Hashbx Global, London (2026)

03/07/2023

Probability for U.S. Approval of a Spot Bitcoin ETF Is Fairly High: Bernstein
The lack of a spot ETF leads to the growth of over-the-counter products like the Grayscale Bitcoin Trust, which are more expensive, illiquid and inefficient, the report said.

The U.S. Securities and Exchange Commission’s (SEC) stance on spot bitcoin (BTC) exchange-traded-funds (ETF) is a difficult one to hold, and the probability for approval is fairly high, brokerage firm Bernstein said in a research report Monday.
Bernstein notes that the SEC had already allowed futures based bitcoin ETFs, and recently approved leverage based futures ETFs on the premise that futures pricing comes from a regulated exchange like the CME.
According to analysts led by Gautam Chhugani, the SEC believes that a bitcoin spot ETF would not be dependable because the “spot exchanges (e.g. Coinbase) are not under its regulation, and thus spot prices are not reliable and prone to manipulation.”

Cr.https://www.coindesk.com/
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30/06/2023

U.S. Investors Are Driving Bitcoin’s Price Surge as Institutional Demand Rises
BTC price gains and trading activity have mostly concentrated during U.S. market hours, according to K33 Research.

U.S. investors have been piling into bitcoin (BTC) as institutional activity accelerated, driving the recent rally of the largest cryptocurrency by market capitalization.
BTC’s price gains and trading volume have concentrated during U.S. market hours recently, and have been the main force behind BTC’s strength, crypto analytics firm K33 Research noted in a report.
Bitcoin has surged 85% so far this year, per CoinDesk data, outperforming most of the crypto market. The price action has come as a slew of financial heavyweights, including BlackRock, Fidelity and Citadel, have become more involved with BTC, spurring investor optimism.

Cr.https://www.coindesk.com/
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27/06/2023

Whale Drives Ether-Bitcoin Volatility Spread Lower Ahead of Options Expiry
The spread has flipped negative with consistent institutional selling of ether calls. Some of these positions could be rolled over ahead of Friday's expiry, leading to captivating shifts in volatility, crypto exchange Deribit said.

Options contracts tied to ether (ETH) worth $2.3 billion are set to expire on dominant crypto derivatives exchange Deribit this Friday.
Ahead of the pivotal quarterly settlement, the market is witnessing a low spread between Deribit's forward-looking 30-day implied volatility index for ether (ETH DVOL) and bitcoin (BTC DVOL).
According to Deribit, the negative spread indicating relative ether stability results from an increased institutional interest in "overwriting" or selling ether call options. The dynamic has set the stage for major market shifts around Friday's expiry.

Cr.https://www.coindesk.com/
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25/06/2023

Will BlackRock's Bitcoin ETF Take the Spirit Out of the Honey Badger?
Financial advisors will want a simple story to tell.

What is Bitcoin for?
With a raft of recent announcements from big-name financial firms offering bitcoin (BTC) products, institutionalization of the biggest, most significant cryptocurrency looms. That will give urgency to this perennial, still unresolved question about its purpose.

Or is it best thought of with a more open-ended mindset, viewing it as an unstoppable record-keeping platform onto which users can inscribe a wide range of valuable content? (The Taproot Wizards’ perspective.)

Cr.https://www.coindesk.com/
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24/06/2023

Leveraged Bitcoin Futures ETF to Start Trading Tuesday, Sponsor Says
Volatility Shares says its 2x leveraged bitcoin futures exchange-traded fund will be based on CME Bitcoin Futures prices.

Volatility Shares’ 2x Bitcoin Strategy ETF (BITX) will become the first leveraged crypto ETF available in the United States after the U.S. Securities and Exchange Commission (SEC) let it go effective on Friday, an executive at the company told CoinDesk.
The regulator has not denied the application for the 2x ETF, Volatility Shares Chief Investment Officer Stuart Barton said, paving the way for its launch this upcoming Tuesday.
“It’s exciting to see digital assets in the ETF wrapper,” Barton said.

A leveraged 2x ETF allows customers to gain bitcoin exposure by only putting up half the value of the bitcoin.
A prospectus filing said the ETF would correspond with the CME Bitcoin Futures Daily Roll Index.
This comes in the wake up of bitcoin’s value steadily rising past $30,000 after multiple major traditional investment companies like BlackRock filed an application for spot bitcoin ETFs with the SEC.

Cr.https://www.coindesk.com/
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17/06/2023

BlackRock Bitcoin ETF Is the ‘Real Deal’—Is This Finally the One?
For 10 years, crypto startup after crypto startup has tried its luck with the SEC. Now Wall Street’s heaviest hitter is lending its weight.

If you think something is out of the ordinary when one of the world’s most prestigious financial institutions applies for a cryptocurrency investment product during a tough regulatory crackdown, you wouldn’t be the only one.

BlackRock, which manages $9.5 trillion in assets, rocked the crypto world yesterday when it applied to the U.S. Securities and Exchange Commission for a Bitcoin exchange-traded fund (ETF). Though the product is technically a trust, as several eagle-eyed observers on Crypto Twitter have pointed out, it is functionally the same as a true blue ETF, experts say.

It’s the “real deal,” according to Senior ETF Analyst at Bloomberg Eric Balchunas, who defended the “ETF” label yesterday on Twitter. Balchunas also pointed out that BlackRock is nearly undefeated when going up against the SEC, at 575-1, with nearly every single one of its ETF applications receiving the Commission’s blessing. Other Bitcoin ETF applicants over the years can’t say the same.

Cr.https://decrypt.co/
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07/06/2023

Bitcoin drops below $26,000 after SEC sues crypto exchange Binance

Cryptocurrency prices dropped Monday after the U.S. Securities and Exchange Commission charged Binance, the largest crypto exchange in the world, with violating securities laws.

Bitcoin
fell 5.5% to $25,662.50, its lowest level since March, according to Coin Metrics.

Ether
slid 5.1% to $1,807.79. Binance Coin
, a token used to pay transaction and trading fees on the Binance exchange, tumbled 9.5%.

The declines came after the SEC alleged Binance and its co-founder, Changpeng Zhao, comingled billions of dollars of investor funds with their own and violated securities laws. The complaint follows a similar one against Binance from the Commodity Futures Trading Commission earlier this year.

“Binance is the largest cryptocurrency exchange by trading volume so it’s no surprise that the market is responding the way it is to the news,” Sam Callahan, lead analyst at bitcoin services company Swan Bitcoin, told CNBC. “Any regulatory action against a major player in the cryptocurrency space creates uncertainty and leads to increased market volatility in the short term.”

Cr.https://www.cnbc.com/
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06/06/2023

Bitcoin drops below $26,000 after SEC sues crypto exchange Binance

Cryptocurrency prices dropped Monday after the U.S. Securities and Exchange Commission charged Binance, the largest crypto exchange in the world, with violating securities laws.

Bitcoin
fell 5.5% to $25,662.50, its lowest level since March, according to Coin Metrics.

Ether
slid 5.1% to $1,807.79. Binance Coin
, a token used to pay transaction and trading fees on the Binance exchange, tumbled 9.5%.

The declines came after the SEC alleged Binance and its co-founder, Changpeng Zhao, comingled billions of dollars of investor funds with their own and violated securities laws. The complaint follows a similar one against Binance from the Commodity Futures Trading Commission earlier this year.

Cr.https://www.cnbc.com/
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05/06/2023

Bitcoin price chart flashes a bullish sign that could lead to breakouts in ADA, QNT, RNDR and RPL
BTC’s chart is beginning to look bullish, and ADA, QNT, RNDR and RPL could rally if Bitcoin price breaks out to the upside.

The United States equities markets welcomed the debt ceiling deal and the May nonfarm payrolls data on June 2 with strong rallies. The S&P 500 rose 1.8% during the week while the tech-heavy Nasdaq was up 2%. This was the sixth successive week of gains for the Nasdaq, the first such occasion since January 2020.

In addition to the above, the expectation that the Federal Reserve will be in a pause mode during its next meeting may have acted as a catalyst for the rally. CME’s FedWatch Tool is showing a 75% probability of a pause, with the remaining 25% expecting a 25 basis points hike at the June 14 meeting.

Cr.https://cointelegraph.com/
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23/05/2023

Bitcoin's Trading Range Narrows to Tightest in Months
Tighter price ranges result from markets running into competing influences. Eventually, some narratives take the back seat, paving the way for a volatility explosion.

The crypto market has become boring, with bitcoin (BTC), the world's biggest digital asset by market value, settling into the tightest price range for months despite lingering concerns about the stability of U.S. regional banks and the country's debt ceiling.
The range, or the difference between the high and the low reached in the seven days to May 21, was 3.4%. That's one of the narrowest in the past three years and comparable to lackluster trading seen at the start of the year, for a brief moment last month and in July 2020, according to data tracked by analytics firm Glassnode.
"It is comparable to Jan. 2023, and July 2020, both of which preceded large market moves. This suggests high volatility is likely on the horizon," Glassnode tweeted early Monday.

Cr.https://www.coindesk.com/
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22/05/2023

Bitcoin, Ethereum bears are back in control — Two derivative metrics suggest
Given the uncertainty in the macroeconomic environment, Bitcoin price bulls have no reason to bet against a six-week descending wedge pattern.

A bearish market structure has been pressuring cryptocurrencies’ prices for the past six weeks, driving the total market capitalization to its lowest level in two months at $1.13 trillion. According to two derivative metrics, crypto bulls will have a hard time to break the downtrend, even though analyzing a shorter timeframe provides a neutral view with Bitcoin

on average, gaining 0.3% between May 12 and May 19.

Cr.https://cointelegraph.com/
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17/05/2023

Lightning Labs launches rebranded ‘Taro’ amid Bitcoin’s BRC-20 bottleneck
Lightning Labs has unveiled a new solution to the clunky process of minting new assets on the Bitcoin network.

Bitcoin
BTC

tickers down
$27,059

users have been given a possibly more efficient way to mint new assets on the blockchain after an updated edition of the recently-rebranded Taproot Assets Protocol was released by Lightning Labs.

In a May 16 blog post, Lightning Network infrastructure firm Lighting Labs criticized the current methods by which assets are inscribed on the Bitcoin blockchain, calling them “particularly inefficient” and pointed to cumbersome protocols that write asset metadata “directly into block space.”

Cr.https://cointelegraph.com/
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