Bitcoin

Spot

JPMorgan suggests in a recent research report that Bitcoin miners may experience a pause following the approval of the first U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC).
The bank's analysts, Reginald Smith and Charles Pearce, expressed uncertainty about whether this announcement will trigger further rises in Bitcoin and mining stocks in the near term or whether investors will turn it into a “sell the news” event.
The total market value of miners in the bank's coverage area has increased by 131% since the end of September. This growth is significantly higher than the 71% increase recorded in Bitcoin over the same period. As of yesterday, the total market cap of fourteen US-listed miners was approximately $17 billion.
Related News: <a href="https://en.bitcoinsistemi.com/will-the-fed-cut-interest-rates-in-march-special-remarks-by-fed-member-mester/" target="_blank" rel="noopener noreferrer nofollow">Will the FED Cut Interest Rates in March? Special Remarks by FED Member Mester</a>
Bitcoin mining stocks have surged significantly over the past three months, trading near record highs based on the bank's proven reserves and four-year block reward revenue estimates. However, analysts warn of potential selling pressure in the sector if investors decide to exit cryptocurrency-related stocks for more direct exposure to Bitcoin through an ETF.
Despite this, JPMorgan states that the ETF “does not directly impact the mining economy or change competitive dynamics.”
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/jpmorgan-analysts-comment-on-the-fate-of-btc-miners-following-the-approval-of-bitcoin-spot-etfs/" rel="noopener noreferrer nofollow">JPMorgan Analysts Comment on the Fate of BTC Miners Following the Approval of Bitcoin Spot ETFs</a>

JPMorgan Analysts Comment on the Fate of BTC Miners Following the Approval of Bitcoin Spot ETFs

Bitcoin Sistemi EN

Other articles published on Jan 11, 2024

Ark’s Cathie Wood condemns SEC Chair, says Gensler ‘denigrated’ crypto

OpenAI launches GPT Store! AI creators can now monetize their application.

Hedera and Algorand collaborate on decentralized system for wallet recovery

BlackRock’s iShares Bitcoin Trust ETF Soars Ahead of Trading Session

BCP Webinar Unveils Key Trends Shaping Wholesale Industry in 2024

Bitcoin spot ETF done – Is a six-figure BTC ‘supercycle’ coming up?

Join our free newsletter for daily crypto updates!