As the Wall Street Journal reported, the Security Exchange Commission rejected nine separate bitcoin-based exchange trade funds yesterday. The rejection of the Direxion application can be found here. Given the hype surrounding bitcoin ETFs and the importance ETFs seems to play in the recent rise in price, I’m surprised how stable prices are after the news, according to Coindesk. I expected to
Bitcoin is struggling but cryptocurrencies known as “alt-coins” were faring much worse on Tuesday. XRP and Ethereum both dropped by more than 12 percent and the entire cryptocurrency market lost $19 billion in 24 hours, according to CoinMarketCap.com. “The crypto market seems to have hit panic mode,” says Matthew Newton, analyst at global investment platform
The EM contagion will be swamped by the ongoing trade spat Emerging-market risks loom, sees selling opportunities ahead U.S. President Donald Trump’s trade war is a bigger threat for emerging-market currencies than Turkey’s deepening economic crisis, according to Ray Attrill, National Australia Bank Ltd.’s head of foreign-exchange strategy. The trade spat escalation will dwarf
It’s no secret that trading volumes have been stagnant for years. But that doesn’t mean no one is trading. The dollar volume of trading — the amount of shares traded times the price of the stocks — has never been higher. The average S&P 500 stock is now $115, highest in history, according to S&P
Nothing really surprises hardcore crypto fanatics, but the news that a Chinese billionaire is building a cryptocurrency hub in the U.S. has certainly been raising a few eyebrows. The hub is set to cost in the region of USD 300 million and will be built not in Shenzhen of Beijing, but in Hartford, Connecticut. The
