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South Korea’s Democratic Party Leader, Lee Jae-myung, has vowed to approve spot Bitcoin ETFs (exchange-traded funds) if elected president, as BlackRock’s IBIT ETF notches 16 straight days of net inflows.  Along with the promise to approve Bitcoin ETFs, Jae-myung also announced on May 6 that he would back other pro-crypto measures as part of a broader initiative to provide more investment opportunities for Korea’s youth ahead of the June 3 election. “I will create a safe investment environment so that young people can [build] assets and plan for the future,” Lee said in Korean, according to The Korea Economic Daily. Ruling Party Also Promises To Back Crypto Lee also said that he would legalize spot crypto ETFs, lower transaction fees and put more consumer protection measures in place.  Lee is the favorite to win the upcoming election with 42% support, according to a survey conducted by Korea’s National Barometer Survey. South Korea...

The SEC has officially approved options for BlackRock’s iShares Spot Bitcoin ETF. Options are contracts that grant the right to buy or sell an underlying asset at a certain price. The move is a major one for BlackRock’s clients that already participate in the iShares Bitcoin trust. JUST IN: SEC approves options for BlackRock's spot #Bitcoin ETF. — Watcher.Guru (@WatcherGuru) September 20, 2024 Options are critical for institutional adoption of Bitcoin, especially with the highly volatile crypto ETFs. Since their launch in January 2024, Bitcoin ETFs have performed extremely well, with BlackRock and Grayscale’s ETFs leading the pack. In March 2024, the success of Bitcoin ETF and large streams of inflows brought BTC to a new all-time high of $73,000. Options could also arrive for Spot Ethereum ETFs. Last month , Nasdaq and BlackRock filed to add options to their ETH fund. However, that deadline is much further away. If approval is granted, it wouldn’t be until Apr...

Grayscale continued efforts to list a spot BTC ETF built on its existing fund, which boasts a $25 billion market cap.  Grayscale Investments filed an updated S-3 Form with the United States Securities and Exchange Commission (SEC) to convert its Grayscale Bitcoin Trust (GBTC) product into a spot Bitcoin ETF.  This is Grayscale’s third amended submission towards its GBTC conversion , according to ETF expert James Seyffart. The firm previously filed a similar form following the departure of chairman Barry Silbert. Senior Bloomberg analyst Eric Balchunas noted that the SEC filing confirmed a pivot to cash-create subscriptions. Grayscale did not, however, disclose the Authorized Participants (APs) for its fund. The fee was also left out of this submission. The SEC will reportedly require issuers to disclose details on both before ETFs can be listed and open for trading. New Grayscale amendment just dropped. Clear language on cash only but still no AP named, just blanks where name s...

Bitcoin is above $42k as bullish sentiment around spot Bitcoin ETFs increases.  Will the outlook for BTC and top altcoins be replicated by privacy coins Monero and Zcash?  Could Memeinator outperform the two coins? Monero (XMR) and Zcash (ZEC) have lagged other top altcoins over the past several months, with XMR and ZEC up just 3% and 2% respectively over the last 30 days. The tokens were also trading lower on December 29 after a major exchange announced it will delist spot pairs for these privacy coins. Despite this, could the overall bullish sentiment across crypto ahead of a spot Bitcoin ETF approval by the SEC lift Monero and Zcash? Is the impending nod also a bullish catalyst for Memeinator (MMTR)? Here’s an outlook for each. Crypto outlook as market awaits spot Bitcoin ETF approval While the SEC has approved multiple futures and spot Bitcoin ETFs are already listed in other markets, its still a waiting game in the United States. Senti...

Crypto has shocked the world yet again, and as open interest heats up, it is clear that risk-on market participants will thrive in the coming two years. Speculative appetite is up, and following the Bitcoin (BTC) Spot ETF approval anticipation, a dramatic industry repricing will occur. According to many, anybody who bought a Solana (SOL) Saga, which recently sold out in the US, should HODL the phone! If Bonk (BONK) can 10X the Solana phones will be worth $7,000. But the real top crypto to buy now is Galaxy Fox ($GFOX), which heads for $2 million and promises one of the best price discovery phases of any token in 2024. Saga sales turnaround: a strange success story Saga, a mobile phone released by Solana, was the first piece of hardware created by a layer one blockchain. Although sales were dismal and founder Anatoly even backpedalled on the product, stating it was an experiment in a podcast, the enormous surge of $BONK has breathed new life into the market...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The year 2024 is shaping up to be a landmark period for the cryptocurrency market. Significant transformations are on the horizon for blockchain and digital currencies, which are expected to be pivotal in shaping their trajectory. A key trend for the next 12 months is the widespread acceptance of cryptocurrencies paired with increased regulatory measures. Let’s explore the additional shifts anticipated within the sector. You might also like: Blockchain developers must pull crypto out of its money laundering peril | Opinion Bitcoin to set a new price record Bitcoin (BTC) is on the cusp of potentially setting new price benchmarks in 2024. Predictions suggest that Bitcoin’s value could soar to $60,000 or even higher. Multiple factors contribute to this optimistic forecast. For instance, the upcoming Bitcoin halv...

Tom Lee of Fundstrat foresees a potential surge in Bitcoin’s value, particularly if the US approves spot Bitcoin ETFs, hinting at prices exceeding $150,000. In a recent CNBC interview, Tom Lee, co-founder of Fundstrat Global Advisors, predicted a potential surge in Bitcoin’s value, especially if spot Bitcoin exchange-traded funds (ETFs) receive US approval . Lee believes that if the US greenlights several spot Bitcoin ETF applications, Bitcoin’s demand could overtake its daily supply, possibly driving its price beyond $150,000. While spot Bitcoin ETFs are available in Europe, US approval could create a larger ripple effect due to the nation’s significant role in crypto-related ETF trading. This bullish outlook coincides with expectations surrounding Bitcoin’s next halving event in April 2024, which many predict will result in increased scarcity and a subsequent price hike. Regardless of the outcome of current ETF applications, Lee foresees a price r...

Jacobi Asset Management, a London-based asset investment platform, is ready to launch Europe’s first bitcoin exchange-traded fund (ETF) after a year of delays. The bitcoin ETF was originally announced to list on Euronext Amsterdam in July 2022 but was postponed due to the timing not being right in the market. Bitcoin ETF back on track in Europe The bitcoin ETF was initially approved by the Guernsey Financial Services Commission (GFSC) to launch in October 2021, granting it the ability to trade on traditional stock markets in jurisdictions outside of the United States. The asset manager’s launch announcement was delayed due to the terra (LUNA) crash in May 2022 and FTX’s collapse in November 2022. However, the fund is now on track to launch this July as demand has shifted. FT: Jacobi Asset Management announced that its bitcoin ETF will be list on Euronext Amsterdam this month and said that it is the Europe’s first bitcoin exchange traded fund (ETF). In practice, a...