Bitcoin
Crypto in the Red Ahead of Friday’s US Inflation Data
Bitcoin (BTC) remained below $68,000 during the European morning while several altcoins lost up to 5%. BTC is priced at just under $67,800 at the time of writing, virtually unchanged in 24 hours. The CoinDesk 20 Index (CD20) lost nearly 2%, with meme coins SHIB and DOGE leading the declines, falling 5.2% and 3.7%, respectively. Traders are awaiting Friday’s US PCE announcement, which Japanese exchange bitBank warned could mean more losses. “If inflation data is hotter than expected, bitcoin could give up about half of its gains over the past two weeks and fall to around $65,000,” bitBank said in an email to CoinDesk .
The listing of a spot ether ETF by the end of June is “a legitimate possibility,” says Bloomberg analyst Eric Balchunas after BlackRock filed an amended Form S-1revealing that an “seed equity investor” purchased the initial shares of the proposed product. “On May 21, 2024, Seed Capital Investor, an affiliate of Sponsor, subject to conditions, purchased Seed Creation Baskets, consisting of 400,000 Shares at a price per Share equal to $25.00,” it showed the S-1 form. “The Trust’s net asset value was $10 million.” Subject to regulatory approval, assets held in the ETF can be redeemed for cash or even ether. The iShares Ethereum Trust ether ETF will be listed and traded under “ETHA”.
The New York Stock Exchange would consider offering crypto trading if regulatory status was clearersaid the company’s president at Consensus 2024 in Austin, Texas. Lynn Martin referred to cryptocurrency trading as “an opportunity to watch” in a panel discussion on Wednesday. “The fact that we’ve seen about $58 billion coming into ETFs has been a strong signal that the market is looking for regulation in traditional structures,” Martin said. “So I hope the [SEC] saw the flows and said, ‘Hey, this makes a lot of sense,’ considering bitcoin ETFs have been a tremendous success.” reported earlier this month.