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☆ Memecoin gains will fade as crypto rally presses on. Look to these names instead, says Bank of America
▼ + stars: | 2024-11-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Memecoins have seen some of the biggest gains in the postelection crypto rally, but market leadership could soon flip to more "serious" tokens. "We don't expect the rally to resemble the '17 or '21 bull markets and would fade the rally for 99% of tokens in circulation with no intrinsic value," Shah said in a note this week. "We expect token prices to diverge in the near term as BTC and cash flow-generating tokens that power networks outperform meme tokens." "These tokens power blockchain operating systems, similar to Microsoft Windows, that enable developers to build applications like decentralized exchanges and Web3 platforms on top of them, creating networks with value." Avalanche's AVAX token has gained 36%, and the tokens tied to Uniswap and Polygon have gained 23% and 25%, respectively.

Persons: Memecoins, Donald Trump, Alkesh Shah, Shah, Avalanche's, Memecoin Shiba Inu, Elon Musk, Trump, ", bitcoin, –, Ethereum, It's, it's, — CNBC's Michael Bloom Organizations: Bank of America, BTC, Microsoft Windows, Uniswap, Elon, Government, Securities and Exchange Commission, SEC, Solana Locations: AVAX, Ethereum

☆ Donald Trump's economic policies should be positive for crypto: Bitwise's Matt Hougan
▼ + stars: | 2024-11-11 | by ( Tanaya Macheel | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDonald Trump's economic policies should be positive for crypto: Bitwise's Matt HouganCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. Bitwise CIO Matt Hougan speaks with Crypto World's Tanaya Macheel about what he expects for crypto markets under a Trump administration and his bullish outlook for ETH.

Persons: Donald, Matt Hougan, explainers, Crypto, Trump Organizations: Matt Hougan CNBC, ETH

☆ Piper Sandler says Trump will usher in a wave of mainstream crypto adoption — so buy these stocks
▼ + stars: | 2024-11-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

"Its monetized crypto offering is significantly more robust than traditional retail brokerage peers, with over 15 tokens available to trade," the analyst wrote of Robinhood. Still, Moley's $30 price target on Robinhood is only a fraction above where the stock closed Thursday. Moley's $250 price target implies that CME stock could add another 13% over the next 12 months. Moley's $35 price target is nearly 5% higher than where the stock closed on Thursday. Shares of Cboe have added 12% this year, trailing the broader market, and Moley's $220 price target implies an additional 9% upside.

Persons: Trump, Piper Sandler, Cryptocurrency, bitcoin, Patrick Moley, Moley, HOOD Organizations: CME Group, CME, BTC, ETH, Virtu, Derivatives, Clearing Locations: U.S

☆ Ether is set to gain ground on bitcoin with charts indicating 20% upside from here
▼ + stars: | 2024-10-30 | by ( ) www.cnbc.com time to read: +3 min

With bitcoin approaching a major breakout attempt and new all-time highs, it continues to attract all of the attention and rightly so. While it may seem like ether has been out of favor for a considerable length of time, it's not anything different than we've seen before over the years. Overall, there have been five relative phases – with the other two being the times when ETH outperformed BTC. But we've seen it before. Every time is different, but we've now seen bitcoin and ETH leverage technical patterns for nearly a decade now.

Persons: we've, they've, Frank Cappelleri Organizations: ETH, BTC, CNBC, NBC UNIVERSAL Locations: ETH

☆ Israel's Sinwar video shows the chilling reach of battlefield drones
▼ + stars: | 2024-10-18 | by ( Matthew Loh | Mia Jankowicz | ) www.businessinsider.com time to read: +7 min

Only 13 years ago, the world learned of what were Muammar Gaddafi's last few moments through shaky video filmed on cellphones. Small drones are a critical feature of combat in Ukraine, where they've been used for battlefield observation and attack. The hovering quality of the Sinwar video indicates it was likely filmed by a quadcopter. AdvertisementThe astounding wealth of drone-fed intelligence, surveillance and reconnaissance has made more of the battlefield visible than ever before. Nonetheless, technological advances mean that drones watching the battlefield will be a ubiquitous feature of future wars, a looming threat to ground troops and fleeing leaders.

Persons: Israel, Yahya Sinwar's, —, Yahya Sinwar, Sinwar, Yahya Sinwar’s, GJGDlu7bie, Nadav Shoshani, Muammar Gaddafi's, Mauro Gilli, Gilli, they've, It's, Volodymyr Zelenskyy, Maria Berlinska, Guy Prives Organizations: Service, Swiss, ETH Zurich, Anadolu, Getty, Pentagon, IDF Locations: Libyan, It's, Ukraine, Russian, Moscow, Kursk, Israel

☆ Solana cryptocurrency could rally 400% if Trump wins election, Standard Chartered says
▼ + stars: | 2024-10-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The solana cryptocurrency could outperform ether and bitcoin in a big way if former President Donald Trump wins the U.S. election, according to Standard Chartered. In a new research note, the bank's head of digital assets, Geoffrey Kendrick, outlined his expectations for bitcoin, ether and solana depending on whether Trump or his Democratic opponent Vice President Kamala Harris wins the presidential election. "Similar arguments can be made for the relative outlook for ETH versus BTC under a Trump versus Harris outcome in the US," Kendrick added. If Harris takes the White House, however, Kendrick said he expects bitcoin to outperform ether, and ether to outperform solana in 2025. Solana valuation Despite his bullish call on solana under a Trump presidency, Kendrick noted that its current valuation looks "richly priced" versus ether on all backward-looking measures.

Persons: solana, Donald Trump, Geoffrey Kendrick, Trump, Kamala Harris, Solana, Harris, Kendrick Organizations: Chartered, Democratic, Trump, solana, solana ETF, ETH, BTC Locations: solana, Solana

☆ Meet SpaceHopper, a three-legged hopping asteroid explorer
▼ + stars: | 2024-10-03 | by ( Amy Gunia | ) edition.cnn.com time to read: +4 min

That includes SpaceHopper, a three-legged robot designed for exploring microgravity environments, like the surface of asteroids. Developed by university students at ETH Zurich, in Switzerland, it bends its legs to propel itself off the ground. “But we can build robots that could do this task for us.”ETH Zurich student Valerio Schelbert holds SpaceHopper. A three-legged hopping robot that can reorient itself in zero gravity is “a completely new idea,” said Florian Kehl, a lecturer in the Department of Earth and Planetary Sciences of ETH Zurich. The team behind LunarLeaper, including ETH Zurich academics, hope to use it to explore a pit thought to be connected to a subsurface hollow lava tube.

Persons: Valerio Schelbert, Andrew Waller, ”, Florian Kehl, SpaceHopper, CNN “ Organizations: CNN, Apollo, Earth’s, ETH Zurich, SpaceHopper, ” ETH Zurich, Department of, Planetary Sciences, European Space Agency, ESA, Tech Locations: Switzerland, California, Japan, Germany, France

☆ Switzerland-Italy border to partly shift as glaciers melt
▼ + stars: | 2024-10-01 | by ( Laura Paddison | ) edition.cnn.com time to read: +2 min

While national boundaries are often thought of as fixed, large sections of the Swiss-Italian border are defined by glaciers and snow fields. “With the melting of the glaciers, these natural elements evolve and redefine the national border,” the Swiss government said in a statement Friday. The country’s glaciers lost 4% of their volume last year, second only to the record-setting 6% lost in 2022. “Some glaciers are literally falling apart, small glaciers are disappearing.”Even with the most ambitious climate action, up to half the world’s glaciers may be gone by 2100. The shifting of national borders “is one small side-effect” of glaciers melting, Huss said.

Persons: Matthias Huss, GLAMOS, ”, Huss Organizations: CNN, Swiss, ETH Zürich Locations: Italy, Switzerland, Zermatt, Swiss, Europe, Italian, “

☆ Bitcoin tumbles back to the $60,000 level as tensions in the Middle East heighten
▼ + stars: | 2024-10-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Around 4:45 p.m. Eastern time, bitcoin slid to as low as $60,175. Crypto exchange Coinbase dropped about 1% and bitcoin proxy MicroStrategy lost 2%, after closing lower by 7.4% and 3.5%, respectively. Stock Chart Icon Stock chart icon Crypto assets tumble to start October and the fourth quarterRising tensions in the Middle East dampened investors' risk appetite as the new trading month and quarter began. "Surging unrest across the Middle East has propelled oil prices upward and reinforced the dollar's strength, casting a shadow over bitcoin and other speculative investments," said Chris Kline, chief operating officer and co-founder of Bitcoin IRA. "Meanwhile, a global monetary tug-of-war is unfolding as various central banks slash interest rates and expand their money supplies."

Persons: Jonathan Raa, Cryptocurrencies, bitcoin, Coinbase, MicroStrategy, Hassan Nasrallah, Chris Kline Organizations: Nurphoto, Getty, bitcoin, Metrics, International Longshoremen's Association, Gulf Coasts Locations: Iran, Israel, Iranian, Lebanon

☆ Mark Cuban slams Trump's new silver coins as a bitcoin betrayal and an attempt to profit from his supporters
▼ + stars: | 2024-09-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

In an X post On Saturday, the tech billionaire shared the Republican presidential candidate's promotional video for Official Trump Coins, in which Trump hailed them as a "true symbol of American greatness." "He is selling the silver coins as a collectible that could increase in value …. He also suggested Trump's endorsement of the coins means he can't be trusted as a business partner or investor. Cuban asked on X.AdvertisementHe continued: "Would you tell ANYONE you know to get business or investment advice from a person selling these coins?" Cuban has repeatedly criticized Trump in recent weeks while championing Vice President Kamala Harris, Trump's rival in this year's presidential race.

Persons: —, Cuban, Donald Trump, he's, Trump, Warren Buffett, They're, Trump's, Kamala Harris, He's, Trump Organization didn't Organizations: Service, Republican, Trump, Business, btc, Maxis, Dallas Mavericks, White, JBCZ Group, CIC Digital, CIC Ventures, CIC, Trump Organization Locations: bitcoin

☆ Tourists are rushing to see glaciers before they disappear, but trips are turning deadly
▼ + stars: | 2024-09-21 | by ( Laura Paddison | ) edition.cnn.com time to read: +7 min

The three people who lost their lives in Alaska are just a few of those who have died on trips to see the world’s fast-disappearing glaciers. But there’s also another motivation increasingly present — the desire to see the glaciers before they disappear. In Alaska, Sheldon used to be able to find a good area for ice climbing for the whole summer. Many are convinced danger is manageable, he told CNN, but “if you’re honest about it, that might often be a rather naive understanding.”As well the safety issues glaciers pose tourists, tourists are also a huge risk to the glaciers themselves. As the glaciers shift, so too will glacier tourism, something that’s starkly clear to Sheldon.

Persons: Zach Sheldon, Sheldon, Byron, Colin D ., there’s, It’s, Jackie Dawson, ”, Hrafn Sigurjonsson, Sven, Erik Arndt, Arterra, Dawson, Matthias Huss, Huss, “, Passo Sella, Emmanuele, Stefan Gössling, ” Gössling, what’s Organizations: CNN, Alaska Guide Company, Austrian, University of Ottawa, Association of, Association of Iceland Mountain Guides, Companies, Worthington, ETH Zürich, Linnaeus University Locations: Alaska, Valdez Lake, Portage, Chugach, Forest , Alaska, Association of Iceland, American, Iceland, An American, Valdez, Italy, Swiss, Passo, Val Gardena, Sweden, New York, Anchorage

☆ Students and startups are building the next generation of space exploration technology
▼ + stars: | 2024-09-12 | by ( Amy Gunia | Woojin Lee | ) edition.cnn.com time to read: +2 min

Editor’s Note: Tech for Good is a series that highlights young innovators developing technology to improve our world. Cast your vote below to help us decide what projects to feature in a special episode of the show, airing in November. Today, private companies dominate space launches and tourism, but entrepreneurs across the world are working on technology to make space exploration cheaper, more sustainable, and more efficient. On campuses and in classrooms everywhere, students are working on ideas that could seed a new generation of startups. Innovation like this could be crucial to continue the revolution that’s gripped the space industry in recent decades.

Persons: Phil McAlister, McAlister, “, “ They’re, ” Organizations: Hong Kong CNN, SpaceX, Companies, CNN, Tech, ETH Zurich, Polytechnique Locations: Hong Kong, Switzerland, Japan, Canada

☆ Ether has been dramatically underperforming bitcoin as the investment case for the cryptocurrency weakens
▼ + stars: | 2024-09-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Ether, the second largest cryptocurrency by market cap, is nearly 50% off its all-time high. The ETH/BTC ratio, a sentiment indicator reflecting the relative value of ether compared with bitcoin, is at its lowest level since April 2021. "Bitcoin has a very well established use case, which is a store-of-value currency," said Julio Moreno, head of research at CryptoQuant. Some investors had hoped ether could compete with bitcoin, whose rate of supply growth slows every four years after the halving. However, ether supply has been rising at a fast pace this year, and is on track to resume its pre-Merge levels in the next three months, according to CryptoQuant.

Persons: Ethereum, bitcoin's, hasn't, David Duong, Mike Colonnese, Wainwright, Julio Moreno, Vitalik Buterin, Duong, — CNBC's Michael Bloom Organizations: ETH, BTC, H.C, Citi, Lightning, Coinbase's Locations: Solana

☆ Apheros helps data centers cool down. Check out the pitch deck it used to secure $1.85 million.
▼ + stars: | 2024-08-19 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +1 min

Apheros has secured $1.85 million in pre-seed funding for its data center cooling technology. Check out the pitch deck it used to secure the fresh funding. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA startup that helps data centers to cool down has just secured $1.85 million in pre-seed funding.

Persons: Apheros, — Organizations: Service, ETH Zurich, Business Locations: Zurich

☆ Meet the DNA-collecting robot fish developed by students in Switzerland
▼ + stars: | 2024-08-12 | by ( Amy Gunia | Alkira Reinfrank | ) edition.cnn.com time to read: +3 min

The student-led group has spent the past two years building a school of soft robotic fish – of which Eve is the latest. A robot fish designed and developed by students at ETH Zurich SURF eDNAEve’s ability to camouflage itself as a fish isn’t its only utility. The students hope that Eve will be able to give scientists a more detailed picture of the oceans and their inhabitants. A robot fish developed by students at ETH Zurich. “Maybe we can prevent species from being endangered or dying out.”Want to learn more about Eve the robot fish?

Persons: Eve, eDNA, Dennis Baumann, eDNA Eve’s, ”, Martina Lüthi, Baumann Organizations: CNN, Switzerland’s ETH, ETH Zurich, Tech Locations: Switzerland’s ETH Zurich, California

☆ Reddit cofounder reveals his best-ever investment — and his biggest flops
▼ + stars: | 2024-08-12 | by ( Jaures Yip | ) www.businessinsider.com time to read: +1 min

Alexis Ohanian said his early investment in Ethereum's pre-token sale is now worth $17.1 million. The Reddit cofounder called it his best-ever investment. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! In a podcast interview with venture capitalist Harry Stebbings, the Reddit cofounder said that he made millions from investing early in Ethereum.

Persons: Alexis Ohanian, Ohanian, —, Harry Stebbings Organizations: Service, Business Locations: Ethereum's, Zenefits, Ethereum

☆ Bitcoin nears $70,000 as investors digest Trump crypto comments and look ahead to central bank meetings
▼ + stars: | 2024-07-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Investors are coming back into the market after bitcoin ended last week flat and ether dropped roughly 8%. Additionally, traders are watching the Federal Reserve, Bank of Japan and the Bank of England – all of which are meeting this week. Eyes are on Fed Chair Jerome Powell in particular, hoping his comments will confirm an interest rate cut in September. He also said it would be his policy to keep 100% of the bitcoin the U.S. government currently holds (about 210,000 bitcoins), serving as the beginning of a National Strategic Bitcoin Reserve. In remarks that garnered the biggest roar from the audience, Trump vowed that he would replace Gensler "on day one."

Persons: Bitcoin, bitcoin, Jerome Powell, Donald Trump, Sen, Elizabeth Warren, Gary Gensler, Biden, they've, Trump, Cynthia Lummis Organizations: Getty, Metrics, Federal Reserve, Bank of Japan, Bank of England, Bitcoin Conference, Democratic, Securities, Exchange, Trump, Strategic Bitcoin, Republican Locations: Nashville, Wyoming

☆ Ukraine's IT army is a 'world first' in cyberwarfare — but it's a major gamble for the government, experts say
▼ + stars: | 2024-07-27 | by ( Cameron Manley | ) www.businessinsider.com time to read: +7 min

AdvertisementIn Russia, however, "they have the expertise but not necessarily the service providers who sit in front of organisations to detect and deflect DDoS attacks," Woodward added. AdvertisementSuch attacks may also help "support defensive movements of the Ukrainian army," said Vasileios Karagiannopoulos, an associate professor in cybercrime and cybersecurity at the University of Portsmouth. Advertisement"The IT Army is managed by the SBU and the Ukrainian MoD," Soesanto said, adding that they receive support from Ukraine's Ministry of Digital Transformation. Ted told BI that "the MoD does not run the IT army, but there is collaboration to ensure efforts are synchronized." Ukraine's Ministry of Defense did not respond to a request for comment from BI on the nature of its relationship with the IT army.

Persons: —, Mykhailo Fedorov, Ukraine's, Eager, Ted, Ted said, Alan Woodward, Woodward, Ukraine's cyberdefense, Stefan Soesanto, Vasileios Karagiannopoulos, Karagiannopoulos, Soesanto Organizations: Service, Business, Transformation Ministry, IT Army, Surrey Centre, Cyber Security, University of Surrey, Visa, Mastercard, Center for Security Studies, ETH Zurich, Kommersant, University of Portsmouth, country's Ministry of Defense, Ukrainian MoD, Ukraine's Ministry of Digital, MoD, Ukraine's Ministry of Defense Locations: Russia, Ukraine, Ukraine's, cybercrime, Ukrainian

☆ Cryptocurrencies rebound with risk assets, but ether still lower for the week
▼ + stars: | 2024-07-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

In this article ETH.CM=BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTDado Ruvic | ReutersCrypto prices rose on Friday following two down days in which investors rotated out of risk assets. Bitcoin was last higher by 4.5% at $67,720.83, according to Coin Metrics, and ether advanced 4% to $3,248.25. In equities, the tech-heavy Nasdaq Composite and the broad-market S&P 500 — which suffered their worst single trading day since 2022 this week — rallied. Many expect favorable crypto comments from Trump — who in recent weeks has painted himself as the pro-crypto candidate in this year's election — could boost prices in coming days. Still, bitcoin is little changed for the week, while ether is on pace to end the week with an 8% loss.

Persons: Dado Ruvic, Bitcoin, —, MicroStrategy, Donald Trump, Trump Organizations: Reuters, Metrics, Nasdaq, Federal, Bitcoin Conference, Trump — Locations: Nashville

☆ Cryptocurrencies suffer alongside tech stock rout, ether slides 6%
▼ + stars: | 2024-07-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Cryptocurrencies fell one day after a reversal in technology stocks pushed the S&P 500 and Nasdaq Composite to their worst day since 2022. Disappointing quarterly earnings from from Alphabet and Tesla late Tuesday weighed on the rest of the tech sector as investors rotated out of high-risk assets, including cryptocurrencies. Gox repayment schedule that has resulted in a persistent round of bitcoin selling pressure this month, he added. Meanwhile, ether fell 6% to $3,172.59 as newly-launched ether exchange-trade funds traded for a third day. "What is happening is the same as when spot bitcoin ETFs were launched back in January," said Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank.

Persons: Cryptocurrencies, Bitcoin, Joel Kruger, Yuya Hasegawa, bitcoin Organizations: Nasdaq, Metrics, LMAX, ETH Locations: outflows

☆ Ether dips below $3,400 on second day of U.S. spot ETH ETF trading: CNBC Crypto World
▼ + stars: | 2024-07-24 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther dips below $3,400 on second day of U.S. spot ETH ETF trading: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Andy Baehr, head of product at CoinDesk Indices, weighs in on the potential impact of the U.S. launch of spot ETH ETFs on crypto prices.

Persons: explainers, Andy Baehr Organizations: CNBC Crypto, CNBC Locations: U.S

☆ Grayscale's $9 billion head start in ethereum is at risk as big investors launch ETFs
▼ + stars: | 2024-07-24 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

With the SEC clearing the path for ETFs, Grayscale will have a boatload of rivals, and investors can go hunting for the lowest fees. Large financial firms, including Fidelity Investments, Franklin Templeton, BlackRock and Invesco, are already on the market with their own spot ether ETFs. In their first day of trading on Tuesday, spot ether ETFs collectively saw over $1 billion in volume, with JPMorgan analysts estimating net sales of $104 million. While money poured into the new offerings, the Grayscale Ethereum Trust (ETHE) saw redemptions of $485 million. watch nowIn the bitcoin ETF market, Grayscale has been struggling to handle the flood of competition.

Persons: Jakub Porzycki, Barry Silbert's, Franklin Templeton, Morningstar's Bryan Armour, Grayscale's David LaValle, LaValle Organizations: Nurphoto, U.S, Digital Currency Group, SEC, Fidelity Investments, BlackRock, JPMorgan, CNBC Locations: Invesco, U.S

☆ Spot ether ETFs are set to trade Tuesday. Here’s what it means for the Ethereum blockchain
▼ + stars: | 2024-07-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

There are already ether ETFs that track futures contracts, but these are the first to track spot ether. Spot ether ETF applications Grayscale Ethereum Mini Trust (ETH)Grayscale Ethereum Trust (ETHE)Bitwise Ethereum (ETHW)VanEck Ethereum (ETHV)21Shares Core Ethereum (CETH)Invesco Galaxy Ethereum (QETH)Fidelity Ethereum (FETH)Franklin Ethereum (EZET)iShares Ethereum Trust (ETHA) Like the spot bitcoin ETFs that launched in January, most are waiving fees initially — in many cases for up to a year. By the standards of ETF launches, spot bitcoin ETFs have been a success: They recently topped $17 billion in net flows year to date since their debut. Bitcoin prices rose going into the launch of spot bitcoin ETFs. (Ether is the cryptocurrency used in the Ethereum network, but in practice the terms Ethereum and ether are often used interchangeably.)

Persons: Bitwise, VanEck, Franklin Ethereum, iShares, bitcoin, Ben Johnson, Morningstar's, Matt Hougan, Johnson, Morningstar Organizations: Nurphoto, Fidelity, U.S . Securities, Exchange, SEC Locations: Washington

☆ Cryptocurrencies fall on day 1 of ether ETFs as Mt. Gox moves more bitcoin to creditors
▼ + stars: | 2024-07-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin led the crypto market lower on Tuesday – the first trading day for ether ETFs – as Mt. Gox transferred more bitcoin to creditors and investors took profits following the cryptocurrency's best week since March. The market is expected to absorb the negative impact, thanks to long-term optimism on the success of ether ETFs as well as the U.S. presidential election. "Part of that is the bitcoin ETF adoption is in the early innings – a lot of the largest pools of money for that ETF have not even been turned on yet," he added. He pointed to the launch of bitcoin ETFs in January, when bitcoin surged to a record before plummeting 20% and then advanced to another new high.

Persons: bitcoin, Bitcoin, Gox, Devin Ryan, Nexo, Antoni Trenchev, Ben Kurland, Joe Biden, Kamala, Harris, Trenchev, Kamala Harris, Donald Trump Organizations: Metrics, U.S, JMP Securities, ETH Locations: Gox

☆ Ether ETFs appear set to launch on Tuesday, six months after massive debut for bitcoin funds
▼ + stars: | 2024-07-22 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The U.S. Securities and Exchange Commission appears to have given the green light for exchange-traded funds that hold ether , the world's second-largest cryptocurrency. It approved rule changes for exchanges to list ether funds in May. Some of the companies that have been vying to launch ether funds include massive asset managers such as BlackRock, Fidelity and VanEck. The ether ETFs come about six months after the launch of bitcoin ETFs, which saw some of the most successful debuts in the industry's history. The ether funds are not expected to be as popular as the bitcoin funds, in part because the total market for ether is roughly one-fourth the size of the leading cryptocurrencies.

Persons: Matt Hougan, doesn't, Hougan Organizations: U.S . Securities, Exchange Commission, SEC, Fidelity, VanEck, Trust, ETF, Bitwise Locations: BlackRock, U.S

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