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Jay Clayton's Bitcoin Bombshell: ETF Approval "Inevitable"!

The former SEC chair is convinced that a Spot Bitcoin ETF approval is a matter of 'when' not 'if'.

Author

Danielle du Toit
January 09, 2024

Here's what we've got for you today:

  • Bitcoin ETF Approval an Inevitability, Says Former SEC Chair

  • Solana’s JTO and BONK Make Their Debut on OKX Exchange

  • ProBit Global Lists Limoverse’s Native Token LIMO on its Platform

  • Standard Chartered Tips $200K Bitcoin by Late 2025 if ETFs Approved

Bitcoin’s market sentiment score has entered the “extreme greed” zone after Jay Clayton stated that a Spot Bitcoin ETF approval is inevitable.

  • Former SEC Chairman Jay Clayton stated in a CNBC interview that the approval of a Spot Bitcoin ETF is "inevitable,".

  • The Crypto Fear & Greed Index has surged to 76/100, indicating a level of optimism not seen since November of 2021 when Bitcoin was near its all-time high of $69,000.

  • The North Korean hacker group known as the Lazarus Group has reared its head, moving over $1 million in Bitcoin on Jan. 8 after being inactive for some time.

Many people are still optimistic about the potential of Solana (SOL) and its meme coins despite the fact that the ecosystem has lost some of its December 2023 momentum.

  • OKX announced that it has listed two Solana blockchain tokens: Jito (JTO) and the dog-themed token Bonk (BONK).

  • Despite its initial success, BONK's value sharply declined by over 70% from its December peak, even after being listed on several popular exchanges.

  • In an exciting development for Solana enthusiasts, Crypto.com has launched a promotional campaign specifically aimed at benefiting Solana stakers.

Cryptocurrency trading platform ProBit Global announced the addition of LIMO to its listings. LIMO is the core token of Limoverse, an innovative blockchain ecosystem centered on health and wellness.

  • LIMO token trading has started on ProBit Global, offering over 2 million users the ability to buy, deposit, withdraw, and trade, which is expected to boost activity in Limoverse's preventative healthcare sector.

  • ProBit Global is also encouraging engagement with a series of marketing activities, including a trading competition, alongside the LIMO listing.

  • Limoverse has successfully connected more than 500 wellness providers with users through its app and metaverse, utilizing the LIMO token for accessing wellness resources and supporting community and networking initiatives.

Standard Chartered forecasts that Bitcoin (BTC) might reach a value close to $200,000 by the end 2025 if Bitcoin ETFs get approved in the United States.

  • Standard Chartered's BTC price prediction of nearly $200,000 by end of 2025 is based on the expectation that U.S.-listed spot Bitcoin ETFs will hold between 437,000 to 1.32 million BTC, translating to $50-100 billion in inflows.

  • To reach this prediction, BTC would need to increase by 4.3 times from its current price around $47,000.

  • The bank's executives compared this scenario to the gold market, noting that the value of gold increased by a similar factor of 4.3 within seven to eight years after the launch of gold ETFs in November of 2004.

👀 QUICK NEWS

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