Ethiopia and Eritrea accuse one another of launching war

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By TOE | Posted TOE Ethiopia and Eritrea each accused the other of starting a war of aggression on Friday as an internal Ethiopian conflict threatened to escalate into a regional war. Ethiopia accuses Eritrea of backing rebels in its northern Tigray state, who launched attacks against federal forces last month. The two countries severed diplomatic relations, and over the past week, Eritrean troops have been seen in northern Tigray with Ethiopia launching drone strikes against their forces. A foreign security source, speaking on condition of anonymity, told AFP they estimated 5,000 to 8,000 Eritrean soldiers were present in Tigray. Eritrea’s conduct is “a blatant act of aggression that engages Ethiopia’s inherent right to self-defence”, Ethiopian Foreign Minister Gedion Timothewos wrote in a letter to diplomats. Eritrea’s information minister, Yemane Gebremeskel, responded on X that it was facing “an unprovoked war of aggressio...
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VanEck Goes Back To The Drawing Board: Unveils Revised Spot Bitcoin ETF Filing

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In a recent development, asset manager VanEck joins the list of applicants who have made revisions to their Spot Bitcoin ETF prospectus. Many continue to speculate that these revisions could mean that approval of these funds by the US Securities and Exchange Commission (SEC) is imminent as it forms part of the process before an ETF launches. 

Notables From VanEck’s Revised Prospectus 

In a post on his X (formerly Twitter) platform, prominent finance lawyer Scott Johnsson mentioned how the asset manager’s revised prospectus shared a similar language to BlackRock’s as it relates to seeding. However, he said it isn’t too surprising since the same lawyers at the international law firm Clifford Chance represent both asset managers. 

Despite the similar language, there was a particular difference he highlighted between VanEck’s latest filing and BlackRock’s. While revealing plans to seed, VanEck suggested that it would be done with Bitcoin, unlike BlackRock, which had stated in theirs that their seeding would be done with cash. 

Despite the choice of words, Johnsson was cautious about reading too much meaning into it. While he acknowledged that it was definitely an affirmative addition, he noted that it could either suggest actual intent or just rather be “lazy lawyering.”

VanEck joins the likes of BlackRock, ArkInvest, and Fidelity, who had previously filed their revised version of their Spot Bitcoin ETF application.

Is A Spot Bitcoin ETF Really Important?

Bloomberg Analyst Eric Balchunas recently gave his opinion on why he believes that a Spot Bitcoin ETF is important, considering that many could just purchase Bitcoin directly. He opined that these ETFs are important because of the convenience that they provide investors. 

Others in the comments also weighed in on how ETFs also provide safety and trust as these asset managers usually have to abide by certain regulations (especially from the SEC), and investors can, therefore, be rest assured that their assets are safe and even insured, unlike centralized exchanges that could pack up at any time with there being any recourse for customers. 

Meanwhile, one can also argue that these ETFs are also important to the mainstream adoption of Bitcoin as an asset. In a recent research paper, Galaxy Digital captured why these funds could be “particularly impactful” for the market adoption of bitcoin. 

One of the reasons mentioned was that a Spot Bitcoin ETF provides greater accessibility, especially for retail and institutions. There is also no doubt that these asset managers have a wider reach, especially when it comes to those who are ready to place big bets on Bitcoin. 

As the research firm succinctly put it, having a familiar and trusted brand like BlackRock offer a Bitcoin ETF would help attract a “larger portion of the older, wealthier population that have not yet been onboarded.”

Bitcoin price chart from Tradingview.com



from Bitcoinist.com https://ift.tt/WqGt5vP

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