Business
The signs that made analysts confident the SEC would approve spot BTC ETFs in January are currently not present 2 1/2 months before the May deadline for the SEC to make its final decision on the first of the spot ETH ETF applications.
Bitcoin
The publicly traded software firm founded by Bitcoin maximalist Michael Saylor has purchased nearly $1 billion in BTC since mid-February.
The UK’s financial regulator announced it would allow institutions to build crypto asset-backed exchange-traded notes and the London Stock Exchange said it would accept applications for such notes.
DeFi
The Arbitrum DAO has deleted a proposal on the protocol’s governance forum to fund Tornado Cash developers’ legal defense with nearly $1.3 million in ARB tokens.
BlackRock’s spot bitcoin ETF has acquired a total of 195,985 bitcoin in the two months since its launch, surpassing MicroStrategy’s holdings of the digital asset, which the company has been acquiring since August 2020.
After the approval of spot Bitcoin ETFs, many crypto watchers expected spot ether ETFs to be approved at the time of a May deadline. But the current outlook is cloudier, leading to speculation about why the SEC might deny.
Users paid roughly $1.1 million on March 7 in gas fees to transact on the Solana blockchain, with a large part of those fees stemming from memecoin trading on decentralized exchanges.
Ethereum
Ethereum’s Dencun upgrade is scheduled for next week and is set to reduce fees on layer 2s by at least 10 times, if not more.
A DAO contributor proposes to provide “robust legal defense” for Storm and Pertsev as well as “to uphold the rights of developers to contribute to their deployment of permissionless open-source software.”
The launch of spot bitcoin ETFs is an inflection point and crypto has caught some of the afterglow. But investors must watch regulators as well as market indicators.
