$XRP's bullish momentum could set a precedent for $BTC, which could see an increase in demand of $30 billion from spot bitcoin ETFs. JamieCrawleyCD and godbole17 report in First Mover Americas.
The crypto trading firm estimates that there are $27.6 billion in spot-like products, compared with $210 billion invested in funds for gold, to which bitcoin is often compared. “Bitcoin is about 3.6x more volatile than gold, meaning that on a volatility equivalent basis, investors would require 3.6x less bitcoin than gold on a dollar basis to get as much risk exposure. Still, that would result in nearly $30B of incremental demand for a bitcoin ETF,” NYDIG writes.
The prohibitions are aimed at coming into compliance with the Financial Action Task Force's global recommendations for crypto assets, according to the regulator."Securities regulated by the Central Bank of Kuwait and other securities and financial instruments regulated by the Capital Markets Authority are excluded from this prohibition," the regulator said in a circular.
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