the claims made by sponsors and promoters of Bitcoin ETFs, arguing that they lack consumer protection, regulatory oversight, and promote criminal activities. The approval of spot Bitcoin ETFs and their market response remain uncertain.
read moreBitcoin Analyst Predicts All-Time High of $80,000 by 2024
Bitcoin is predicted to reach an all-time high of $80,000 in 2024, driven by the launch of a spot Bitcoin ETF and the halving of new BTC supply. Analysts estimate that spot bitcoin ETFs could capture 1% of the $7.2 trillion U.S. ETF market, while stablecoins are expected to surpass Visa in terms of settlement volume. Ethereum revenue is also projected to double to $5 billion in 2024. Additionally, Coinbase’s revenue is expected to double, and JPMorgan is forecasted to tokenize a real-world assets fund.
read moreCrypto Predictions 2024: Bitcoin to Reach New All-Time High, Ethereum Set for Major Breakthrough
Bitwise Invest has released its crypto predictions for 2024, forecasting that Bitcoin will reach a new all-time high above $80,000 due to the launch of a spot Bitcoin ETF and the halving of new Bitcoin supply. The firm also expects Coinbase’s revenue to double and stablecoins to surpass Visa in terms of money settlement. Additionally, Ethereum’s revenue is predicted to more than double, and a major upgrade to Ethereum could reduce transaction costs and drive mainstream adoption. Bitwise also predicts increased adoption of cryptocurrencies by financial advisors.
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