A sentiment index that tracks crypto markets changed to “fear” early Monday as ETH recorded its worst single-day drop since May 2021.
Superstate’s new offering comes after its first tokenized fund of short-term U.S Treasury bills, which debuted earlier this year.
The weekend attack on pro-crypto presidential candidate Trump should galvanize bids for cryptocurrencies, one observer said.
Traders previously warned of the bearish market reaction to Mt. Gox’s bitcoin repayments.
Spot bitcoin ETFs are expected to be approved by major wirehouses and large private bank platforms in the third and fourth quarters, the report said.
Some traders expect ether prices to reach as high as $4,000 in the coming days, with odds of an ether ETF approval raised to 75%.
The stock was the second worst performing among crypto stocks on Thursday.
The Stock Exchange of Hong Kong (HKEX) confirmed they aren’t available. Chinese authorities are wary that ETFs offer a way to bypass strict international capital controls.
The crypto market is balancing the threat of stagflation against a potential liquidity injection from the Treasury General Account (TGA), and the launch of Hong Kong’s bitcoin ETFs.
Investors are still gauging macroeconomic factors, one observer said.
