108 replies to this topic

[dTraderB]

Eric Balchunas (@EricBalchunas) posted at 7:17 AM on Thu, Jan 11, 2024:

$IBIT has already traded $2m worth of shares traded. That would be a great first FULL day for a normal ETF let alone at 6am bf mkt, BUT.. this volume is likely BlackRock orchestrated, slowly loading in the BYOA $ it had lined up. Still tho good early sign of big day.
https://t.co/IV19iHfqYB
(https://x.com/EricBa...5336301810?s=03)

Am considering trading one of these which one?
11 Bitcoin ETPs approved by SEC, as Gensler calls BTC non-security
Bitcoins price was little changed, as the news appeared to be priced in.

ETP providers are promising fees as low as 0%, vs. 1.5% for Grayscales Trust"

The issuers are BlackRocks iShares Bitcoin Trust, Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETP Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin ETF, Valkyrie Bitcoin Fund, Hashdex Bitcoin ETF and Franklin Bitcoin ETF. Six of the ETFs will be listed on Chicago Board Options Exchange (CBOE), three will be on the New York Stock Exchange (NYSE) and two will trade on Nasdaq.

The issuers fees range from as low as 0.2% to as much as 1.5%. ARK and 21Shares, BlackRock, Bitwise, Fidelity, WisdomTree, Valkyrie and Invesco and Galaxy are doing introductory waivers with zero fees (aside from BlackRock at 0.12%) for a limited time.

After the SEC approval, Bitcoins price was slightly higher on the day, around $45,700, and is up 161.7% from the year-ago date, according to CoinMarketCap data.

https://techcrunch.c...ot-bitcoin-etf/

[dTraderB]

Looks ok.... a top 5 contender for me:

https://www.ishares....vest-in-bitcoin

[dTraderB]

Still BELOW ZERO?
https://www.mcoscill...t_breadth_data/

[dTraderB]

https://www.marketin...llan-oscillator

Still BELOW ZERO?
https://www.mcoscill...t_breadth_data/

[dTraderB]

"Key developments that should provide more direction to U.S. markets later on Thursday:
U.S. Dec consumer price inflation report, weekly jobless claims, Dec Federal budget
Richmond Federal Reserve President Thomas Barkin speaks
U.S. Treasury auctions $21 billion of 30-year bonds, 4-week bills
U.S. secretary of state Antony Blinken visits Egypt to meet Egyptian President Abdel Fattah al-Sisi
If consensus prevails, the CPI report should keep all happy and 'core' inflation is expected to have fallen below 4% for the first time since May 2021 - clocking 3.8% for December - even if annual base effects lift the headline a tick to 3.2%.



And Fed futures traders remain confident in penciling in more than 140 basis points of policy easing for the year - with more than two-quarter point cuts seen by mid-year. The dollar was on the back foot again.



Too much, too soon? New York Fed chief John Williams certainly seemed to think so, saying late Wednesday that "our work is not done".



Without specifying exactly what a 'restrictive' policy stance amounts to - something of a slippery concept for many in markets - Williams said the Fed needed to hang tough "for some time."



U.S. stock futures and Treasuries were buoyed early Thursday going into the data release."

[dTraderB]

"Jamie Dimon slams bitcoin (again). The JPMorgan boss reiterated his stance that cryptocurrency is worthless, deriding it as a tool for criminals. Dimon also warned that a recession could hit this year."

Looks ok.... a top 5 contender for me:

https://www.ishares....vest-in-bitcoin

[dTraderB]

"Tech layoffs have come back. Duolingo laid off workers to lean more on AI. Meanwhile, Amazon is laying off several hundred employees across Prime Video and Amazon MGM Studios. Internal messages suggest there were also layoffs in Amazon Pay and marketing. Twitch is similarly cutting 500 jobs, and Instagram is slashing an entire level of management."

[dTraderB]

"In many ways, the new ETFs are similar to the gold ETFs that emerged in the early 2000s and became a popular way to invest in the precious metal. Instead of buying physical bars of gold, investors could buy shares in a gold fund through their brokerage, just like buying stocks.

Similarly, the new spot bitcoin ETFs are designed to make it easier to buy bitcoin. You wont need to set up a digital wallet and memorize your keys, and you wont need to create an account at a crypto exchange. You can just use the same brokerage account that you might already use to trade stocks, bonds and other ETFs."

"Jamie Dimon slams bitcoin (again). The JPMorgan boss reiterated his stance that cryptocurrency is worthless, deriding it as a tool for criminals. Dimon also warned that a recession could hit this year."

Looks ok.... a top 5 contender for me:

https://www.ishares....vest-in-bitcoin

[redfoliage2]

Well, in the after hours it seems traders are expecting tomorrow's CPI will be good for the market ........................

Maybe just a setup for selling upon CPI......................................

[dTraderB]

NQ 16925 HEDGE LONG

2 NQ & 1 ES