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SEC unlikely to approve spot Ethereum ETFs 'any time soon,' says TD Cowen
SEC unlikely to approve spot Ethereum ETFs 'any time soon,' says TD Cowen

Quick Take Chances are slim that the SEC will greenlight a spot Ethereum ETF in the near future, according to TD Cowen. “The wait might not be as long as 26 months, but it likely would be after the election,” the investment bank said.

The Block·2024/01/13 16:31
The launch of the spot bitcoin ETF is just the beginning
The launch of the spot bitcoin ETF is just the beginning

Quick Take The Block’s Frank Chaparro gives his opinion on last week’s spot bitcoin ETF approvals. This first appeared in Chaparro’s biweekly The Scoop Newsletter on Jan. 12. Sign up now.

The Block·2024/01/13 13:06
Major Increase in Shiba Inu (SHIB) Burn Rate Today
Major Increase in Shiba Inu (SHIB) Burn Rate Today

According to Shibburn, over 16.5 million SHIB tokens have been removed from circulation in the last 24 hours.

Cryptopotato·2024/01/12 17:19
Bitcoin price dips below $46,000 as ETF approval causes increased market volatility
Bitcoin price dips below $46,000 as ETF approval causes increased market volatility

The price of bitcoin dipped below $46,000, a decrease of around 6.5% in the past 24 hours.BTC’s pull-back comes in the wake of heightened market volatility following the SEC’s spot bitcoin ETF approvals.

The Block·2024/01/12 14:46
Flash
  • 15:27
    BlackRock's IBIT hits $24m in pre-market volume today, 47% active sell orders
    On 19 September, BlackRock IBIT saw pre-market volume of $24 million today, of which 29% were active buy orders and 47% were active sell orders, according to data.
  • 15:27
    Ethernet Pectra Upgrade Confirmation Executed in Two Sessions
    On 19 September, Ether developers reportedly confirmed splitting the hard fork Pectra into two parts to minimise the risk of mistakes or errors.Pectra is expected to be Ether's largest hard fork to date. The core developers have decided to include a total of eight Ether Improvement Proposals (EIPs) in the first package, including EIP-7702, which aims to improve the wallet's user experience. The second package will be modified in the coming months, but for now may include proposals aimed at changing the Ether Virtual Machine (known as EOF) while introducing a feature called PeerDAS, which improves data availability sampling and ultimately benefits the L2 blockchain.
  • 15:26
    Bank of America: expect the Fed to cut rates by 75 bps in Q4 and another 125 bps in 2025
    The Federal Reserve announced an over-specified 50 basis point rate cut early Thursday morning, which Powell said was meant to demonstrate policymakers' commitment to keeping unemployment low as inflation eases. Bank of America was the only major brokerage to raise its forecast for Fed rate cuts for the rest of 2024 after the Fed's sharp cut, with the Wall Street brokerage saying it expects the Fed to cut rates by 75 basis points in the fourth quarter, after it predicted the Fed would cut rates by 25 basis points at its November and December meetings, respectively. And according to Fed policymakers' own projections, the federal funds rate will fall another 50 basis points by the end of 2024. ‘We are sceptical about the Fed's desire to deliver a hawkish surprise’ in the wake of the sharper rate cuts, the Bank of America economist said. The brokerage expects the Fed to cut rates by another 125 basis points in 2025, bringing the target federal funds rate down to a terminal level of 2.75%-3.00% from the current range of 4.75%-5.00%.