2024-01-12 22:36

Copyrighted Image by: Reuters NEW YORK - The U.S. Securities and Exchange Commission's (SEC) stance on an Ethereum-based exchange-traded fund (ETF) has become a topic of debate among financial analysts and major investment firms. Despite a widespread sense of anticipation, JPMorgan has expressed skepticism regarding the SEC's approval of a spot Ethereum ETF by May 2024 without Ethereum being classified as a commodity, similar to Bitcoin. The SEC has maintained a cautious approach in the wake of approving Bitcoin ETFs. The commission's particular concern lies with staking protocols associated with Ethereum, as these could lead to tokens being classified as securities, which would likely complicate the approval process. Several major firms, including BlackRock (NYSE:BLK) and Fidelity, have demonstrated their interest in the cryptocurrency space by filing for spot Ethereum ETFs. The market is closely watching these developments, as a decision on VanEck's Ethereum ETF application is expected by May 23. The outcome of this decision is anticipated to significantly influence the regulatory landscape for Ethereum-based investment products. https://www.investing.com/news/cryptocurrency-news/jpmorgan-casts-doubt-on-ethereum-etf-approval-by-may-93CH-3273871

2024-01-12 20:37

Copyrighted Image by: Reuters NEW YORK - Gold prices witnessed a significant rise today, as investors turned to the safe-haven asset amidst escalating geopolitical tensions. The uptick in prices follows airstrikes carried out by the United States and the United Kingdom in Yemen. On New York's COMEX, February futures for gold reached a notable $2,051.60 per ounce, while spot gold was also up, trading at $2,038.88 per ounce. The precious metal's value is often seen as a barometer for geopolitical stability, and today's increase reflects concerns over the potential fallout from the military actions in Yemen. Alongside the rise in gold prices, U.S. futures also saw an upward movement, with the value recorded at $2,043.35. Investors typically flock to gold during times of uncertainty, and the current geopolitical climate has reinforced this trend. The airstrikes have raised apprehensions about the stability in the region, prompting a shift towards the relative safety of gold. https://www.investing.com/news/commodities-news/gold-prices-climb-amid-geopolitical-tensions-after-usuk-airstrikes-in-yemen-93CH-3273806

2024-01-12 15:27

Copyrighted Image by: Jakub Porzycki via Reuters Connect GLOBAL - Tether (USDT) has strengthened its status as a dominant stablecoin, with its market capitalization now exceeding $93 billion, bolstered by a recent issuance of 1 billion USDT on the Ethereum network. This growth is part of an aggressive minting strategy, highlighted by a $2 billion minting event that signals robust investor confidence and may foreshadow upcoming market price increases. In contrast, USDC, the stablecoin backed by Circle, has experienced a downturn, with its market valuation decreasing to approximately $25 billion, a drop influenced by the U.S. banking crisis in March 2023. Despite this setback, Coinbase (NASDAQ:COIN) is actively working to expand USDC's footprint, partnering with platforms such as Yellow (OTC:YELLQ) Card to enhance its adoption in African markets. The Tron network has played a significant role in Tether's ascension, as USDT on Tron is increasingly adopted as a preferred global crypto payment system. This trend underscores the shifting landscape of the stablecoin market, where Tether's strategic moves are carving a strong position. https://www.investing.com/news/cryptocurrency-news/tether-surpasses-93-billion-valuation-leads-stablecoin-market-93CH-3273627

2024-01-12 14:52

Coinbase (NASDAQ:COIN), Others on Fall as Bitcoin Hits Low https://www.investing.com/news/cryptocurrency-news/coinbase--others-on-fall-as-bitcoin-hits-low-432SI-3273605

2024-01-12 14:16

Copyrighted Image by: Reuters CHICAGO - Cboe Digital, the digital asset arm of Cboe Global Markets (NYSE:CBOE), announced the launch of its new margined futures for Bitcoin and Ether, marking the company as the first U.S. regulated crypto native exchange to offer both spot and leveraged derivatives trading on a single platform. The inaugural trades were supported by industry partners including Blockfills, DV Trading LLC, Jump Trading Group, Marex, Toa Capital Partners, and Wedbush. The launch represents a significant step for Cboe Digital in its aim to unify the fragmented crypto spot and futures markets. John Palmer, President of Cboe Digital, highlighted the importance of this development for the exchange and clearinghouse, anticipating increased investor demand for derivative products to manage crypto exposures and improve capital efficiencies. Thomas Texier of Marex and Jake Moore of Toa Capital Group expressed their organizations' support for the initiative, emphasizing the competitive technology and secure access to regulated futures markets that Cboe Digital provides. Bob Fitzsimmons from Wedbush Securities also acknowledged the role of Cboe Digital in fostering a transparent and regulated crypto market. Cboe Digital's strategy includes plans to broaden its product offerings to encompass physically delivered products, subject to regulatory approval. The platform's design facilitates easy access to both spot and derivative markets, aiming to introduce more groundbreaking offerings to the crypto sector in the future. Cboe Global Markets is a prominent derivatives and securities exchange network that operates across North America, Europe, and Asia Pacific, offering a range of trading solutions and products. The information in this article is based on a press release statement from Cboe Digital. The company's futures products are available through Cboe Digital Exchange, LLC, and Cboe Clear Digital, LLC, both registered with the CFTC. However, the CFTC does not oversee spot market trading of virtual currencies, and Cboe Digital's Spot Market is not covered by CFTC rules or regulations. The Spot Market operates in New York under a "BitLicense" granted by the New York State Department of Financial Services. https://www.investing.com/news/cryptocurrency-news/cboe-digital-debuts-bitcoin-and-ether-margined-futures-93CH-3273590

2024-01-12 14:03

Copyrighted Image by: Reuters Cboe (CBOE) Digital Launches Margined Bitcoin and Ether Futures, Announces Successful First Trade Cboe Digital announced it successfully launched margined Bitcoin and Ether futures and completed its first margined Bitcoin futures trade. With support from Blockfills, DV Trading LLC, Jump Trading Group, Marex, Toa Capital Partners and Wedbush in executing these trades, Cboe Digital becomes the first U.S. regulated crypto native exchange and clearinghouse to offer both spot and leveraged derivatives trading on a single platform. "As an exchange and clearinghouse, this is a significant milestone for Cboe Digital and its vision to unify the crypto spot and futures market," said John Palmer, President of Cboe Digital. "The future of crypto is at an exciting juncture and as more investors look to participate in this asset class, we expect to see greater demand for derivatives to help manage their crypto exposures, hedge risk and enhance capital and operational efficiencies. We are grateful for the hard work from our intermediaries, partners and team members that got us here and look forward to continuing working with them to help drive the market's growth." "We believe transparent and U.S. regulated markets drive customer demand for these products and Marex was keen to support its customers from the outset," said Thomas Texier, Head of Clearing at Marex. "Cboe Digital's margin futures launch will help bring competitive technology and innovative solutions to the crypto spot and leveraged derivatives markets." "As a market maker with industry leading risk controls, we are pleased to be working with a high-quality exchange such as Cboe Digital whose focus is to enable broader institutional participation and adoption of cryptocurrencies," said Jake Moore of Toa Capital Group. "Cboe Digital's offer in providing secure access to regulated futures markets is key to maturing this nascent asset class." "Cboe Digital has been influential in helping facilitate the creation of a transparent well-regulated crypto spot and derivatives market," said Bob Fitzsimmons at Wedbush Securities. "We look forward to continued collaboration in this market and congratulate Cboe Digital on this exciting next step." Following its launch of financially settled margined contracts on Bitcoin and Ether, Cboe Digital plans to expand its product suite to include physically delivered products, pending regulatory approval. Significantly, Cboe Digital's unified spot and derivatives trading platform is designed to allow customers to easily access both markets. Operating this integral exchange and clearinghouse model also enables Cboe Digital to potentially bring more unique and groundbreaking offerings to the crypto markets. For more information about the new margined Bitcoin and Ether futures, visit Cboe Digital's website here. https://www.investing.com/news/cryptocurrency-news/cboe-digital-launches-margined-bitcoin-and-ether-futures-announces-successful-first-trade-432SI-3273576