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.
Bitcoin’s recent price drop to 3.34% triggers major outflows from leading Bitcoin ETFs, with Grayscale’s GBTC fund losing $90 million.
The upcoming listing of spot Ethereum ETFs in the United States has spurred speculation on similar bullish sentiment to Bitcoin’s earlier this year.
The Korea Institute of Finance (KIF) report stated that allowing crypto ETFs could cause resource allocation inefficiency, increased crypto-related risks, and weakened financial stability.
Bitcoin (BTC) price has signaled further market correction as investors show midterm disinterest in the crypto space.
With Ethereum exchange-traded funds (ETFs) expected to hit the market this year, Bitwise, a leading crypto asset manager, has begun advertising these upcoming investment products in anticipation of their official debut.
Bitwise Invest CEO hinted a major announcement likely about its spot Ether ETF which could launch before July 4th.
Andrew Campion, GM of Investment Products and Strategy at ASX, said trading Bitcoin via an ETF on ASX allows Australians to use traditional brokerage accounts, simplifying the investment process for Australians.
After four consecutive days of outflows, Tuesday, June 18th marked a new low point.
HashKey Global, a cryptocurrency exchange launched by Hong Kong’s HashKey Group for international customers, has entered the futures market with the launch of Bitcoin (BTC) and Ethereum (ETH) perpetual contracts.
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.
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.
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.
The financial secretary also discussed Hong Kong’s effort in developing Web3 and the cryptocurrency market.