FameEX Morning Crypto News Recap | January 8, 2024

SEC Raises 'Fear of Missing Out' Alert Prior to Decision on Spot Bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) cautioned investors against the fear of missing out (FOMO). The SEC highlighted that just because others invest in something doesn't make it suitable for everyone. They pointed out the surge in online investing and the growth of digital assets and meme stocks, emphasizing the complexity and potential overwhelm in understanding these investment types.

Blackrock Anticipates SEC's Approval of Spot Bitcoin ETF on Wednesday

Blackrock, the world's biggest asset manager, anticipates approval from the U.S. Securities and Exchange Commission (SEC) for its Ishares Bitcoin Trust, a spot bitcoin exchange-traded fund (ETF), on the upcoming Wednesday. Reports indicate that Blackrock has prepared over $2 billion in capital for the launch of its spot bitcoin ETF.

Ex-Citi Executives Debut New Bitcoin Offering That Circumvents SEC Approval Requirements

A team of ex-Citigroup executives has launched a novel cryptocurrency product named bitcoin depository receipts, designed to bypass registration with the U.S. Securities and Exchange Commission (SEC). This innovative offering is intended to complement spot bitcoin exchange-traded funds (ETFs), which are anticipated to receive approval from the SEC early next week.

Worries Grow About Possible SEC Disapproval of Spot Bitcoin ETFs, Expert Offers Insights

Fears of the U.S. SEC possibly rejecting spot bitcoin ETFs have surfaced following Better Markets' call for their rejection, citing potential "financial carnage" and extensive investor harm. A decision from the SEC is due early next week, with trading of these ETFs potentially commencing by January 11.