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Before the launch of spot cryptocurrency ETFs in Hong Kong, the city’s ETF market accounts for 0.6% of the entire U.S. ETF market.
Analysts at Bernstein see the slowing spot bitcoin ETF flows as a “short-term pause” before the foremost cryptocurrency resumes its bull run toward their $150,000 target. The analysts also argued spot Ethereum ETF denials could be bullish for ether and reiterated their anticipation that the total crypto market cap would triple to $7.5 trillion.
Bitcoin has fallen below the $63,000 mark as weak U.S. GDP growth spreads rate-cut gloom. However, major stock indices have remained robust in the face of higher-for-longer rates.
Bitcoin is on course for 12% losses in April, and with the monthly close just days away, it could end up sparking the weakest BTC price action in more than a year.
- 12:40Solv Protocol: SolvBTC and its LST product have been launched on the Sonic Labs mainnetSolv Protocol has announced that its SolvBTC and SolvBTC.LSTs products have officially launched on the Sonic Labs mainnet. Users can now bridge their Bitcoin assets to the Sonic ecosystem through this platform. Previously in December 2024, Sonic Labs announced a plan to airdrop approximately 200 million S tokens, which will end in June 2025 for the first quarter, incentivizing user participation and developer contributions through two point mechanisms: Sonic Points and Sonic Gems.
- 12:39IOTA launches a 10 million dollar developer funding programIOTA has launched the second season of its Grants program, offering $10 million in funding to developers, with applications now open. The grant program aims to support developers in creating open-source DApps, tools and utilities, driving innovation in the IOTA ecosystem.
- 12:37Bitget has launched the U-denominated FLOCK perpetual contract, with a leverage range of 1-50 timesAccording to the official announcement, Bitget has announced that it has launched a U-denominated FLOCK perpetual contract, with a maximum leverage of 50 times. The contract trading BOT will be opened simultaneously.