Blockchain business models benefit from the approval of the Bitcoin Spot ETF
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EQS-News: Advanced Blockchain AG
/ Key word(s): Cryptocurrency / Blockchain/Regulatory Approval
Advanced Blockchain AG: Blockchain business models benefit from the approval of the Bitcoin Spot ETF January 11, 2024 - Yesterday evening, January 10, 2024, the Securities and Exchange Commission (SEC) granted approval for the first Exchange Traded Fund (ETF) for Bitcoin spot trading. Advanced Blockchain AG ("AB", Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator, architect and investor for the blockchain industry, will benefit from the resulting growing acceptance of blockchain solutions in the financial sector and the increased interest in the cryptocurrency market. According to the results of a recent study by CryptoQuant, a renowned provider of data analytics for institutional and professional crypto investors, the introduction of spot ETFs can increase the total market capitalization of Bitcoin to up to one trillion US dollars. Simon Telian, CEO of AB, comments: "The approval of Bitcoin Spot ETFs marks a significant milestone in the recognition and integration of cryptocurrencies into the traditional financial world. As an asset class, cryptocurrencies only have a volume of around 1.85 trillion US dollars. The SEC approval is expected to result in inflows into the Bitcoin Spot ETFs of up to 4 billion US dollars on the first day of trading. The index funds own physical bitcoins, which means that they acquire shares of the cryptocurrency. This distinguishes them significantly from conventional ETFs and is a decisive criterion, as financial heavyweights such as BlackRock, Ark Investments and Fidelity are now allowed to launch innovative listed funds that invest directly in the world of bitcoins. Our company has years of experience in this sector and has already proven its commitment to innovation. The combination of these factors puts us in a unique position to offer investors a reliable and trustworthy way to benefit from the opportunities in the crypto market. I am extremely confident that this move will significantly increase interest in our blockchain and crypto offerings and have a positive impact on our business development."
About Advanced Blockchain AG: For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
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11.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Advanced Blockchain AG |
| Scharnhorststraße 24 | |
| 10115 Berlin | |
| Germany | |
| Phone: | +4930403669510 |
| Fax: | 030403669511 |
| E-mail: | info@advancedblockchain.com |
| Internet: | www.advancedblockchain.com |
| ISIN: | DE000A0M93V6 |
| WKN: | A0M93V |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1813157 |
| End of News | EQS News Service |
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1813157 11.01.2024 CET/CEST
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