Ether ETF

U.S. Bitcoin and Ether ETFs recorded $582 million in net outflows on Monday, with BTC dipping to $85,100. ETF cost basis near $83,000 suggests potential support for traders.

Nearly half of the trading volume was attributed to Grayscale’s Ethereum Trust, which might indicate potential outflows.

Discounts in the Grayscale Ethereum Trust and Coinbase indicators have vanished, signaling positive momentum for ether.

Ether spot ETFs could attract as much as $3 billion in net inflows this year, according to the report.

Ethereum ecosystem tokens PEPE and MOG hit record highs following the approval of key ether ETF filings in the U.S., with traders viewing them as speculative bets.

The forecast mirrors the market reaction after spot bitcoin ETFs were approved in January, QCP Capital said.

The U.S. SEC has requested exchanges to update 19b-4 filings for ether ETFs ahead of a critical deadline, indicating possible approval progress, though final approval is not guaranteed.

Robert Mitchnick, BlackRock's head of digital assets, revealed that the asset manager has been actively engaging with pension funds, endowments, and sovereign wealth funds to provide education about the newly introduced spot bitcoin ETF products.

Bitcoin (BTC) and Ethereum (ETH) have experienced significant gains, with BTC rising by 2.8% to surpass $66,500 and ETH climbing to $3,240, fueled by reports suggesting the approval of spot crypto exchange-traded funds (ETFs) by multiple issuers in Hong Kong. Despite the absence of an official announcement from the Securities and Futures Commission (SFC), China Asset Management, Bosera Capital, and other applicants have claimed approval for listing spot bitcoin and ether ETFs on social media platform WeChat (Weixin).