New Bitcoin ETF is approved on U.S. and the market recovers

BitcoinBitcoin is the first decentralized digital currency. It was created in 2009, by an anonymous founder or group of founders... More (BTCAn abbreviation for Bitcoin.) and the whole cryptocurrencyA digital currency running on a blockchain and built with cryptography. Contrary to central-bank issued currency, cryptocurrency issuance rules are... market started a bearish 2022. However, that’s changing now, probably because a new Exchange-Traded Fund (ETF) based on Bitcoin was just approved in the United States. To be more specific, the Valkyrie Bitcoin Miners ETF (WGMI) will be listed on Nasdaq by February 8, 2022.

This new ETF won’t handle any Bitcoin or take its value as a reference, though. Instead, the fund will invest in public companies dedicated to the Bitcoin mining industry —that’s why the name. Additionally, the companies inside the portfolio have to use around 77% of renewable energy to make their activities. This factor comes due to the general concerns about the environmental impact that Bitcoin (and other cryptos) could bring.

Among the companies included on the ETF’s portfolio are Argo BlockchainBlockchain is a type of database storing an immutable set of data, verifiable to anyone with access to it —through... (ARBK), Bitfarms (BITF), Cleanspark (CLSK), Hive Blockchain (HIVE), Stronghold Digital Mining (SDIG), Marathon Digital (MARA), Bit Digital (BTBT), and Digihost Technology (DGHI). Not all of them are from America but also come from the United Kingdom and Canada.

Valkyrie also launched the Bitcoin Strategy ETF (BTF) on Nasdaq last year, just after the first-ever Bitcoin ETF by ProShares. Both of them are based on Bitcoin futures contracts, so, WGMI would be the first one focused on Bitcoin mining in the country. As a result, BTC raised by over 15% in the last week, reaching $44,000 per coin again [CoinMarketCap].

Likewise, the whole cryptocurrency market is returning to a bullish zone, with an increase of over 13%. Big gainers are Shiba Inu (52%+), XRP (37%+), Zcash (33%+), Axie Infinity (27%+), and Litecoin (25%+). According to the Crypto Fear & Greed Index, we’re now on a “Neutral” but almost “Greedy” market.

XRP and Shiba Inu are on rally

Beyond Bitcoin, there is some good news for XRP and SHIB holders. In the first case, after a very long court case, the battle between Ripple and the U.S. Securities and Exchange Commission (SEC) may be coming to an end. Judge Analisa Torres ordered the unsealing of some confidential documents from Ripple but also conceded them the right to go on with their fair notice defense.

For Jeremy Hogan, partner at law firm Hogan & Hogan, this could imply a soon verdict, after over a year in the court. As a result, XRP raised by over 37% in the last week, and it’s now valued at $0.86 per coin.

Meanwhile, the team behind SHIB partnered with the American fast-food chain Welly’s to bring Shiba coin-themed products and Non-Fungible Tokens (NFTs) for their customers. For its part, the crypto company Bigger Entertainment is making “burning parties” to drastically reduce the total SHIB supply and increase its value.

The next one will be for Valentine’s Day (Feb. 14), and the participants can either buy burning tickets at $5, get custom merch and Twitter space, or only hear some playlists.

Wanna trade BTC, XRP, and other tokens? You can do it safely on Alfacash! And don’t forget we’re talking about this and a lot of other things on our social media.

Twitter * Telegram * Instagram * Youtube *Facebook  * Vkontakte