HoonSmart.com>>The US Securities and Exchange Commission approves the creation of the Spot Bitcoin ETF as the market expects, supporting Bitcoin price to continue above $46,000, anticipating increased demand. To signal new products and Thai stocks doing related businesses also benefit. The exchange supports the creation of funds. Good supervision increases the opportunity for them to better diversify their risks.
The US Securities and Exchange Commission (SEC) approved the creation of the Spot Bitcoin ETF based on market expectations, sending the price of Bitcoin up $479.04, or 1.05%, to trade at $46,301.69, last at 5:03 p.m. Thailand time on January 11, 2024, based on the expectation of increased demand for Bitcoin as a signal for the release of the Spot Bitcoin ETF, with the price of Bitcoin continuously rising. As a result, the share prices of relevant companies will also rise accordingly. Although there are some profits when the good news runs out. Because of the SEC decision it is something the market expected before.
Analysts at Standard Chartered Bank expect the Spot Bitcoin ETF to attract $100,000 to the cryptocurrency market. 50,000-100,000 USD in 2024 and will push the price of Bitcoin to the $100,000 level.
Among the stocks that benefited from the rise in the price of Bitcoin was Jasmine Technology Solutions (JTS), where the price rose to a maximum of 86.75 baht, and a minimum of 78.50 baht, closing at 82.75 baht, with a decrease of 0.50 baht or -0.60%, with the trading value increasing by $ 304 million baht, Zika Innovation Corporation (ZIGA) rose to a maximum of 3.16 baht before falling to a low of 3.02 baht, closing the market at 3.12 baht, an increase of 0.06 baht or 1.96%. Shares of Xspring Capital (XPG), the highest price was 1.28 baht, and the lowest price was 1.17 baht, closing at 1.23 baht, down 0.02 baht, or 1.60%, and M Vision (MVP), the highest price was 1.78 baht, and the lowest price was 1.56 baht, closing at 1.58. pale. Plus 0.04 baht or 2.60% and Bru Kerr Group (BROOK) highest at 0.61 baht before the lowest at 0.59 baht, and stands in the area until it closes at 0.60 baht plus 0.02 baht or 3.45%.
Mr. Phakorn Pitatawachai, Director and Director The Stock Exchange of Thailand (SET) stated in the case that the US Securities and Exchange Commission approved the creation of the Spot Bitcoin ETF that originally invested in digital assets. For Bitcoin, my concern is that when I invest, will there be liquidity? Protecting investors' rights and taking care of various risks. How can I do that? As a regulatory agency
The emergence of Bitcoin exchange-traded fund What will make it more stable is that institutional investors invest in such assets, and due diligence will be done to examine and analyze the condition of Bitcoin, giving individual investors who invest in assets confidence that institutional investors will help protect the rights of small investors to Somewhat. However, the risks of these assets depend on each investor. How appropriate are risk and return expectations?
Mr. Sorenphon Tuliasathin, Deputy Director of Stock Exchange of Thailand added that it is good for supervision. Because it is an investment through the traditional investment channel, that is, through the stock exchange using the ETF mechanism, and it represents an opportunity for those to better diversify their investment risks.
If we look at 2020-2021 with investments in digital assets. That year, millions of people opened investment accounts on the stock market. It is an opportunity for new generations to come and be able to invest at the same time. Between digital assets with other assets can go together
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