Despite the bullish predictions for the two top digital assets, it is meme coins that are witnessing a surge in market performance today.
The high sponsor fee for Grayscale’s GBTC has pushed investors away to other more liquid and favorable similar Bitcoin products such as IBIT, and FBTC.
The exploit comes seven days after Gala Games, one of the prominent players in the industry, suffered a malicious security attack that led to the loss of $23 million of users’ assets.
Many crypto enthusiasts expected that trading of the spot Ethereum ETF should follow its launch immediately, as it was with Bitcoin ETFs.
All of the spot Bitcoin ETFs globally collectively hold 1,002,343 BTC, or 5.08% of the current circulating supply of coins, which is 19,704,484.
Bitcoin whales have remained largely inactive in the recent past compared to the top altcoins such as Ethereum, and Ripple-backed XRP.
The collaboration will see Nomura try to launch stablecoins for the yen and the dollar to users in the Japanese market.
The recent approval of spot Ethereum (ETH) ETF has triggered an intensified crypto cash rotation from Bitcoin to the altcoin industry.
Soon after the 19b-4 approval by the US SEC, VanEck Investments swung into action by releasing a 37-second advertisement swaying viewers to “Enter the ether”.
A total of $13.43 billion has flowed into spot BTC ETFs since the approval of the digital assets in January, but the current capital flowing into the investment products remains significantly low compared to their peaks in March.
Despite the SEC’s engagement with issuers, industry experts warn that the process isn’t finished yet. “Basically, it’s just starting,” said a high-ranking member at an ETF issuer, referring to the S-1 discussions.
Solana’s potential ETF approval could skyrocket its market presence, leveraging its high-speed, low-cost transactions for mainstream adoption.
While the Democrats joined the Republicans to approve the FIT21 bipartisan crypto bill, the White House has opposed it calling it a mixed opportunity.
Bitcoin ETFs in Hong Kong have also shown strong performance.
While many may count the Florida programmer’s Bitcoin transaction as a huge loss, Hanyecz feels very proud, stating that he contributed to Bitcoin history.