Most of the trading volume of cryptocurrency-related exchange-traded funds or ETFs is dominated by the US market. This and more news in this handy daily summary so that you are always informed with the latest events that occur within the crypto world.
The United States leads the activity of cryptocurrency-based ETFs
📍Eric Balchunas, senior ETF analyst at Bloomberg, noted that 98% of all cryptocurrency ETF trading volume in the world occurs in North America. In Bloomberg’s monthly ETF report, the senior ETF analyst highlighted that US investors are the most active when it comes to cryptocurrency ETFs, accounting for 98% of all current trading volume globally.
Balchunas also believes that cryptocurrency-based ETF activity in the country could increase by up to 99,5% if the SEC were to approve a Bitcoin spot ETF.
The monthly ETF report also revealed that 15 of the 2.952 ETFs listed on US exchanges are crypto-related and are among the top-performing ETFs currently.
SEC postpones ruling on Ark Invest ETF
📍Despite US investors' interest in crypto ETFs, the SEC has decided postpone its decision on whether to approve or reject the Bitcoin ETF application submitted by Ark Invest. Cathie Wood, founder and CEO of the company, already anticipated that the US securities regulator delaying its decision on its application to create a Bitcoin spot exchange-traded fund, which was submitted last May.
During a interview Wood told Bloomberg, the Ark Invest CEO had also indicated that there is a strong possibility that the SEC will end up approving multiple Bitcoin spot ETF applications at the same time.
Bloomberg senior ETF analyst Eric Balchunas noted that the securities regulator's decision was the expected in the market.
Another $3 million in cryptocurrency disappears forever
📍Unknown user nd4.eth has once again burned a significant amount of cryptocurrency, as well as valuable NFTs. Blockchain intelligence and data platform Arkham has detected another surprising move by unknown user nd4.eth, who made headlines last week after burning $4,5 million worth of Ethereum (ETH) in late July.
Nd4.eth has left the crypto community in awe once again after burning another $3,3 million worth of ETH, adding GNS and GMX tokens and some valuable NFTs, including cryptopunks, bored apes and mutant apes, to its feat.
According to Arkham, the user has burned nearly $8 million worth of cryptocurrencies and NFTs in total, with no clear reason. For now, due to the new token burn, the crypto community is ruling out the possibility that it was a bug or a compromised wallet.
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