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A new statement from the Biden administration declares the president’s stance on FIT21. Though the Biden administration opposes FIT21, it’s open to working with regulators on creating a balanced digital asset regulatory framework. FIT21 is set to be voted on in the U.S. House of Representatives later today.
Nasdaq filed the amended form for the world’s largest asset manager on Wednesday. Exchange CboeBZX filed revamped 19b-4 forms later on Tuesday for five spot ETF proposals.
Daily trading volume for Ethereum futures ETFs has hit a fresh all-time high amid growing spot approval anticipation.Ethereum futures ETFs generated $47.75 million in trading volume on Tuesday — 40% more than the $34.18 million peak set on March 5.
- 22:26The probability of the Fed cutting rates by 25 BP in November is 97.7 percentAccording to the CME “Fed Watch”: the probability that the Fed will cut 25 basis points by November is 97.7%, the probability of keeping the current rate unchanged is 2.3%. The probability of keeping the current rate unchanged by December is 0.6%, the probability of a cumulative 25 basis point cut is 27.7%, and the probability of a cumulative 50 basis point cut is 71.7%.
- 22:22Net Inflows Into Bitcoin ETFs Hit $997.7 Million This Past Week, Showing Positive Growth For Third Consecutive WeekNet inflows into the Bitcoin ETF reached $997.7 million this week, showing positive growth for the third consecutive week. With the exception of Tuesday, when bitcoin returned to $65,000, inflows were positive all week. Additionally, demand for the U.S. spot bitcoin ETF hit a six-month high last week, with net inflows of about $4.4 billion over the past 30 days. Bitcoin ETF net inflows have now reached $22 billion since January.
- 22:22Glassnode: Spot Arbitrage Trading Strategies Increase Significantly, Institutional Traders Use CME Futures to Hedge and Generate GainsGlassnode's analysis shows a significant increase in spot arbitrage trading strategies, with institutional traders utilizing CME futures to hedge and generate income. Given that the current annualized basis yield is around 9.6%, almost double the yield on short-term U.S. Treasuries, analysts believe that institutional interest in Bitcoin is likely to continue to grow in the coming months.
