FameEX Morning Crypto News Recap | October 21, 2024

SEC Approves NYSE and CBOE to List Spot Bitcoin ETF Options

The U.S. SEC has approved applications from the New York Stock Exchange and Chicago Board Options Exchange to list options on spot Bitcoin ETFs. This decision aligns Bitcoin ETF options with other commodity ETFs, such as those tracking precious metals, marking a significant regulatory step for cryptocurrency investments.

Bitcoin's Market Cap Surpasses Ethereum by $1 Trillion

Checkmatey, an analyst at Glassnode, reported that Bitcoin's market cap is currently $1 trillion higher than Ethereum's, marking a new record in the price gap between the two cryptocurrencies.

Ethereum's Inflation Rate Lower Than Bitcoin and Gold

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

Harris Campaign Pledges Cryptocurrency Regulation to Appeal to Black Male Voters

On October 19, Democratic presidential candidate Harris's campaign announced plans to win support from black male voters by promising cryptocurrency regulation to protect their investments. Dr. Emdad from Morgan State University noted that over a quarter of black Americans own cryptocurrencies, compared to about 15% of white Americans, highlighting the importance of this policy to the demographic.

Brazil's Central Bank Aims to Fast-Track Asset Tokenization and Stablecoin Regulation by 2025

Roberto Campos Neto, president of Brazil's Central Bank, aims to accelerate the regulation of asset tokenization and stablecoins by 2025. The bank will issue a new consultation this month to gather feedback on Virtual Asset Service Providers (VASPs) operating rules. Additionally, a public consultation will be launched to refine the draft on conduct, organization, and authorization processes for these entities.

BlackRock: 75% of Bitcoin Buyers Are New Cryptocurrency Enthusiasts on Wall Street

Samara Cohen, head of ETFs at BlackRock, revealed that 75% of Bitcoin buyers are new Wall Street enthusiasts, with most preferring investment via ETFs rather than direct purchases on crypto exchanges. BlackRock aims to highlight the benefits of ETFs to attract more cryptocurrency investors, leveraging these tools to meet growing demand.

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