- Australia is the next of many countries to embrace Spot Bitcoin ETFs.
- Crypto market expansion is on the rise and Hong Kong will launch its crypto ETFs today.
- Russia announces plans for total Bitcoin ban and will only use Digital Rubles.
Massive inflows and bullish waves are coming for Bitcoin (BTC) and the larger crypto market. In particular, a popular crypto analyst Ash Crypto contributes a few of the latest reasons behind these bullish waves.Â
Read CRYPTONEWSLAND on
google news
To start off, Ash Crypto highlights how Australia is set to officially approve Spot Bitcoin Exchange-Traded Funds (ETFs) this year, according to Bloomberg. This move certainly contributes to a significant step forward for the crypto industry as Australia embracing this technology shows how far Bitcoin’s reach has progressed.
At the same time, Hong Kong is on schedule to launch its Bitcoin and Ethereum Spot ETFs which are confirmed to launch on April 30, 2024. As the clock ticks by, anticipation builds as the crypto sector eagerly awaits the massive inflows that will likely flood in from the Hong Kong markets. In fact, about $300 million is expected to come in as funds from just the inaugural day alone.
Meanwhile, Ash Crypto goes on to highlight the success of Bitcoin ETFs in the USA. The country witnessed an excellent start in their Bitcoin ETF mission as it saw a massive issuance of $125 million on day one. The growing frenzy of crypto ETFs is infectious across the globe.
While the majority of the world embraces the success of crypto ETFs, Russia doubles down to hinder its adoption. Despite bullish sentiments, geopolitical strife has led to Russia announcing its plan for a total Bitcoin ban. Ash Crypto says Bitcoin has the potential to replace the Ruble and Russian authorities’ way to combat that happening is to stick to accepting only Digital Rubles.
Indeed, it is a challenging time for cryptos to rise above their old ATHs. However, we have just entered the golden bull run season and most cases are highly bullish. With the successful completion of the Bitcoin Halving event, the crypto community practices patience and await their highly anticipated bull run.
Read Also
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
