bitcoin, 11 etf's go live today.off by .2% but it has been a volatile ride, at one point at 49,000. look at some of the individual movers on the day and some of the market capitalizations we are focusing in on because check this out, we are looking at microsoft in the blue about to eclipse the market capitalization again of apple in the white. apple getting numerous sort of sell ratings or going neutral on the stock, worrying about china so market cap has taken a hit. move on to some of the individual movers when it comes to the world of crypto because there has been this perhaps sell the fact kind of a move or ultimately digest the amount we have run up in these stocks ahead of the all-important spot etf. microstrategy of course on its balance sheet, up by 5%. clean spark off by almost 10% so there has been a bit of weakness in today's trading. ed: let's get some more reaction. yesterday, i caught up with the nasdaq ceo at ces in las vegas just as the sec approval of bitcoin etf's was announced. this into her reacti

the bitcoin etf's.we are watching media-related stocks, whether there is a deal circling paramount. that stock and warner bros. down after concerns about ad outlook. and with the financials right now ahead of citigroup quarterly results we are seeing weakness in that stock. a host of charges the company unveiled ahead of quarterly results. plus bloomberg reporting on the possibility of an upcoming settlement of a trading probe from morgan stanley. we will continue to watch the shares of morgan stanley and citigroup through the trading day as well. sonali: we are going to talk about u.s. inflation data because it accelerated in december as americans paid more for housing and energy. that complicates the bets that the federal reserve will cut interest rates soon. here's how bloomberg top guests reacted. >> cpi coming in hotter than expected. >> already complaining about inflation. saying the cost of doing business is higher. >> that has proven to be very sticky. >> from wage increases to higher interest r

buying etf is not buying bitcoin. you are not buying the bitcoin. what we will see is how many people care about self custody. >> coinbase fees -- it blows me away. wait a minute. it was trading here. why am i getting -- they are 5%? >> here is another interesting idea from the investment perspective. the public market misunderstands the crypto business. they have the new blockchain base and generating revenue there. miners revenue is driven by the price of bitcoin. if the price of bitcoin doubles, their revenue doubles because the revenue. >> the fee structure? >> it will compress. they are shifting into a more -- >> you are an investor in coinbase. are you more likely to sell based on this or likely to add to your position? >> i think any company in the public market will do very well over the next one or two years sdpyears. >> you are not looking to sell? >> definitely not. >> you think one or two years, do you think ten years? >> investing is hard predicting ten years out. i thinkthis is a generational trend where there is an asset class that di

what's going on with bitcoin city? what's planned, what's happening in my experience, we can ask pretty open questions at these meetings and also talk to the experts in the old and the answer to the best of their knowledge. nelson n o has lived in germany for several years. he hopes bitcoin can help his native country. i'm have got him a year and a half ago. i only to have bills out the door some way to visit because my parents lived here before i started cc, how much then business develop? really, lots of people are saying that they'll salvador could eventually become a country like seeing a pool of that and, and i see that the opportunities, the math i can see. but we have very big challenges. nelson, you know, is looking forward to getting new information from the government, just like everyone else here. the minister of the economy has canceled fund president boot kayla is causing will speak. she gives the same presentation about big calling as long as the city. is there a timeframe or she will detail that when you

this will buy inflows from bitcoin. lot of the participants say this is a big endorsement from bitcoin by the regulatregulator. 11 approved applications by the s.e.c. and blackrock and arc investment and other names as well. i want to bring up two interesting points. first, bitcoin barely moved. 150% run-up in 2023. much of that built on the excitement of the etfs. ethereum, spiked nearly 10% after the announcement. that is because investors are anticipateing the s.e.c. approving the etf must now approve for ethereum. the second point was the statement from s.e.c. chair gary gensler. he said just because we approved bitcoin etf doesn't mean we will approve a bunch of p cryptocurrency assets. this signals the willingness to approve crypto asset ises securities. he stated most in the s.e.c. views are ss are securities. bitcoin is speculative and can be used in a litany of activity. we approve certain spot etf shares. part that have is gary gengler pouring cold water. very positive for markets here and the industry is exci

bitcoin has been shown time and again -- charles: i'm not a bitcoin hater but people use this stuff to do nefarious things. it is proven. it is known. by the way -- neil: the vast majority. let him answer. >> let me be on the record saying bitcoin is one of the worst tools possible to move value if you are doing anything illicit or nefarious. as you guys -- neil: is hard to trace. that is why -- >> you guys hit on a couple things. one of the things i believe in which is bitcoin is multidimensional. you mentioned is bitcoin a currency, is it a store of value, is it inflation hedge, and i think each of these investments around bitcoin can resonate, multiple of them can be true. there can be multiple truths around this. that's why bitcoin may in fact appeal to different investors. charles: let me say bitcoin is used for a lot of bad stuff. it is absolutely proven. so it is one dollar. neil: dollars are used for the same purpose but having said that what do you think will tell you where this goes? charles: just so you know i am apolitical with this. i see positives with this. edward: to mu

approved the first spot bitcoin etf. watching crypto on the news and bitcoin is up .30%.far, the laggard with the crypto complex. ethereum is the best one up 5.5%. the 11 pufunds operated by ark invest and grayscale and others are trading as soon as today. joining us is arjun kharpal from the conference in st. moritz. >> reporter: frank, i was in bed at 9:30 to be fresh for "wex." people said the celebration started off tame because they were not sure with the s.e.c. and they got rauowdy because th is a big deal. three things stand out on the news. you mentioned bitcoin relatively flat. it had 150% rally last year. along with the etf optimism. that is priced in. ethereum. there is expectation with people here on the ground that the ecb coul s.e.c. could approve in may for ethereum. ethereum is up. i want to contrast that from the s.e.c. chair comments which were strong after the approval. gary g,ensler says don't think e will approve others. he reinforced the fact he sees most crypto assets as securities. bitcoin is a commodity. he reiterated that bitcoin is a speculative

it all begins hosting, one of the most important bitcoin conferences in the wells adopting bitcoin j one. this is partly about how you promote the adoption of bitcoin, how you get that out to the people. oh, salvador is a permanent starting point, of course, because it's already relevant here in practical terms. but it's also about how to make a big claim better and faster and cheaper. so instead of 100, so big calling is on trip. it is, and developers have arrived and don't age by price drops. in the past few months, the conferences focus is on making big calling more accessible. jeff, kansas is sharing a panel on the topic the while they discuss technical problems on stage. others up busy networking nelson in other things, there's been too little education so far. he's developed to tutorial, to help with that. give me a community. we need more ways of showing between to the people who need it most. and these are not the people who come here from europe or north america. it's the cell, the door and food have the opportunity to use between every day the get. in fact, the movie type o

etf's and you're seeing bitcoin trade meaningfully lower. what do you think is happening here? >> they are are three things we can see happening from the skybridge desk. number one, there seems to be a lot of selling of great sale -- grayscale, loss taking. that would be people who bought the grayscale bitcoin trust in the 50's up to $69,000, they are taking profits or losses i should say in booking those losses and swapping into lower prices in grayscale, of course grayscale priced at the high end of those 11 etf's. the second thing we are seeing is the bankruptcy estate for ftx is unloading into the announcements that there is heavy volume of selling of bitcoin right now. we see that is temporary. i don't think you can have 160% rise in an asset over let's say a year and a half a month and then expected to go straight up after the announcement, so i do expect that supply overhang to be done over the next six days to eight trading days and then you will see the trend start upward again for bitcoin, because the demand is out there. one last

the price of bitcoin.e want. they're investing or buying bitcoin because they want to see it go up. and bitcoin has already increased in value from its lows of call it 16,000 in november 2022 to 45,000 today so it's recovered very well from a tough 2022. >> yeah. >> so i think the etfs open up huge base of potential new institutional capitol. personally i have a lot of questions about how this is going to be done, the mechanics, but one thing seems for sure, they're going to be bitcoin etfs very soon. >> what do you mean? what sort of questions do you have about the mechanics that investors should consider? >> so many things. bitcoin will -- how will the institutions think about the suitability of this for their clients? there is a massive amount of discretionary capitol that these institutions control. will the suitability tests -- how will they be conducted? what about margin? you know, you can get 60% margin on a lot of stocks. is this a marginable asset in exchanges and places where people currently ac

xeh must either approve a bitcoin etf or not.ave the opportunity to invest in bitcoins bypassing crypto exchanges, binance or coinbase. and according to forecasts, money will pour into the cryptocurrency and raise its value to new heights. they have already started talking about $200,000. bitcoin alone is not the limit, however, other cryptocurrencies may not have it easy. the approval of bitcoin etf, in my opinion, is the story of the year, it will be one of the main catalysts. the crypto market has been growing seriously since since graysky's decision in august. this was the moment when the market realized that such funds could actually be approved. if this happens, it may not have such a positive impact on altcoins. first of all, because this is the story associated with bitcoin, when interest rates are high, the investor. forecasts for the influx of money vary from $3 billion on the first day of trading, which could take place as early as december 11, to $55 billion over 5 years; they call even more ambitious figures, an infl

. >>> bitcoin seesaws as the u.s. securities and exchange commissions x profile posts a false message saying it has approved a spot bitcoin etf. >>> european eck request i the i markets are off to lackluster start while it's a mixed food basket for foodies in the uk and sees discounts in the discount bin. >>> the 2020s will go down as a decade of wasted opportunity. its deputy chief economist says global financial conditions will remain tight for the foreseeable future. >> the central banks will wait to see a persistent decline in inflation and take action accordingly. as i said, the restrictive financial conditions, will they be a test for the foreseeable future? >>> and france appoints its youngest ever prime minister as the 34-year-old assumes office with the prospect of a wider cabinet shuffle ahead. >>> well, good morning again, everybody. we had somewhat of a mixed close for wall street yesterday. a bit of an uninspiring sigs as far as asian markets are concerned. as for now, you can see the stoxx 600 is dipping

bitcoin. look for bitwise, my friends. >>> check out the shares of bitcoin.t's been on a wild ride over the last 24 hour, but it's been, i don't know, doubles recently. the cryptocurrency jumping to nearly $48,000 after the s.e.c.'s x account was hacked and posted at the agency had approved the spot. it was quickly disavowed and the price came back down. the s.e.c.'s decision is expected, though, some time today. joining us now, tom lee, a cnbc contributor. you brought this on yourself. we're bringing you a bitcoin story. the great thing about you, you can be -- we have people who pretend to be experts about everything. i have, as viewers know, an opinion about everything. it's not unusual for you to be thinking about bitcoin. you were right last tight. it was at 4,000. what's going to happen now? let's talk bitcoin. >> well, i mean i think yesterday's compromised tweet is a reminder you have to find something you can trust in a trustless world, which is bitcoin. it's really still an immunable blockchain. one of the things we're still waiting for is the bitco

if there is a use case for bitcoin, this today mark a new chapter for bitcoin in terms of lower volatilitybetter use case, easier to understand, and is that a very different type of investor than we are talking about here? >> if the bitcoin is allowed to be in model portfolios, you would expect to see some of that volatility smooth out if we are seeing large inflows that are staying in bitcoin. a model portfolio, when they make a new allocation they are not really getting in and out, they are sticking 1% in hand you would imagine that is going to stay in allocation years and years to come, so could that smooth out some of the volatility with bitcoin? remains to be seen. when you look at the piquant place, two or three years ago we used to see 6% moves in under 15 minutes. it really hasn't moved that much today. about $49,000 right now and even with all of the fake posts, we haven't really seen those volatile, spikes up and down in the price itself like we used to see two or three years ago. i think that speaks to the soothing out of volatility that we are likely to continue to seek now tha

directly, the price is linked to the price of bitcoin and, there for if bitcoin and, there for if bitcoin lose a lot of money. thank you for your time this morning. we will be waiting eagerly for that decision. now let's get the latest on the situation with boeing. the head of the aviation giant has said the company must acknowledge its mistake after a number of its planes have been found to have loose parts. investigations began after the cabin panel of a 737 max 9 jet blew off during an alaska airlines flight last week. addressing employees at a factory in washington, where the planes are assembled, dave calhoun said boeing would approach the issue with complete transparency. nearly 200 max 9 planes have been grounded. murdo morrison, head of strategic content at the aviation news site, flight global. a bit of management here. this is boeing trying to be transparent and getting on the front foot with this but it is already in a terrible pickle with this and the reputational damage of this incident is just, you know, it cannot be overstated and it really has to do a lot of work to restor

is -- do you know how you create a bitcoin?ually told this to larry. you to all these computer programs and out pops a bitcoin. that's how you create more of it. now, i know you could say you could create dollars out of thin air, but thiess there's taxing, the full faith and credit of the u.s. government. what's the full faith and credit of the bitcoin blockchain? liz: well, again, we'll be following it. >> i don't know. liz: hester saying or, you know, she really was one of the yes votes for a long time. >> yeah, i know. but what she just told you is that she's a yes vote on eth, but she also told you that it's an uphill battle. liz: charlie, thank you very much. >>> fox business alert, investors are staying away from the mess of irobot after "the wall street journal" reported that the european union's antitrust board is planning to block amazon's buyout of the roomba vacuum maker. roomba maker irobot down 24% right now. amazon had until january 10th to address regulators' concerns that the deal would reduce competition, but s

the sec has approved this for bitcoin and bitcoin only.itcoin is well classified as a decentralized asset class. i personally think of it as global money. it is not a security, which is why it was able to be allowed as a spot etf. this is not to say the rest of cryptocurrencies will be allowed and accepted into etf's and other stuff. the point has been made clear that the sec considers other cryptocurrencies as securities. bitcoin is getting a different treatment, and we will see what happens to the rest of the class of cryptocurrencies, but the most important part is now regular people would brokerage accounts in the u.s. market and other countries who can access the u.s. market, now they can buy into bitcoin and profit and participate, so that is a very exciting movement. rishaad: surely the biggest game changer would be when people can use it to buy and sell things like they can with any normal fiat currency. would you not agree? >> i personally do not agree with that perspective. people have different opinions. for me, bitcoin is an in

. >>> plus, bitcoin's big day. all of the 11 crypto efts are now trading and the frenzy pushed bitcoin above 49,000 before a mid-day fade. is this the peak of the current crypto rally? >>> and later, netflix and chill out for ads. it's a thing. we'll explain it. boeing's bad week keeps getting worse. and the big banks are on the clock. tomorrow's trade tonight. i'm melissa lee coming to you live from studio b at the nasdaq. on the desk tonight, tim seymour, karen finerman, dan nathan, and guy adami. >>> a major real-world ripple effect in the ongoing armed conflict in this critical shipping channel. tesla announcing it will suspend most of its ev production at its berlin factory due to the impact on shipping costs and the supply gap. let's get to pippa stevens with more on this, and reports that the president could be addressing the troubles in the middle east tonight. >> that's right. biden is reportedly set to speak tonight, according to "the times of london," right after pm sunak held a call with his cab net thi

we're okay with everyone using bitcoin? >> well, here in the united states, bitcoin is protected as free coach. code is protected as free speech and has gone all the way to the supreme court. this would be, we would win that battle if that ever became the choice of action. charles: well, you may recollect me feel a lot better every time you're on the show. listen, i know it sounds infurious but it's hard because the promise you laid out of bitcoin and crypto so amazing and people agree that it's hard for me to believe governments won't push back. congratulations, you played a mayor role in all this -- major role. congratulations. we have to go to cbs because liz claman is there covering all the hot stuff going on. liz: okay, but the hot stuff, charles, is the breaking news. we've got to get it to you. can we put up a bitcoin chart inter-day. look at live trading of bitcoin and a moment ago, they post that had ark invest and multiple other companies applied for spot coin etfs and all breaking and now listed as ready to trade

and bitcoin etfs? and how is it doing relative to bitcoin? >> that's exactly right, bob. what investors look for in etfs is performance and performance is a couple things -- it's market quality, which is liquidity, spreads, and, of course, it's tracking. how well does this vehicle deliver what they're actually looking for, which is spot bitcoin. that's what investors haven't been able to get in an exchange traded wrapper. so far we are optimistic that that's what we're going to be able to deliver. >> so i'm looking at the spreads here. this is an indication. this is liquid. we have ten products and a lot of trading going on. i see spreads a few pennies essentially in your product. that's a very good sign. what about inflows? q. 16, 17 million shares in a half hour of trading is pretty good overall. how do you feel this product is going to do in the marketplace? what are your expectations for inflows? >> all we can track right now are secondary volumes, which as you just talked about, we're seeing order

liz: bitcoin's on blast.or the first time since april of 2022, it zoomed past the 45,000 mark today and came within $78 of $466,000 before retreating -- 46,000. we're still at $45,186 right now. after being. crowned the best performings asset class of 2023, bitcoin's prowess continues into the new year, boosted in great part by wall street speculation the securities and exchange commission within -- is within days, like three days, of approving at least11 of the 13 bitcoin applications. but what then happens to the bitcoin of -- the price once we to see approval? let's bring in one of the biggest bulls, pomp investments' anthony pompliano. all right, so here's what we're hearing and here's what you predicted just a couple of months ago on "the claman countdown." you said it would be a bunch of them -- >> yes. liz: -- and let them all fight it out. charlie gasparino's sources is saying cath rhode island wood with of ark investment, my sources are telling me blackrock, gbtc and cathie wood. have you changed you

rollercoaster of bitcoin trading. to the highs of the twenty-second year, and then fell by several thousand dollars, for reasons. unknown people hacked the account of the commission, which is responsible for order in the united states. on the securities market. on the crypto market, it's a turbulent day, and on the night of monday to tuesday , a message appeared on social networks that the long-awaited bitcoin exchange-traded fund had been approved by the securities and exchange commission. the price of bitcoin immediately flew up by 1.0 dollars, to almost 48,000, which had not been seen since march 22, but then fell by almost 2,000 when it became known that the sec page had been hacked, its chairman... gary genzler said in his personal account, that the commission's account was compromised and that the sec did not approve the listing and trading with the sweat exchanges bitcoin products. come january 10th, xeh must either approve a bitcoin etf or not. if the decision is positive, large investors will have the opportu

inflation and bitcoin. guy: or bitcoin inflation could be the other way of looking at it. where is the money coming from that is driving this today? that is an interesting question. inflation narrative is fascinating. has the easing of financial conditions started to have an impact? how hard is the last mile going to be? we thought we were on a nice path and it would be easy to get inflation back to target. alix: i was thinking about that. is it more than a mile? is it going to take that much longer? is the distance that much further than where we were given that some of the cyclical factors are picking back up again? guy: there is a great note out. the cyclical part has been hit by higher rates. the cyclical they did get his, but now it is lower rates to your point. you have the taylor swift economy and the cyclical part of the economy both starting to pick up, and that could be inflationary, and then you have to fold in what is happening in panama and the red sea. it does p.m. picture of that last mile being very difficult, much more than anticipated. alix: we will also

they don't have to buy underlying bitcoin but they can have an opinion about the trends in bitcoin andregulated market, which of course is nasdaq. these instruments are highly liquid and they have ready access to an investable vehicle in the space. we are excited to be there partner. ed: there are cerebral debates about bitcoin, about whether it is a risk asset, and asset class , if it is not come if it is a store value. is the nasdaq approach that this development moves towards a deeper focus on crypto as an asset class? adena: i have to look at it differently. we have etf's that reflect a lot of different instruments and asset classes whether it is commodities come equities, bonds , other instruments. as long as they are liquid and have a solid underlying price mechanism which now the s.e.c. is saying underlying market for the etf and they are proving the etf. that is an interesting signal. i would say that our job is to create products. and then to be the listing exchange for the index products that allow investors to invest in all sorts of tradable instruments including bitcoin. ed

ed: bitcoin spot etf watched day, i don't know which day.rock, several perspective issuers of etf's filed amended forms this morning in what was seen by analysts to be a final push. joining us now is the cofounder and ceo of -- that offers software tools that allows users to manage their crypto portfolio but also use new crypto products. you're watching this closely. it will impact your business and your world. that news, the updated forms. we have more issue -- more updates on fee structure. it seems like the weight might soon be over. >> we've been waiting for five years. we're getting close. it is going to happen. the question is wind as it goes live? does s.e.c. delay the filing? i don't think so. i think they are back against the wall. you'll will see the etf go live q1, q2 maybe. maybe they will give us the bitcoin etf but not the others. they've already said that bitcoin is definitely not a security. ed: you've been waiting five years. others in the market have been waiting much longer. the other kind of data we are getting now is the

any spot bitcoin etf is going to be good for holders of the bitcoin in and of itself? industry, there is expectations that the ftc will make a decision about approving spot bitcoin etf. we thought bitcoin rallied in the past year based on the anticipation of this news which analysts think will drive institutional funding into bitcoin. there is uncertainty and approval. by 100% guaranteed. caroline: we are embracing the by the rumors and sell the news. it does get approved? do you know any of the details as to what happened? they generally eighth through 10th, the sec says yes. will the etf be there for the training? as a take weeks or months -- does it take weeks or months to get executed? >> if they do approve the bitcoin etf fund, the other shorts and operators that are associated with the bitcoin etf are preparing to get ready to launch and trade the shares. coinbase for example which is the custodian provider for a lot of these etf issuers who told us last week that they or operational ready. we are seeing things like everybody is preparing as if they will be able

the bitcoin itself.as regulatory parameters perhaps feels more reliable are those the biggest pluses to this. >> it really is if you look back in the old days and when i say the old days, ten years ago you have to go to an exchange it could be anywhere in the world and your trading bitcoin with you don't know who and then accosted in your own wallet i can be technologically sophisticated if you don't know what you're doing. in the past a lot of people lost their bitcoin. what's good about today a lot of the asset management including ourselves and the other ones that are listing this week, we've added the exchanges in the dealers that were working with, we've added the custodians that were working with and we had to go through the whole process to work with these different vendors and counterparties. now we have a process that makes the simple for somebody to purchase out of their accounts wherever their buying bitcoin. ashley: perhaps on the con side let me think the whole concept of crypto is supposed

people can purchase bitcoin, 10% of your portfolio, impressive 10%. i love bitcoin.on. if you do that don't trade it. just put it away and hold it for five or ten years and you will do well. liz: you are a motivational speaker. i'm listening to you and i can hear your charisma. i need to ask on behalf of my viewers why should they listen to you? you went to prison for 22 months on fraud conviction and 200 million taken from mom and pop investors, some wealthy, some -- you are telling me leo -- >> that was not true. liz: you haven't paid all of that back. >> that was -- the people that lost money is far lower. liz: you have paid that back? >> i pay money but no one gets it. liz: the money you made from the book, where does that go? >> me. to me. liz: should it go to the victims? >> the victims have been paid back. liz: let me take it here. as we look at what wall street doesn't want you to know. you explain in the clearest terms ever what all the terms wall street doesn't want people to understand you explain clearly. wall street doesn't want people to understand it b

right now i'm looking at bitcoin under pressure now.s this s.e.c., false tweet, is that at all a catalyst for that decline? >> i think it is a decline for the catalyst. you need that better security. that being said, you know, it's not great for the people who had shorts on bitcoin. they see it go up because of this false tweet and when it was confirmed to not be real, the people who have long options lost out. it's just another day in sort of the crazy crypto world and the market will move on. >> it's a crazy world when it comes to cryptocurrency, unde understood. >>> one thing that's not crazy, they've been buyers of crypto cryptocurrency all year long and that's been one of the reasons we've seen the price go up. i have to ask you. with the possibility of etfs, does that change things for resident investment advisers and how they advise their clients? is this going to become something more mainstream? >> i think it could, particularly for that sort of smaller to medium sized raa. if you're running a kind of small i.r.a. in michigan o

flows into bitcoins.imes if you look at the charts. that capital that goes into bitcoin etf's is not funds on the crypto exchange. it will be stickier than in the past, but it is going to happen. one of the most recent questions i am following for this upcoming year is that a theory him has never faced immature challenger in terms of the layer one blockchain ecosystem in a prior bull run in the way it will now from solana and others. this comes at the same time that ethereum has tricky and complicated challenges and opportunities as it tries to resorb this new blockchain thesis, which is complicated but suffice it to say that significant changes are underway in the ethereal world that have never happened either. there will be an interesting race among the blockchain platforms, especially when you look at traditional asset managers, financial firms are increasingly looking at things like tokenization. it remains to be seen where the blockchain technology development explosion and sub happening outside of t

>> in canada we have a spot bitcoin etn.ons that people think this is going to be a sell the news event because the flows with that etf haven't been as anti anticipated. that's one of the biggest narratives we have seen this huge price run-up going into this event. think back to december 2017, there was a lot of optimism around a futures bitcoin etf. that ended up being a negative catalyst for the space. even bernstein that deems a spot bitcoin etf the greatest financial pipeline built between traditional financial markets and the crypto ecosystem. thinks there would be -- the market would take a pause once these spotty etfs are approved if people wait to see if they build momentum. >> spot etf, they are going to own bitcoin, not futures. >> that's what's so different about this. it would mean people don't have to go to an exchange to custody bitcoin. instead, black rock fidelity work with coin base and then you have very familiar product that you can buy into the space with. that's what people believe it will be a game chan

bitcoin pulling back from earlier highs.ators have approved the etf's investing directly into the token. we are going to discuss what approval means for the future of crypto. this is bloomberg. ♪ kriti: welcome back to daybreak europe. i'm kriti gupta in london. there's a lot going on in the bitcoin space. the last 48 hours have been a whirlwind when you look at the crypto industry because this could be a moment for the financial history books especially if we get the approval process. now that the sec has signed off on bitcoin etf's, begrudgingly saying they do not endorse cryptocurrency, still worried about the volatility it is going to bring in, they were backed into a corner when you look at the court system in terms of development of this product. now it is all about the traders, the masses. what does the demand look like an does this really change the way you invest in what is seen as a very volatile currency? for more i'm joined by bloomberg's crypto reporter siddhartha shukla. talk to us about the expectation of bitc

katie: after bitcoin soared in 2023 come investors weights but bitcoin etf approval in 2024.

bring to the table for bitcoin. caroline: the lights those offering the etf's, and we know there seems to be a race to the bottom in terms of management fees. it will be incredibly cheap to build this into your portfolio. are they worried by these false starts? are they worried that it firms are dent that is further dents desire to get into the speculative asset class? sonali: there was less concern around the etf itself and sec approval and more concern around sec management processes. said it was not a happy. it was because of a compromised individual stealing a phone number associated with the account. it is interesting gary gensler himself used the word compromised rather than hacked. a lot of lawmakers here are attacking the sec as well. gary gensler, republican lawmakers in particular, are concerned about how the sec is managing the process. i would say coinbase's executives are online saying that they could be a part of the solution here. the sec and coinbase have been in their own disputes for the last coupl

bitcoin products. hour x begins on january 10th. seh must either approve a bitcoin etf or not.e investors will have the opportunity to invest in bitcoins , bypassing crypto exchanges, binance and or coinbase. and according to forecasts, money will pour into cryptocurrency and raise it. price to new heights, it has already been said that $2,000 for one bitcoin is not the limit, however, other cryptocurrencies may not have it easy. story of the year, it will be one of the main catalysts. the crypto market has been growing seriously since the moment the gray scale was decided in august. this was the moment when the market realized that such funds could actually be approved. if this happens, it may not have such a positive impact on altcoins. first of all, because this is the story associated with bitcoin, when interest rates are high, investors must choose where to invest their money. forecasts for the influx of money are different: from $3 billion on the first day of trading, which may already take place once. if demand is high, it will continue to grow, so we have a forecast tha

if you think about bitcoin. bitcoin and this etf's like pickleball getting added to the olympics.ike to play pickleball. it's this divisive thing you've got these country club saying it's too loud we don't want to add. it pickleball is here to stay, and despite coin etf is here to. stay at that was an interesting thing to think about the relevance of this whole thing. you think about it like pickleball, it's popular and now in this case it's here to stay. it has not been at the olympics. it's a good framework. >> is it in the olympics? did i miss? it one real quick thing, people are asking me about why don't they track bitcoin right now because the prices are all over? these are new products, except for gray scale. there was a reference price that the companies started just an ipo, they picked the price they are going to do. it don't worry, about it in the next few days these products should track bitcoin. if they don't there is going to be a problem. don't use the prices, today the reference prices don't mean that much to what we're doing. today let's start tracking that as of to

bitcoin.we expected was a rotation from the btc spot bitcoin as well as the future into the etf because not only is it cheaper, but also from a custody and security perspective, it will be a lot safer in terms of risks. you have bny mellon who is the administration for over half of the etf's, today, and what you see also is instead of paying 10 plus percent for the futures carrier rate you are going to pay an implied cost of 20 bits in fees which again is a lot cheaper. you will see the basis collapse which we expect to be trading under. caroline: people get out of the futures because it is expensive. they go to the spot bitcoin etf. we are looking at a whole raft of inflows, five through 10 billion. what sort of scale of adoption do you anticipate? >> the market has a price between a one or 2 billion, you saw the standard charter, from 50 through 100 billion, and 2024 alone, it depends but i would say today, you still have open interest, the highest it has ever been on the cne, institutions a

evergrande ma will have exposure to bitcoin.t is incredible to see what a grass root movement built on free market principles, property rights and the power of technology has turned into. as end of one special era and start of another very pivotal one where bitcoin goes public main stream after 15 years. one in 1000 companies ever ipo. none reached a market cap of a trillion dollars before going public. we have this open source technology networks and global apex property having its ipo moment. this is a right of passage for bitcoin to eventually take its place as a dominant force in global macro. cheryl: what do you say of those who remember recent news with sam bankman-fried, ftx global, concerns about hackers, concerns about cyber theft? those issues really haven't gone away? >> well there is still so much regulatory uncertainty with crypto but there is nothing more certain now than bitcoin and bitcoin being here to stay and wall street coming in legitimizing this space is inevitable. they see what all of us see in bitcoin, r

today bitcoin is just above 46.000.analysts note, however, there are special optimists who predict unprecedented heights for quotes. our base case scenario hovers around the 6,000 mark, and the most optimistic one, and the etf's approval, only strengthens it by one and a half million dollars by 2030. despite this volatility, the demand for investing in bitcoin will be stable, experts are sure. bitcoin will not become a means of payment due to technologies. accounted for 2 billion 300 million dollars, in second place is the etf from black rock, more than a billion, this is a fund in a special account of washington for past services. it was he who managed to melt the regulatory ice and achieve approval of derivative exchange instruments for the main cryptocurrency. the turning point was the company’s victory in court, thanks to the etf, experts expect a revival in the crypto market. now in the crypto market, in principle , a certain condition has already dragged on, which is often called. in winter, well, that is , such a

bitcoin?ind of inflow into the industry, then i don't know how you can sustain this grand amount of e.t.f. issuers that are playing in the space, not to mention some of the issuers are already thinking about products, think ripple based e.t.f. alix: buy the rumor, sell the news, if that's how that winds up shaking out. how long -- when you talk to asset managers and institutional investors, etc., how long are they giving it to see what's successful? >> there are a few people that are racing to the gate on day one, but you have to remember there's two sides of thinking here. you have about 45,000 or so on bitcoin today. there are people who think, ok, there's been such a runoff. today is the sell the news moment. you think about just the fact that it hasn't really recovered since that s.e.c. moment yesterday, even with the anticipation of that bitcoin approval. let's see what happens in the next 24 hours. then we'll watch over the next couple of days. how many billions actually pour into the e.

let's take a look at bitcoin, is this a sensitivity to ppi? or are we selling the run-up into crypto more broadly? we are off by 1.4%. ed: we will take deeper into the program. it's a difficult to get a causal link with the data and what is happening. that extends to crypto related stock. everyone from a training platforms that hope to benefit from spots etf. we see don where pressures. onack f what is playing out in the red sea. >> the biggest thing is the impact on customers. the transit time as well. you mentioned tesla getting parts to manufacture goods. a huge swath of companies in europe. the price of ocean race has gone up about four x. even from asia to the west coast which you would think it should not be impacted by the suez but it is. the price has gone up by three times. part of that is that the ships have been pulled off of the supply chain. all of these trades depend on containers and if there is not enough containers you have to pay more for the ones there are. ed: we have a great visual to track those movements of those contain