There have been a fair amount of articles written that say that the price of crypto coins are going in line with the stock market.
That makes me wonder why that might be, the impact of the strength of the U.S. dollar?
The impact of the fed raising interest rates?
The impact of growth stocks vs traditional earnings per share models?
If you have watched crypto world on cnbc they have had ceo after ceo come on to say that regulation is needed to safe guard the investor this does make me think about institutional monies and the claim that the markets will spike once that money is allowed to enter, what I havent seen is where these funds are set aside and why these investors/hedge funds havent teamed up with centralized systems like Coinbase that can work custody of wallets and to secure funds.
Forbes article explained it like this "an employer-adopted 401(k) plan with employees will likely not allow for any alternative investment options because of ERISA fiduciary rules.” " in their article Bitcoin IRA: How To Invest For Retirement With Cryptocurrency
However Coinbase had a jump it its share price when they announced their deal to help Blackrock with bitcoin and crypto investments recently.
https://www.fidelity.com/social-media/metaverse Fidelity and others already have directed IRA setup that allow crypto investments.
FIDELITY METAVERSE ETF
(FMET)
Fidelity® Crypto Industry and Digital Payments ETF (FDIG)
I have heard that IRA when more coins can be purchased and used into a fund will be a driver along with spot trading, basically allowing funds to be used to day trade which they say adds liquidity to the market.
It was puzzling to me to see rejection again by the SEC for spot trading when they keep rejecting some companies and allow others and adding to etf options https://www.coindesk.com/business/2022/10/11/wisdomtrees-spot-bitcoin-etf-rejected-by-the-sec/
but they allowed a public traded company to short bitcoin as a trade.
I ask proshares biti on Linkedin
"ProShares what is the key difference between your etf short and the short positions with available margin trades and long position trades with KuCoin Exchange and others?
Are you going to be offering a long position etf #btc ?" Received no response.
There are six already allowed to trade spot etf bitcoin
ProShares Short Bitcoin ETF (BITI)
Global X Blockchain & Bitcoin Strategy ETF (BITS)
AdvisorShares Managed Bitcoin Strategy ETF (CRYP)
VanEck Bitcoin Strategy ETF (XBTF)
Valkyrie Bitcoin Strategy ETF (BTF)
ProShares Bitcoin Strategy ETF (BITO)
Forbes just wrote an article this week about these along with cost to trade if you want to find more info on it.
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