Big Names Talk Potential Impact of ETFs on BTC Price, Solo Miner Pulls Down Lucky Block Reward, and More — Week in Review

Global funding financial institution JPMorgan has famous that SEC approval of a spot bitcoin exchange-traded fund (ETF) may “put extreme downward strain on bitcoin costs.” Conversely, Standard Chartered Bank sees “value upside” associated to such an approval from the United States Securities and Exchange Commission. In different information, a solo bitcoin miner has snagged a block reward with simply 0.0004% of the community’s hashpower. This and extra slightly below, within the newest Bitcoin.com News Week in Review.

JPMorgan: Spot Bitcoin ETFs Could Put ‘Severe Downward Pressure on Bitcoin Prices’

Global funding financial institution JPMorgan has cautioned that the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) may “put extreme downward strain on bitcoin costs.” The financial institution’s analysts estimate that billions of {dollars} may exit the crypto market after Grayscale Investments converts its bitcoin belief (GBTC) right into a spot bitcoin ETF.

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With Just 0.0004% of Bitcoin’s Hashpower, Solo Miner’s 2 PH/S Effort Secures Block Reward

On November 26, 2023, a stroke of exceptional luck befell a solo miner after they found block 818,588, verifying a complete of 4,193 transactions. This achievement garnered the miner a complete of 6.887 BTC, inclusive of the 6.25 BTC subsidy and transaction charges.

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Standard Chartered Anticipates Bitcoin Reaching $100,000 Sooner Than Expected

Standard Chartered Bank has doubled down on its bitcoin value forecast of $100,000 subsequent 12 months with elevated optimism on the timing. “We now anticipate extra value upside to materialize earlier than the halving than we beforehand did, particularly by way of the earlier-than-expected introduction of U.S. spot [bitcoin] ETFs,” the financial institution’s analyst described.

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Blackrock Pushes to Use In-Kind Creation Method for Spot Bitcoin ETF: Report

Blackrock, the world’s largest asset supervisor, has reportedly pushed for utilizing the in-kind creation technique for its bitcoin exchange-traded fund (ETF), diverging from the money creation mannequin favored by the U.S. Securities and Exchange Commission (SEC). According to reviews, Blackrock and different spot bitcoin ETF candidates just lately met to debate their purposes with the SEC.

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What impact do you anticipate spot bitcoin ETFs to have on crypto costs? Be positive to tell us within the feedback part under.