Fintech PR
Bitcoin Price Hits $37,000 While Bitcoin ETF Token Smashes $150,000 as High-Profit Alternative
NEW YORK, Nov. 9, 2023 /PRNewswire/ — The Bitcoin price has hit $37,000, making good on all the losses suffered since TerraUSD imploded 18 months ago, but in-the-know traders think Bitcoin ETF Token ($BTCETF) is a Bitcoin alternative with greater potential.
New cryptocurrency Bitcoin ETF Token’s ICO is only days old but has pulled in $150,000 from investors because of its audacious pitch into the lucrative Bitcoin ETF theme that underpins the current crypto rally. $BTCETF is also garnering attention because of its DeFi attributes.
Crypto is seeing the return of animal spirits as speculative flows come back into the market. Energizing the Bitcoin and broader crypto bull run are factors such as the pause or possible termination of the Fed’s interest rate hike cycle and the prospect of a spot Bitcoin ETF launch.
Also encouraging traders to re-enter the market is the state of play in other asset classes, in particular stocks, where the rally of the past year has returned just 10% while Bitcoin has more than doubled in price, up 127% during the same period.
Indicative of the end of the so-called crypto winter is the positive funding rate in the perpetual futures market for Bitcoin and the rise in yields on offer in the decentralized finance (DeFi) space.
Over the past few weeks, the Bitcoin perpetual futures funding rate on an open-interest weighted basis is averaging levels last achieved in March this year. A positive funding rate indicates a preponderance of long positions in the market.
Similarly, after lows last registered in 2021, total value locked (TVL) in DeFi protocols has now turned sharply higher to $44 billion, although that’s still some way off the highs of 2021 when TVL reached $180 billion.
Bitcoin ETF Token is the smart way to play this Bitcoin ETF-inspired rally and the DeFi renaissance
$BTCETF tokens can be bought in presale today and staked to earn an annual percentage yield currently sitting at 1,584%. Nearly 19 million $BTCETF tokens have already been deposited into the staking smart contract. The APY is dynamic, which means it is based on the number of tokens staked, with each individual’s rewards determined by the percentage of the staking pool they hold.
In order to lock in the lowest price, prospective buyers will need to move fast as the current stage ends in less than 48 hours, after which the price rises in Stage 2 of the ICO from $0.0050 to $0.0052. There are 10 price stages in all, ending at a price point of $0.0068, which is 36% above the opening offer price.
The Bitcoin ETF Token links its valuation to the progress of the spot Bitcoin ETF US Securities and Exchange Commission (SEC) approval process, for which a minimum eight-day window opened on Thursday. For the duration of this window, the SEC has the option of moving ahead with issuing an approval order.
According to Bloomberg Intelligence analysts James Seyffart and Eric Balchunas, the SEC could “theoretically issue approval orders.” There are 12 spot Bitcoin ETFs awaiting approval.
The pair also added in their note to clients that even if the eight-day window is a long shot, they hold to their previously declared position that there is still a 90% chance of approval on January 10, when the ARK 21 Shares Bitcoin ETF comes up for consideration.
Grayscale Bitcoin Trust conversion talks reported – it’s time to position for price explosion with Bitcoin ETF Token
The possibility of a spot Bitcoin ETF approval taking place before the deadline of January 10 for the ARK 21 Shares Bitcoin ETF was initially not seen as very likely.
However, a parallel process concerning the Grayscale Bitcoin Trust’s (GBTC) attempt to convert to an ETF has stirred the pot. The opportunity to position portfolios for the coming price explosion is narrowing as a constellation of events adds to FOMO.
A report emerged in the media yesterday claiming that the SEC has opened talks with Grayscale concerning its application to convert its closed-ended trust to an open-ended ETF.
The crucial difference between the two is that investors can redeem funds in an ETF without affecting the price. Close-ended funds like the Grayscale Bitcoin Trust have a fixed number of shares that trade on the open market, and their value changes with supply and demand.
Close-ended trusts trade at a discount or premium to their net asset value. In the case of GBTC, it has moved from trading at a premium during the bull market to today trading at a discount, meaning the value of the shares is less than the value of the Bitcoin the trust holds.
If GBTC is approved for conversion to an ETF, it will make redemption of shares less problematic because ETF shares can only be sold back to the issuer – shares are created or liquidated depending on the fluctuation in demand, with the price of the ETF set at the end of each day.
Another downside with GBTC is that it has to be bought in the over-the-counter market and therefore shuts out investors of modest means, limiting its buyer profile to institutions.
Up until now the product application that has been most closely watched, aside from the ARK 21 Shares ETF due to its front position in the queue, is the iShares Bitcoin Trust ETF, because it is issued by the world’s largest asset manager, BlackRock.
A spot Bitcoin ETF will transform the market – Bitcoin ETF Token appeals to hot-money speculative traders as well as longer-term investors
Whichever spot Bitcoin ETF comes to the market first, the entry of a spot instrument will have a seismic impact on the marketplace. The US ETF market is valued at around $7 trillion and if the impact of the introduction of a Gold ETF is anything to go by, a spot Bitcoin ETF will be transformative.
Retail and institutional market participants will have a regulated route to gain exposure while the issuer of the funds will need to buy Bitcoin on the open market to hold in their funds.
With only a limited number of Bitcoin in circulation and demand set to explode, there is no telling where the price could end up as the bull market gets going.
Bulls are also acutely aware of the Bitcoin halving event that will take place in April next year, and how this four-yearly reduction in the rewards paid to miners for block production has previously ushered in a rally to new highs.
For all of the above reasons, it makes sense for a growing number of the most high-risk traders to leverage long positions on Bitcoin. Depositing into DeFi lending protocols in order to access leverage is the source of the rising yields now being offered in the space.
In this highly positive market setup, Bitcoin ETF Token’s staking yields make it an attractive proposition for DeFi players. Bitcoin ETF Token is also a lower-risk, higher-reward proposition, making it attractive to hot money speculative traders and longer-term investors.
Instead of the source of the yields being depositors of stablecoins into lending protocols, Bitcoin ETF Token simply allocates a percentage of its token supply to paying rewards, thereby reducing the risks associated with yield farming.
Burn mechanism linked to real-world spot Bitcoin ETF events means $BTCETF holders profit directly
The story doesn’t end there – Bitcoin ETF Token also has a deflationary burn mechanism that is price-supportive because it reduces the total token supply.
Bitcoin ETF Token launches with a 5% burn on all transactions. Up to 25% of the total token supply is eligible to be burned.
Cleverly, the burn mechanism is tied to real-world events related to spot Bitcoin ETF news flow, where milestones such as approval and launch dates and the level of assets under management (AUM), trigger burn events.
For example, when the trading volume of $BTCETF reaches $100 million the transaction tax reduces from 5% to 4%. There are other clever milestones, such as when the first spot Bitcoin ETF is approved the sales tax is reduced from 4% to 3%.
$BTCETF is the perfect vehicle to help you position your portfolio to profit from the spot Bitcoin ETF FOMO.
Bitcoin ETF Token has a total supply of 2.1 billion (2,100,000,000). The project’s website has a helpful newsfeed to keep you up to date with all the news related to Bitcoin ETFs and the Bitcoin price.
The $BTCETF token is probably one of the smartest and cheapest ways to capture the alpha returns promised by the launch of a spot Bitcoin ETF. The token is in presale today and only costs $0.005. There is a low hard cap total of $4,956,000 million, which is adding to the FOMO.
Stay on top of Bitcoin ETF Token project news by following the X (formerly Twitter) account and joining its Telegram Community.
For more information email: [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/bitcoin-price-hits-37-000-while-bitcoin-etf-token-smashes-150-000-as-high-profit-alternative-301983895.html
Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
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View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html
Fintech PR
Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
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View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html
Fintech PR
China’s AIMA brand electric motorbike is now in Bangladesh
DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
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View original content:https://www.prnewswire.co.uk/news-releases/chinas-aima-brand-electric-motorbike-is-now-in-bangladesh-302314773.html
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