Editors: Bi LumingOn the morning of October 24th Beijing time, Bitcoin quickly rose by over 3000 US dollars, rising to over 34000 US dollars, reaching a maximum of 34357 US dollars, an increase of 10.04%, reaching the highest level since June last year
Editors: Bi Luming
On the morning of October 24th Beijing time, Bitcoin quickly rose by over 3000 US dollars, rising to over 34000 US dollars, reaching a maximum of 34357 US dollars, an increase of 10.04%, reaching the highest level since June last year.
Image source: Screenshot of Yingwei Financial Information
Public data shows that within 24 hours, the entire network's digital currency contracts were exposed to approximately 439 million US dollars (approximately RMB 3.216 billion); In the past 24 hours, a total of 87695 foreign users have been cleared.
According to the news, a US court has ruled that the listing application for Bitcoin ETFs should be transferred to the United States. For review by the Securities and Exchange Commission (SEC). The US Securities and Exchange Commission has been informed of the subsequent disposal of the grayscale Bitcoin ETF listing plan.
On the evening of October 16th, the well-known cryptocurrency media Cointelgraph published an article stating that the US Securities and Exchange Commission (SEC) has approved the application of global asset management giant BlackRock to list spot Bitcoin ETFs. Affected by the above news, the price of Bitcoin has rapidly increased. Afterwards, Cointelgraph spread inaccurate information about BlackRock Bitcoin ETFs on this post and stated that an internal investigation is currently underway, emphasizing its commitment to information transparency.
It is understood that the so-called spot Bitcoin ETF refers to an exchange traded fund composed of Bitcoin or assets linked to Bitcoin prices, which can earn income by trading exchange traded fund products on various exchanges. Investors who purchase such fund products are indirectly equivalent to investing in Bitcoin. As the price of Bitcoin fluctuates, the returns of fund products will also fluctuate accordingly.
As early as 2021, countries such as Canada and Brazil successively approved the launch of Bitcoin ETFs, driving a significant increase in Bitcoin prices. We. The position of the SEC compared to the ETF has always influenced the market. Since 2023, Bitcoin spot ETFs have led to multiple declines in Bitcoin, including the re submission of Bitcoin spot ETF applications by BlackRock and Fidelity Investment in June, with Bitcoin trading prices exceeding $30000 at one point. Eight major financial institutions in the United States have submitted Bitcoin ETF applications to the Bitcoin Exchange. But this year, the SEC has all been rejected by regulatory authorities.
According to the Beijing Business Daily on October 18th, Wang Peng, an associate researcher at the Beijing Academy of Social Sciences, once a spot Bitcoin ETF is approved for listing, it will be recognized as an investable asset class. The degree and ability of investors to legally purchase. However, the problem of Bitcoin itself lacking practical application scenarios and underlying asset support is difficult to solve. Regulatory authorities are more cautious about spot Bitcoin ETF products. Although the release of spot Bitcoin ETFs is approved, it does not guarantee the long-term stability of Bitcoin trading prices.
Wang Peng emphasized that cryptocurrency transactions involve high risks, and ordinary users should not be attracted by short-term gains to avoid potential risks of property loss. Especially now that domestic cryptocurrency transactions have been completely suspended, the rights and interests of ordinary users cannot be guaranteed. Users must have a deep understanding of the risks involved in cryptocurrency speculation, avoid being tempted by so-called high returns, and approach both returns and risks rationally.
Daily economic news combined with Beijing Business Daily and Bitcoin market data
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