According to a recent Bernstein report, the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) in the US may establish a precedent for classifying Solana (SOL) as a commodity. The classification of cryptocurrencies as either securities or commodities holds significant implications. Commodity classification facilitates ETF applications and approvals, while security classification subjects assets to […]
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A bipartisan group of US lawmakers advised the Securities and Exchange Commission (SEC) in a May 22 letter to approve spot Ethereum exchange-traded funds (ETFs). The letter signatories included Financial Committee Vice Chairman Rep. French Hill, House Majority Whip Tom Emmer, and Representatives Josh Gottheimer, Mike Flood, and Wiley Nickel. Ethereum ETF In the letter […]
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Hong Kong’s Securities and Futures Commission (SFC) is reportedly considering allowing Ethereum ETFs under its jurisdiction to stake their tokens, a stance notably different from that of US regulators. Staking involves participants locking up digital assets to support network security and operations, earning rewards in return. Its introduction into the ETFs would explore the income-generating potential […]
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Among ETFs, Grayscale’s GBTC remains the biggest holder of bitcoin with over $20 billion worth of the asset, followed closely by BlackRock’s IBIT at $19.6 billion.
The long-awaited approval of a spot exchange-traded fund (ETF) for Ethereum in the US seems imminent, and industry insiders are already looking ahead. Solana, a high-speed blockchain network, is emerging as a potential frontrunner for the next cryptocurrency ETF. Related Reading: US House Delivers Surprise Knockout: Sweeping FIT21 Crypto Bill Passes Brian Kelly, founder and […]
On-chain analytics firm CryptoQuant warned that ETH prices could fluctuate if pending spot Ethereum ETFs encounter uncertainties. It warned that ETH could undergo a “significant price correction” if the SEC denies ETH ETF applications or delays the approval process. Furthermore, high exchange flows could produce ETH price volatility in the coming days. Amid rumors of […]
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Ether {{ETH}} is expected to experience a period of volatility this week after exchange inflows spiked to its highest level since March, according to a report by data provider CryptoQuant.
WisdomTree has received approval from the Financial Conduct Authority to list its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange. This approval allows WisdomTree to introduce the WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum ETPs, targeting the May 28 lifting of UK restrictions. These ETPs, available exclusively to professional investors, have a management […]
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Bitcoin spot ETFs in the U.S. have seen net inflows of over $1.4 billion in the past week after a timid first half of the month.
Standard Chartered reaffirmed its projection that Ethereum (ETH) will reach $8,000 by the end of the year, following heightened anticipation of ETF approvals. StanChart’s head of crypto research, Geoffrey Kendrick, said in a note shared with CryptoSlate that recent developments reflect heightened investor optimism and increased market activity. Kendrick’s statement comes after Bloomberg analyst Eric […]
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Some traders expect ether prices to reach as high as $4,000 in the coming days, with odds of an ether ETF approval raised to 75%.
Bitcoin (BTC) surged past the $70,000 mark on May 21, marking a significant milestone driven by a flood of investment into spot Bitcoin exchange-traded funds (ETFs) and a broader market rally. Bitcoin’s price climbed to $70,325, a 6% increase over 24 hours, before settling at $68,700 as of press time, based on CryptoSlate data. Ethereum […]
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Grayscale Investments, the world’s largest crypto asset manager, announced the appointment of Peter Mintzberg as its new Chief Executive Officer, effective August 15, 2024. Mintzberg will succeed Michael Sonnenshein, who stepped down from the position after a decade with the firm to pursue other interests. During his tenure as CEO, Sonnenshein guided Grayscale from $60 […]
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ETH price hit $3,100, backed by a favorable court ruling and increased network activity.
Millennium Management is the largest Bitcoin ETF investor with a $1.9 billion investment.
Ethereum (ETH), the second-largest crypto by market capitalization, has recently shown signs that suggest a potential rebound is on the horizon. Analysts have been closely monitoring various technical indicators, and one such analyst, Ali, has highlighted a key signal that points to an impending price surge. Related Reading: Ethereum Price Anticipates Upside Break To Shift Sentiment Towards Bullish TD Sequential Signals Buy As Ethereum Eyes Recovery According to Ali’s social media platform X analysis, the TD Sequential indicator on Ethereum’s daily chart has issued a strong buy signal, hinting at a possible upward movement lasting one to four candlesticks. The TD Sequential presents a buy signal on the #Ethereum daily chart! It anticipates that $ETH could see a rebound of one to four candlesticks. pic.twitter.com/Vg7FTl9X2a — Ali (@ali_charts) May 15, 2024 This positive outlook is supported by Ethereum’s recent performance, which increased the asset by 2.3% over the last 24 hours. However, Ethereum remains below the critical $3,000 mark. Despite the optimistic technical signals, external factors such as regulatory challenges could influence Ethereum’s trajectory. Specifically, the potential decline of the spot Ethereum ETF application with the US Securities and Exchange Commission (SEC) is a concern, as analysts like Eric Balchunas of Bloomberg suggest that the SEC’s view of ETH as a security could significantly lower the chances of ETF approval. TLDR: the SEC asked commenters re the Eth spot ETFs whether these filers have properly filed their ETF listing proposals as commodities. This shows the SEC is perhaps considering to Eth is a security in their denial. Our odds of approval remain the same: slim to none. Nice job of… https://t.co/g9HGPzGyOp — Eric Balchunas (@EricBalchunas) May 14, 2024 Market Sentiments And Options Trading Trends While the regulatory landscape presents challenges, market sentiment around Ethereum remains largely bullish. The options market, in particular, shows a clear preference for calls over puts, indicating that traders are betting on Ethereum’s price increase. Data from Deribit, a leading crypto options exchange, reveals that the most popular strike price among these bullish bets is an ambitious $6,500. This concentration of call options, especially those above the $3,600 mark, suggests that a significant portion of the market expects Ethereum to reach higher levels by the end of June. In contrast, According to a recent NBTC analysis, Ethereum’s failure to breach the $2,925 resistance level could trigger another price decline. Initial support is located near the $2,880 level, followed by major support at the $2,860 zone. Related Reading: Bitcoin, Ethereum, And Solana: Galaxy Digital CEO Predicts Next Market Movements Should Ethereum break below $2,810, it could potentially fall towards the $2,740 mark, and further losses might push the price down to $2,650 in the near term. Featured image from Unsplash, Chart from TradingView
The State of Wisconsin Investment Board (SWIB) and others reported investments in spot Bitcoin ETFs. In a May 14 filing, SWIB disclosed 2.5 million shares of BlackRock’s IBIT worth $99.1 million and 1.0 million shares of Grayscale’s GBTC worth $63.7 million. The investment makes SWIB the second-largest holder of IBIT after Bracebridge Capital. SWIB is […]
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New Hampshire State Representative Keith Ammon discussed the potential benefits of the state diversifying its financial reserves into Bitcoin exchange-traded funds (ETFs) in a May 12 social media post. The SEC approved trading spot Bitcoin ETFs on US exchanges in January. Since then, the products have generated huge interest, with major financial institutions like JPMorgan […]
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Hightower Advisors disclosed a $68 million investment in spot Bitcoin ETFs in a May 6 filing. The 13F filing indicates that the firm holds 709,956 shares of Grayscale’s GBTC worth $44.8 million, 200,084 shares of FBTC worth $12.4 million, 188,397 shares of BlackRock’s IBIT worth $7.6 million, and 23,964 shares of Ark Invest’s ARKB worth […]
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Fidelity's FBTC, not GBTC, led outflows on Wednesday in what may be an alarming development for the bulls.
Bitcoin price revisits recent lows as the BTC futures premium falls to a 5-month low. Is the bull market over?
American multinational investment bank and financial services company, Morgan Stanley has revealed intentions to add Spot Bitcoin Exchange Traded Funds (ETFs) into a selection of its institutionally focused funds. This strategic move potentially reflects Morgan Stanley’s intent to expand into the digital asset space while also capitalizing on the growing interest in digital assets. Morgan […]
Hong Kong’s debut of Bitcoin and Ethereum exchange-traded funds (ETFs) commenced with modest trading volumes, tallying up to 87.58 million HKD, equivalent to $11.19 million, based on Hong Kong Stock Exchange data. This trading volume falls significantly short of the issuers’ initial expectations, which anticipated volumes surpassing $100 million. Moreover, the trading volume pales compared […]
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Inflows into the Newborn Nine ETFs fell by more than 50% during the past week to $126 million from $254 million, according to CoinShares weekly report. Per the report, these reduced inflows contributed to the third consecutive week’s outflow of $435 million—the largest outflow since March—that major crypto-related investment products recorded during the week. Grayscale […]
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Australia is poised to join the global trend of countries, including the US and Hong Kong, allowing their citizens to invest in Bitcoin exchange-traded funds (ETFs). ASX to approve Bitcoin ETFs Earlier today, Bloomberg reported that the Australian Securities Exchange (ASX) could approve its inaugural batch of spot Bitcoin ETF before the end of the […]
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Bitcoin price holds above $63,000 even as regulatory enforcement ramps up and spot BTC ETF outflows raise concern.
BTC Stable Above $64K While ETF Outflows Hit $200 Million
Liquidation levels form an increasingly large cloud above BTC spot price as Bitcoin rests near $64,000.
The tides are shifting in the Bitcoin sea. A recent analysis by CryptoQuant, a blockchain analytics firm, paints a picture of a changing investor landscape, with a new breed of “whales” – high-volume crypto holders – entering the fray and established players holding their ground. Related Reading: Halving Hype Debunked: Binance Founder Says Don’t Fall […]
Grayscale Investments and BlackRock have updated their spot Ethereum ETF applications despite the SEC delaying its decision on the matter in recent weeks and expectations leaning toward rejection. Grayscale filed an S-3 registration statement with the SEC on April 23. The submission marks the latest step toward the firm’s proposed conversion of its existing Grayscale Ethereum […]
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