The Block
Bloomberg Senior ETF Analyst Eric Balchunas said he expects Hong Kong spot bitcoin and ether ETFs will attract a modest $500 million in cumulative assets under management.Although saying approval of the crypto-related investments in Hong Kong is a positive development, he said the market is “child’s play” when compared to the much larger ETF market in the U.S.
The UK’s Finance Minister announced that the government plans to legislate for a regulatory cryptoasset framework by the end of July.Prime Minister Rishi Sunak, when acting as the country’s finance minister, spoke about his aim to make the UK a global crypto hub.
Bitkraft Ventures and Hashed co-led a $10 million funding round for crypto gaming studio Avalon, which is slated to release a massively multiplayer online game. Later this year, players will be invited to play a closed, early-access version of the game, also called “Avalon.”
Railgun token (RAIL) gained over 140% in the past 24 hours after an X.com post from Vitalik Buterin showed his support for its privacy pools protocol.Railgun is a privacy protocol that enables private smart contract and DeFi transactions.
Quick Take Germany’s largest federal bank, Landesbank Baden-Württemberg (LBBW), plans to offer crypto custody services to meet increasing client demand. The market launch is planned for the second half of 2024 and will be in partnership with Bitpanda.
Not a single public miner has outperformed bitcoin year-to-date in the run-up to the network’s latest halving event this week. However, CEOs at leading Bitcoin miners remain upbeat amid market share consolidation and new application opportunities, according to analysts at Bernstein.
Crypto investment products returned to net outflows last week, with $126 million exiting funds globally, according to CoinShares.These represent the first weekly outflows since the record $1 billion worth of outflows registered in the week ending March 22.
The partnership between Stepn and Adidas will begin with an NFT collection. Physical merchandise is also planned, according Stepn.
Despite a global stock tumble amid geopolitical fears, the price of solana has lead crypto majors in a daily recovery.The uptick comes after bitcoin and the broader cryptocurrency market fell nearly 10% on Saturday.
Quick Take Solana’s v1.17.31 release is now recommended for general use by mainnet validators. The patch is designed to help alleviate congestion issues on the Solana network.
