FameEX Morning Crypto News Recap | October 21, 2024

SEC Grants Approval for NYSE and CBOE to List Spot Bitcoin ETF Options

The U.S. SEC approved applications from the New York Stock Exchange and Chicago Board Options Exchange to list options on spot Bitcoin ETFs. This move brings Bitcoin ETF options in line with other commodity ETFs, like those for precious metals, marking a major regulatory advancement for cryptocurrency investments.

Bitcoin's Market Cap Exceeds Ethereum by $1 Trillion

Glassnode analyst Checkmatey reported that Bitcoin's market cap is now $1 trillion greater than Ethereum's, setting a new record for the price gap between the two leading cryptocurrencies.

Ethereum Inflation Rate Falls Below Bitcoin and Gold

Leon Waidmann, research director at the Onchain Foundation, highlighted that Ethereum's annual inflation rate is +0.31%, lower than Bitcoin and gold. Since the merge, 135,000 ETH have been burned. Waidmann suggests that the market may be underestimating Ethereum's bullish potential ahead of the next bull run.

Harris Campaign Promises Crypto Regulation to Attract Black Male Voters

On October 19, Democratic candidate Harris's campaign pledged to introduce cryptocurrency regulation to gain support from black male voters, aiming to protect their investments. Dr. Emdad of Morgan State University highlighted that over a quarter of black Americans own cryptocurrencies, compared to about 15% of white Americans, underscoring the policy's significance for this demographic.

Brazil's Central Bank to Expedite Asset Tokenization and Stablecoin Regulation by 2025

Brazil's Central Bank president, Roberto Campos Neto, plans to expedite asset tokenization and stablecoin regulation by 2025. The bank will launch a consultation this month to seek feedback on rules for Virtual Asset Service Providers (VASPs) and conduct a public consultation to refine the draft on conduct, organization, and authorization processes for these entities.

BlackRock Reports 75% of Bitcoin Buyers Are New Crypto Enthusiasts on Wall Street

Samara Cohen, head of ETFs at BlackRock, stated that 75% of Bitcoin buyers are new enthusiasts from Wall Street, mostly choosing to invest through ETFs instead of directly on crypto exchanges. BlackRock's strategy is to promote the benefits of ETFs to attract more cryptocurrency investors, catering to the rising demand.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​