ETH Relative Strength Continues, US-Regulated Margined Crypto Trading Coming to Cboe

Market Update The crypto market is currently consolidating, following last week's rally buoyed by positive developments like BlackRock's application for a spot ETH ETF. Bitcoin is hovering around $36.8k, while Ethereum aims to break above the $2100 mark. Amidst this sideways price action in the majors, select altcoins such as $TIA, Celestia's data availability layer token, and $FIL, Filecoin's native token, continue to exhibit strength. The potential SEC approval of 19b-4 applications for BTC spot ETFs, as discussed in last week's strategy note, could bring an additional wave of liquidity this week. Notably, the GBTC discount to NAV has fallen to 10%, the lowest since mid-2021, while the ETHE discount has narrowed to 14% from over 30% in late September, the latter influenced by BlackRock's application on Thursday. An eventful week is expected with major macro data releases on the horizon: CPI data tomorrow, PPI and retail sales on Wednesday, and building permits on Friday. In anticipation of these releases, there's a downward trend in rates and the dollar, a rally in gold, and a slight pullback in major equity indices, indicating the market might be preparing for cooler inflation and economic data than widely anticipated.A significant milestone was reached this morning as Cboe D