Crypto Update: ETFs on the horizon?
Cryptocurrency analyst, Saxo Bank
Summary: The big question in the cryptocurrencies space continues to be the potential arrival of exchange-traded funds. New developments at the SEC point to increased support for a Bitcoin ETF. Meanwhile XRP prices could see gains from parent company Ripple's development of its cryptocurrency product for commercial application.
SEC commissioners favour Bitcoin ETF
Hester Pierce, a US SEC commissioner also known as CryptoMom, believes that the SEC should not look at the underlying Bitcoin markets when looking to approve a Bitcoin ETF, but at the ETF itself and the exchange on which it would trade. Furthermore, the addition of Elad Roisman to the commission helps increases the number of commissioners in favour of a Bitcoin ETF. Now the commission only needs one more vote to have a majority in approval of an ETF. However, the decision could be delayed as far as Q1 of next year.
Ripple to launch cryptocurrency product
Distributed ledger-based company Ripple is set to launch its cryptocurrency product, xRapid, for commercial application soon. This announcement by a head of regulatory relations for the company is largely responsible for the increase in XRP price over the last few days. This news could continue to drive XRP prices higher especially as we head towards Ripple’s annual conference at the beginning October. Afterwards investors can expect the lustre of XRP to wear off after the launch of xRapid and any announcement during the conference.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
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Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.