New ETFs boost investor sentiment and allow Bitcoin to outpace Ethereum in popularity.
Spectrum Markets data shows a rising bullish sentiment on the biggest cryptocurrency.
Over the
last few months, investor sentiment towards individual cryptocurrencies has
favored Ethereum (ETH) over Bitcoin (BTC). However, the release of the
first-ever spot exchange-traded funds (ETFs) for BTC has changed the balance of
market forces, and now there is a much more bullish positioning towards the
oldest cryptocurrency. This is especially true as its price has reached the
highest levels in two years, exceeding $50,000.
Europeans Show Greater
Interest in BTC over ETH
Spectrum
Markets, a pan-European trading venue, released data showing diverging
sentiment among retail investors regarding BTC and ETH cryptocurrencies in January 2024.
The
company's Spectrum European Retail Investor Index (SERIX) for BTC rose to
109 points, indicating bullish sentiment, while the index for ETH dropped
from 120 points to 103 over the same period. The SERIX scale designates numbers
above 100 as bullish and numbers below as bearish.
Source: Spectrum Markets
This shift
coincided with the US Securities and Exchange Commission (SEC) approving
several BTC ETFs on January 11. The regulatory move opened BTC investments to a wider range of investors. No similar approval has occurred yet
for ETH products.
Michael
Hall, the Head of Distribution at Spectrum Markets, commented that the SEC
approval addresses demand for "enhanced regulatory standards" around
cryptocurrencies.
“Meanwhile,
in the EU, a bitcoin ETF is still not possible under existing regulation as
UCITS regulations do not allow a single reference price for an ETF underlying,”
Hall added. "To stay competitive with the US, EU rules must be adjusted in order
to prevent the diversion of flows, executed in Europe, abroad.”
Spectrum
Markets began offering derivatives linked to both cryptocurrencies in May 2022,
allowing traders to gain exposure without needing separate crypto wallets. The
company said it saw an increase of 2.5 times in BTC trading volume in January
2024 compared to monthly averages for 2023.
Spectrum Reports Volume
for January 2024
In January
2024, Spectrum's total order turnover reached €311.5 million, with 32.1% of
trades taking place outside of traditional hours. The top three underlying
assets traded were Germany's DAX 40 index, the US Nasdaq 100, and the Dow Jones
Industrial Average.
“Looking at
the SERIX data for the top three underlying markets, the DAX 40 sentiment
increased slightly from 97 to 99,” the company commented. “Similarly, the
NASDAQ 100 and DOW 30 both remained bearish at 98, from 98 and 96 respectively
in the previous month.”
Amid
challenging market conditions, the pan-European platform for securities
trading, has set a new record for trading volume in 2023. The company revealed
in its most recent report that its total order book turnover increased 9% to
€3.62 billion over the last year.
The volume
of traded securities in 2023 surged 14%, reaching 1.62 billion securities, a
significant rise from 1.42 billion in the prior year. This activity spanned
nearly 2.5 million transactions, with 33.9% of these trades executed outside conventional trading hours. This supports the previous year's finding that
approximately one-third of all trades are conducted after normal trading hours.
Over the
last few months, investor sentiment towards individual cryptocurrencies has
favored Ethereum (ETH) over Bitcoin (BTC). However, the release of the
first-ever spot exchange-traded funds (ETFs) for BTC has changed the balance of
market forces, and now there is a much more bullish positioning towards the
oldest cryptocurrency. This is especially true as its price has reached the
highest levels in two years, exceeding $50,000.
Europeans Show Greater
Interest in BTC over ETH
Spectrum
Markets, a pan-European trading venue, released data showing diverging
sentiment among retail investors regarding BTC and ETH cryptocurrencies in January 2024.
The
company's Spectrum European Retail Investor Index (SERIX) for BTC rose to
109 points, indicating bullish sentiment, while the index for ETH dropped
from 120 points to 103 over the same period. The SERIX scale designates numbers
above 100 as bullish and numbers below as bearish.
Source: Spectrum Markets
This shift
coincided with the US Securities and Exchange Commission (SEC) approving
several BTC ETFs on January 11. The regulatory move opened BTC investments to a wider range of investors. No similar approval has occurred yet
for ETH products.
Michael
Hall, the Head of Distribution at Spectrum Markets, commented that the SEC
approval addresses demand for "enhanced regulatory standards" around
cryptocurrencies.
“Meanwhile,
in the EU, a bitcoin ETF is still not possible under existing regulation as
UCITS regulations do not allow a single reference price for an ETF underlying,”
Hall added. "To stay competitive with the US, EU rules must be adjusted in order
to prevent the diversion of flows, executed in Europe, abroad.”
Spectrum
Markets began offering derivatives linked to both cryptocurrencies in May 2022,
allowing traders to gain exposure without needing separate crypto wallets. The
company said it saw an increase of 2.5 times in BTC trading volume in January
2024 compared to monthly averages for 2023.
Spectrum Reports Volume
for January 2024
In January
2024, Spectrum's total order turnover reached €311.5 million, with 32.1% of
trades taking place outside of traditional hours. The top three underlying
assets traded were Germany's DAX 40 index, the US Nasdaq 100, and the Dow Jones
Industrial Average.
“Looking at
the SERIX data for the top three underlying markets, the DAX 40 sentiment
increased slightly from 97 to 99,” the company commented. “Similarly, the
NASDAQ 100 and DOW 30 both remained bearish at 98, from 98 and 96 respectively
in the previous month.”
Amid
challenging market conditions, the pan-European platform for securities
trading, has set a new record for trading volume in 2023. The company revealed
in its most recent report that its total order book turnover increased 9% to
€3.62 billion over the last year.
The volume
of traded securities in 2023 surged 14%, reaching 1.62 billion securities, a
significant rise from 1.42 billion in the prior year. This activity spanned
nearly 2.5 million transactions, with 33.9% of these trades executed outside conventional trading hours. This supports the previous year's finding that
approximately one-third of all trades are conducted after normal trading hours.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
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We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
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He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
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Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
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Builder | Adviser | Fintech Writer | Product Strategist
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We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
