## Overview of Bitcoin & Ether ETFs

In recent developments, **Bitcoin and Ether ETFs** have shown promising **tech chart actions**. These investment vehicles are gaining traction as more investors recognize their potential in the ever-evolving cryptocurrency landscape.

## Why ETFs Matter

**Exchange-Traded Funds (ETFs)** offer a unique opportunity for investors to gain exposure to cryptocurrencies without directly purchasing them. This can lead to increased adoption and market stability.

### Key Insights from Recent Chart Actions
- **Strong Performance**: The tech charts indicate a **bullish trend** for both Bitcoin and Ether ETFs, suggesting potential for significant returns.
- **Market Sentiment**: Investors are becoming increasingly **optimistic** about the future of cryptocurrencies, with ETFs playing a crucial role in this shift.

## Conclusion

With the rise of Bitcoin and Ether ETFs, investors are encouraged to keep an eye on market movements and tech indicators. The continued interest in these funds could signal a robust future for cryptocurrency investments.

www.etftrends.com needs to review the security of your connection before proceeding.

Unveiling the Power of Bitcoin & Ether ETFs: Strong Tech Chart Insights

# CFTC Clears the Path for Spot Bitcoin ETF Options

According to **BlockBeats**, on November 16, Bloomberg analyst **Eric Balchunas** announced via social media that the **Commodity Futures Trading Commission (CFTC)** has issued a notice that opens the door for the listing of **spot Bitcoin ETF options**. This marks a significant milestone as it clears the second major hurdle following the **Securities and Exchange Commission (SEC)**.

The next step in this process involves waiting for the **Options Clearing Corporation (OCC)** to officially list these options. This development signifies a major advancement in the regulatory landscape for **Bitcoin-related financial products**. The CFTC's notice is a crucial step towards the broader acceptance and integration of **cryptocurrency options** into mainstream financial markets.

Following the SEC's earlier actions, which were essential for advancing the listing process, the spotlight now shifts to the OCC, which is pivotal for the final approval and listing of these financial instruments.

The potential for spot Bitcoin ETF options is viewed as a **positive development** for the cryptocurrency market, potentially leading to increased participation from **institutional investors**. This could enhance market liquidity and provide more investment opportunities for those interested in cryptocurrency assets. The ongoing regulatory progress reflects a growing recognition of the importance of **digital assets** in the financial ecosystem and the necessity for appropriate regulatory frameworks to support their growth and integration.

According to BlockBeats, on November 16, Bloomberg analyst Eric Balchunas announced on social media that the Commodity Futures Trading Commission (CFTC) has issued a notice that paves the way for the 

CFTC Paves the Way for Spot Bitcoin ETF Options: What It Means for Investors

### Ilya Lichtenstein Sentenced for Bitfinex Hack

Ilya Lichtenstein, who **pleaded guilty** to his involvement in the **2016 Bitcoin hack** of the cryptocurrency exchange **Bitfinex**, has been sentenced to **five years in prison**. The **US Department of Justice (DOJ)** announced this decision on Thursday.

Lichtenstein was part of a **money laundering conspiracy** that resulted in the theft of approximately **120,000 Bitcoin** from Bitfinex.

### Couple’s Bitcoin Hack and Laundering Operation Exposed

Court documents reveal that Lichtenstein utilized **advanced hacking tools** to breach Bitfinex’s network. He fraudulently authorized over **2,000 transactions**, transferring **119,754 Bitcoin** to a wallet he controlled. To evade detection, he deleted access credentials and log files from Bitfinex's network.

After the hack, he enlisted the help of his wife, **Heather Morgan**, to launder the stolen funds. The DOJ disclosed that their **laundering scheme** was “particularly sophisticated.” They created **fictitious identities** to open online accounts, automated transactions, and deposited the stolen Bitcoin into various accounts linked to **darknet markets** and cryptocurrency exchanges.

They also engaged in **chain hopping**, converting Bitcoin into other cryptocurrencies to obscure its origin, and utilized **mixing services** to further disguise the illicit funds, even exchanging some stolen Bitcoin for **gold coins**.

On **August 3, 2023**, both Lichtenstein and Morgan pleaded guilty to **one count of conspiracy to commit money laundering**. Lichtenstein was also ordered to serve **three years of supervised release**, while Morgan’s sentencing is set for **November 18**.

### Bitfinex Declared Primary Victim in BTC Theft

Recently, the **US District Court for the District of Columbia** ruled in favor of Bitfinex, affirming the exchange as the sole entity entitled to restitution for the nearly **120,000 BTC** stolen in the hack. This ruling also led the US government to recognize Bitfinex as the **primary victim** of this incident.

Despite this acknowledgment, the government faces challenges in identifying all affected account holders. Plans are underway to utilize the DOJ’s website dedicated to “large cases” to provide essential notices and streamline the claims process for individuals regarding their **financial losses**.

At the time of writing, Bitcoin is trading at **$88,520**, reflecting a **16% increase** over the week, although it has pulled back from its **all-time high** of **$93,250** reached recently.

Ilya Lichtenstein, who pleaded guilty to his role in the 2016 Bitcoin hack of Bitfinex, has been sentenced to five years in prison.

Major Bitcoin Heist: Hacker Sentenced to 5 Years for Laundering $10.5 Billion from Bitfinex

### **Larry Harmon Sentenced**  
The operator of the cryptocurrency mixing service **Helix** has been sentenced to **three years in prison**.  
**Larry Dean Harmon**, a 41-year-old from Akron, Ohio, **pleaded guilty** in 2021 to conspiracy to commit money laundering. Despite the plea deal, it took three years for the sentencing to occur, and the Justice Department has not commented on the delay.  
  
### **Financial Penalties**  
In addition to his prison term, Harmon has been ordered to forfeit over **$311 million** and faces **three years of supervised release**. His seized assets include cryptocurrencies, real estate, and monetary assets valued at more than **$400 million**.  
  
### **Helix's Operations**  
From **2014 to 2017**, Harmon ran Helix, processing over **$300 million** in cryptocurrency transactions. The platform was notorious for helping cybercriminals launder their **Bitcoin**, linking it to the darknet search engine **Grams**, which Harmon also operated.  
  
### **Mixing Services Explained**  
Mixing services like Helix **pool and mix funds** from various owners, making it difficult to trace the coins back to their original owners. Helix became popular among online drug dealers, processing **354,468 Bitcoin** worth **$311 million** at the time. Harmon profited by taking a percentage of the fees from these transactions.  
  
### **Connections to Darknet Markets**  
The platform's popularity surged due to its connections with other darknet markets, including **AlphaBay**, **Cloud 9**, and **Evolution**, providing an easy financial off-ramp for criminal enterprises.  
  
### **Ongoing Investigations**  
The investigation involved multiple U.S. agencies and international law enforcement, including officials from **Belize**. The **Financial Crimes Enforcement Network** also imposed a **$60 million civil penalty** against Harmon.  
  
### **Family Ties**  
Harmon faced a maximum of **20 years** under original charges. His brother, **Gary Harmon**, received a sentence of over **four years** last year for attempting to steal Bitcoin generated by Larry's operations.  
  
### **Law Enforcement Challenges**  
U.S. law enforcement continues to combat these mixing services, issuing sanctions against popular tools like **Tornado Cash**, **Sinbad**, **ChipMixer**, and others recently charged.  
  
### **Global Sentencing Trends**  
In related news, **Roman Sterlingov**, the operator of **Bitcoin Fog**, was sentenced to **12 years** in U.S. prison last week for running another notorious darknet service.

Larry Harmon ran the mixer from 2014 to 2017, facilitating more than $300 million worth of cryptocurrency transactions.

Sentenced to 3 Years: The Dark Legacy of Helix Cryptocurrency Mixer Operator

### Cathie Wood's Bold Bitcoin Prediction

**Cathie Wood**, CEO of asset management giant **Ark Invest**, has made a striking prediction regarding the future price of **Bitcoin** (CRYPTO: BTC). She suggests that Bitcoin's price could achieve a **base target of $650,000** by **2030**, and under optimistic circumstances, it might soar as high as **$1.5 million**.

### What Drives This Prediction?
In a recent **interview** with CNBC, Wood, a long-time advocate of Bitcoin, highlighted two key factors contributing to this anticipated price surge:
- **Regulatory relief** expected on the horizon.
- Bitcoin's growing **distinction** from other asset classes.

Wood noted that institutional interest in Bitcoin is intensifying, with asset allocators increasingly recognizing its unique behavior compared to traditional assets. Ark Invest was the first public asset manager to invest in Bitcoin at **$250** back in **2015**, and they maintain an optimistic outlook for the cryptocurrency's future.

![Benzinga Future of Digital Assets conference](https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif)

### The Future Landscape
Wood's prediction aligns with Ark Invest's broader outlook, which anticipates that the **upcoming Donald Trump administration** will provide clearer regulations for the cryptocurrency industry in the U.S. She expressed hope for a more **crypto-friendly SEC** following the end of current SEC Chair **Gary Gensler**'s term, moving away from a framework of "regulation by enforcement". This regulatory clarity could be crucial in attracting further institutional investment.

### Upcoming Events
The influence of **Bitcoin as an institutional asset class** will be a significant topic at Benzinga’s upcoming **Future of Digital Assets** event on **November 19**. 

**Read More:** Ark Invest’s Cathie Wood Joins Call For Strategic Bitcoin Reserve, Gives Thumbs Up To Cynthia Lummis’ Plan.

Cathie Wood, CEO of asset management giant Ark Invest, suggested that Bitcoin&#8217;s (CRYPTO: BTC) price could hit a base target of $650,000 by 2030, with an optimistic scenario reaching as high as $1.5 million<

Cathie Wood Predicts Bitcoin Could Reach $1.5 Million by 2030 - Here's Why

### New York Judge Upholds Bitcoin Mining Operation

A recent ruling in **New York** has allowed a controversial cryptocurrency plant to continue its operations despite state regulators' attempts to close it due to climate impact concerns. The **Greenidge Generation** facility, located in the **Finger Lakes** region, has faced criticism from environmental groups since it began mining **Bitcoin** four years ago.

The facility operates using thousands of energy-intensive computer servers that solve complex equations to generate Bitcoin. It draws power from a former coal-burning plant that was converted to natural gas in **2017**. Previously, in **2022**, the **New York Department of Environmental Conservation** (DEC) denied the plant a necessary air permit, citing its greenhouse gas emissions as incompatible with the state’s climate goals.

However, State Supreme Court Justice **Vincent M. Dinolfo** ruled that the DEC failed to provide Greenidge with a chance to defend itself against the alleged violations, labeling it an “interpretative error” under the law. In a statement, Greenidge celebrated the decision, arguing that it protects local jobs from what they describe as politically motivated overreach.

Conversely, environmental advocates argue that Greenidge is contributing to significant carbon emissions and contaminating nearby **Seneca Lake** with heated water discharges. **Mandy DeRoche**, a deputy managing attorney at **Earthjustice**, emphasized the community's concerns over the facility's negative impact on local resources and vowed to continue fighting for its closure.

The DEC accused the plant of misleading regulators about its operations, stating that it primarily serves its own substantial energy needs rather than contributing to the state's electricity requirements as initially claimed. Meanwhile, Greenidge insists it complies with all permits and is **100% carbon neutral** through various offset programs.

**Yvonne Taylor**, vice president at **Seneca Lake Guardian**, expressed concern over the implications of this ruling for the state's climate initiatives, especially with the potential influence of political changes.

### Key Points:
- New York court allows **Greenidge Generation** to continue operations despite environmental concerns.
- The facility has been criticized for its high greenhouse gas emissions since it began Bitcoin mining.
- The DEC previously denied a required air permit, claiming emissions violated state climate goals.
- Environmental groups are committed to fighting against the mine's operations, citing significant environmental impacts.
- Greenidge claims compliance and asserts it is **carbon neutral** through offsets.

A New York judge has rejected an effort by state regulators to shutter a bitcoin mine over concerns about its greenhouse gas emissions.

Court's Bold Decision: New York Bitcoin Mine Can Keep Operating Amid Climate Controversy

Benzinga readers are optimistic about the future of **Bitcoin** (BTC), especially after it recently achieved multiple **all-time highs**. The latest peak was recorded at **$93,434.36** on November 13, 2024, following a strong performance throughout the year, with Bitcoin trading near these highs.

### The Poll Results
Benzinga conducted a poll asking which cryptocurrency readers believe will see the **biggest price increase by the end of 2025**. Here are the results:
- **Bitcoin**: **40%**
- **Dogecoin**: **36%**
- **Ethereum**: **11%**
- **Pepe Coin**: **8%**
- **Shiba Inu Coin**: **7%**

The strong support for Bitcoin is not surprising, given its significant year-to-date gains and current trading levels.

### Performance Overview
- **Bitcoin**: 
  - Price: **$90,570.10**  
  - 7-Day Return: **+17.4%**  
  - Year-to-Date Return: **+105.2%**  
  - All-Time High: **$93,434.36** on 11/13/24  

- **Dogecoin**:  
  - Price: **$0.3720**  
  - 7-Day Return: **+88.9%**  
  - Year-to-Date Return: **+304.3%**  
  - All-Time High: **$0.7376** on 05/08/21  

- **Ethereum**:  
  - Price: **$3,052.10**  
  - 7-Day Return: **+2.8%**  
  - Year-to-Date Return: **+29.9%**  
  - All-Time High: **$4,891.70** on 11/16/21  

- **Pepe Coin**:  
  - Price: **$0.0000221**  
  - 7-Day Return: **+106.1%**  
  - Year-to-Date Return: **+1,481.9%**  
  - All-Time High: **$0.00002524** on 11/13/24  

- **Shiba Inu**:  
  - Price: **$0.00002429**  
  - 7-Day Return: **+28.7%**  
  - Year-to-Date Return: **+127.6%**  
  - All-Time High: **$0.00002517** on 10/27/21  

Bitcoin and Pepe Coin have recently reached **new all-time highs**, while Dogecoin, Ethereum, and Shiba Inu are still below their 2021 peaks. The community's enthusiasm suggests that Bitcoin might continue to lead the market by the end of 2025, as reflected in the poll results.

*The study was conducted from November 14 through November 15, 2024, with 124 adult respondents.*

*Image: Shutterstock*

Benzinga readers see more gains for Bitcoin (CRYPTO: BTC) after the leading cryptocurrency passed multiple new all-time highs after 

Benzinga Readers Predict Bitcoin's Dominance: Which Cryptocurrency Will Surge by 2025?

In November 2021, **El Salvador’s President Nayib Bukele** captivated a crowd of crypto enthusiasts with his ambitious vision to turn the country into a **Bitcoin paradise**. While some of his grand plans, like a billion-dollar Bitcoin-backed bond and a new crypto city, have yet to come to fruition, Bukele can celebrate a significant achievement: El Salvador's Bitcoin holdings recently surpassed **$550 million**, as tracked by an open-source platform.

Meanwhile, **Bhutan** is also reaping the benefits of its crypto investments. Government-associated wallets have seen their value soar past **$1 billion**, representing over one-third of the country's **GDP**. As digital asset prices have surged post the election of the crypto-friendly **Donald Trump**, advocates are pushing for governments to consider Bitcoin as part of their strategic reserves, akin to oil or gold.

### Bitcoin Economies
According to reports, El Salvador holds nearly **6,000 Bitcoin**, with independent trackers suggesting the number is closer to **6,200**. Unlike larger nations like the U.S., China, and the UK, which possess Bitcoin through legal means, El Salvador has intentionally acquired it as part of Bukele's grand strategy, announced during the **Miami Bitcoin conference** in June 2021.

Although El Salvador's wealth has grown due to its Bitcoin holdings, Bukele's broader vision of adopting Bitcoin as **legal tender** has not fully materialized, with actual usage among citizens remaining low. Nonetheless, Bukele has taken to social media to celebrate the country’s Bitcoin success, even posting a triumphant “I told you so” recently.

Bhutan's foray into Bitcoin has been quieter but equally impressive, with its holdings reportedly double that of El Salvador. The country began Bitcoin mining in **April 2019**, leveraging its **hydroelectric resources**. Bhutan's sovereign investment arm, **Druk Holding & Investments**, confirmed its entry into the crypto space, with its Bitcoin investments surfacing in bankruptcy documents from failed platforms like **BlockFi** and **Celsius**.

As of September, blockchain analytics firm **Arkham** began tracking Druk's wallets, which currently hold over **$1 billion** in Bitcoin and smaller amounts of other cryptocurrencies, including **Ethereum**. Both El Salvador and Bhutan exemplify how strategic adoption of blockchain technology can yield significant financial benefits for nations willing to embrace the volatile world of cryptocurrency.

Bhutan and El Salvador have seen their Bitcoin holdings soar beyond $1 billion and $500 million, respectively.

Unveiling the Power of Bitcoin & Ether ETFs: Strong Tech Chart Insights

Summary:

Overview of Bitcoin & Ether ETFs

Why ETFs Matter

Key Insights from Recent Chart Actions

Conclusion

Comments

Subscribe our Newsletter

BitcoinToday.app

Other Latest News

CFTC Paves the Way for Spot Bitcoin ETF Options: What It Means for Investors

Major Bitcoin Heist: Hacker Sentenced to 5 Years for Laundering $10.5 Billion from Bitfinex

Sentenced to 3 Years: The Dark Legacy of Helix Cryptocurrency Mixer Operator

Cathie Wood Predicts Bitcoin Could Reach $1.5 Million by 2030 - Here's Why

Court's Bold Decision: New York Bitcoin Mine Can Keep Operating Amid Climate Controversy

Benzinga Readers Predict Bitcoin's Dominance: Which Cryptocurrency Will Surge by 2025?

Bitcoin Bonanza: How Bhutan and El Salvador Are Winning Big with Crypto Investments!

Other Latest News

CFTC Paves the Way for Spot Bitcoin ETF Options: What It Means for Investors

Major Bitcoin Heist: Hacker Sentenced to 5 Years for Laundering $10.5 Billion from Bitfinex

Sentenced to 3 Years: The Dark Legacy of Helix Cryptocurrency Mixer Operator

Cathie Wood Predicts Bitcoin Could Reach $1.5 Million by 2030 - Here's Why

Court's Bold Decision: New York Bitcoin Mine Can Keep Operating Amid Climate Controversy

Benzinga Readers Predict Bitcoin's Dominance: Which Cryptocurrency Will Surge by 2025?

Bitcoin Bonanza: How Bhutan and El Salvador Are Winning Big with Crypto Investments!