Binance’s Crypto Market Share Sinks to 4-Year Low
While Binance remains a giant in crypto trading, its volumes dropped over 20% in September versus the previous month, while rival Crypto.com’s surged over 40%.
While Binance remains a giant in crypto trading, its volumes dropped over 20% in September versus the previous month, while rival Crypto.com’s surged over 40%.
Did the launch of spot crypto ETFs help bring crypto into the mainstream and encourage adoption – particularly by closing the gap between advisors and their clients?
Spot ether exchange-traded funds have seen net outflows of $500M since their launch, the report said.
Investment advisors held more than $4.7 billion worth of U.S.-based spot bitcoin exchange-traded funds as of the end of the second quarter.
It may not happen immediately and price action could be choppy to start due to outflows from the Grayscale Ethereum Trust, after it converts to an ETF, the report said.
Spot ether exchange-traded funds are expected to see 30%-35% of bitcoin ETFs’ net inflows, and may disappoint due to other factors such as the lack of staking, the report said.
Spot ether exchange-traded funds may begin trading as soon as this Friday or in a few weeks.
BlackRock’s iShares Bitcoin Trust continued to lead as the largest of the funds.
Ether’s market value relative to bitcoin is close to multiyear lows, and strong inflows into spot ETH ETFs could spark a catch-up trade, the report said.
The crypto market is being overly pessimistic about the imminent launch of spot ether ETFs in the U.S. and net inflows could hit $20 billion in the first year, Steno Research said.