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FameEX Morning Crypto News Recap | January 8, 2024
2024-01-08 13:54:46
SEC Issues Caution About 'FOMO' Before Ruling on Spot Bitcoin ETF Decision
The U.S. Securities and Exchange Commission (SEC) warned against investor FOMO, noting that popular investments aren't always universally suitable. The SEC emphasized the recent boom in online investing and the rise of digital assets and meme stocks, highlighting the challenges and intricacies involved in navigating these investment options.
Blackrock Predicts SEC to Greenlight Spot Bitcoin ETF This Coming Wednesday
Blackrock, the largest asset manager globally, is expecting the U.S. Securities and Exchange Commission (SEC) to approve its Ishares Bitcoin Trust, a spot bitcoin ETF, this Wednesday. The company has reportedly amassed over $2 billion in capital in anticipation of launching its spot bitcoin ETF.
Former Citi Executives Unveil Bitcoin Product Avoiding SEC Approval Necessity Former Citigroup executives have introduced bitcoin depository receipts, a new cryptocurrency product that doesn't require U.S. Securities and Exchange Commission (SEC) registration. This innovative solution aims to serve as an adjunct to spot bitcoin ETFs, which are expected to be approved by the SEC in the coming week. Growing Apprehensions Regarding SEC's Potential Rejection of Spot Bitcoin ETFs, Analyst Provides Perspective Anxiety mounts over the U.S. SEC potentially declining spot bitcoin ETFs, especially after Better Markets urged their rejection due to risks of "financial carnage" and major investor harm. The SEC's verdict is anticipated early next week, with the possibility of ETF trading beginning by January 11. OpenAI Encounters Another Copyright Lawsuit Shortly After New York Times Case Authors Nicholas Basbanes and Nicholas Gage have filed a lawsuit following OpenAI's recognition, in its legal conflict with The New York Times, of the need to compensate copyright owners, including the plaintiffs, for using their intellectual property. This legal action arises from OpenAI's concession regarding the rights of creators. VanEck Promises 5% of Profits from Spot Bitcoin ETF to Core Developers Following SEC Sanction As asset managers, including VanEck, anticipate the SEC's verdict, VanEck has committed to donating a portion of its spot crypto ETF earnings to Bitcoin core developers through Brink. Independent of the SEC's approval for this investment vehicle, VanEck has proactively made a $10,000 donation to aid the developers. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
