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Bitcoin ETFs set to roll out down under

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The Bitcoin exchange-traded fund phenomenon is set to launch down under, as regulators prepare to announce a whole new range of approvals

At the centre of it all is Cosmos Asset Management, with the company reportedly launching a Bitcoin Access ETF in coming days.

In addition to this, ’21Shares A-G’ working alongside ‘ETF Securities’ will likely launch their Bitcoin and Ether funds on April 27.

Bitcoin and crypto ETFs have become a hot topic over the past several months, with the hype largely following US regulators approving a futures-based fund.

The chairman of ETF Securities Australia says the two products give investors a “way of trading crypto in a tightly-regulated environment without having to maintain their wallet and manage risk”.

But with an expected tightening of Federal Reserve monetary policies, there has been a recent reduction in the appeal of riskier investments.

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What is causing the crypto market crash?

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Crypto Braced For $300 Million Game-Changer As The Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Swing

Bitcoin, ethereum and other major cryptocurrencies are still struggling despite a wave of bullish announcements (and an eye-popping bitcoin price prediction).

The bitcoin price has again crashed under $20,000 per bitcoin, dragged lower by the Fed’s decision to keep interest rates near zero until 2023.

While the US government’s $300 million investment into bitcoin mining is a game-changer, it remains to be seen if it will be enough to boost the cryptocurrency market.

The current cryptocurrency market crash can be attributed to a few key factors.

Firstly, the US government’s announcement of a $300 million investment into bitcoin mining is a game-changer.

This investment will likely increase the hashrate and drive up demand for GPUs, which will in turn push up prices. Secondly, the Fed’s decision to keep interest rates near zero until 2023 is also weighing on the market.

This decision makes it less attractive for investors to put their money into cryptocurrencies. Lastly, there are concerns that the recent bull run was driven by speculation and that the market is now cooling off.

Will the $300 million investment be enough to boost the market?

It remains to be seen if the $300 million investment from the US government will be enough to boost the cryptocurrency market.

While this investment is definitely a positive development, it may not be enough to offset the bearishness in the market caused by other factors such as the Fed’s decision to keep interest rates near zero. Only time will tell how much of an impact this investment will have on the market.

In the meantime,crypto investors should brace for more volatility in the markets.

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Business

Crypto whales exchange $10 million in Shiba coins

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Two large anonymous cryptocurrency wallets exchanged a total of 855,614,973 Shiba Inu meme coins, worth approximately $9.6 million.

The data, published on the WhaleStats website, reveals that these top Ethereum wallet owners have increased their SHIB stash by $134,767,965 in value since September 21.

While it is unclear what the motives behind these transactions are, it seems that the recent surge in demand for Shiba Inu meme coins has led to a significant increase in their value.

With the price of SHIB currently sitting at $0.0016 per coin, it will be interesting to see how these anonymous investors choose to cash out their profits.

So, these whales made a profit of about $649 000 in just three days due to the price increase of both assets.

As the Ethereum blockchain network’s meme currency becomes more popular among cryptocurrency investors and traders, its price is also growing rapidly.

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Crypto

Australia targets rise of China’s digital currency

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An Australian lawmaker wants to tackle the rise of China’s digital currency

Andrew Bragg is the man behind the changes, he’s from the conservative Liberal Party who wants to put restrictions in place to avoid the use of the digital Yuan.

In a draft bill, the MP wants banks to share details about whether or not they have accepted digital currencies from China.

Of course, Beijing is currently running trials of its sovereign currency at the moment.

But it’s left some lawmakers in a rush to get on top of it.

Earlier this year, the U.S. began setting up fresh rules around the digital Yuan .

In Australia, banks that are found to be breaching the rules could be penalised.

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