Altcoin News by Thebittimes.Com

Ripple (XRP) appears to be laying the groundwork for a future XRP exchange-traded fund (ETF). A recent job opening for a Senior Manager for Business Development at Ripple listed a key responsibility: “drive cryptocurrency-related ETF initiatives with internal trading teams and relevant partners.” This has led some in the crypto community to wonder whether the blockchain payments company is aligning its strategy with the evolving crypto landscape. This development surfaces as Ripple navigates through a high-profile legal tussle with the U.S. Securities and Exchange Commission (SEC), which many speculate could eventually lead to clearer regulations and the much-anticipated approval of other crypto ETFs besides the Bitcoin spot ETF. The crypto analytics community and industry reporters have been quick to dissect the implications of this role. On Jan. 27, the cryptocurrency insights forum, Good Morning Crypto, took to X to highlight the possible significance of the little ti...

Bitcoin’s (BTC) price recently surged following fake news about a BTC ETF approval , according to one analyst this is an event with unexpectedly far-reaching consequences . In his video on Oct. 18th, popular crypto YouTuber Crypto Banter provided an in-depth analysis of how this fake news impacted the crypto market and what lessons can be learned. The fake tweet, which was posted and quickly deleted by crypto publication Cointelegraph, led to a spike in Bitcoin buying and liquidated many short positions. While the publication blamed the tweet on an intern posting unverified information, the host believes it was likely a coordinated effort at market manipulation. You might also like: What’s happening with Bitcoin ETFs, and will the SEC approve them? However, the host argues the fake news may have actually benefited Bitcoin in some ways. First, it showed that a real SEC approval of a Bitcoin ETF is not yet priced into the market. When legitimate approval happens, ...

The gap between Bitcoin’s price and GBTC shares has narrow ed after the SEC rejected Grayscale’s application to convert its trust into an exchange-traded fund (ETF). In the last year, many investors reportedly profited from the anticipation that the U.S. Securities and Exchange Commission (SEC) would greenlight a product directly pegged to the value of Bitcoin (BTC). However, after a U.S. Court of Appeals mandated the SEC to reassess its refusal to greenlight Grayscale Bitcoin Trust’s (GBTC) application to transform into an ETF, the discount on GBTC shares to the value of the underlying Bitcoin slimmed down to approximately 17%, according to the Wall Street Journal. GBTC, which manages $16.1 billion in assets, provides investors with exposure to Bitcoin as a security. Each share represents ownership of a fraction of Bitcoin, equal to 0.00090040 of a complete coin, which was priced at $24.49 at the market’s inception. According to analysts, Bitcoin’s mini-surge this year and the ...