SEC Delays Fidelity's Ether ETF Decision, Solana Mobile's Chapter 2 Exceeds Preorder Expectations
U.S. equities are ending the week on a strong note, with the SPY and QQQ both rallying more than 0.75% on the back of encouraging UMich Consumer Confidence Data, showing the highest mark since 2021 amid expectations of inflation easing and rates declining. Crypto markets are not sharing the confidence as the market continues to absorb large amounts of Bitcoin sales due to GBTC outflows ($2.2 billion). Total flows remain positive at $1.1 billion, with Blackrock and Fidelity surpassing the $1 billion mark. BTC (-0.45%) is trading around $41k while ETH (-0.24%) is performing slightly better, holding $2,450. Altcoins are underperforming, with total market cap excluding Bitcoin and Ethereum declining 3% on the day.
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