Lower-than-expected April CPI data (0.3%) boosts markets on hope of Fed rate cuts and increased liquidity.
The influx of funds into the newly launched ETFs shows institutional trust; hence, this could also be the beginning of more large capital flows into the BTC ecosystem.
The new Vanguard CEO said that it is important for the firm to stay consistent with their stand on Bitcoin products. He said that they no plans of coming up with an ETF in the near future.
Interactive Brokers, one of the leading global electronic brokers based in the United States, is expanding its presence in the crypto industry with the rollout of digital asset trading services to British customers through its UK unit.
Although the appointment will not take effect until July 8, it remains to be seen whether Ramji will be able to change Vanguard’s stance on digital assets during his tenure.
The SEC’s approval of spot Ethereum ETF hinges majorly on how the regulators perceives ETH: as a security or a commodity.
The shares of the company registered notable growth in the last year. MSTR value quadrupled, surmounting Bitcoin’s 130% surge.
With spot Bitcoin ETF purchases slowing down considerably, and even dipping into negative territory on some days, macroeconomic catalysts have gained increased significance recently.
Monday’s outflows immediately marked an over 420% increase from Friday’s outflow of 99.99 BTC.
The GameStop rally triggered a massive surge in the meme coin market with DOGE and SHIB gaining 10%, and other meme coins jumping by 34%.
The United States recorded the highest crypto investment inflows, totaling $135 million.
NVIDIA’s robust financial outlook further fueled optimism, with the company forecasting first-quarter revenue of $24 billion, surpassing analysts’ estimates of $22.2 billion.
In a similar manner to the Hong Kong spot Bitcoin ETFs, their US counterparts also experienced a net outflow of $11.29 million on Thursday.
GBTC’s high management fees at 1.5% continue to hurt Grayscale as revenue of the firm remained flat in Q1 amid high redemptions from Bitcoin ETF.
The JPMorgan analysts believe the US SEC will establish a middle ground between security and commodity for Ethereum, thus leading to imminent approval of spot ETFs.