📈 ETFs: the key to BTC’s path to the moon?

More Bitcoin ETFs are coming, a big fine for Tether and a new name for Facebook… Your weekly Biiiiiites brought to you by Milan, from Ledger. [View in Browser]( [Gif Ledger Bites]( 22/10/2021 More Bitcoin ETFs are coming, a big fine for Tether and a new name for Facebook, Peter Thiel wishes he purchased more Bitcoin… Your weekly Biiiiiites brought to you by Milan from Ledger. Were those Biiiiiites sent to you by a friend ? [Subscribe here]( [Infos I should already know about] [ProShares]( [Move To Earn]( Crypto assets can be managed on your Ledger Live! [Go check now →]( [Infos I should already know about] [Facebook wants a new name, in line with its awaited Metaverse strategy.]( According to The Verge, “Zuckerberg plans to talk about it at the company’s annual Connect conference on October 28th”. The rebranding aims to position Facebook as more than just a social media company. Zuckerberg said the Metaverse “is going to be a big focus (...) part of the next chapter for the way that the internet evolves after the mobile internet.” [Kazakhstan targets crypto mining farms for electricity rationing.]( The country faces an energy shortage with an electricity consumption that increased by 7% in one year, compared to 2% per annum during normal years. 250K mining devices are estimated to be hosted in Kazakhstan, while the country’s share of global mining soared from 1.4% in September 2019 to over 19% today (Cambridge University Report). [Tether fined $41M for fiat-backed misleading claims.]( In a statement, the US Commodity Futures Trading Commission (CFTC) claimed that (at least) from 2016 to 2019, Tether “misrepresented that it maintained sufficient US dollar reserves to back every USDT in circulation with the equivalent amount of corresponding fiat currency.” [The Central Bank of Brazil reveals record crypto investments from its population.]( The institution reveals that Brazilians bought $4.27 billion worth of crypto assets during the year, while Bruno Serra, the Central Bank’s director of monetary policy, says “the value of crypto investments made by Brazilians could be about three times larger than their investments in US stocks.” [After $900M raised three months ago, FTX raises... $400M.]( This latest funding round (which included asset management giants BlackRock and Tiger Global) enables the Bahamas based crypto exchange to hit a $25B valuation. The fundraiser will address “adjacent market opportunities including equities, prediction markets, NFTs and videogame partnerships,” said FTX head of product, Ramnik Arora. [Peter Thiel regrets being “underinvested” on Bitcoin.]( During an appearance at a conference in Miami, PayPal’s co-founder argued that the rise of crypto shows “we are at a complete bankruptcy moment for the central banks”, adding that his hesitation to invest was explained that “the secret was already known by everybody.” Is that really the case, Peter? Wanna share our Biiiiiites with a friend ? [Send →]( [Insight of the week] ETFs: A New Step For Bitcoin’s Path to the Moon? This guy has a new option. [New option] That’s it. After being approved by the SEC and a near-decade of reluctance, the first Bitcoin Futures ETF made its debuts on Wall Street. Is Bitcoin on the brink of another round of adoption, bringing the world’s most capitalized crypto closer to its much awaited “digital gold” stance? Bitcoin ETFs: new instruments for traditional investors. Bitcoin Futures ETFs (the first lucky one is ProShares) are unprecedented options for professional traders to benefit from crypto’s upward trends. For David Abner, from Gemini Trust Co, ETFs will enable thousands of [investors]( to buy or sell bullish or bearish positions and make “the crypto derivatives market more liquid”. The first ETF trading day [strongly highlighted]( the success of Bitcoin among professional investors. ProShares Bitcoin Strategy ETF saw around $1 billion in volume on its opening day... the highest first day volume for an ETF. Bloomberg senior ETF analyst Eri Balchunas [tweeted]( that ProShares’ ETF was “the strongest in terms of grassroots interest.” Without surprise, [Bitcoin rallied]( above ATH, fuelled by expectations that ETFs will pull money into the digital asset market. It’s also noteworthy that October (“Uptober”) historically is a bullish month for the world’s most capitalized crypto. Who will win from the SEC’s green light? Crypto sceptics might be disappointed. The SEC’s move is a blatant illustration that Bitcoin won’t disappear. On the contrary, the crypto’s implantation within the traditional financial sphere is just beginning. ProShares is the first Bitcoin ETF to be concerned, while other fund managers might soon join the league. The Valkyrie Bitcoin Strategy Fund will begin trading on Nasdaq today, while many other prominent fund managers are on the SEC’s waiting list. For [Reuters]( “the SEC appears prepared to greenlight a handful of filings that would open the door to wider access to crypto.” Beyond professional fields, everyone could win from the SEC’s green light. When the first gold ETF [was approved in 2004]( “the price of spot gold rose almost five-fold over the following seven years.” Will Bitcoin behave the same way? [I wanna know more] Do you want to learn how to leverage trading? Then [read our Ledger Academy article]( to know more about long & short crypto strategies. Do you want to know what one of the most mysterious NFT projects, “The Lost Poets” is all about? [Listen to our latest podcast]( with Robin Schmidt. Ever wondered what happens to your crypto when you die? [Check the answer by reading]( our Ledger Academy article. [Inside Ledger] Your Ledger Nano X hardware wallet is now ready for an update! The update process is very simple: start your [Ledger Live]( go to the [Manager section]( connect your Nano X device and start the firmware update. Looking for a job at Ledger?[Click here to check our open positions.]( We now have a new show: “Down the Rabbit Hole.” It’s global, cool, and 100% crypto.[Just watch the second episode here… And stay tuned for what’s coming next.]( [Images of the week] Crypto fixes this [Meme with the queen]( Credit: How did you like our newsletter this week? 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