Why Spot Bitcoin ETFs Took Forever — and Became Instant Hits
Spot Bitcoin ETFs are expected to attract many investors who had previously kept crypto at arm’s length.
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The Corporate Finance InstituteFinancial Modeling & Valuation Analyst
Spot Bitcoin ETFs are expected to attract many investors who had previously kept crypto at arm’s length.
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Bitcoin is notoriously volatile, prone to sudden price surges and swift reversals that can wipe out millions of dollars of value in minutes. Those changes are often mysterious to market observers, because of the digital currency’s lack of ties to the real economy. Bitcoin has another quirk, one that was built into the code that gave it birth: Every so often, the formula that governs the rate at which new tokens are created changes.
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KuCoin said it has become the first global crypto exchange to comply with India’s FIU. KuCoin said it will support local banks in India and other fiat entities and will invest in educating the market about the potential of crypto.
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“We lost 80% of the operating capital on FTX. We spent all this time building this protocol and it was like an on-the-ground knockout and [we] needed to be resuscitated back to life,” Armani Ferrante, co-founder of Backpack and the NFT collection Mad Lads, told TechCrunch.
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Has the cryptocurrency’s recent rebound piqued your interest? Here’s a primer for latecomers just now tuning in.
One minute Bitcoin’s price is up. The next it’s down. First Elon Musk loves it. Then he isn’t so sure. Some countries are embracing Bitcoin as legal tender. Others have some serious questions.
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The frenzy surrounding the launch of spot Bitcoin exchange-traded funds has yet to lose steam as Wall Street’s latest entrant offers supercharged versions of such products.
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