Leveraged BTC ETF Launches on CBOE, Prime Trust Placed in Receivership
Bitcoin continues to hover above $30k, gaining 2% over the last day. ETH has bucked its trend of underperforming BTC, with ETHBTC up 0.72% today, although its medium-term downtrend remains intact. The crypto market turned higher after news broke that Fidelity had potentially joined other large asset management companies in filing for a spot BTC ETF. While Fidelity previously filed for a similar ETF in 2021, the SEC rejected that effort last year. BCH 0.19% and PEPE continue to outperform among the top 100 over the last week, with BCH 0.19% benefiting from its listing on the institutionally backed EDX Market Exchange. PEPE has not had any specific catalyst behind its 70% move in the last week. After dropping over 80% from its peak, it has caught a bid as the market’s favorite meme coin of this cycle. Older meme coins DOGE and SHIB have largely underperformed BTC and the rest of this market in this rebound. The S&P and Nasdaq rose 1.1% and 1.6%, with continued momentum from tech and AI-related equities.
