{"id":27827,"date":"2024-01-03T09:10:27","date_gmt":"2024-01-03T08:10:27","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=27827"},"modified":"2024-01-03T09:10:27","modified_gmt":"2024-01-03T08:10:27","slug":"outlook-24-the-secs-crypto-verdict","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/outlook-24-the-secs-crypto-verdict\/","title":{"rendered":"Outlook 24: The SEC’s crypto verdict"},"content":{"rendered":"

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03.01.2024 – Here we go: the authorisation of spot index funds for e-currencies is probably imminent. The bulls are scurrying about – one investor is hoping for a gigantic wave of capital totalling 30 trillion dollars. Others are more cautious.
\n<\/strong><\/p>\n

Traders, listen to the signals: if what some augurs believe is true, then the first spot ETFs will be authorised in the next few days. The two journalists James Seyffart and Eric Balchunas, both from Bloomberg, recently considered it possible that the Securities and Exchange Commission (SEC) will make a decision on Bitcoin funds as early as 10 January. A statement on ether funds will not be made until May. This means we could see a mega rally in BTC, here is the weekly chart.<\/p>\n

 <\/p>\n

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Quelle: Bernstein Bank GmbH<\/p><\/div>\n

However, there will also be traders who sell in the middle of the wave. Star investor Cathie Wood from ARK Invest recently warned of just such a “sell the news”. We believe that all those who fanned the flames recently could go short.<\/p>\n

30 trillion or just 2.4 billion?<\/strong>
\nMichael Sonnenshein, for example, head of Grayscale Investments. He said a few weeks ago on CNBC that he expected “$30 trillion worth of advised wealth” to pour into the market. In other words, 30 trillion dollars.
\nIt can also be a number smaller: “CoinTelegraph” reported, citing unnamed experts, that new ETFs could eclipse the current total market of around 50 billion dollars in crypto-based products. These are currently mainly ETPs – exchange-traded products, i.e. funds that are mostly based on futures.
\nFund manager Van Eck even assumes that the authorisation of spot ETFs will only bring around 2.4 billion dollars into the market. We are curious.<\/p>\n

Deadline 29 December<\/strong>
\nThe fact is: according to press reports, 14 fund providers want to offer spot BTC ETFs in the future. At Christmas, Fox Business News and Reuters reported that the SEC had set a deadline of 29 December for the fund companies to complete Annex S-1 in their application for approval. This concerns the mode of payment in cash and the obligation to name all parties involved in deals.
\nAccording to the Reuters report, the SEC last met with managers from at least seven investment companies on 21 December, including ARK Invest, Grayscale, Blackrock and 21 Shares. Representatives of Nasdaq and the Chicago Board Options Exchange are also said to have been present.
\nThe upshot of all this is that things are getting exciting for cyber currencies. We will keep you up to date on developments!<\/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":"

03.01.2024 – Here we go: the authorisation of spot index funds for e-currencies is probably imminent. The bulls are scurrying about – one investor is hoping for a gigantic wave…<\/p>\n","protected":false},"author":41,"featured_media":27831,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-27827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nOutlook 24: The SEC's crypto verdict | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Shockwaves threaten the financial market in the coming year. 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