Crypto Research
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Equities are falling while rates gain after comments from Fed Governor Waller suggested that central bank policy will ease slower than the market is anticipating. The 10-year Treasury yield jumped to 4.07% while the dollar index gained 0.7% to reach 103.4. BTC is up 1% today, stabilizing at $43k after volatile price action from last weekâs spot ETF launches, which saw it rally to $49k only to fall 15% to...
The cryptocurrency market is currently experiencing a downturn, falling 3% overall. Ethereum and select ecosystem projects are bucking the trend, with ETH relatively flat in the last day, trading 0.2% lower at ~$2.6k and hitting a two-month high against Bitcoin as ETHBTC reaches 0.059. Outperformers in the top 100 include ETH NFT marketplace BLUR (+8.7%), layer-two OP (+6.8%), and ETH domain service ENS 2.61% (5.2%). In contrast, BTC is noticeably underperforming,...
INITIAL THOUGHTS ON ETF LAUNCHES The past week has marked a pivotal moment in the evolution of the crypto industry, a testament to the remarkable journey of an asset class that emerged from a distrubuted community of open source software developers just 15 years ago. This was evidenced by the successful launch of all 11 eligible Bitcoin ETFs on Thursday morning. Assessing the success of an ETF launch is a...
At long last, all eleven spot Bitcoin ETF applications have been approved! They all began trading this morning, and trading volumes have been impressive thus far. According to Bloomberg Senior Analyst Eric Balchunas, Grayscale and Blackrock are leading the pack, accounting for $1.7 billion in trading volume out of the $2.3 billion total (not including BITO). Investors will be eyeing ETF inflows, which will be calculated once share counts are...
In today's Crypto Comments video, we discuss the final steps in the ongoing Bitcoin ETF process, the possibility of trading beginning this week, and the market implications going forward. Please note that today's video was recorded prior to the SEC's tweet falsely announcing the approval of all ETF applications.
After receiving comments on their S-1 statements late yesterday, multiple Bitcoin ETF applicants filed amendments this morning in what appears to be the final steps in the process. Valkyrie cofounder Steve McClurg stated in an interview that he believes approvals should be effective tomorrow, with ETF trading beginning on Thursday. BTC (-0.26%) is showing modest declines ahead of the decision while ETH (-2.76%) has declined sharply, causing ETHBTC (-2.50%) to...
Bitcoin continues to slowly chop higher ahead of this week's highly anticipated decision from the SEC regarding the Bitcoin spot ETF. On Friday, issuers submitted their final 19b-4 forms, and this morning, all the S-1 forms were filed, offering a glimpse into the emerging fee war. Bitcoin is currently trading just above $46k. Meanwhile, ETH is up 4%, reclaiming the $2300 level. Following a mild pullback across the altcoin market,...
Markets are responding to various economic data releases, which showed the unemployment rate holding steady at 3.7% vs. 3.8% exp., and U.S. ISM Services PMI coming in at 50.6 vs 52.5 exp. The DXY (-0.25%) initially surged over $103 following the employment data but has dropped to $102.2 following the PMI data release. Equity indices are gaining to end the week, with the SPY and QQQ both rising approximately 0.10%....