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Surging bitcoin prices following the election of Donald Trump as the next US president have finally given Hong Kong's spot cryptocurrency exchange-traded funds (ETFs) a boost this week, with trading volume surging to a three-month high. Hong Kong's three ETFs that invest directly in bitcoin this week became active trading targets with about HK$135 million (US$17.3 million) changing hands on Tuesday. On most days since the ETFs launched in April, their total daily trading volume lingered below US

European shares opened lower while Asian stocks were mixed on Friday after U.S. stocks slipped as the market’s big rally following Trump's election victory cooled further. Britain’s FTSE 100 lost 0.4% to 8,038.17 after data from the Office for National Statistics showed economic growth slowed to 0.1% in the July-September quarter from the 0.5% in the previous quarter. The yen has been weakening against the U.S. dollar, boosting share prices for exporter like Nissan Motor Co., whose shares jumped 4.5% on Friday.

Federal Reserve Chairman Jerome Powell damped market expectations of quick interest rate cuts by citing the resilience of the economy and the need to adopt a measured approach.

The recent surge in Bitcoin (BTC) prices could well last into 2025 and see it reach highs of $180,000, said Matthew Sigel, head of digital assets research at VanEck.

The mastermind behind one of the most egregious cryptocurrency hacks, Ilya "Dutch" Lichtenstein, has been sentenced to five years in prison for his role in a 2016 hack.

The DeFi Education Fund has mounted a serious legal challenge against the U.S. Securities and Exchange Commission (SEC) in an effort to clip the agency's wings.

“We believe that the underlying strength in BTC represents a systematic shift in the market in anticipation of Trump’s return to office,” QCP Capital traders said in a Friday broadcast.

The Royal Government of Bhutan has sold 367 Bitcoin (BTC), worth about $33.5 million through major cryptocurrency exchange Binance.

Investors need to stop and think.

Shares in Trump media experienced a similar dynamic before the recent price slide.