Disney’s NFT Leap, India’s Crypto Conundrum, and Nasdaq’s Ethereum ETF Push

Written by BTSE

November 15, 2023

Disney's NFT Leap, India's Crypto Conundrum, and Nasdaq's Ethereum ETF Push

Overnight in Asia, crypto markets faced significant losses. Bitcoin (BTC) fell sharply from around $36,600 to a low of $34,970, following flat October Consumer Price Index (CPI) data, contrary to expectations of an increase. At the time of writing, Bitcoin was trading at about $35,475, marking a 2.6% decrease in 24 hours. Ethereum (ETH) also saw a nearly 4% drop, losing the $2,000 level it had recently regained.


What to Watch Out for Today


1. Disney Dives into Digital Collectibles with Dapper Labs: Disney is making a splash in the digital collectibles world by partnering with Dapper Labs for a “digital pin” platform. What’s the buzz? It’s about bridging a century of Disney and Pixar magic with the futuristic appeal of NFTs. Expect a surge of digital pins featuring Star Wars, Pixar, and Disney characters. The big question: Will this nostalgic yet innovative approach pay off in the ever-evolving NFT market? For Disney enthusiasts and NFT collectors, this could be a realm of new treasures. 


2. India’s Supreme Court Sidesteps Crypto Regulation Appeal: The Indian Supreme Court has tactfully declined a petition to direct government crypto regulations. What’s the context? This move comes amidst a petitioner’s legal tangles, casting doubt on the petition’s intent. The crypto landscape in India remains tumultuous, with regulatory clarity still a distant dream. Key takeaway: Investors and crypto enthusiasts in India should brace for continued uncertainty and tread cautiously in this ambiguous regulatory environment. 


3. Nasdaq Advocates for Ethereum ETF Inclusion: Nasdaq is pushing for an Ethereum ETF, urging the SEC for equitable treatment with commodity-based funds. What’s driving this? The aim is to harmonize the regulation of digital assets like Ethereum with traditional assets. If approved, this could be a groundbreaking moment for Ethereum and its investors, offering a safer and regulated investment avenue. Investor’s note: Keep an eye on this development, as it could significantly influence Ethereum’s market dynamics and investment appeal. Long Ethereum?


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Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

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