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With the crypto market turning bullish again after a positive sentiment on Ethereum spot ETFs, Santiment highlighted high whale activity in two altcoins. The crypto analytics firm noted that coins with increased whale interest often experience price reversals.
WisdomTree, the asset management company that also offers a Bitcoin spot ETF product in the US, has received approval from the FCA for its Physical Bitcoin (BTCW) and Physical Ethereum (ETHW) ETPs. The products, which are expected to be listed on the London Stock Exchange on May 28, will only be open to professional investors.
As the cryptocurrency-focused debate in the US gains momentum as the elections approach, SEC chairman Gary Gensler also commented on a new bill expected to be presented to the House of Representatives on Wednesday. Strongly criticizing this bill, also abbreviated as FIT21, Gensler stated that the SEC will be completely excluded here and said, “Not only the crypto world, but also the $ 100 trillion capital markets will be badly affected here.”
PEPE, which recently reached its new ATH after more than 1 year, was also notable for being the coin that responded the fastest to the recent cryptocurrency rises. PEPE reached its new high today.
Bitget, one of the world’s cryptocurrency exchanges and a Web3 company, has announced the appointment of Gracy Chen as its new CEO, effective May 2024, replacing Sandra Lou, who will leave the platform to pursue her own business goals. With more than 10 years of experience in various fields, Chen is also known as one of the leading female entrepreneurs in the crypto world.
While the SEC made a major U-turn on Ether spot ETFs, it was stated that two firms would not apply for this fund due to the negative view of the institution on the staking feature.
The VanEck spot Ether ETF, which the SEC will either approve or disapprove tomorrow, has been listed on the DTCC (Depository Trust & Clearing Corporation). This usually means that the fund is ready for trading.
Binance Labs, the investment arm of Binance, the world’s largest stock exchange, announced its investment in Aevo. While Binance continues to invest in innovative companies in the blockchain ecosystem, the amount of the fund was not disclosed. AEVO token increased by 10%.
The US Securities and Exchange Commission (SEC) has requested Nasdaq and CBOE exchanges to prepare Ether spot ETF files by making the necessary changes. In this news of Reuters, it was also stated that the SEC is preparing to approve Ether spot ETFs.
Standard Chartered analysts, who have previously made many positive analysis and price forecasts for Bitcoin and Ether, stated that if Ether ETFs are accepted, they expect an investment of between $15 and $45 billion in the first year. Analysts also estimated the price at $8,000.