Can You Buy Crypto On Moomoo – The US Securities and Exchange Commission (SEC) on Wednesday gave the green light to the first bitcoin exchange-traded funds (ETFs), marking a milestone in attracting retail and institutional investors to the cryptocurrency market.
We believe SEC approval, if we and others have it, is a green light for institutions. We’ve talked to some of them, and now that the SEC has cleared the way, they’re more interested,” said Kathy Wood, CEO of Ark Invest. Ark Invest has partnered with 21Shares on its proposed bitcoin fund.
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The SEC approved funds from several entities to begin trading on Thursday as part of its mission to protect investors.
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ETFs provide a convenient way to invest in assets or groups of assets without purchasing assets. For example, by investing in the $SPDR Gold ETF ( GLD.US ) $ , you can easily invest in gold without worrying about the safety or security of physical assets. Additionally, ETFs can be easily traded in the stock market. However, since Bitcoin’s inception, purchasing ownership of the cryptocurrency has involved creating a digital wallet or registering an account on a crypto trading platform such as $Coinbase ( COIN.US ) $ or Binance.
Unlike existing products that invest in bitcoin futures, recently approved bitcoin ETFs keep bitcoin in place. The decision also marks a U-turn for the SEC. After a decade of denial, the SEC has finally approved Bitcoin ETFs.
While spot bitcoin ETFs are available in other markets, their approval in the United States is expected to usher in a new era for the widely used and highly traded cryptocurrency. With the introduction of regulated products, institutional and retail investors in the United States can now have direct exposure to the currency without the risk of buying from unregulated exchanges or the high costs associated with Bitcoin Futures ETFs.
This approval means that retail and institutional investors have the ability to diversify their portfolios with crypto exposure without having to worry about complications,” said Campbell Harvey, professor of finance at Duke University. .portfolio”.
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After the approval, Bitcoin rose about 3.4% to $47,500 in 2022. The price of the original cryptocurrency fell 64% in 2023, but doubled in 2023, largely due to speculation that the SEC would approve it. ETFs. The approval allows investors to gain exposure to bitcoin through their traditional brokerage accounts, rather than relying on crypto-focused startups that have come under heavy regulatory scrutiny following a series of scandals and troubles in the sector.
Analysts at Standard Chartered said this week that the ETF could reach between $50 billion and $100 billion this year alone, pushing bitcoin’s price to $100,000, while others said it would be closer to $55 billion in five years.
Some issuers are already considering approval for other cryptocurrency spot ETFs. Of the possible candidates, Ether and XRP have made the most noise.
• “Bitcoin’s notorious price volatility…could expose mainstream investors to a less familiar spectrum of investment risks,” said Yiannis Giokas, senior director of Moody’s Analytics.
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• “Although we approved the listing and trading of some spot bitcoin ETP shares today, we have not endorsed or endorsed bitcoin,” SEC Chairman Gary Gensler said in a statement. “Investors should be aware of the numerous risks associated with Bitcoin and cryptocurrency-related products.”
• “I am concerned that these products will flood the market and go directly into the retirement accounts of American families who cannot afford to lose their savings due to widespread fraud and manipulation in the bitcoin market,” said Commissioner Carolyn Crenshaw. Oppose it.
$Marathon Digital ( MARA.US ) $ $ MicroStrategy ( MSTR.US ) $ $ Riot Platforms ( RIOT.US ) $ $ NASDAQ 100 Index ( .NDX.US ) $ $ Nasdaq Composite Index ( .IXIC.US ) $ $ S&P 500 Index ( .SPX.US ) $Bitcoin hit an all-time high of $69,000 on Tuesday. At the same time, cryptocurrency stocks such as $Coinbase(COIN.US)$, $Marathon Digital(MARA.US)$ and $MicroStrategy(MSTR.US)$ rose.
Last Wednesday, the ETF reached $7.6 billion in volume at the close of the market, surpassing the previous record, according to Bloomberg. Spencer Hallarn, global head of OTC trading at crypto-investment firm GSR:
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Bitcoin’s first price halving happened in 2012 when it was $12. The next semesters were in 2016 and 2020. After every half year, the price of Bitcoin has set new records several times, usually within 6-12 months.
Analysts at Bernstein said in a note that they think bitcoin’s best days are ahead and that the ETF-led bitcoin market is poised for what it expects to be a FOMO rally.
Analysts led by Nicolas Panigiratzoglu at JP Morgan said three major developments in the cryptocurrency space could stir retail investors and FOMO. Events include the bitcoin halving, the Ethereum network upgrade, and the SEC’s decision on the Ethereum spot ETF application. They assume that the market has overpriced the first two events and that the probability of the third event is about 50%.
Canada has a thriving crypto scene with several Bitcoin exchanges operating in the country. Some popular exchanges in Canada include CoinSmart, Coinsquare, Bitbuy and Newton. These platforms allow buyers and sellers to store their crypto, trade with each other and even exchange CAD for crypto. There are also several international exchanges that accept Canadian citizens, including Coinbase, CEX.IO and Coinmama.
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ETFs provide a convenient way to invest in assets or groups of assets without purchasing assets. For example $SPDR Gold ETF(GLD.US)$, you can easily invest in gold without worrying about the safety or security of physical assets. Since Bitcoin’s inception, purchasing ownership of the cryptocurrency has involved creating a digital wallet or registering an account on a crypto trading platform such as $Coinbase(COIN.US)$ or Binance. Unlike existing products that invest in bitcoin futures, recently approved bitcoin ETFs keep bitcoin in place.
By simply typing “Spot Bitcoin ETF” into the search bar, you can access 11 ETFs available for trading.
There are many types of “crypto concept funds”, the most closely related to the price of Bitcoin is the company Bitcoin HODL. These are companies that have invested heavily in Bitcoin and hold the cryptocurrency as part of their corporate treasury reserves.
$MicroStrategy ( MSTR.US ) $ is the world’s largest corporate holder of the most recently acquired bitcoin. However, it is important to note that investing in Bitcoin HODL can be more volatile than investing in Bitcoin directly.
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. Currently, the Crypto Fear and Greed Index has reached its highest point since 2021. Additionally, crypto-assets have no intrinsic monetary value or underlying assets. Their common use for speculative purposes, their association with significant volatility, significant energy demand and the financing of illegal activities make them extremely dangerous instruments. Best Checking Accounts Best Free Checking Accounts Best High Income Checking Accounts Building Credit Best Secured Credit Cards Debit Cards Building Credit Banking Best Credit Cards for Teens Best Credit Cards for Teens Under 18 Best Credit Cards for Kids and Teens Best Savings Money Transfers Best Money Transfer Apps Fast money transfer compared to money transfer services
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