Check out the top three Guru-Investingstories from the past day.
Check out the top three Guru-Investingstories from the past day.
SEC Officially Approves Bitcoin Spot ETFs
In a crucial development for the cryptosphere, the SEC has officially approved several spot Bitcoin exchange-traded funds (ETFs). Thanks to these ETFs, investors will be able to gain exposure to Bitcoin without the complexities of direct ownership. James Seyfart, ETF analyst, shared the list of 11 trusts whose submissions have been approved; Among others, the list includes Grayscale Bitcoin Trust, Bitwise Bitcoin ETF, and Hashdex Bitcoin ETF. BTC price seemed to remain unperturbed right after news of the approval; However, later today, the largest cryptocurrency managed to rise to the high of $47,000. At the time of writing, Bitcoin is trading at $48,108, up 6.45% in the last 24 hours.
Dogecoin (DOGE) shines as Elon Musk’s X prepares to launch P2P payments
According to the latest publication on the X platform official blog, will launch peer-to-peer payments this year; the option was among the company’s other areas of focus for 2024. As noted in the post, the payments would unlock “more user utility and commerce opportunities.” The crypto community’s attention is now focused on Dogecoin (DOGE), as Elon Musk, the owner of the X platform, has endorsed the dog-themed coin on numerous occasions, saying that it is more suitable for payments than Bitcoin (BTC). However, details on how peer-to-peer payments will work on X and when they will officially launch are unknown.
Ripple starts massive buyback
As Ripple Labs recently announced, is repurchasing a substantial amount of its shares. According to two anonymous sources cited by Reuters In its report on Wednesday, the company will buy back $285 million worth of shares from early investors and employees. The share buyback is Ripple’s strategic action aimed at strengthening investor confidence and affirming its financial stability. Investors can only sell up to 6% of their stake during a buyback. This restriction is a smart approach to maintaining a balanced share structure. This is not the first time Ripple has ventured into buybacks. As of early January 2022, the company had previously repurchased shares issued after raising $200 million in financing in 2019.
