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🪙 Asset management giant Fidelity discloses $4.7 million seed investment in Ethereum ETF: SEC filing

Asset management behemoth Fidelity disclosed a $4.7 million seed investment in its latest amended filing for its spot Ethereum exchange-traded fund. FMR Capital, Inc., an affiliate of Fidelity, bought one share for $40 in late May.

Later, on June 4, FMR bought 125,000 shares at a share price of close to $38, Fidelity said in its amended registration form filed on Friday. A mention of fees was absent in Fidelity's form, echoing previous statements released by other spot Ether ETF issuers.

📋Cryptoquant: We are entering the early altcoin season.

$ETH #RV is growing faster than #BTC MVRV, which indicates that the #ETH market is warming up relative to its fundamentals on the chain.

🤓 Given the current situation with ETFs, this may be the season for ETH only. Historically, when ETH grows, other altos tend to follow it.

🟢 Market situation:

-Bitcoin in the area of 65, 469$;
-Ethereum is about $3,563;
-Fear and greed index: 64;
-Bitcoin dominance: 55, 38%;
-Altseason index: 16;
-Capitalization: $2.33 trillion.

🔹#SEC closes investigation against #Ethereum

The regulator will no longer bring charges, claiming that the sales of #ETH are securities transactions.

This news gave rise to the crypt.

#BTC at ATH2021

#SOL #ETH is still far under ATH2021

Equity big caps in New ATHs (Discovery price)

BTC at ATH

Bigcap Alts (#ETH #SOL) under ATH

Many Shitcoins still at bottom & can be delisted at anytime.

⚡️The market collapsed upon the release of data on yesterday's sales on the spot Bitcoin ETF market.

I warned about possible sales, but the wave dragged on and I thought it had already passed. This news has worked, now it is important to maintain the support level of $ 67,000, then there are chances for a rebound.

🇺🇸Today there will be an SEC decision on the Franklin Templeton Ethereum ETF.

😎Donald Trump has reiterated that he is a supporter of cryptocurrencies

Donald Trump once again reminded that he is a champion of cryptocurrencies and criticized the Democrats' attempts to regulate the sector.

Also according to Reuters, he called himself a crypto-president.

⚡️A bill has been submitted to the Senate that gives the #US president the authority to block access to digital assets. A lot of people shit themselves knowing #Biden's mental abilities...

🇺🇸 SEC Chair Gary Gensler says disclosures not enough to protect crypto exchanges

U.S. Securities and Exchange Commission Chairman Gary Gensler said Wednesday that federal securities agents may continue bringing enforcement actions against crypto exchanges, even if the platforms disclose their products’ risks to retail investors.

The companies are also not protected from lawsuits if they publicize “misleading” information that leads traders to pour money into products they otherwise wouldn’t invest in, he said.

💰The Bitcoin funding rate has been positive over the past few weeks as sentiment has shifted to bullish.

Futurestrading positioning has also increased over the past 24 hours. This signals that fast traders (futures traders) expect bitcoin to continue to rally.

#ort/usdt is about to bounce off the Key Zone on weekly👀

Be ready for a new rally🚀

Btw Tier-1 exchange listing soon🔥

✅Yesterday, inflows into spot bitcoin-ETFs totaled $887 million - the second largest daily inflow since the launch of this product

💰 #btc/usd

So good so far! Breakout above the resistance cluster and fixation above the one

Looking for more upside📈

🔹 Trading of #ETF-#ETH may begin by the end of June or early July

#BlackRock has submitted an updated application #S-1 to launch spot ETFs on the air. The shares will be listed under the ticker #ETHA.

Eric Balchunas, analyst at #Bloomberg #ETF, considers this a good sign and expects that the launch date of the ETF trading will be approximately July 4.

❌ JPMorgan is skeptical about the idea of approving ETFs on SOL and other altcoins

According to analysts at the investment bank, the status of most cryptocurrencies being classified as securities would not allow for this. The SEC is adamant that SOL and other crypto assets outside of bitcoin and ether should be classified as securities.

The SEC could approve alta ETFs if a law is passed that takes them out of the securities classification. However, no such laws or instruments currently exist.

📋There are many similarities between the 2016 cycle and the current 2024 cycle.

🪙If you look at the chart, the RSI has just returned from the overbought zone, and the price is moving sideways. We observed a similar pattern in the previous cycle after the bitcoin exchange rate halved.

🪙In 2016, the RSI rose from 60 to 90 three times before the price eventually peaked.

🪙The first correction of the RSI from the overbought zone after halving occurred when bitcoin began a parabolic movement.

🪙If this pattern repeats like the previous cycle, then this is just the beginning.

📊 DeFi markets surge in 2024 as capital inflows drive growth - Binance Research

2024 has seen a flood of capital into decentralized finance (DeFi), driving the total value locked (TVL) up by 75.1% year-to-date (YTD) to $94.9 billion from $54.2 billion at the start of the year, according to a report by Binance Research.

The Yield sector, after a 148.6% increase to $9.1 billion this year, is now the eighth largest DeFi market by TVL. On-chain interest rate derivatives platform Pendle has seen incredible growth this year, up 1962% to $4.8 billion.

The new law in the United States will change the crypto market – should we cry or rejoice?

FIT21 is not the name of a computer game club. This is a large-scale bill that was passed in the US House of Representatives.

😁Why is it important for cryptomaniacs to know about some kind of law? It will strengthen the regulation of cryptocurrencies, exchanges and brokers in the United States. In general, the crypt will be completely dragged into the “white” zone.

🧐What's the loudest part?

▪️ clarify the definition of digital assets and decentralization

▪️ A decentralized crypto offers to become exchange–traded commodities that will regulate the CFTC market, which can increase 70% of tokens, lead investors

▪️ an innovative strategy with a status return under control is 30% per annum

🤔 Is regulation good? The largest funds in the world began to enter the crypt. The market has grown due to the influx of money, not really worrying about the fact that the crypt is being increasingly tightly controlled.

So if the crypt is brought closer to the standards of the stock market, it can attract even more investors to the market and raise prices.

🌬 Or will the crypt lose its meaning? If it is regulated in the same way as stocks, it is unlikely to remain an alternative financial system. The freedom of the crypt may disappear.

🤔Will it hit prices? It is unclear, because the money of all those for whom the crypt is just an investment will remain in the crypt.

We talk as if everything has already been decided. But the final decision will not be made soon, maybe the law will be changed along the way.

In addition, this law is part of a big political game in the United States. The struggle of Republicans and Democrats for voters before the presidential election. And we are fighting with the exchange and the CFTC for full implementation.

😉Everyone has reasons to promote or repeal the law, so the war for the crypto market will be hot. We will tell you about all the important things here!

Will the spot Ethereum ETF be approved on Thursday? Opinion…

On May 23, the SEC is due to consider applications for a spot ether ETF. It seemed that there was no chance of approval this month, everything changed at the last moment.

The stumbling block is the question of whether ether is a security. Galaxy believes that the SEC can make such a feint: to declare that ETH itself is not a security, but the staking services are.

Thus, the recognition of ETH staking as securities-related services will be quite in line with previous SEC statements.

I am sure that Biden will give us a spot Ethereum ETF. Recently, the SEC abruptly changed its position after the vote on SAB 121: Republicans and Democrats voted equally for the lifting of restrictions, showing that both chambers are warm to cryptocurrencies.

What is SAB 121? This SEC rule requires companies that store cryptocurrency for customers to reflect it as a debt (obligation) on their financial statements.

Critics of SAB 121 argue that this rule scares banks away.

Has Biden decided to love the crypt? Of course: his opponent Trump has gained great popularity in the crypto community. A recent poll from DCG showed that 48% of voters in swing states do not trust political candidates who interfere in cryptocurrency.

So the approval of the spot Ethereum ETF will help Biden say that it was under him that the long-awaited ETFs were approved. No one will notice (probably) that he refused to cancel SAB 121.

😎ETFs for ether do not give investors much, when compared with the abolition of SAB 121. Without this rule, much more money would flow into the crypt than through these very ETFs. As long as it is a "liability" for banks, they will have to reserve capital to cover possible losses, and they don't really want to do that.

😉What is the result? I think that rumors about the imminent approval of an ETF on ETH mean that Biden is coming into play.

We are looking forward to May 23rd. Approval is surely waiting for us!