This year in crypto – Spot Bitcoin & Ethereum ETF approvals, ‘Trump pump,’ etc.
The post This year in crypto – Spot Bitcoin & Ethereum ETF approvals, ‘Trump pump,’ etc. appeared on BitcoinEthereumNews.com.
Bitcoin and Ethereum Spot ETFs were major catalysts for crypto prices and holders’ conviction Rising DeFi popularity might catch participants by surprise next year The past year has been highly eventful. From Bitcoin’s [BTC] halving to the Ethereum [ETH] Spot ETF approval, from the quantum computing threat to Bitcoin briefly seizing headlines, here are some of the year’s big highlights. This year in crypto The biggest development by far was the Bitcoin Spot ETF approval. This came after some false alarms caused massive BTC price volatility, such as the one from Cointelegraph in October 2023. On 10 January 2024, the U.S. Securities and Exchange Commission (SEC) announced the approval of Spot Bitcoin exchange traded products, or ETFs. Crypto Twitter went haywire, and investors were delirious at the idea of BTC being open to millions of mainstream investors. The emergence of BlackRock and Fidelity as two of the largest ETF funds was also a major boost to sentiment. They currently hold 550k and 200k BTC, respectively. From being a niche asset class, BTC is now open to the public. The funds are regulated and managed by some of the largest entities in the financial world. Michael Saylor, Co-founder and former CEO of MicroStrategy, has also been relentlessly buying Bitcoin. Other companies are beginning to stack BTC too. Source: Michael Saylor on X The Ethereum Spot ETF approval was also a boost to the industry. U.S. Presidential elections bring crypto to the fore The 2024 presidential campaign spurred many debates about either candidate and the kind of administration they would bring. Trump’s embrace of crypto, his appearances at industry events, and his campaign promises made his administration’s pro-crypto position clear. This boosted crypto sentiment massively. In fact, the President-elect even made promises to make the USA the crypto-capital of the world. Policy…
Filed under: News - @ December 29, 2024 12:03 am