Fidelity Throws Support Behind Bitcoin ETF, Amplifying Market Momentum
On Friday, Bitcoin and various other cryptocurrencies experienced significant gains, with certain tokens recording substantial double-digit increases. The market sentiment was boosted by either Fidelity Investments, a prominent financial services company, reapplying for a spot Bitcoin ETF, or the unexpectedly robust US economic data.
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The Shiba Inu layer-2 Shibarium testnet, affectionately known as "Puppynet," has achieved two remarkable milestones simultaneously. In just a few months since the beta test was launched, the protocol has experienced significant growth in both transaction volume and the number of wallet addresses. As per the latest data from PuppyScan, a dedicated blockchain explorer, the total number of transactions on the Shibarium beta has soared to an impressive 25,505,315. Additionally, the number of wallet addresses has surged to an astounding 17,001,839.
The United Kingdom (UK) has taken a proactive step to strengthen its financial ecosystem with the recent Royal Assent granted to the Financial Services and Markets Bill (FSMB). The UK Government has dedicated considerable effort to developing this bill, and its successful passage is expected to play a pivotal role in realizing the government's vision of fostering economic growth and establishing an open, sustainable, and technologically advanced financial services sector.
After extensive public speculation and high expectations, Fidelity Investments, a multinational financial services corporation based in Massachusetts, has officially submitted an application to the United States Securities and Exchange Commission (SEC) for the establishment of a Bitcoin (BTC) Exchange Traded Fund (ETF) called the Wise Origin Bitcoin Trust. The filing also disclosed the existence of a surveillance sharing agreement with an undisclosed U.S. spot-based bitcoin trading platform.
COIN GABBAR Views: The question arises as to what lies ahead for cryptocurrency based on long-term technical indicators. It is crucial to consider whether the trajectory of the crypto market resembles that of the dot-com bubble. Stay tuned for the latest news at www.coingabbar.com
Also read: BlackRock ETF Approval Could Revolutionize Crypto Investment
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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