Spot ETH ETFs to Launch in Hong Kong, EigenLayer Launches Actively Validated Services

Apr 12, 2024
Market Update The subpar consumer sentiment numbers released today likely did not help asset prices, but geopolitics seems to be in the driver's seat today, with rumors of escalation in the Middle East pushing rates lower while driving the DXY and gold higher. Most risk assets, including crypto, have sold off based on these reports. $BTC has retreated from nearly $72k in the overnight hours to $69.5k, while $ETH has dipped below $3500, and $SOL is trading around $167. Altcoins have pulled back more significantly, with very few in the top 100 showing gains today. Despite this, flows into ETFs turned positive over the past two days, a positive sign following a hot CPI print, but there likely were some panic outflows in the morning hours, indicated by the pronounced discount on Coinbase following the US market open. This discount is recovering, and prices seem to be stabilizing.Source: Farside Investors, FundstratOn Wednesday we discussed rumors about imminent spot BTC ETF approvals in Hong Kong. It appears that, based on today's report from Bloomberg, there is rising confidence that we see both BTC and ETH spot ETFs approved as soon as next week. This approval will allow the Hong Kong subsidiaries of prominent mainland Chinese asset managers, Harvest Fund Management and Bosera Ass

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Reports you may have missed

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.65% falling to $60k and ETH -1.53% approaching the low $2,300s. Aptos (APT -6.64% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE -2.19% is also showing slight gains following...

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.65% climbing back above $61,000 and SOL -1.29% moving above $145, while ETH -1.53% is lagging, trading around $2,400. Among today's outperformers is SUI -1.12% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...

Sign in to read the report!

We have detected you are an active member!

Ray: d1d4c8-571243-75f097-3fc1d1-e9865b