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BlackRock CEO Larry Fink’s Enigmatic Response Fuels Speculation On XRP ETF

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In a recent exclusive interview with FOX senior correspondent Charles Gasparino, Larry Fink, the CEO of BlackRock, was pressed about the potential launch of an XRP exchange-traded fund (ETF) following U.S. regulators’ recent approval of a Bitcoin spot ETF. Gasparino specifically sought Fink’s insights on the likelihood of an XRP ETF soon hitting the market, especially given that the investment giant has already submitted proposals for an ETF centered around Ethereum (ETH).

Fink’s cryptic “I can’t talk about that” response has triggered a wave of speculation within the XRP community. While not providing a clear affirmation or negation, Fink’s statement has been interpreted by XRP enthusiasts as a potential signal that BlackRock is at least considering the prospect, injecting a sense of optimism into the XRP market.

BlackRock CEO’s Cryptic Stance Fuels XRP Speculation

Tony Edward, host of the Thinking Crypto podcast, characterized Fink’s cautious approach as a strategic move, suggesting that a definitive yes or no could have immediate ramifications on the XRP market.

Adding to the intrigue, a senior executive at Valkyrie, a firm authorized to list a Bitcoin ETF, hinted at the possibility of an XRP ETF emergence. This speculation was fueled by the recent reinstatement of XRP by Grayscale. Although the Valkyrie executive expressed uncertainty about the firm filing for an XRP ETF, he emphasized the feasibility of such a move, considering the unpredictable nature of the financial market.

Contrary to the optimism within the XRP community, some notable figures, including Versan Aljarrah, founder of Black Swan Capitalist, dismiss the relevance of an XRP ETF. Aljarrah argues that XRP is inherently designed as a currency and not meant to be part of an ETF. He views crypto spot ETFs as distractions, potentially opening doors to institutional corruption, a sentiment shared by some members of the XRP community.

As speculation swirls around BlackRock’s potential entry into the XRP ETF arena, the cryptocurrency market remains on edge, awaiting further developments from one of the world’s largest asset management firms.

Shiba Inu Prepares For Surge, ADA Faces Levels, ARB Rally Continues Post-ETF

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The Shiba Inu (SHIB) cryptocurrency is gearing up for a potential market explosion, with its recent chart analysis signaling the possibility of a genuine rally. Notably, SHIB’s chart exhibits a conspicuous absence of substantial resistance levels beyond the psychological barrier at around $0.000012. This bullish indicator suggests that Shiba Inu could capitalize on the existing trend and embark on a robust rally with limited obstacles in its path.

Current trading patterns reveal Shiba Inu’s steady climb, bouncing from a sturdy support level at $0.000009 and consistently forming higher lows. This trajectory brings SHIB closer to a critical resistance level. Should the cryptocurrency successfully breach this resistance, the path may be clear for a significant upward movement, rekindling the enthusiasm reminiscent of its historic rise in May 2021.

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Shiba Inu Prepares For Surge, ADA Faces Levels, ARB Rally Continues Post-ETF 2

Given SHIB’s historical penchant for explosive growth spurred by community hype and broader market rallies, the recent approval of a Bitcoin spot ETF may propel Shiba Inu to harness renewed investor enthusiasm, potentially leading to a rally reminiscent of its past successes.

Meanwhile, Cardano (ADA) undergoes scrutiny as it tests pivotal resistance levels that could shape its immediate trajectory. The first noteworthy resistance is at $0.58, a former support level that has now transformed into a hurdle ADA must surpass to maintain its bullish momentum. Another crucial resistance lies at $0.60, a psychologically significant level historically associated with considerable sell orders.

Shiba Inu Spotlight: ADA Support, Arbitrum Rally, Ethereum’s Layer-2 Shift

On the support side, ADA finds a reliable safety net at $0.53, which has consistently acted as a launching pad for price rebounds throughout the month, indicating robust buying interest.

Despite favorable crypto market conditions, ADA’s current position remains delicate, with potential volatility as it contends with these resistance levels. The ability to break through and sustain positions above these hurdles will determine whether Cardano can transition from its current turning point into a sustained upward trend.

In the realm of Layer-2 solutions, Arbitrum is experiencing an impressive rally, showcasing the escalating interest in these solutions within the Ethereum ecosystem. Ethereum’s ongoing scalability challenges fuel this surge, with solutions like Arbitrum gaining traction and becoming key investment focal points.

ARB’s price has recently surpassed the significant $2 mark, a former strong resistance level. The rally, accompanied by a notable increase in volume, signals solid conviction among buyers and suggests the potential for a sustained trend. The next critical resistance for ARB is forming around the $2.50 mark, historically a point of price rejection. A successful breakthrough at this level could trigger a more aggressive bullish phase for Arbitrum.

Layer-2 networks like Arbitrum emerge as primary beneficiaries of the Ethereum rally, offering the scalability solutions urgently needed by the second-largest blockchain by market cap. With Ethereum grappling with high gas fees and network congestion, the growth potential for layer-2 tokens is substantial, providing cheaper transactions and fostering a more efficient decentralized finance ecosystem.

Bitcoin’s Decline Sparks Financial Analyst Peter Schiff’s Ridicule Of Grayscale

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In the wake of the recent decline in Bitcoin prices, prominent economist and financial commentator Peter Schiff has taken to X (formerly Twitter) to express his skepticism about the viability of Grayscale’s BTC Trust (GBTC).

The primary cryptocurrency has witnessed a nearly 7% decline in the past 24 hours, plunging below the $44,000 threshold. Schiff, a persistent critic of Bitcoin and other digital assets, has questioned the sustainability of GBTC’s extensive advertising campaigns, given the anticipated sharp decrease in the Net Asset Value (NAV) of their BTC holdings due to the declining BTC prices.

This development occurs as alternative Bitcoin Exchange-Traded Funds (ETFs) gain traction due to lower fees, sparking concerns about a potential exodus of shareholders. Schiff appeared to celebrate in a series of X posts, highlighting the methodical sell-off in BTC, Bitcoin ETFs, and related securities.

Bitcoin Speculation And Investor Critique

He speculated about the possibility of more aggressive selling in the future and criticized investors who speculated on the approval of spot Bitcoin ETFs, suggesting that they are now divesting their positions. Additionally, he emphasized the challenges spot BTC ETFs could face in liquidating Bitcoin for U.S. dollars, especially considering past reliance on Tether for liquidity and price support.

The introduction of spot BTC ETFs in the U.S. significantly impacted the market, with offerings from Bitwise Invest, Fidelity, and BlackRock attracting $625.8 million in net inflows. However, Grayscale’s BTC Trust experienced outflows of $95 million. This performance gap raises concerns about investor preferences and the sustainability of Grayscale’s high fee structure.

Reports indicate that Grayscale transferred a substantial amount of BTC to a Coinbase Prime deposit address, potentially signaling a shift of investor assets to other ETFs or routine selling activity.

Bitcoin Sparks Controversy: Critics Disapprove Of Spot ETF Approvals

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The cryptocurrency industry marked a significant milestone with the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States, generating widespread celebration. However, the decision by the U.S. Securities and Exchange Commission (SEC) has faced criticism from dissenting voices.

In a statement released on January 10, SEC Commissioner Caroline Crenshaw, one of the two commissioners who opposed the approval, expressed concerns about the agency’s decision, describing it as “unsound and ahistorical.” 

Crenshaw highlighted apprehensions about the potential impact of these investment products on the market, expressing worry that they could flood the markets and pose risks to the retirement accounts of U.S. households, especially those least able to afford losses due to potential fraud and manipulation prevalent in the spot BTC markets and its subsequent impact on the Exchange-Traded Products (ETPs).

“The global spot markets underlying the Bitcoin ETPs are marred by fraud and manipulation, concentrated, and without adequate oversight.”

Nonprofit Economic Organization, Better Markets, Criticizes Bitcoin ETF Approval

Better Markets, a nonprofit economic organization, did not hold back in expressing its criticism of the recent decision to approve BTC exchange-traded funds (ETFs). The organization labeled the digital asset as intrinsically worthless and lacking purpose.

In a post to X on January 10, Better Markets criticized the U.S. Securities and Exchange Commission’s (SEC) decision, asserting that the approval did not alter the nature of what it deemed a “worthless financial product.” 

The organization maintained its stance that BTC and cryptocurrencies still lack legitimate use, remaining attractive primarily to speculators, gamblers, predators, and criminals. The post emphasized ongoing concerns about fraud, manipulation, and criminal activities associated with the crypto markets.

CEO Dennis Kelleher of Better Markets had previously penned a letter to the SEC five days prior, urging the regulatory body to reject Bitcoin ETF applications. Kelleher argued that these products would likely result in significant harm to investors.

Renowned crypto skeptic Stephen Diehl also shared his perspective on Bitcoin shortly after the approval, characterizing the cryptocurrency as emblematic of “serfdom, stagnation, and subjugation to the tyranny of the discredited ideas from the middle ages.” Diehl favored fiat currencies over Bitcoin.

Adding to the dissenting voices, gold advocate and Bitcoin critic Peter Schiff remarked that the approvals merely provided new avenues for speculators to gamble on Bitcoin. Schiff expressed disappointment in Bitcoin’s lack of real-world utility compared to gold.

Interestingly, even within the cryptocurrency community, there were individuals disappointed with the approvals. Crypto researcher and decentralization advocate Chris Blec argued that the introduction of institution-driven ETFs could jeopardize the decentralized essence of the Bitcoin network over the long term.

XRP ETF Anticipated Post Bitcoin Approval, Affirms Valkyrie’s Investment Chief

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XRP’s potential approval for exchange-traded funds (ETFs) is hinted by Steve McClurg, Chief Investment Officer of Valkyrie Funds. In a recent interview with Bloomberg, McClurg shared his anticipation that the launch of Bitcoin spot ETFs might pave the way for the approval of Ethereum or XRP ETFs. He stated, “So, it wouldn’t surprise me if we saw Ripple or Ethereum spot ETFs out there.”

This forecast coincides with the imminent approval of Valkyrie’s Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC), with trading anticipated to commence as early as Thursday. Despite this, McClurg remains uncertain about Valkyrie’s potential launch of Ethereum or Ripple ETFs, noting, “I really don’t know if we’re going to do that or not.”

XRP’s Role In McClurg’s Optimism For Ethereum And Ripple ETFs

McClurg’s optimism regarding the prospect of Ethereum and Ripple ETFs is rooted in recent market trends. He highlighted Grayscale’s inclusion of XRP in one of its publicly traded trusts as evidence of a growing interest in diversified cryptocurrency investment products.

While Valkyrie has not officially confirmed plans for these specific ETFs, McClurg believes the market is conducive to such offerings. He stressed that these potential ETFs could cater to a more retail-oriented audience, offering easier access to a broader range of investors less entrenched in the cryptocurrency market.

However, McClurg cautioned that the SEC’s decision-making process is unpredictable, and approval is never guaranteed. Despite Valkyrie’s readiness to launch its Bitcoin ETF, McClurg remains cautiously optimistic, acknowledging the inherent uncertainties in the regulatory landscape. 

He stated, “We’re prepared for an effective date on Wednesday and trading on Thursday, but we know that anything can happen. So I’m about 95% sure that we will be trading on Thursday.”

Dogecoin’s Price Could Surge Above $0.09000, Potentially Gaining 10%

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Dogecoin (DOGE) appears poised for a potential recovery following an extended period of decline. The market is closely watching the US Securities and Exchange Commission (SEC) in anticipation of a favorable decision regarding the approval of spot Bitcoin exchange-traded funds (ETFs).

The prospects for Dogecoin’s price resurgence are heightened, especially if the SEC greenlights the launch of spot Bitcoin ETFs. This positive development could lead to capital inflows from the Bitcoin market into altcoins with significant market capitalization, including Dogecoin.

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Dogecoin's Price Could Surge Above $0.09000, Potentially Gaining 10% 5

Notably responsive to Bitcoin’s price movements in the past, DOGE is currently showing signs of a recovery, finding support at $0.07520. The uptrend is evident in the rising Relative Strength Index (RSI) and the increasing Average Directional Index (ADX), indicating growing momentum and trend strength, respectively.

Dogecoin’s Potential Ascent And Bearish Warning Signals

Should buyer momentum continue to strengthen, DOGE’s price may surpass the $0.08753 resistance, potentially flipping the descending trendline into a support. This could result in a 10% ascent, creating opportunities for further upward movement.

In a bullish scenario, Dogecoin could venture into the supply zone ranging from $0.09658 to $0.10210. To validate the continuation of the intermediary trend, a candlestick close above the $0.09934 midline within this order block is essential.

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Dogecoin's Price Could Surge Above $0.09000, Potentially Gaining 10% 6

In more optimistic scenarios, Dogecoin’s price might turn the supply zone into a bullish breaker, potentially reaching the $0.10730 range high. However, caution is warranted, as the Awesome Oscillator (AO) indicator in negative territory suggests the presence of a bearish pull in the DOGE market. If bullish efforts falter, a breach below the $0.07520 support could lead to a more substantial decline, with the $0.07000 psychological level as a potential target.

Shiba Inu Unleashes 85 Million SHIB Rewards For Stakers In The Next Four Months

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In a recent Twitter/X announcement, Lucie, the marketing lead for Shiba Inu, addressed the SHIB community, unveiling an opportunity for enthusiasts to earn SHIB and LEASH tokens. Lucie revealed plans to distribute nearly 90 million Shiba Inu and several LEASH tokens in the coming months.

As per Lucie’s tweet, the ShibaPunkz decentralized application (dApp) for staking has undergone updates, leading to significant rewards for stakers. Over the next four months, stakers utilizing the ShibaPunkz dApp will receive 2 LEASH tokens and an impressive 85 million SHIB coins.

Shiba Inu’s ShibaPunkz.art Unveils Diverse NFT Staking Rewards

ShibaPunkz.art is the platform for staking Shiba Inu-themed NFTs from the ShibaPunkz NFT collection, initially launched on the Shibarium blockchain. The official token on this dApp is SPUNK, allowing stakers to earn SPUNK tokens as rewards. Lucie also announced including the Shibarium rewards tokens LEASH and SHIB for users on the platform.

Staking has gained popularity in the cryptocurrency industry to earn passive income, where users lock their cryptocurrencies for a specific period, receiving rewards in return. The latest report from the Shibburn tracker reveals a decline in the SHIB burn rate despite a claimed victory on Friday. In the last 24 hours, the Shiba Inu community burned only 2,465,619 SHIB meme coins, resulting in a 52.62% decrease in the overall burn rate.

Among the five burn transactions, the largest involved the transfer of 1,571,812 SHIB to a non-retrievable blockchain address. The smallest transfer contained less than one SHIB token. Friday’s burn rate surge by 2,274% indicates ongoing dynamics in the Shiba Inu community’s efforts to control the circulating supply of SHIB.

Starting from Wednesday, the second-largest meme-based cryptocurrency, SHIB, has seen a market value decline of over 11%. On that day, a 14% decrease was linked to Bitcoin’s crash triggered by an article from Matrixport predicting the likely SEC rejection of various Bitcoin spot ETF filings. Despite a 10% surge on Friday, SHIB faced a subsequent 6% decline, returning its price to the initial Wednesday level.

BlackRock Mobilizes $2 Billion Reserve For Spot Bitcoin ETF Ahead Of SEC Decision

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The globally renowned investment management behemoth BlackRock has meticulously orchestrated its stance and operations in anticipation of the impending launch of spot Bitcoin ETFs within the United States. As the U.S. Securities and Exchange Commission (SEC) approaches a pivotal decision, BlackRock has astutely maneuvered its strategies to align with this transformative moment in the financial landscape.

BlackRock emerged as one of the foremost contenders, actively meeting the SEC’s stringent criteria and discussing potential approval. In a recent X post, Van Eck’s Head of Digital Assets Research, Matthew Sigel, divulged that BlackRock has mobilized a substantial $2 billion capital reserve. This reserve is poised to funnel into its ETF, attracting existing Bitcoin holders keen on transitioning into the spot Bitcoin ETF in its inaugural trading week.

Analysts foresee this maneuver as an initial step to catalyze and amplify trading momentum. Looking ahead, BlackRock aims to implement a calculated approach by capitalizing on the demand generated through its iShares spot Bitcoin ETF, strategically positioning itself for responsively accumulating BTC.

BlackRock’s Role In Pending SEC Decision On Bitcoin ETF

The timing coincides with widespread anticipation surrounding the SEC’s verdict on the spot Bitcoin ETF, which is expected around January 9 or 10, 2024. Bloomberg analysts have hinted at January 11, 2024, as a potential launch date, indicating that SEC officials are diligently preparing the applicants for this groundbreaking event. The SEC faces a critical deadline on January 10, 2024, to approve the Ark 21Shares Bitcoin ETF, adding to the mounting anticipation and significance of forthcoming regulatory determinations.

Previously, several industry heavyweights, including BlackRock’s iShares, Valkyrie Bitcoin Fund, Bitwise, Grayscale, Hashdex, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Franklin Templeton, and ARK 21Shares, submitted 19b-4 amendments for their ETF applications. These submissions mark the final stages preceding the SEC’s official endorsement for the inaugural spot Bitcoin ETF in the United States.

BlackRock’s proactive measures, geared towards preparing significant capital reserves and actively collaborating with the SEC, emphasize the heightened anticipation and enthusiasm encircling the imminent introduction of the inaugural spot Bitcoin ETF. This event holds the potential to profoundly reshape and redefine the landscape of cryptocurrency investments within the intricacies of the U.S. financial markets.

Bitcoin Rebounds With $2.5 Billion Influx Amidst ETF Speculations

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In a remarkable turn of events, Bitcoin (BTC) has undergone a swift resurgence, shaking off its recent losses and heralding a revitalized wave of investor confidence amidst a surge of new capital pouring into the market. Bitcoin is trading at $43,722, successfully paring its losses from over 4% earlier in the day to a marginal increase of  0.20%.

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Source: TradingView

In a recent X post, renowned crypto analyst Ali Martinez disclosed a staggering $2.5 billion capital infusion into the crypto market, marking a substantial upswing in sentiment following the recent market tumult. Although not immediately evident, this influx of funds has sparked a palpable resurgence, reinvigorating market sentiment, as highlighted by Martinez.

Bitcoin’s Resilience Amidst ETF Speculations

Despite the lingering concerns triggered by the Matrixport report, which alludes to the possible rejection of spot Bitcoin Exchange Traded Fund (ETF) applications by the United States Securities and Exchange Commission (SEC), Bitcoin has impressively showcased a significant surge in positive 30-day capital inflows. This surge has been highest since early October, reinforcing investors’ escalating enthusiasm and interest within the dynamic crypto market landscape.

While Bitcoin continues to lead the charge in the market, the landscape for other altcoins paints a diverse picture. Ethereum (ETH) remains negative, marking a decline of 0.60% and resting at $2,250. Likewise, Binance Coin (BNB) suffered a 5.44% drop, stabilizing at $305, while XRP observed a 1.46% decrease, sliding down to $0.5703.

In contrast, mid-cap tokens like Rocket Pool (RPL) surged by 4.7% to reach $29.53, and FTX Token (FTT) experienced a 1.59% uptick, achieving $2.86. This distinction underscores the divergence in performance among listed tokens, indicating that not all assets necessarily mirror or follow the market trajectory Bitcoin sets.

Fueled by the substantial influx of capital, Ali Martinez maintains an optimistic outlook, interpreting this surge as a clear resurgence in investor trust within the market. Paired with emerging indications suggesting the potential approval of a spot Bitcoin ETF, Martinez anticipates a robust and enduring market recovery, heralding a promising phase for crypto enthusiasts on the horizon.

SEC May Signal Bitcoin ETF Launch Decision Next Week: Report

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In a significant and pivotal maneuver, the U.S. Securities and Exchange Commission (SEC) is anticipated to initiate contact with issuers within the upcoming week. As per a recent report, this proactive step signifies a potential decision concerning the approval to launch Bitcoin spot exchange-traded funds (ETFs) possibly as early as Tuesday.

The anticipated approval of spot Bitcoin ETFs, a potentially transformative move within the cryptocurrency realm, has drawn the attention of several prominent asset management firms. On Friday, leading applicants, including Invesco Galaxy, WisdomTree, Fidelity, BlackRock, Valkyrie, and Bitwise, submitted updated filings to the SEC, raising hopes for an imminent decision from the regulatory body.

SEC Decision Looms Amid Critic Concerns

Insiders knowledgeable about the industry’s operations suggest that companies aligning with the adjusted filing timeline could be preparing to introduce their ETFs in the upcoming week. This timeframe gains heightened importance due to the imminent SEC decision slated for January 10 regarding the approval or denial of the Ark 21Shares ETF.

Despite the enthusiasm surrounding these filings, critics have raised concerns. Crypto analyst and influencer Max Keiser expressed skepticism, warning about the proposed “13 Bitcoin cash-in, cash-out ETFs” susceptibility to manipulation by Wall Street figures like Jamie Dimon. Keiser’s comments, posted on X, drew quick dismissals within the crypto community, with some questioning his grasp on ETF dynamics.

On the flip side, advocates believe that the approval of Bitcoin spot ETFs has the potential to bolster the credibility and accessibility of cryptocurrencies significantly. It’s worth noting that several applicants made public disclosures naming Jane Street and JPMorgan as their Authorized Participants (APs), a strategic move perceived to carry substantial weight in influencing regulatory decisions within the cryptocurrency market landscape.

The industry remains poised for a decision from the SEC, with stakeholders eagerly anticipating the outcome. Approval could mark a significant leap forward for the crypto sector, potentially shaping its trajectory while opening doors to a wider investor base. However, the debate over these ETFs’ impact, susceptibility to market manipulation, and potential role in legitimizing cryptocurrencies continues to divide opinions within the financial and crypto communities.