Cathie Woods and bitcoin logo

Cathie Wood Says Bitcoin Replaces Gold, ETFs Fuel the Fire

Cathie Wood asserts Bitcoin’s rise as a safe-haven asset, replacing gold and fueled by easier access through spot Bitcoin ETFs, predicting its sustained growth and mainstream adoption.

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Water faucet with dollar outflowing from it, Grayscale banner and a sack written "Deficit"

Grayscale’s Spot Bitcoin Has Had $2.2 Billion Outflows in 5 Days

In the dynamic landscape of cryptocurrency investments, Grayscale’s Bitcoin ETF (GBTC) is undergoing a transformative shift, evolving from a closed-end fund to a spot ETF. The initial five days of trading in this new form have witnessed substantial outflows, totaling an estimated $2.2 billion. This exodus is primarily influenced by two key factors affecting investor decisions.

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Bitcoin logo titled: Bitcoin $50000

Bitcoin to Hit $50,000 by January, Says Matrixport

Matrixport, a leading crypto financial services platform, forecasts that Bitcoin will soar to $50,000 in the next month, driven by several positive factors. The company expects that the approval of spot Bitcoin ETFs by the U.S. regulator, the increasing institutional adoption of Bitcoin, the limited supply of the cryptocurrency, and the historical seasonal pattern will boost the price of Bitcoin to new highs. Matrixport also predicts that the crypto market will enter an altcoin season, a phase when alternative cryptocurrencies outperform Bitcoin in terms of returns. The company advises investors to diversify their portfolios with altcoins that have strong fundamentals and growth potential.

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SEC and Bitcoin logos titled: Bitcoin spot etf approval expected this week

SEC Set to Approve First Spot Bitcoin ETFs This Week, Sources Say

The U.S. Securities and Exchange Commission (SEC) is expected to approve the first spot bitcoin exchange-traded funds (ETFs) as early as next week, according to sources familiar with the matter. This would mark a historic moment for the cryptocurrency industry, as spot bitcoin ETFs would allow investors to gain exposure to the price of the largest digital asset without having to buy and store it themselves. The SEC has previously approved futures-based bitcoin ETFs, which track contracts that trade on the Chicago Mercantile Exchange, but spot bitcoin ETFs are seen as more attractive and accessible for retail investors. The decision by the SEC could have a significant impact on the adoption and volatility of bitcoin, as well as the future of crypto-related financial products.

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