#bitcoin

Harvest Fund Management, Bosera Asset Management, and China Asset Management have secured approval from the Hong Kong regulator to launch spot ETFs for Bitcoin and Ethereum.

VanEck CEO Jan van Eck is championing a shift in focus towards decreasing transaction fees on Ethereum and Bitcoin, rather than pushing for another spot ETF. He argues that the unpredictable and often high fees significantly hinder both app developers and end-users.

Goldman Sachs' asset management investment chief, Sharmin Mossavar-Rahmani, revealed the bank's decision against introducing crypto services, attributing this to client disinterest and the challenge of assessing Bitcoin's genuine value.

Coinbase CEO Brian Armstrong has acknowledged the need for increased investment in the platform's infrastructure, as some users have encountered issues during significant market fluctuations. For example, at the end of February, they experienced difficulties executing trades as the price of Bitcoin surged drastically.

Standard Chartered has raised its Bitcoin price forecast, now expecting it to hit $150,000 in the short term and escalate to $200,000 within two years. The anticipated surge is primarily attributed to a potential influx of investments into American spot Bitcoin ETFs.

Despite considerable trading activity and appeals from some prominent clients, Vanguard, the asset management company, persists in its refusal to add Bitcoin ETFs to its investment product lineup.

American spot Bitcoin ETFs are set to become accessible to Indian users through the Mudrex cryptocurrency investment platform, backed by the venture capital fund Y Combinator. Initially, only the four most popular ETFs from BlackRock, Fidelity, Franklin Templeton, and Vanguard will be offered for sale.