Potential ETH Futures Approval, Gensler Grilled in Congress

Equities and crypto are finally seeing some relief, with the Nasdaq and S&P bouncing ~1% while BTC has gained 3.4% to trade at $27.1k. Investors continue to look for signs of a soft landing, with a fresh release of 2Q GDP matching consensus estimates of 2.1% annualized growth. Meanwhile, pending home sales fell 7.1% in August, massively overshooting 1% estimates from Bloomberg. The slowdown was widespread, with every region in the U.S seeing MoM drops. This could perhaps add ammo to the bull case of slowing inflation, which has a sizable component coming from housing data. ETH is slightly outperforming (+3.8%) BTC, with positive developments on the prospects of ETH based futures ETFs (more below). LDO has been the top performer among the top 50 by MC. Lido tends to trade with a high beta to ETH as fees and earnings of the protocol trail the price of ETH.