Ultron AI Morning News| 20/06/2024

 Bernstein predicts spot Bitcoin ETFs near approval at major wirehouses; maintains $200,000 target by 2025 end


While bitcoin bears argue the spot Bitcoin exchange-traded fund trade is “done,” they are missing two key factors, according to analysts at research and brokerage firm Bernstein. Arguments against the Bitcoin ETF trade revolve around early allocations being driven by retail investors, with institutional involvement confined to the basis “cash and carry” trade rather than net long positions, meaning the ETF flows are not “real,” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Tuesday.



 Hedge funds betting on SEC greenlighting spot Ethereum ETFs – VanEck

VanEck head of digital assets research Matthew Sigel believes financial institutions are gearing up for the imminent launch of spot Ethereum (ETH) exchange-traded funds (ETFs) in the US despite the funds pending regulatory approval. He added that data from K33 Research indicates a significant rise in inflows to Ether exchange-traded products (ETPs) outside the US markets, which suggests that large investors are preparing for the regulatory green light for the spot Ethereum ETFs.



Moody's assigns investment-grade "A-bf" rating to OpenEden's token bond

On June 20, global credit rating agency Moody's Ratings has assigned an A-bf bond fund rating to Hill Lights International Limited, a regulated fund that issues OpenEden's tokenized US TBILL.
The rating places OpenEden's TBILL token in the investment-grade quality category. According to Moody's Ratings and Symbol Definitions, money market funds and bond funds rated A are considered to have many favorable investment values ​​and investment characteristics and are medium-to-high quality investment tools.


US judge dismisses Meta's request to dismiss Andrew Forrest's lawsuit

Ultron AI reported that Meta cited part of a 1996 federal law in an attempt to evade Australian billionaire Andrew Forrest's crypto advertising lawsuit. A US judge dismissed Meta Platform's request to dismiss Australian billionaire mining tycoon Andrew Forrest's lawsuit, which accused Forrest of using deep fake images in Facebook ads to promote cryptocurrency scams.
In an order on June 17, California District Judge Casey Pitts said that Forrest could re-file the lawsuit and try to prove that Meta's negligence in failing to prevent scam ads violated its obligation to operate in a "commercially reasonable manner."
Earlier on February 22, Facebook said it was not responsible for billionaire Andrew Forrest's crypto scam ads.



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