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Your guide: How are Bitcoin ETFs Taxed? Exchange Traded Funds (ETFs) that hold Bitcoin are becoming more popular as a way to invest in Bitcoin without actually holding the cryptocurrency. Although, Bitcoin ETF s have tax effects, just like any other investment. Knowing how Bitcoin ETF s are treated can help you make smart choices and keep you from being surprised when it’s time to pay your Taxes . The main parts of Bitcoin ETF taxation are broken down clearly and easily in this guide. Keep reading to learn more. Also read: Bitcoin: BlackRock Says ETFs Will Reach $4T by 2030 How Bitcoin ETFs are Taxed Most Bitcoin ETFs are set up as grantor trusts. So, the ETF holds Bitcoin as its underlying asset, and the value of the ETF shares is equal to the value of the Bitcoin owned. The way Bitcoin ETFs are taxed is similar to how grantor trusts are taxed. This makes the tax effects simple but important to understand. Gains and Losses on Capital You might make or lose money when you sell Bi...

Jito (JTO) price bounced off lows of $2.79 and is eyeing new momentum above $3. A potential cup and handle pattern could see bulls target breakout alongside Bitcoin. With BTC outlook positive, a rally for JTO could bring a 50% upside from current levels. Jito (JTO) is looking to extend gains above $3 after bulls bounced off the support zone on March 29. JTO reached highs of $3.83 on March 16, tracking gains by Bitcoin and top altcoins as BTC reached a new all -time high above $73k and ETH broke above $4,000. Jito price outlook amid bullish Bitcoin sentiment Despite paring gains, Jito looks to have established a fresh support zone at $2.75. The resulting upside to above $3.20 keeps the restaking protocol’s price in an uptrend, which has been in place since JTO/USD bottomed in early January. In this case, the $3.50-$3.75 area looks crucial for bulls. Although Jito remains in an uptrend, there’s potential for a downward flip if bulls fail to co...

Bitcoin is currently trading at the $67,500 level on Monday after touching an all-time high of $73,737 last week. The surge in price comes after the U.S. Securities and Exchange Commission (SEC) approved the Spot Bitcoin ETF in mid-January this year. Trillion-dollar-worth asset managers like BlackRock, Greyscale, and Fidelity, among others, provided BTC ETF services to their clients. Also Read: India Ditches BRICS Countries, Buys More U.S. Oil A decade ago, it would have been unheard of that leading financial institutions want to be a part of the Bitcoin phenomenon. However, despite bashing blockchain technology over the years, they eventually entered the cryptocurrency market in 2024. Both retailers and financial institutions now want to eat the larger share of the pie that BTC has to offer. The Next 10 Years Will Be Different For Bitcoin (BTC) Source: Watcher Guru While the mainstream is acknowledging BTC in 2024, the larger acceptance will come through in the next 10 ye...

The Bitcoin Fear and Greed Index is flashing red hot at 90, signifying a market rife with excitement – and perhaps over-excitement. This prediction may have already come true, with the price tumbling back down to the $67K level after hitting a new ATH of $73k. While Galaxy Fox isn’t immune to infectious optimism that can overheat markets, some analysts are suggesting it could be the best upcoming ICO project with strong fundamentals and the potential to deliver high returns in 2024. This article explores the current market sentiment and the risks of investing. We’ll also delve into some “safer bets” within the Crypto space, with Galaxy Fox taking center stage as a project that could be poised for significant growth. Extreme Greed: A Double-Edged Sword The Fear and Greed Index serves as a compass for investor sentiment in the Crypto market. A score near 90 signifies rampant optimism, often fueled by the fear of missing out or FOMO....

Bitcoin Dogs (0DOG): Just six days to go before presale ends Analysts are bullish on Bitcoin price and the ecosystem building on top of the network. Bitcoin Dogs is one of the projects likely to dominate the NFT and game ecosystems on Bitcoin. Bitcoin Dogs (0DOG) is on an astounding run, with the world’s first-ever ICO on Bitcoin hitting an impressive $9.2 million raised in just 24 days. With crypto bullish and Bitcoin Dogs just six days off its presale end, the project could be poised to comfortably surpass its target of $9.5 million. Bitcoin Dogs and Bitcoin (BTC) sentiment Bitcoin’s price surge to an all-time high above $70k on Friday has the investors eyeing the next big rally – the post halving pump. In the quest to position for the parabolic gains that could follow across the altcoin market, investors are aggressively positioning with top tokens. This outlook is also helped by the overall sentiment around equities, with tech stock...

The cryptocurrency market is rallying hard this week after Bitcoin climbed above the $63,000 mark on Wednesday. The digital assets sectors experienced an influx of new investments after the SEC approved the Bitcoin ETF early this year. The development propelled Bitcoin to skyrocket and now, the GOLD prices are following suit as the XAU/USD chart hit $2,055. Also Read: Ripple: XRP Forecasted To Surge 200% Source: Investing.com Gold prices are rallying similar to Bitcoin this week making the precious metal reach a new weekly high. The commodity market is gaining significantly while the forex market, mostly the US dollar is heading south. In this article, we will highlight why GOLD prices went north and how can it go in March 2024. After Bitcoin, Why Are Gold Prices Rising? Source: ShutterStock The price of GOLD hit $2,055 and is up nearly 11 points in the 24-hours day trade. Gold also spiked 0.5% since yesterday and is displaying extreme bullish sentiments similar to Bit...

The cryptocurrency market has always been a hub of activity, attracting investors eager to leverage price fluctuations for profit. However, a recent move by a Bitcoin whale has left the crypto community astonished, as they managed to amass a substantial $13.5 million in just four days through a sequence of strategic transactions. Identified by blockchain analytics platform Lookonchain, this whale executed a bold maneuver by withdrawing an impressive 2,742 Bitcoin from Binance, one of the leading cryptocurrency exchanges globally. At the time of withdrawal, the value of these BTC amounted to $118.66 million, with each Bitcoin trading at $43,277. A whale deposited 2,742 $BTC($132M) to #Binance 9 hours ago and made ~$13.5M in only 4 days! This whale withdrew 2,742 $BTC($118.66M) from #Binance at $43,277 before $BTC price rose, then deposited all $BTC to #Binance at $48,193 9 hours ago.https://t.co/5Ncwj2uyu9 pic.twitter.com/iCt7HSqZ0I — Lookonchain (@lookonchain) Febru...

The US government has issued a notice on the sale of over $130 million in BTC linked to Silk Road. Court documents indicate this includes 2,874 BTC seized from drug trafficker Ryan Farace and 58 BTC from convicted law enforcement agent Sean Bridges. BTC price remained near $40k, but market is watching Ethereum, Solana. Crypto news today is dominated by the US government’s notice about its plans to sell over $3,200 Bitcoon (BTC) worth more than $130 million. Documents show that these bitcoins are part of the forfeitures related to the infamous darknet marketplace Silk Road. While the news has had no major impact on BTC price as of writing, the market is abuzz with what the outlook for the top crypto by market cap could mean for altcoins . Elsewhere, the potential resurgence in meme coins has traders eyeing the next gem. Could Memeinator (MMTR) be one of the tokens to watch ? US government to sell BTC worth $130 million On Thursday, January 25, the Un...

JPMorgan analysts said in a note on Thursday that Bitcoin’s downside pressure could be easing amid a downtrend in GBTC outflows. Grayscale’s GBTC has seen over $4.3 billion in outflows amid profit-taking. Bitcoin price hovered around $39,800 as bulls struggled to reclaim the $40k level. The selling pressure that hit Bitcoin ( BTC ) in the aftermath of the approval of spot Bitcoin ETFs has largely eased off, according to analysts at JPMorgan . A research note the analysts at the bank, led by Nikolaos Panigirtzoglou published on Thursday, suggests that the level of outflows witnessed with Grayscale ’s G BTC shows the expected profit-taking has already occurred. GBTC outflows reducing, but… On Wednesday, January 24, GBTC outflows hit $425 million for the day, a scenario Bloomberg’s senior ETF analyst Eric Balchunas said was the “lowest bleed since day one.” While still a large figure, the amount decline showed the o...

Mathew McDermott, head of digital assets at Goldman Sachs, says that a spot Bitcoin (BTC) and Ethereum (ETH) ETF (Exchange Traded Fund) will increase institutional interest in cryptocurrencies. While speaking to Fox Business, McDermott stated, “ One, it broadens and deepens the liquidity in the market. And why does it do that? It does that because you’re creating institutional products that can be traded by institutions that don’t need to touch the bare assets. “ Also Read: Bitcoin ETF Sparks Fears of Cryptocurrency Exchange Bloodbath However, McDermott does not anticipate a sudden transformation with a spot ETF approval. Instead, the Goldman Sachs exec expects a gradual shift in the landscape over the next year. Moreover, McDermott says that the increasing acceptance of cryptocurrencies will decrease risks. He added, “ It can have a lot of very positive impacts in terms of business model. “ How high can Bitcoin go if a spot ETF is...

The excitement surrounding the possible approval of Bitcoin exchange-traded funds (ETFs) in the United States has reached a peak. Analyst James Seyffart from Bloomberg recently provided insights into the upcoming decisions by the U.S. Securities and Exchange Commission (SEC) concerning Bitcoin spot ETF applications submitted by Hashdex and Franklin on Nov. 17 and Global X ETF on Nov. 21. Seyffart’s Observations As per James Seyffart, a well-known analyst at Bloomberg, a crucial decision moment is imminent as the SEC is poised to decide the fate of three spot Bitcoin ETF applications. Despite expecting potential delays, Seyffart remains positive, asserting a 90% likelihood of approval before Jan. 10, 2024. In a tweet, he addressed the potential delays from the SEC, emphasizing that such delays would not change the 90% odds for approval. Okay, we're nearing in on deadline dates for 3 spot #Bitcoin ETF applications. I want to get ahead of it because there's a pretty good cha...

Galaxy Digital, a crypto currency fund, has expressed an optimistic outlook. The strong demand for a Bitcoin ETF is evident from recent market reactions. The mere rumor of an ETF launch last week caused a rapid 10% surge in Bitcoin prices within hours. Similarly, the revelation of the ticker for BlackRock’s proposed Bitcoin ETF triggered a 12% increase in a single day. According to the research, the projected inflows from these ETFs could lead to a substantial 74% surge in Bitcoin’s price. This is during the initial year, taking into consideration the liquidity and price impact resulting from substantial investments. The research report, coupled with an Oct. 24 blog post by Galaxy Digital’s research associate Charles Yu, arrived at the 74% figure by assessing the potential price impact of fund inflows into Bitcoin ETFs, drawing on gold ETFs as a benchmark. Yu’s Analysis suggests that Bitcoin’s price could experience a 6.2% increase in the first m...

Arkham announced it identified nearly $25 billion in Bitcoin in crypto exchange Coinbase’s portfolio. The BTC holdings are approximately 948,000, closer to the 1 million BTC of Satoshi Nakamoto. Coinbase is thus the world’s largest known Bitcoin entity, Arkham analysts said on X. Blockchain intelligence firm Arkham has reported that Coinbase holds Bitcoin (BTC) worth about $25 billion, making the cryptocurrency exchange the world’s largest entity holding the flagship digital asset. Arkham says Coinbase holds nearly 1 million BTC Arkham’s announcement on Friday was that it had identified nearly 1 million BTC on-chain for Coinbase reserves, with this making the US-based crypto behemoth “the largest Bitcoin entity in the world on Arkham.” The holdings account for about 5% of all bitcoin in existence and means the exchange’s BTC is nearly as much as that attributed to Bitcoin creator Satoshi Nakamoto....

President Nayib Bukele of El Salvador unveiled a historic bill, pushing Bitcoin into the national spotlight as legal tender. This decision marked El Salvador as the first nation globally to embrace Bitcoin as an official currency. The announcement took center stage at the Bitcoin 2021 Miami conference, where President Bukele shared his vision. Subsequently, on September 7, 2021, the legislation came into effect, officially endorsing Bitcoin as a recognized legal tender within the country’s borders. Today, El Salvador celebrates two years since this historic turning point. 🇸🇻 Two years ago today, El Salvador adopted #Bitcoin as legal tender. pic.twitter.com/1oV5YSGaP8 — Watcher.Guru (@WatcherGuru) September 7, 2023 El Salvador’s pro-bitcoin moves over the last two years According to Bukele, the primary objective behind making Bitcoin legal tender was to bolster the well-being of both the nation and its citizens. A staggering 70% of...

October turned the tables in 2021 as the markets rallied hard making leading cryptos gear up to their all-time highs. October and November 2021 attracted heavy bullish sentiments and the crypto markets reached their peak during this period. However, a year later now in October 2022, investors&rsquo ; mood is dampened due to the harsh and ongoing bear markets. Leading crypto s are down for nine months straight with no signs of returning to normalcy. However, the crypto markets are still lucrative as favorite coins are now down nearly to their two-year lows. Also Read: How Many Days Did Bitcoin Take to Get Its First Use-Case? Top 3 Cryptos to Watch Out For in October 2022 1. Bitcoin (BTC) Source: usa.kaspersky.com Bitcoin is currently hovering around the $19,500 mark and despite being down this year, BTC remains not out. The king crypto is known for its volatility and it can swing both ways proportionally in the indices. BTC is fluctuating between $18,000 to $24,500 f...