{"id":27951,"date":"2024-01-11T10:29:33","date_gmt":"2024-01-11T09:29:33","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=27951"},"modified":"2024-01-11T10:29:33","modified_gmt":"2024-01-11T09:29:33","slug":"its-done","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/its-done\/","title":{"rendered":"It’s done"},"content":{"rendered":"

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11.01.2024 – Now it’s really done: the US Securities and Exchange Commission (SEC) has granted approval for the authorisation of spot-based index funds for Bitcoin. And how is BTCUSD reacting? Not at all. The music is playing on Ether.
\n<\/strong><\/p>\n

Milestone, revolution, turning point, breakthrough – the financial media are overflowing with superlatives in their assessment of the authorisation. And Bitcoin? It’s not really getting anywhere, as shown in the four-hour chart.<\/p>\n

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

 <\/p>\n

Yet even the rather conservative “Wirtschaftswoche” has just gone out on a limb in its online version: “A lot of money should soon be flowing into the sector – and the Bitcoin price should continue to rise.” In view of so much optimism, the question arises as to whether all the bulls are already in the market. And whether perhaps, perhaps there will be a countermovement first.<\/p>\n

The SEC remains sceptical<\/strong>
\nThe question now is also whether fresh money will flow from conservative savers to large fund companies that they trust. Or whether investors who hold Bitcoin directly will prefer to put their money in an index fund because they assume that these will be better able to deal with the regulatory authorities in the event of repression.
\nPerhaps the market’s muted reaction is also due to the rather lukewarm approval of the Securities and Exchange Commission. Their verdict was quite close at 3:2. And SEC Chairman Gary Gensler once again confirmed himself as an enemy of cryptos, which could point to new problems for investors. Specifically, he stated that the SEC does not approve of digital assets with its authorisation and does not recommend them: “Investors should remain cautious about the myriad risks associated with Bitcoin and products whose value is tied to crypto.”
\nAccordingly, star investor Cathie Wood was rather disgruntled by Gensler’s statement immediately after the announcement of the authorisation for around a dozen funds that are allowed to start trading with immediate effect. “He just denigrated the whole crypto space. I couldn’t believe it,” Wood said in an interview with Bloomberg Radio. “This is part for the course in disruptive innovation.”<\/p>\n

Ether is taking off<\/strong>
\nHowever, the bullish investor community has long since moved on. And it pays homage to Ether. Its little brother is set to be authorised as a spot ETF in May. Now the party is on, here is the four-hour chart.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

We hope you had the right instinct – and we will of course continue to keep an eye on the situation with e-currencies. Bernstein Bank wishes you 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":"

11.01.2024 – Now it’s really done: the US Securities and Exchange Commission (SEC) has granted approval for the authorisation of spot-based index funds for Bitcoin. And how is BTCUSD reacting?…<\/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-27951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nIt's done | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Now it's really done: the US Securities and Exchange Commission (SEC) has granted approval for the authorisation of spot-based index funds for Bitcoin. And how is BTCUSD reacting? Not at all. 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