This category covers crypto market news today, including crypto index trends, major exchange data, capital flows, sentiment shifts, regulation impact and crypto’s interaction with traditional finance. Designed to help you understand the forces driving valuation across tokens, sectors and regions.
The report comes amid rising investor demand for regulated exposure to Ether (ETH), the world’s second-largest cryptocurrency by market capitalization.
Although the intakes are currently happening at a much slower rate than before, these ETFs have still impressed so far.
A filing does not guarantee that the SEC would approve such a product that is tied to Solana, despite SOL being the fifth largest digital asset by market capitalization.
According to the announcement, State Street Bank and Trust will manage the day-to-day operations and administration of the new ETFs.
The effect of spot ETH ETFs on the price of Ether would be relatively smaller as compared to the approval of spot Bitcoin ETFs on BTC.
Gary Gensler, SEC Chair, talked about the approval of spot Ethereum (ETH) exchange-traded funds (ETFs) on Tuesday, June 25, stating that the approval process is “going smoothly” while being hesitant to reveal a timeline for the approval.
Nvidia, an American multinational, saw its stock plummeting, losing over $500 billion in just three days.
Arthur Hayes said that Japanese banks engaged in USTs will start selling the bonds, resulting in “another pillar of the crypto bull market.”
With the Federal Reserve keeping interest rates unchanged to 5.25%, the massive outflows recorded by the US spot Bitcoin ETFs bring the total assets under management (AUM) to under $15 billion.
The bearish sentiment wasn’t limited to the US. Even on the global scale, digital asset investment products saw their largest outflow of over $600 million in almost three months.
Collectively, the 14 US mining companies have a network hash rate of approximately 23.8% of the total market share.
Bitfarms plans to leverage its farm design expertise and operational excellence to make the new facility one of its best locations, well-optimized for growth.
Fidelity’s FBTC, the once-hot ETF, bore the brunt of the selling pressure, seeing its second-largest net outflow day ever with $106 million leaving the fund.
On Tuesday, several crypto mining stocks like CleanSpark, TerraWulf, Hut 8 Mining and other rallied by 8-10% following support from former president Donald Trump.
Even with positive inflation data, the Federal Open Market Committee (FOMC) decided to keep the federal funds rate target range at 5.25% to 5.50% during their June meeting.