BTCUSD is in the process of forming an ascending triangle. The resistance lies at around 44,400 dollars – we are curious to see whether it will be broken soon. The picture shows the daily chart.<\/p>\n
![\"\"](\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2023\/12\/btcusd2023122.png\")
Quelle: Bernstein Bank GmbH<\/p><\/div>\n
We have already discussed this topic: The crypto community is eagerly awaiting the authorisation of index funds. These are exchange-traded funds that invest directly in the spot market. This would enable the previously frowned upon cryptocurrencies to rise to the financial aristocracy and flush a lot of capital into the market. Now there are new indications that the previously closed doors will soon open.<\/p>\n
Second meeting between Blackrock and the SEC<\/strong>
\nAccording to a report in CoinDesk, representatives of the investment giant Blackrock, Nasdaq and the Securities and Exchange Commission (SEC) have met for the second time in a month. According to a memo published by the website, the rules necessary for the authorisation of an ETF were discussed. Specifically, the memo stated: “The discussion concerned The NASDAQ Stock Market LLC’s proposed rule change to list and trade shares of the iShares Bitcoin Trust under Nasdaq Rule 5711(d).”
\nRule 5711(d) sets forth the guidelines that apply to commodity-based ETFs as well as the requirements for compliance and the defence against fraud. The SEC is also concerned with the prevention of market manipulation, the website had previously reported. In this second meeting, Blackrock changed its application, particularly with regard to cash purchases, in order to address the SEC’s fears.<\/p>\nIt will be exciting from 08 January<\/strong>
\nAccording to the well-connected financial journalist Charles Gasparino from Fox Business News, there is already speculation in the market about a decision by the SEC immediately after 8 January. It is possible that the stock exchange supervisory authority, which also fears money laundering, could install a safety net in the event of authorisation. For example, the obligation to buy tokens using the “in-cash” method: this would make the origin of the underlying more transparent – it would be clear where the fund obtains its shares from, and most traders would presumably only buy from reputable exchanges. However, the method would incur higher costs than “In-Kind” – where the underlying is traded directly against fund shares. Nevertheless, the boost to share prices would be enormous.
\nUltra-bull Michael Saylor, CEO of MicroStrategy, recently said on Bloomberg TV that the approval of Bitcoin ETFs was the biggest development on Wall Street in the past 30 years – it could trigger a bull run in the coming year because the increase in demand would lead to a supply shock.
\nWith this in mind, keep an eye on the real-time news over the festive period. We wish you a Merry Christmas and successful trades and investments!<\/p>\n________________________________________________________________________________________________________________________________________<\/p>\n
The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice. <\/small>CFDs are complex instruments and are associated with the high risk of losing money quickly because of the leverage effect. 68% of retail investor accounts lose money trading CFD with this provider. You should consider whether you understand how CFD work and whether you can afford to take the high risk of losing your money.7<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"
22.12.2023 \u2013\u00a0 While the stock market players are gradually getting ready for Christmas goose and red wine, the crypto bulls can hardly be tamed. Because it looks like Bitcoin, Ether…<\/p>\n","protected":false},"author":41,"featured_media":27777,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-27773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n
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<\/p>\n