November concluded on a positive note as the Nasdaq Crypto Index (NCI) surged by 5.7% throughout the week, closing the month with a 10.8% gain. The primary driver was ether (ETH), which experienced a notable 5.4% uptick for the week and a 12.6% surge for November. Bitcoin (BTC) also saw gains, closing the week up 5.7% and 9.9% for the month. Notably, both BTC and ETH reached yearly highs as the month came to a close. In the past 10 years, with the exception of 2013, every time BTC went up in both October and November, December followed with a green move.
Hashdex releases our 2024 Crypto Investment Outlook
The report covers the major investment themes for the new year and helps to provide context for recent price appreciation. The full Outlook can be found here.
SEC continues its work on spot bitcoin ETFs
UK asset managers given go-ahead to launch ‘tokenized’ funds
The UK's financial regulator endorses a blueprint for asset managers to tokenize funds using blockchain. Tokenization is seen as a way to boost efficiency and transparency in financial services, with real-time record-keeping reducing costs and enabling quicker settlements. This aligns with the global trend of investment firms adopting digital asset strategies and tokenization.
MicroStrategy buys $593M of BTC, may raise up to $750M in new stock sale
MicroStrategy, led by Michael Saylor, has made its largest bitcoin purchase in over two years, acquiring an additional 16,130 bitcoins for $593.3 million. This transaction elevates the company's total bitcoin holdings to 174,540 bitcoins, reassuring its leadership among public companies in including bitcoin as a balance sheet strategy.
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