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TradFi execs say crypto derivatives will play larger role in Bitcoin’s future

Coin Telegraph
TradFi execs say crypto derivatives will play larger role in Bitcoin’s future
bitcoin adoption

Experts say BTC and ETH derivatives will be instrumental in integrating crypto to TradFi and sending each to new all-time highs.

Bedroom crypto traders and analysts have frequently expressed concern at Bitcoin’s (BTC) inability to overcome is all-time high, but professionals from the Chicago Mercantile Exchange (CME), TradingView and TJM Institutional Services believe that the launch of a spot Bitcoin ETF will play a key role in sending BTC’s price to the highs traders dream of. 

While speaking at Consensus on the role crypto derivatives will play in tomorrow’s market, TradingView general manager Pierce Crosby explained that derivatives have always been a integral part of the crypto traders’ experience, but trading at the centralized exchanges available from 2015 to 2022 meant many spot and margin traders had their “face ripped off” by high fees and slippage.

Crosby said,

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Data Analytics and AI Firm Raises Billion, Has No Plans for an Imminent IPO

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Spot Ether ETFs receive official approval from the SEC

Coin Telegraph
Spot Ether ETFs receive official approval from the SEC
Adoption

The U.S. Securities and Exchange Commission gave the green light to several spot Ether ETFs after speculation that the regulator was considering treating ETH as a security.

In a second landmark decision this year, the United States Securities and Exchange Commission has given the regulatory green light to spot Ether exchange-traded funds (ETFs) in the United States. 

Ina May 23 filing, the SEC approved the 19b-4 filings from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise — approving the rule changes allowing spot Ether ETFs to be listed and traded on their respective exchanges. The landmark decision came despite speculation that the securities regulator has been investigating whether to label Ether (ETH) as a security.

While the 19b-4s have been approved, ETF issuers still need the SEC to sign off on their respective S-1 registration statements for the spot Ether ETFs to officially begin trading. Industry analysts say this could take days, weeks or even months. The SEC reportedly instructed applicants to accelerate their 19b-4 filings on May 20. The removal of staking is the most notable amendment seen across several filings. 

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BlackRock, Grayscale and Bitwise amend ETF filings before SEC decision

Coin Telegraph
BlackRock, Grayscale and Bitwise amend ETF filings before SEC decision
Asset Management

With the SEC expected to decide by May 23 whether to approve or disapprove a spot Ether exchange-traded fund, three asset managers amended their 19b-4 filings.

Three additional United States-based asset managers with spot Ether (ETH) exchange-traded fund applications in the pipeline have amended their 19b-4 filings with the Securities and Exchange Commission (SEC).

In a May 22 filing from the Nasdaq Stock Market, asset management firm BlackRock amended its spot Ether ETF 19b-4 application to remove provisions for staking. Grayscale and Bitwise filed similar amendments with the New York Stock Exchange Arca. Having the SEC approve the 19b-4 filings would be a step toward greenlighting the listing and trading of spot Ether ETFs on exchanges.

“Neither the Trust, nor the Sponsor, nor the Ether Custodian [...] nor any other person associated with the Trust will, directly or indirectly, engage in action where any portion of the Trust’s ETH becomes subject to the Ethereum proof-of-stake validation or is used to earn additional ETH or generate income or other earnings,” said the amended BlackRock filing.

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Data Analytics and AI Firm Raises Billion, Has No Plans for an Imminent IPO

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CPI report spurs $932M inflows into crypto investment funds

Coin Telegraph
CPI report spurs 2M inflows into crypto investment funds
bitcoin etf

Digital asset investment funds attracted $932 million in weekly inflows, according to CoinShares data.

Crypto-based investment products saw a significant inflow over the previous week, marking the second consecutive week of positive flows since the recent market downturn. 

According to CoinShares data, digital asset investment products amassed $932 million between May 13 and 17, driven by an immediate response to the U.S. Consumer Price Index (CPI) report, which seemed to show that inflationary pressures were moderating again. Despite higher nflows, weekly volumes remained relatively low at $10.5 billion, a sharp contrast to the $40 billion observed in March.

The May 15 CPI report revealed that inflation rose by 0.3% in April, following a 0.4% increase in March. The CPI grew by 3.4% year over year, driven by significant increases in the energy and food sectors.

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Data Analytics and AI Firm Raises Billion, Has No Plans for an Imminent IPO

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SEC rumored to be reconsidering spot Ether ETF denial, say analysts

Coin Telegraph
SEC rumored to be reconsidering spot Ether ETF denial, say analysts
Coin Telegraph

ETF analysts James Seyffart and Eric Balchunas said they had increased their odds of the SEC approving a spot Ether exchange-traded fund from 25% to 75%.

Two exchange-traded fund analysts have said they are reevaluating the chances of the United States Securities and Exchange Commission (SEC) approving a spot Ether (ETH) exchange-traded fund after “hearing chatter” about the financial regulator.

In May 20 X posts, Bloomberg ETF analysts James Seyffart and Eric Balchunas said the SEC might be “doing a 180” on their expected denial of spot Ether exchange-traded funds this week. Filings from the regulator, public statements from SEC Chair Gary Gensler and reports of investigations previously suggested that the commission may have been preparing to deny spot Ether ETF applications.

However, according to Seyffart and Balchunas, the two analysts changed their prediction on the odds of spot Ether ETF approval from 25% to 75%. Seyffart hinted that the investment vehicle was becoming an “increasingly political issue.”

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Blockchain gaming investments reached nearly $1B in April

Coin Telegraph
Blockchain gaming investments reached nearly B in April
Blockchain Game

The investment figures come alongside a record high 2.9 million daily unique active wallets (dUAW) for the month.

Blockchain gaming saw investments totaling $988 million in the month of April, the highest since January 2021. The number of daily unique active wallets also reached a record-setting 2.9 million for blockchain gaming. 

DappRadar, in partnership with the Blockchain Gaming Alliance, released its April blockchain gaming report on 17 May. The banner month for the sector accompanies similar trends in the overall decentralized applications (Dapp) market.

According to the report, the recent boon can be attributed to several factors including renewed consumer interest in digital assets within the context of gaming:

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How and when to sell your crypto — a simple guide

Coin Telegraph
How and when to sell your crypto — a simple guide
Bitcoin Price

In the latest Cointelegraph video, we explain how to set up a successful exit strategy in crypto using a few simple steps.

Missing out on a crypto bull market is tough, but what’s worse is watching your crypto wealth skyrocket only to crash before you can take profits.

In the latest Cointelegraph video, we explain how to build your crypto exit strategy in a few simple steps.

Taking profit means turning your digital gains into real money. There are two main ways to cash out in crypto: convert your assets into stablecoins and transfer them to your crypto wallet, or sell your crypto for fiat and transfer the money to your bank account.

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Data Analytics and AI Firm Raises Billion, Has No Plans for an Imminent IPO

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Filing suggests SEC is exploring grounds to deny spot Ether ETFs

Coin Telegraph
Filing suggests SEC is exploring grounds to deny spot Ether ETFs
Coin Telegraph

A March 4 filing for BlackRock's spot Ether ETF called for feedback on whether the investment vehicle could be listed as a commodity.

Analysts have unearthed details from a March filing with the United States Securities and Exchange Commission (SEC) that suggest the regulator may consider labeling Ether (ETH) a security.

In a May 13 X post, Davis Polk and Wardwell Associate Scott Johnsson reviewed a March 4 filing from BlackRock over its application to list and trade a spot Ether exchange-traded fund on the Nasdaq. The filing delayed the deadline for the commission to decide on a spot Ether ETF from BlackRock until June but also called for public feedback on whether the investment vehicle could be filed as a commodity.

“The obvious purpose is to potentially deny on the basis that these spot filings are improperly filed as commodity-based trust shares and do not qualify if they are holding a security,” said Johnsson.

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JPMorgan’s Onyx to industrialize blockchain PoCs from Project Guardian

Coin Telegraph
JPMorgan’s Onyx to industrialize blockchain PoCs from Project Guardian
Coin Telegraph

Traditional firms like JPMorgan and WisdomTree are seeking to turn Project Guardian’s blockchain proofs-of-concept into scalable financial products.

Wall Street giants are looking at how to industrialize proofs-of-concept developed within the blockchain experiment Project Guardian. 

According to Stephanie Lok, product manager of JPMorgan’s blockchain platform Onyx, one of the company’s “very big focus area” is turning the learnings of the pilot program with the Monetary Authority of Singapore (MAS) into products. Lok shared these details during the TokenizeThis event in Miami on May 10:

Another traditional firm “really focusing on the blockchain-enabled finance migration” is the asset manager WisdomTree. Speaking at the event, Maredith Hannon, head of business development for WisdomTree, said the company is targeting portfolio personalization in addition to blending portfolios with checking accounts.

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Data Analytics and AI Firm Raises Billion, Has No Plans for an Imminent IPO

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Despite Bitcoin price volatility, factors point to BTC’s long-term success

Coin Telegraph
Despite Bitcoin price volatility, factors point to BTC’s long-term success
bitcoin etf

Bitcoin’s volatility persists after the halving, but surging ETF inflows and thriving L2 ecosystem growth fuel long-term optimism.

Bitcoin’s long-awaited halving event concluded on April 20, cutting the asset’s block mining reward from 6.25 BTC to 3.125 BTC. 

It was the fourth time Bitcoin has undergone a halving since its inception, and substantial price surges have historically followed these events.

After the 2012 halving, Bitcoin’s value skyrocketed by an impressive 9,500%, while the 2016 halving saw a 3,000% increase over the following year. However, the price rally following the 2020 halving was more modest, with Bitcoin’s value rising by only 650%.

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Data Analytics and AI Firm Raises Billion, Has No Plans for an Imminent IPO

Data Analytics and AI Firm Raises $5 Billion, Has No Plans for an Imminent IPO

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