news

ETH ETF in final stages of discussions, short-term spike expected before potential approval date between July 2-4

The U.S. Securities and Exchange Commission (SEC) could approve an Ethereum spot ETF as early as July 4 (local time). The process is in the final stages of discussions among asset managers, regulators, industry executives and other participants. "We are in the final stages of finalizing the ETF approval," said a lawyer for a particular issuer who asked not to be identified. It appears to be just a week or two away," said a lawyer for a particular issuer who asked not to be identified. SEC Commissioner Gary Gensler has previously stated that the approval process for an Ethereum spot ETF would be finalized over the summer, and most recently noted that the ETH ETF approval process is on track.

Meanwhile, crypto asset manager Blofin has predicted in a report that an Ethereum spot ETF could lead to a short-term surge in ETH price. "With the impending decision on whether to launch an Ethereum spot ETF in the US, investor attention is shifting from Bitcoin to Ethereum. "Bitcoin's relative strength has been in place for months, and we expect a short-term surge in ETH price. Investors are now predicting that the launch of an Ethereum spot ETF will boost the price of Ethereum."

Amidst this, a former anonymous whale sold 6,001.7 ETH at $3384, realizing a profit of $1.64 million (8.8%). The volume was reportedly bought on May 17-18 at $3110.

“Zhao Changpeng's release from prison could boost BNB and 5 other altcoins”

With former Binance CEO Changpeng Zhao set to be released from prison on September 29th (local time), BeInCrypto reports that five altcoins are likely to see an uptick in value. BNB is one of the most prominent coins expected to see price movement following Zhao's release from prison.

blockchain crypto cryptocurrency French Hill blame Gary Gensler (SpotedCrypto)

French Hill : “SEC's approach to regulating crypto firms will only confuse markets”

During a hearing on the Securities and Exchange Commission (SEC) held by the U.S. House of Representatives' Financial Services Committee on March 18 (local time), Congressman French Hill criticized SEC Chairman Gary Gensler's approach to regulating cryptocurrency companies, saying that it is causing confusion and uncertainty

blockchain crypto cryptocurrency us fed ratecut 50bp (SpotedCrypto)

US Fed 'big cuts' interest rates by 0.5 percentage point to bring inflation closer to target, considers another 50 basis point cut later in the year.

The US Federal Reserve's (Fed) Federal Open Market Committee (FOMC) announced in an official statement that it will cut its benchmark interest rate by 0.5%. This is the first rate cut in nearly four years. The Fed raised rates from March 2022 through July of last year.

Read next