Coin4Pro

Franklin Templeton seeks SEC’s nod for BTC, ETH Crypto Index ETF

Coin4Pro- The $1.5 trillion asset manger Franklin Templeton is the latest player seeking to launch a crypto index ETF (exchange-…

Coin4Pro- The $1.5 trillion asset manger Franklin Templeton is the latest player seeking to launch a crypto index ETF (exchange-traded fund). The firm filed a registration statement, S-1 form, with the U.S SEC (Securities and Exchange Commission) for an index ETF that would track Bitcoin [BTC] and Ethereum [ETH].

Part of the filing read,

“The Fund generally seeks to reflect the price of the digital assets included in the CF Institutional Digital Asset Index – US–Settlement Price (the “Underlying Index”)… The Underlying Index’s only constituent digital assets are bitcoin and ether.”

Crypto index ETF race

Market pundits have been speculating that a crypto index ETF is the next step after the top assets, BTC and ETH, got individual ETFs. In fact, Brian Armstrong, Founder of Coinbase, echoed this sentiment in the recent earnings call.

“I think these things could be really beneficial…We’d ultimately like to see a path where we could start to get index funds — retail products — in the crypto space.”

He also teased a Coinbase 500 that offers exposure to top crypto assets, similar to the S&P 500 Index, which tracks top U.S firms.

That being said, Armstrong acknowledged that regulatory challenges could delay such a vision, given that BTC and ETH are the only assets with regulatory clarity at the moment.

Meanwhile, Nate Geraci clarified that Franklin Templeton’s crypto index fund (EZPZ) could only include extra assets like Solana [SOL] with regulatory approval.

“Would require regulatory approval to hold any additional digital assets…”

So far, Hashdex is the first to show interest in a U.S crypto index fund. The SEC’s decision on Hashdex’s application deadline is September 2024.

Franklin Templeton’s move is a sign that the space could hit up soon, at least for those seeking collective exposure to BTC and ETH.

Approval will only happen if the SEC signs off on both the S-1 (registration statements) and the exchanges’ 19b 4b (rule changes). If approved, these would be the United States’ first publicly-traded crypto index funds.

However, it is worth noting that Bitwise already has a crypto index fund, Bitwise 10 Crypto Index Fund (BITW), tracking the top 10 assets. Right now, the fund is only available privately to approved clients and not on major exchanges like NYSE or Nasdaq though.

Source: https://ambcrypto.com/

Karin3110 August 18, 2024 Arti Lirik Lagu Terjemahan Lyrics | Karin3110 Palangka Raya, Indonesia

Bitcoin

Bitcoin Price Holds Above $56,500

Coin4Pro- Bitcoin‘s price is currently trying to maintain its position above $56,500. The cryptocurrency market remains weak, par…

Coin4Pro- Bitcoin‘s price is currently trying to maintain its position above $56,500. The cryptocurrency market remains weak, particularly among altcoins, which depend heavily on Bitcoin’s stability to attract capital inflows. Investors are keenly observing the market’s next moves, especially for ADA, AVAX, and Shiba Coin, to understand what levels might be expected in the near future.

What Are the ADA Coin Predictions?

Weekends often see reduced trading volumes, making cryptocurrencies more susceptible to sudden drops. However, this weekend has shown stable movement for ADA Coin. Despite the potential for sharp movements, ADA Coin has managed to avoid such scenarios. Currently, ADA Coin is trading below the EMA20 level of $0.35, indicating that short-term profit-taking is prevalent. If the $0.31 support level remains intact, it’s possible to reclaim $0.35 as a key short-term support level. Access COINTURK FINANCE to get the latest financial and business news.

Failure to maintain this support could lead to a steep decline to $0.24, demonstrating the pressure on altcoins even during bullish trends in bear markets.

Is AVAX Coin A Safe Bet?

AVAX Coin is experiencing downward pressure within a descending channel formation. The current support level is $19.5, with EMA20 suggesting a safer zone at $22.46. Closing above $22.46 could trigger a rise to $29 and beyond. Conversely, falling below $19.5 could lead to new lows beneath the channel’s support line.

Shiba Coin has had a challenging week, adding to the difficulties faced over recent months. The critical level for Shiba Coin is $0.000012. If the coin can maintain this level, it may rise to $0.00002. However, if it falls below, it may drop to $0.000010 or lower.

Concrete Insights for Investors

– ADA Coin’s key short-term support is at $0.35, with a critical support level at $0.31.
– AVAX Coin must stay above $19.5 to avoid further declines, with potential rises if it surpasses $22.46.
– Shiba Coin’s critical threshold is $0.000012; maintaining this could lead to a rise to $0.00002.

Source: https://en.bitcoinhaber.net/

Karin3110 August 17, 2024 Arti Lirik Lagu Terjemahan Lyrics | Karin3110 Palangka Raya, Indonesia

Bitcoin

Elon Musk and Mike Novogratz Highlight Bitcoin’s Value Amid Inflation and Government Spending Concerns

Elon Musk recently voiced his concerns about inflation, attributing it primarily to excessive government spending and the Federal…

Elon Musk recently voiced his concerns about inflation, attributing it primarily to excessive government spending and the Federal Reserve’s monetary policies.
This perspective gained traction when it was echoed by Mike Novogratz, a prominent figure in the cryptocurrency sector known for his support of Bitcoin and other digital assets.
Novogratz emphasized the bipartisan nature of Musk’s comment, suggesting that Bitcoin and other tangible assets will continue to hold value in the face of unresolved entitlement issues.

Discover the latest insights on inflation, government spending, and the rising role of Bitcoin as a valuable asset amid economic uncertainty.

Elon Musk’s Stance on Inflation and Government Spending

Elon Musk has publicly criticized the current inflationary environment, pointing fingers at what he perceives as reckless government expenditure and monetary policies enacted by the Federal Reserve. Musk argues that a significant reduction in wasteful government spending is essential to curb inflation effectively. This assertion, while not new, has sparked considerable discussion within financial circles.

Mike Novogratz’s Endorsement and Its Implications

Mike Novogratz, a stalwart in the cryptocurrency world, lent his support to Musk’s remarks. Novogratz has been a consistent advocate for Bitcoin and other digital currencies, often highlighting their potential as valuable assets. He argues that the issue of inflation is bipartisan, affecting people across political affiliations. By endorsing Musk’s viewpoint, Novogratz underscores the importance of tangible assets like Bitcoin, gold, and silver as viable options amidst economic instability. He believes that due to the government’s reluctance to reform entitlement programs such as Social Security and Medicare, Bitcoin’s value proposition remains strong.

The Broader Financial Perspective

Elon Musk and Mike Novogratz are not alone in their criticism of current economic policies. Financial expert Robert Kiyosaki, author of “Rich Dad Poor Dad,” has also expressed concerns, though with a more antagonistic approach. Kiyosaki goes as far as to denounce the dollar, labeling it a “fake” currency, while Musk and Novogratz focus on criticizing Federal Reserve policies instead. This diversity of opinion highlights the growing unease within financial markets.

Economic Outlook and Bitcoin’s Role

As debates continue, the broader financial landscape remains riddled with uncertainty. Indicators suggest a recession may already be taking hold, with inflation rates showing signs of decline amid speculation about potential interest rate cuts. In this climate, Bitcoin has emerged as an alternative safe haven, potentially rivaling gold. However, not everyone shares this optimism. Critics like Peter Schiff maintain a skeptical view of Bitcoin’s resilience and long-term value.

Source: https://en.coinotag.com/

Karin3110 August 17, 2024 Arti Lirik Lagu Terjemahan Lyrics | Karin3110 Palangka Raya, Indonesia

Bitcoin

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