Weekly Roundup: SEC approves Bitcoin ETFs, Swissquote reports record profit

abdelaziz Fathi

Last week, the U.S. Securities and Exchange Commission voted to approve the first U.S.-listed exchange traded funds (ETFs) to track bitcoin. This move paves the way for mainstream investors to trade bitcoin as easily as stocks and traditional assets. Keep your finger on the pulse with our hand-picked essential stories and updates that are most relevant to those in the market.

Besides the SEC’s landmark decision, we delve into the heart of this ever-changing market, providing expert insights, thoughtful commentary, and a snapshot of the trends shaping the crypto landscape.

SEC officially approves spot Bitcoin ETFs

The Securities and Exchange Commission (SEC) has approved proposals for spot bitcoin exchange-traded funds (ETFs). The news, initially appearing on the SEC’s website before the link led to a 404 error, marks a pivotal moment in the crypto investment landscape. Read More

5 reasons why Bitcoin could skyrocket over SEC’s decision

The SEC approval of Bitcoin Exchange-Traded Funds (ETFs) signals a landmark moment for both Bitcoin and the broader cryptocurrency market, and could send prices skyrocketing in the longer term with BTC prices perhaps hitting $60,000 this quarter, said deVere Group CEO Nigel Green. Read More

Grayscale’s Bitcoin ETF has its first pre-market trades on NYSE

With the SEC’s decision, Grayscale Bitcoin Trust will become the world’s second-largest commodity-based ETF and the world’s largest spot Bitcoin ETF. Read More

Coinbase to acquire Cypriot firm to secure MiFID II license

America’s largest cryptocurrency exchange, Coinbase, is setting its sights on the European Union’s derivatives market. The company plans to acquire a Cyprus-based entity that holds a MiFID II license. Read More

Bitcoin price action proves that today’s SEC decision will trigger sell-off

Matteo Greco, Research Analyst at the publicly listed digital asset and fintech investment business Fineqia International (CSE:FNQ) shared his views on the recent compromise of the SEC’s X account, which falsely confirmed approval of all spot Bitcoin ETFs in the US. Read More

Kresus SuperApp – The Crypto All-in-One Solution

Kresus is a cryptocurrency wallet and Web3 application designed to simplify interactions with blockchain technology, aiming to be user-friendly and accessible to a broad audience. Developed by renowned tech entrepreneur Trevor Traina, this innovative platform stands as the first true Web3 mobile SuperApp. Read More

Ripple valued at $11.3 billion, CEO denies IPO rumors

Ripple Labs, the blockchain company behind XRP coin, is set to repurchase $285 million worth of shares from its early investors and employees. This move, described as a tender offer, places the company’s valuation at $11.3 billion. Read More

FTX clients seek larger payouts as crypto prices jump

Several clients of the now-defunct cryptocurrency exchange FTX are disputing the method the company plans to use for valuing their deposits in the ongoing bankruptcy proceedings. Read More

Also join us as we break down the week’s top stories in FX markets that are relevant to your interests.

Cboe goes live with daily expiries for Russell 2000 index options

Cboe has gone live with daily expiries for both the Russell 2000 Index weekly (RUTW) and Mini-Russell 2000 Index weekly (MRUT) options. Read More

ForexVox rebrands to MarketsVox as trading industry goes multi-asset

Offshore retail CFD broker ForexVox has announced it is rebranding to MarketsVox, in a shift that goes beyond a mere name change. Read More

Plus500 expects $725 million in 2023 revenue, EBITDA at $340 million

Israeli-based, but London-stock market listed Plus500 Ltd (LON:PLUS) expects to report full-year revenue at $725 million, down 13 percent from $832 million in 2022. Read More

CMC Markets stock hits 6-month high after raising profit forecast

CMC Markets PLC (LSE:CMCX) shares jumped by as much as 25% on Monday after the broker announced an increase in its annual operating income forecast, citing a recent uptick in market volatility as a key driver. Read More

Simon Wilson-Taylor joins Fintech incubator FastFin

FX industry veteran Simon Wilson-Taylor is joining a Fintech incubator and innovation lab focused on the capital markets. Read More

S&P 500 and Nasdaq-100 E-mini futures get longer expiries

CME Group is set to launch event contracts with quarter- and year-end expiries for E-mini S&P 500 and E-mini Nasdaq-100 futures on January 29, pending regulatory approval. Read More

NAGA Group swings to profit in 2023 despite revenue hit

NAGA Group, a provider of brokerage services, cryptocurrency platform NAGAX and neo-banking app NAGA Pay, reported its  at €45.5 million. This figure represents a +20 percent decline from the previous year’s revenue of €57.6 million. Read More

UAE investors wake to the launch of equity trading on Emirates Islamic bank mobile app

Emirates Islamic (EI) has announced the launch of a digital wealth and equity trading platform on its EI+ mobile banking app, claiming to be the first Islamic bank in the UAE to offer this feature to its customers. Read More

Swissquote revenue surge to $623 million in 2023, profit up 36%

Swissquote Group, Switzerland’s provider of online trading services, reported its operating revenue for the 12-month period ending December 31, 2023 at CHF 530 million (roughly $623 million). Read More

Your Bourse explodes past $1 trillion trading volume in December

Trade execution technology provider, Your Bourse, reported a record monthly trading volume of $1.08 trillion for December 2023. This figure indicates a notable increase in client usage and trading activity on the vendor’s platform. Read More

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