The SEC Approved The First Spot Bitcoin ETF's

Good morning Saucy people, Bitcoin ETF’s have been rolled out

Trending over the past 24 hours 👇️ 

1. ✅ Bitcoin SEC Approval: The SEC approved Bitcoin ETFs, allowing traditional investment in Bitcoin.

2. 📈 Ethereum's Price Surge: Ethereum hits a 19-month high, impacting prices of tokens like LDO, RPL, and others. 

3.  📱India Blocks Crypto Exchanges Apple App Store Blocks Several Crypto Exchange Apps in India

Bitcoin SEC Approval

The SEC (Securities and Exchange Commission) has finally approved several Bitcoin ETFs (Exchange-Traded Funds), which means that investors can now buy and sell shares of these funds, which track the price of Bitcoin.

This could lead to more institutional investors getting involved in the crypto market, as they can now invest in Bitcoin through a more traditional financial instrument. This might also increase the overall confidence in Bitcoin and other cryptocurrencies, potentially leading to more widespread adoption.

According to Bloomberg's forecasts, these ETFs are expected to attract an impressive $4 billion in investments on their initial trading day, including a significant $2 billion contribution from BlackRock.

Ethereum hits a 19-month high📈

Ethereum’s price soars past $2,600, an 8% jump amid the Bitcoin ETF buzz. The crypto community is abuzz, as Ethereum could be next for ETF approval. Should a Bitcoin ETF pass, Ether may target $2,800, a 15% hike.

However, if Ethereum falls below the $2,135 support, the bullish view weakens. This uptrend in Ethereum is happening while the crypto world eagerly awaits potential Bitcoin ETF approvals. The market is optimistic, hoping the SEC will also greenlight an Ethereum ETF soon.

With big players like Valkyrie and others in play, Ethereum shows robust on-chain metrics and bullish technical signs, hinting at more gains.

Apple App Store Blocks Several Crypto Exchange Apps in India

Apple’s App Store in India has taken significant action against numerous crypto exchanges, following a noncompliance notice from the Indian government. Here’s a brief overview:

Blocked Exchanges: The App Store has blocked several key crypto exchange apps including:

1. Binance

2. KuCoin

3. Bitget

4. Huobi

5. OKX

6. Gate.io

7. MEXC

Reason for Blocking: This decision comes after the Indian Ministry of Finance’s Financial Intelligence Unit issued noncompliance notices to these exchanges, demanding them to register as “reporting entities” in India.

Impact and Alternatives: While these apps are now inaccessible to new users in India on the App Store, they remain available on Google’s Play Store and their web versions. The move has caused concerns among Indian crypto users due to the government’s strict tax regime on crypto trades.

Regulatory Demands and Response: The Indian government’s stance aligns with its call for global collaboration on crypto regulation. However, a comprehensive regulatory framework is still awaited. In response, CoinDCX’s founder has suggested a transition plan for investors from noncompliant to compliant exchanges.

Meme of the day

The Sec is going to investigate the SEC about market manipulation

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