UBS Will Let Some Customers Trade Bitcoin ETFs, Contrary to Rumors: Source
The Zürich-based banking giant’s decision contrasts with Vanguard’s decision to bar customers from buying bitcoin ETFs.
The Zürich-based banking giant’s decision contrasts with Vanguard’s decision to bar customers from buying bitcoin ETFs.
Some market watchers have termed the trade a possible “marketing stunt,” one that could have drawn attention to WIF as prices took a hit in recent weeks.
Those tweets caused bitcoin prices to immediately spike to $47,680 from the $46,800 level. It then fell as low as $45,400 as the tweets were found to be fake.
Futures tracking crypto markets saw some $155 million in shorts liquidated in the past 24 hours after a sudden uptick in prices in U.S. hours.
Some investors have bought the “No side shares” of the prediction contract to hedge against potential delays in the SEC’s approval of spot ETFs.
“It seems like there’s smoke here, and it may be worth an investigation to see if there’s a fire,” a finance professor said.
The institutional crypto platform uses Nasdaq’s trading tech, and comes out the gates with seven banks and securities firms.
“Due to the rise of Ordinals and Bitcoin L2s, there are reasons to be bullish on the Bitcoin ecosystem. We are entering an era of Bitcoin that we have never seen before,” one market watcher told CoinDesk.
Bitcoin, ether and tether withdrawals will open on Poloniex in the coming weeks.
The “basis trade,” a standout in the 2020/2021 bull market, is hinting at a resurgence, one observer said, referring to the rising futures premium.