Headlines
VanEck: Ethereum ETFs Could Outperform Bitcoin ETFs in Market Size
As the U.S. Securities and Exchange Commission (SEC) nears its final decision on approving Ethereum spot ETFs, industry experts debate their potential appeal. Critics argue that Ethereum ETFs may lack staking rewards, making direct ETH purchases more attractive. However, VanEck—a global investment firm behind one of the 10 spot Bitcoin ETFs launched earlier this year—predicts strong demand for Ethereum ETFs.
Pranav Kanade, a VanEck portfolio manager, stated:
“From a market perspective, the size of the spot ETH ETF market could be on par with or even exceed that of spot Bitcoin ETFs.”
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JPMorgan: Retail and Institutional Investors Are Fueling the Crypto Rally with Gold and Bitcoin Futures
JPMorgan reports that both retail and institutional investors are actively buying gold and Bitcoin futures, driving the recent crypto market surge.
Market Update
Data as of press time (source: CoinMarketCap):
Asset | Price (USD) | 24h Change |
---|---|---|
BTC | $71,405.62 | -2.29% |
ETH | $3,881.44 | -3.15% |
BNB | $603.10 | -3.56% |
ORDI | $77.68 | -2.29% |
DOGE | $0.1774 | +4.89% |
SOL | $176.84 | +7.66% |
Regulatory Developments
U.S. Lawmaker: Federal Reserve Lists CBDC as a “Key Duty”
Republican Congressman Tom Emmer revealed that the Federal Reserve considers Central Bank Digital Currencies (CBDCs) a core responsibility, alongside initiatives like FedNow. Fed Chair Jerome Powell recently clarified that the U.S. is “nowhere near” adopting a CBDC.
Hong Kong Advances Digital HKD Pilot to Phase 2
The Hong Kong Monetary Authority (HKMA) launched the second phase of its “e-HKD” pilot, exploring programmable payments, tokenized asset settlements, and offline transactions.
Blockchain Innovations
PancakeSwap Launches New veCAKE Model with Weekly Rewards
PancakeSwap’s upgraded veCAKE system allows users to earn weekly rewards and a share of protocol revenues. Stakeholders must migrate their positions by March 20 (UTC) to qualify.
BNB Chain Introduces Rollup-as-a-Service (RaaS)
BNB Chain’s RaaS solution enables developers to deploy custom L2 networks with low-cost, no-code options, bolstering its ecosystem (currently ranked #3 by TVL).
Liquid Staking Protocol SHUI Secures Funding
Conflux-based SHUI raised seed funding to expand its liquid staking services, now boasting a $2.5M TVL.
Crypto Spotlight
SEC Exposes $300M Crypto Ponzi Scheme Targeting Latin Americans
The SEC charged 17 individuals for allegedly defrauding 40,000+ victims with false promises of cryptocurrency investments.
Elon Musk: Tesla to Accept DOGE Payments “At Some Point”
Musk reaffirmed his support for Dogecoin, calling it “the people’s crypto,” and hinted at future DOGE integration for Tesla purchases.
Israel Greenlights BILS Stablecoin Pilot
Israel approved its first shekel-pegged stablecoin, BILS, to be tested on Solana under regulatory oversight.
Economic Trends
U.S. Stocks Close Lower Amid Fed Rate Uncertainty
- Dow: -0.35%
- Nasdaq: -0.30%
- S&P 500: -0.29%
Swaps Market Predicts <75bps Fed Rate Cuts in 2024
Markets now expect fewer rate reductions than previously anticipated.
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FAQ
Q: Why might Ethereum ETFs attract more demand than Bitcoin ETFs?
A: Ethereum’s smart contract functionality and broader use cases could appeal to institutional investors seeking diversified exposure.
Q: How does staking affect Ethereum ETFs?
A: Current proposals may exclude staking rewards, potentially limiting investor interest compared to direct ETH ownership.
Q: What drives Bitcoin’s price volatility?
A: Supply-demand dynamics, media coverage, regulatory news, and macroeconomic factors all play roles.