Prices Rebound after CPI and Grayscale Files for Three New Investment Funds

Market Update Crypto prices rebounded today after a cooler-than-expected CPI print of 4.9% (vs. an expected 5.0%). The index for shelter was the largest contributor to the CPI increase, followed by increases in the index for used cars and trucks and the index for gasoline. At the time of writing, $BTC is up 2.03%, and $ETH is up 1.71%. After declining for the past few weeks and erasing much of their 2023 gains, some altcoins have seen some mean reversion today. $ARB is up 7.91%, $INJ is up 6.14%, and $OP is up 3.10%. Traditional markets rose after today's CPI print - SPX is up 0.30%, and NDQ is up 0.93%. The U.S. dollar (DXY) is down 0.14% on the day.Grayscale announced that it formed a new entity called Grayscale Funds Trust. This is a Delaware statutory trust structure that will allow the firm to manage its older products while pursuing ETFs. It has filed for three new crypto investment funds, including the Grayscale Ethereum Futures ETF, Grayscale Privacy ETF, and Grayscale Global Bitcoin Composite ETF. The Ethereum Futures ETF will be based on Ethereum futures contracts, the Privacy ETF will track the Indxx Privacy Index (which includes Grayscale's Zcash Trust), and the Global Bitcoin Composite ETF will invest in exchange-traded products as well as securities from Bitcoin