Bitcoin
Both long and short crypto traders saw massive liquidations in the hours that followed a false tweet from the SEC about the approval of a spot Bitcoin ETF.
The fake announcement sent the price of Bitcoin down 2% within minutes.
A race to the bottom in the fee war among prospective spot Bitcoin ETFs could make investing in crypto a lot cheaper through Wall Street than crypto exchanges.
The SEC sent comments to a number of Bitcoin ETF applicants just hours after they documented their expected fees in filings on Monday.
An anonymous user sent the Bitcoin creator’s wallet address more than a million dollars’ worth of the cryptocurrency after the network’s 15-year anniversary.
Bitcoin received the lion’s share of inflows with $113 million, while Ethereum had the second-largest inflows at $29 million.
Regulation
U.S. Securities and Exchange Commission Chairman Gary Gensler cautioned about scams and regulatory non-compliance in an X thread, as the SEC appears ready to begin approvals for spot bitcoin ETFs.
As the crypto industry prepares for the U.S. Securities and Exchange Commission’s decision on spot bitcoin ETFs, major financial players have revealed extremely competitive fee structures to attract early market share.
BlackRock, ARK Invest and several other potential issuers filed amended SEC filings on Friday that would put in place stock exchange rule changes needed for the spot Bitcoin ETFs to be approved.
For at least the next ten years, VanEck will donate 5% of its profits from its yet-to-be-approved spot BTC ETF to Bitcoin-focused nonprofit Brink.
