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The SEC has extended its review period for Bitwise's application to list the Bitwise 10 Crypto Index ETF on NYSE Arca, with a new decision deadline set for March 3, 2025. The fund, which tracks the top ten crypto assets including Bitcoin and Ethereum, currently trades on the OTCQX Best Market. Bitwise's CEO emphasizes the potential benefits of the ETF format, while the SEC remains cautious, focusing on issues like market manipulation and investor protections.
Bitwise CIO Matt Hougan predicts a significant increase in corporate Bitcoin purchases over the next 12 to 18 months, driven by new accounting standards that make Bitcoin more appealing for balance sheets. While MicroStrategy leads with over 257,000 BTC acquired, 70 public firms, including Tesla and Coinbase, already hold 141,302 BTC, with private entities like SpaceX holding an additional 368,043 BTC. This trend is fueled by reduced reputational risks and motivations such as financial gain and currency protection, as Bitcoin's price rebounds to $95.5K.
In a recent memo, Bitwise CIO Matt Hougan predicts that hundreds of companies will adopt Bitcoin for their treasuries within the next 12-18 months, significantly impacting the market. He highlights that 70 publicly traded companies already hold Bitcoin, with MicroStrategy's acquisitions surpassing last year's mined supply. Favorable reputational shifts and new accounting guidelines are expected to drive this corporate adoption, potentially leading to a substantial increase in Bitcoin's price.
A recent survey by Bitwise reveals a significant increase in cryptocurrency interest among U.S. financial advisors following Donald Trump's election. 56% of respondents are now more inclined to invest in crypto, with digital asset allocations doubling year-over-year to an all-time high of 22%. Despite challenges in accessing crypto for client accounts, regulatory concerns have eased, with 50% citing it as a top obstacle, down from previous years.
Investor confidence in Ethereum is rising, with whales accumulating the cryptocurrency and non-exchange wallet balances increasing by 25,000 tokens. Analyst Ali Martinez predicts a potential surge to $7,000 if prices drop to $2,900, supported by a bullish inverted head-and-shoulders pattern. Additionally, exchange-held Ether supply has decreased, reinforcing the optimistic outlook for Ethereum's future.
The first year of US spot Bitcoin ETFs has surpassed expectations, attracting $44.2 billion in inflows and marking the best-performing ETF launch ever. Analysts attribute this success to strong institutional demand, favorable market conditions, and the SEC's approval, which alleviated regulatory concerns. Looking ahead, industry experts anticipate continued growth in 2025 as more investors gain access to these products.
A recent survey reveals that 56% of US financial advisors plan to invest in cryptocurrency in 2025, driven by increased client inquiries and easing regulatory concerns. While 22% allocated client funds to crypto in 2024, access remains limited, with only 35% able to make purchases directly. The growing interest in digital currency equities ETFs reflects a shift in sentiment, as advisors adapt to the evolving landscape of crypto investments.
The UK Treasury has confirmed that crypto staking will not be classified as a collective investment scheme, following an amendment to the Financial Services and Markets Act 2000. This clarification, effective from January 31, distinguishes staking from traditional investment models, promoting innovation while reducing legal uncertainty in the crypto sector.Meanwhile, a survey reveals that only 35% of financial advisors can invest in crypto for clients, despite a growing interest in digital assets. While crypto allocations have doubled year-over-year, many clients are investing independently, highlighting ongoing access challenges for advisors.
A Bitwise survey reveals that 56% of US financial advisers are more inclined to invest in crypto following Donald Trump's election victory, anticipating a more crypto-friendly environment. While 99% of current crypto investors plan to maintain or increase their exposure, access remains a significant barrier, with only 35% able to buy crypto for client accounts. Additionally, Bitcoin reserves held by US entities have reached an all-time high, surpassing those held offshore by 65%.
Matt Hougan
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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