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02 Jun 2024 16:54

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02 Jun 2024 08:49

🪙 JPMorgan Predicts 'Negative' Initial Reaction for Ethereum ETFs — Expects Lower Demand Than Bitcoin ETFs

JPMorgan has predicted an initial negative market reaction for spot ethereum exchange-traded funds (ETFs), expecting lower demand compared to bitcoin ETFs. The global investment bank also cautions that approximately $1 billion may exit the Grayscale Ethereum Trust, putting downward pressure on ether prices shortly after the launch of spot ethereum ETFs.

Source

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01 Jun 2024 08:44

🪙 21Shares drops Ark from ETH ETF as remaining applicants meet SEC deadline

Six companies updated their spot Ethereum ETF S-1 registration statements on May 31, with 21 Shares notably dropping Ark Invest from its filing. The relevant filing renames the “Ark 21Shares Ethereum ETF” to the “21Shares Core Ethereum ETF.” It also removes all mention of Ark Invest from its text, whereas previous submissions described Ark Invest as the fund’s subadvisor. Ark Invest has not commented on the change.

Source

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31 May 2024 08:39

🇺🇸 SEC told spot Ethereum ETF issuers to get first round of draft S-1 forms in by Friday: sources

The march to get the spot Ethereum ETFs approved for trading is well underway, with all eyes on the S-1 forms. After the 19b-4 forms were approved on May 23, the only remaining step is for the S-1 forms to become effective before trading can begin. However, since the approvals resulted from a last-minute change in direction from the SEC, the S-1 forms were not prepared in advance. Yet progress is now being made.

Source

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30 May 2024 09:01

📣 Mastercard launches P2P crypto network, vanity address system

Mastercard is launching a peer-to-peer platform for cryptocurrency users in Europe and Latin America. The Mastercard Crypto Credential network, which is in pilot mode, supports transactions on Bit2Me, Lirium and Mercado Bitcoin exchanges, enabling cross-border payments across the Atlantic, Mastercard said Wednesday in a statement. The P2P platform’s rollout forms part of the payments company's push to leverage digital assets for cross-border payments, a growing payments services sector.

Source

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28 May 2024 18:57

🪙 Ethereum Name Service proposes migration to Layer 2

ENS Labs has proposed ENSv2, a comprehensive upgrade to the Ethereum Name Service that involves migrating the service to a Layer 2 network. ENSv2 aims to enhance scalability and decrease gas fees by transferring core functionalities from the Ethereum mainnet to a Layer 2 chain, according to ENS Labs. If the proposal is accepted, users will benefit from reduced transaction fees.

Source

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27 May 2024 18:42

🔵 Ethereum outperforms market surging to $3900 after ETF approval, Pectra upgrade in sight

Ethereum’s price has climbed to a two-month high of more than $3900 less than a week after the US Securities and Exchange Commission (SEC) approved 19b-4 filings for eight spot exchange-traded funds (ETF)-related to the digital asset. This caps a week of positive performance for Ethereum, significantly outpacing the top 10 cryptocurrencies by market capitalization. During the reporting period, ETH’s value increased by approximately 27%, while Bitcoin saw a modest gain of 2%.

Source

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26 May 2024 06:20

🪙 Spot ETH ETFs could see 25% of the demand of BTC counterpart – Bloomberg analysts

Bloomberg ETF analyst James Seyffart believes that spot Ethereum ETFs could see 20% to 25% of the demand experienced by spot Bitcoin ETFs. Seyffart expressed his stance in an interview hosted by Bitwise, adding that his fellow Bloomberg ETF analyst, Eric Balchunas, believes the new funds will see 15% to 20% of the demand. Seyffart compared both estimates to the fact that ETH has approximately 30% of Bitcoin’s $1.4 trillion market cap, calling his estimate a “discount” in that regard.

Source

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24 May 2024 07:34

🇺🇸 SEC approves 🪙 Ethereum ETFs, aligning ETH closer to commodity in industry win

The US Securities and Exchange Commission (SEC) has approved the first spot Ethereum exchange-traded funds (ETFs), marking a significant milestone for the crypto industry. The decision, announced today, allows asset managers such as Grayscale, Fidelity, and Bitwise to launch ETFs that directly track the price of Ethereum (ETH). Ethereum rose 2% on the news and was trading at $3,900 as of press time, based on CryptoSlate data.

Source

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23 May 2024 07:34

💰 CNBC discusses the possibility of a spot Solana ETF being approved after Ethereum.

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22 May 2024 08:49

🪙 Grayscale Ethereum Trust discount narrows to 10% as odds of spot ETH ETF approvals are raised

The Grayscale Ethereum Trust (ETHE) discount has narrowed to its lowest level in more than two months as investors anticipate spot ether ETF approvals in the U.S. The narrowing comes as investors expect regulators to approve spot ether ETF approvals in the U.S., where the Securities Exchange Commission requested firms looking to launch such funds update and refile documents needed for their approval.

Source

@TradeCryptoNow

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20 May 2024 19:13

💰 Research Firm Favors Bitcoin 'Covered Strangle' Strategy to Enhance Portfolio Yield by 17%

Bitcoin (BTC) investors looking to generate extra income in addition to their spot market holdings should consider setting a "covered strangle" options strategy, research firm 10X, which has an impeccable record of predicting market trends, said Monday. The premium received for selling/shorting the call option, or protecting the counterparty from price rallies, and selling the put or insurance against downtrends, represents the extra yield.

Source

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19 May 2024 16:42

🇭🇰 Hong Kong Police Arrest Crypto Exchange Shop Employees on Suspicion of Fraud

Hong Kong police have taken into custody three employees of a currency exchange shop who are suspected of engaging in fraudulent activities. On Wednesday, Hong Kong’s technology crime division apprehended three individuals aged between 31 and 34. The authorities seized 3,000 hell banknotes, a safe, and a note-counting machine from a store in Tsim Sha Tsui. Hell banknotes, used in traditional Chinese rituals as offerings to ancestors or deities, were among the confiscated items.

Source

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18 May 2024 05:50

💰 Spot bitcoin ETF inflows in May have made up for April outflows: analyst

Inflows from spot bitcoin exchange-traded funds (ETFs) in May have made up for last month's outflows, according to an ETF analyst. "The bitcoin ETFs have put together a solid two weeks with $1.3 billion in inflows, which offsets the entirety of the negative flows in April — putting them back around high water mark of +$12.3 billion net since launch," wrote Bloomberg's senior ETF analyst Eric Balchunas on the social media platform X.

Source

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16 May 2024 18:06

💰 Bitcoin options traders anticipate short-term price correction, analysts say

Despite yesterday's softer U.S. CPI inflation report, investors are still ready to pay a premium for short-term downside protection, according to CF Benchmarks' analysis of Chicago Mercantile Exchange (CME) options on bitcoin futures. The CF Benchmark analysts said that although bitcoin saw a breakout above the $66,000 mark after yesterday's softer inflation print, there is still "higher implied volatility for OTM puts compared to calls."

Source

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02 Jun 2024 16:54

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01 Jun 2024 19:44

⚪️ Worldcoin Officially Launches in Colombia

Worldcoin, the iris-scanning biometric proof-of-personhood project, announced on Thursday the launch of its operations in Colombia. Via social media, the project reported that eye-scanning operations were already available in Bogota and Medellin, for World ID users. Currently, only ten locations with orbs (iris scanning machines) are available, six in Bogota and four in Medellin.

Source

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31 May 2024 17:54

💰 Ark Invest’s spot bitcoin ETF logs record $100 million in daily net outflows

Spot bitcoin exchange-traded funds in the U.S. logged their 13th consecutive day of net inflows on Thursday, drawing in $48.71 million. Major movements of funds were spotted in two bitcoin funds from Fidelity and from Ark Invest and 21Shares yesterday. Fidelity’s FBTC led net inflows worth $119 million, while Ark’s ARKB saw nearly $100 million in net outflows, according to data from SoSoValue. ARKB’s Thursday outflow marked its largest since its debut in January.

Source

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30 May 2024 19:34

🇪🇺 EU elections could hint at future direction for crypto regulations, Bitfinex analyst says

The European Union Parliamentary Elections, taking place next week, could provide further clues on how crypto will be regulated in that market, according to Bitfinex Head of Derivatives Jag Kooner. "A right-wing shift could lead to stricter crypto controls, while a pro-crypto outcome might accelerate supportive regulations like MiCA," Kooner told The Block.

Source

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29 May 2024 18:12

💰 Blackrock’s IBIT Nears Grayscale’s GBTC in Bitcoin Reserves

According to the latest statistics, U.S. spot bitcoin exchange-traded funds (ETFs) experienced ten consecutive days of positive inflows. Notably, during a third of those days, Grayscale’s Bitcoin Trust (GBTC) faced outflows and neutral activity. Conversely, Blackrock’s IBIT saw inflows on most of the ten trading days. During the past ten trading days, spot bitcoin ETFs accumulated over a billion U.S. dollars in net inflows, with each day showing a positive influx.

Source

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28 May 2024 07:40

🇺🇸 Crypto wallet linked to Donald Trump hits $10 million in value: Arkham

A crypto wallet linked to former President and leading Republican presidential candidate Donald Trump holds around $10 million worth of assets. The wallet holds $7.12 million worth of MAGA tokens, known by its ticker, according to blockchain data tracker Arkham Intelligence. The MAGA tokens were originally puchased with wrapped ether on Uniswap, Arkham noted. The wallet also holds 463.441 ETH ($1.84 million) and 1 million tokens of MAGA VP (MVP) valued at around $509,000.

Source

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27 May 2024 07:41

📊 Hedge Funds Adopt Net Short Positions on BTC and ETH Futures, Kaiko Analysis Reveals

The report suggests that the net short status represents a broader sentiment among hedge funds, which might be driven by various hedging strategies rather than outright pessimism about the cryptocurrencies’ future values. Kaiko’s study highlights this trend as the derivatives market, particularly perpetual futures, continues to be a significant arena for high-risk speculation and price discovery in the crypto sector.

Source

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25 May 2024 09:41

🇺🇸 Former SEC chairman Clayton sees Ethereum ETF trading 'inevitable' but questions remain: CNBC

Former U.S. Securities and Exchange Commission Chairman Jay Clayton broke down the SEC's decision regarding spot Ethereum exchange-traded funds (ETFs) and what the next steps are. Clayton noted that the approved listings bode favorably for the product, adding that he thinks their trading will be "inevitable." But there are still thorny questions surrounding the product. The former SEC chairman first noted that Ethereum ETF approval comes in two steps.

Source

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23 May 2024 17:59

🇭🇰 Gate.io affiliate withdraws license application in Hong Kong, winds down local services

Gate.HK, crypto exchange Gate.io’s Hong Kong entity, is winding down operations and has withdrawn its crypto trading platform license application in the region. The company said in a statement on Wednesday that it will carry out a “major overhaul” of its current platform and urged users to withdraw their assets by August 28. Gate.HK said that it will stop new user registration and deposit immediately, and plans to delist all tokens — including bitcoin, ether, bitcoin cash, litecoin, solana, polkadot, polygon, uniswap and USDT — on May 28.

Source

@TradeCryptoNow

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22 May 2024 19:14

🪙 StanChart reaffirms Ethereum’s potential to hit $8000 following ETF approval

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.

Source

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21 May 2024 08:46

💰 Bitcoin's futures basis increases after last week's softer US inflation print

Recent underlying buying activity in the bitcoin market is pushing prices up, with traders willing to pay a premium for buying bitcoin in the future, suggesting they expect the price to rise, analysts say. The Zerocap report's observations align with those from Velo Data charts, which show that since last Wednesday's release of softer U.S. Consumer Price Index (CPI) data for April, bitcoin’s basis rate has increased, now sitting in the 9-12% range.

Source

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20 May 2024 10:58

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18 May 2024 19:07

📣 Court Approves Crypto Lender Genesis' $3 Billion Payout to Customers

Crypto lender Genesis Global obtained court approval Friday to return approximately $3 billion to its customers as part of its bankruptcy liquidation. U.S. Bankruptcy Judge Sean Lane approved Genesis’ Chapter 11 plan, overruling an objection from its equity owner, Digital Currency Group (DCG), which argued that repayments should be based on January 2023 cryptocurrency values.

Source

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17 May 2024 08:21

🪙 Crypto markets rally, but Ethereum struggles to keep pace with Bitcoin

On May 15, the cryptocurrency markets saw a 5.5% increase in total capitalization following the release of inflation and retail sales data from the United States. However, Ether failed to fully capitalize on this bullish momentum. Ether last closed above $3,000 over five days ago and has underperformed the leading cryptocurrency, Bitcoin, by 22% since the start of 2024.

Source

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16 May 2024 07:05

💰 Incoming Vanguard CEO Won't Reverse Decision Not to Launch Bitcoin ETF

Salim Ramji, set to take the reins at Vanguard from outgoing CEO Tim Buckley on July 8, quickly poured cold water on the idea that he has intentions for the asset management giant to offer its own spot bitcoin ETF. "I think it’s important for firms to have consistency in terms of what they stand for and the products and services they offer," Salim Ramji told Barron's.

Source

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