The 5-minute newsletter on the important stuff in finance — reporting what’s going on, and why. This week: Bitcoin’s Battle with $50k: Where We Are, DeFi’s Trustless nature vs. Trusted FinTech. Can Robinhood Maintain its Dominance? Second NFT Wave lifts Solana and Etherum and can Robinhood become the gateway to FinTech firms – PayPal, Robinhood, Square, and Robinhood. The SEC is likely to approve futures-based Bitcoin ETFs before those handling physical BTC.

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@thetokenistThe Tokenist

Latest blockchain, financial, and fintech news — everything that matters in the new era of finance.

The 5-minute newsletter on the important stuff in finance — reporting what’s going on, and why.Let’s see what’s going on this week:

  • Long-Anticipated US Bitcoin ETFs on the Horizon
  • Bitcoin’s Battle with $50k: Where We Are
  • DeFi’s Trustless Nature vs. Trusted FinTech
  • Second NFT Wave Lifts Solana and Ethereum
  • Can Robinhood Maintain Its Dominance?
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Bitcoin ETFs – New Floodgate for BTC Price Breakout

  • After dozens of denials, SEC Chief Gary Gensler is likely to approve futures-based Bitcoin ETFs ahead of those handling physical BTC. Canada is experiencing what looks like a ‘first mover’ advantage with Canadian Bitcoin ETFs—will the US see the same? (link)
  • While the wait for a Bitcoin ETF continues, institutions are turning to businesses with crypto-heavy business models for exposure to digital assets. (link)

Futures-Based Bitcoin ETFs are Still Better than None

If there’s one persistent trend out there, it’s that people older than 65 are the least likely to onboard the crypto train. This hesitancy applies even when they understand the blockchain backbone and have a favorable view of cryptocurrencies. That age bracket also holds more than double the net worth of the median US household, at $266k.

With inflation fears entrenched, Bitcoin ETFs would provide the means to catch two fish with one worm. By mimicking BTC’s performance without needing to hold any deflationary Bitcoin, ETFs would allow an easy entry into the United States ETF market worth $6.6 trillion. The exponential growth of ETF popularity speaks for itself, largely owed to fewer tax liabilities.

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Total net assets of exchange traded funds (ETFs) in the US (source: Statista.com).

On the flip side, Gary Gensler is hesitant to provide this popular investment vehicle, citing Bitcoin’s volatility issues and custody security. As he keeps stalling, 5 Canadian BTC ETFs have accumulated $2.5 billion in half a year’s time….

Continue reading: https://hackernoon.com/btc-tests-dollar50k-trustless-defi-vs-trusted-fintech-solana-soars-392937g1?source=rss

Source: hackernoon.com