News Formal

The crypto industry is not dead yet. BlackRock is about to revive it, says Bernstein

  • 📰 CNBC
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

If you think crypto is dead, think again, says Bernstein's digital assets analyst.

The price of bitcoin has fallen 5.8% over the past six months, according to CoinMetrics, and the flagship crypto has failed to hold onto any significant gains tied to positive catalysts as of late. However, Bernstein says the crypto industry is alive and well — even if the price isn't reflecting that.

Circuit sided with crypto investment giant Grayscale against the SEC, which had denied the company's application to convert its Grayscale Bitcoin Trust into an exchange-traded fund. Other factors are boosting crypto's prospects, including various applications by institutions for a spot bitcoin ETF. BlackRock , Fidelity , Franklin Templeton and Invesco are among the largest names attempting to launch bitcoin ETFs.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in AU

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bernstein says investors should take profits in pricey tech stocks such as Nvidia and these othersMegacap technology stocks have led most of the 2023 market rally, and it might be time to take some chips off the table, according to Toni Sacconaghi.
Source: CNBC - 🏆 12. / 72 Read more »