Tag: ETF

Bitcoin surges to $71k as analysts cite increased spot ETF inflows

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Analyst expects renewed market confidence as Bitcoin surges to $71,000 Bitcoin’s price surged to $71,000 on Tuesday amid increased spot buying and spot BTC exchange-traded fund (ETF) purchases, prompting the cryptocurrency community to debate whether this signals the start of a bull market or its peak. At the time of writing, the world’s largest cryptocurrency exchanged hands at $70,950, with a massive 24-hour trading volume of $52.4 billion. The crypto asset’s market cap currently stands at $1.39 trillion. BTC 24-hour price chart | Source: CoinMarketCap Matteo Greco, research analyst at Fineqia…

Galaxy Digital’s Thorn says SEC could label staked ETH as security in ETF plans

Galaxy Digital’s Alex Thorn suggests that the SEC might classify staked Ethereum as a security in a bid to find a loop to approve spot Ethereum ETF. The U.S. Securities and Exchange Commission (SEC) might make an eyebrow-raising turn regarding the approval of spot Ethereum exchange-traded funds (ETFs), according to Galaxy Digital head of research Alex Thorn. if the speculation about a 180 from SEC on the ethereum ETFs is true, i would guess they try to thread a needle between “ETH” NOT being a security and “staked ETH” (or…

Ether (ETH) ETF Hopes Drive Futures Open Interest to Record $14B

Late Monday, Bloomberg’s ETF analysts increased the probability of the U.S. Securities and Exchange Commission (SEC) green lighting the spot ETH ETFs to 75% from 25%. Meanwhile, CoinDesk reported that the SEC had asked exchanges looking to list and trade potential spot ether ETFs to update 19b-4 filings on an accelerated basis, a sign of the regulator attempting to fast-track the process. Source

Bitcoin (BTC) Surges Over $71K as Ether (ETH) ETF Hopes Lead to $260M in Short Liquidations

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Ethereum Soars 20%: ETH Hype Escalates on ETF Rumors

Ethereum price rallied over 20% amid rise in hopes of ETH ETF. ETH broke many hurdles and even broke the $3,500 resistance zone. Ethereum started a fresh surge and cleared the $3,500 resistance zone. The price is trading above $3,600 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $3,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up unless there is a close below the $3,400 support. Ethereum Price Starts Fresh Uptrend Ethereum price…

Bitcoin ETF Inflows Soar To Highest Level In Months As BTC Price Surges Past $68,000

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After enduring a significant 20% price correction earlier this month that saw Bitcoin fall below $56,400 and increased outflows from the Bitcoin ETF market, the world’s largest cryptocurrency has managed to stage a strong comeback. It has broken above the key $66,000 resistance level and turned it into a new support zone. BTC Bounces Back As Bitcoin ETF Inflows Soar  The resurgence in Bitcoin’s price has been closely tied to a rekindling of inflows into the US spot Bitcoin ETF market. Data from Farside shows that spot Bitcoin ETFs saw…

Ether Price (ETH) and Bitcoin Price (BTC) Gain on Hope for ETF Approval

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Bitcoin (BTC) is adding to gains alongside ETH’s advance, now higher by more than 5% and just shy of the $70,000 mark. Also on the move is the Grayscale Ethereum Trust (ETHE), a closed-end fund that Grayscale has proposed converting into a spot ETF. It’s recently been trading at more than a 20% discount to net asset value as investors bet against SEC approval, but is now higher by more than 23% on Monday. Original

Grayscale CEO Michael Sonnenshein resigns as spot BTC ETF inflows rebound

Grayscale Investments CEO Michael Sonnenshein has resigned from the asset manager amid mass investor departures from the firm’s GBTC ETF.  On May 20, the Wall Street Journal reported that Peter Mintzberg will replace Sonnenshein as the company’s head in August. Mintzberg is a financial veteran with decades of experience as Goldman Sachs’s global head of strategy for the bank’s asset management operations.  Grayscale did not immediately respond to commentary requests from crypto.news.  The development comes on the heels of a possible trend reversal for Grayscale’s converted GBTC fund, which saw…