Global #Wall Street

In just 15 years, the cryptocurrency market has exploded, reaching an impressive market capitalization of $2.09 trillion—double the value from just a year ago.

The recent approval of both spot Bitcoin and Ethereum ETFs in the United States marked a significant milestone for the mainstream adoption of digital assets and the broader Web3 space.

In a notable sign of growing institutional confidence in digital assets, U.S. Bitcoin exchange-traded funds (ETFs) have experienced a surge in inflows, attracting $2.4 billion in the second quarter of 2024.

Interest in Bitcoin ETFs is gaining substantial traction on Wall Street, as major financial institutions and hedge funds significantly alter their crypto holdings.

In a significant development for both traditional finance and cryptocurrency, Morgan Stanley has reportedly authorized its wealth advisors to offer Bitcoin exchange-traded funds (ETFs) to high-net-worth clients.

In a bold symbolic gesture, the Ethereum flag was raised high above the iconic Wall Street bull on Tuesday, marking a significant milestone for the world's second-largest cryptocurrency.

In a move that underscores the growing acceptance of cryptocurrencies by traditional finance, Wall Street institutions are venturing into new territory with Exchange-Traded Funds (ETFs) that combine Bitcoin, often dubbed "digital gold," with physical gold.

While headlines blare about the successful launch of several Bitcoin ETFs in 2024, a deeper look reveals a potential hitch. A recent Blockworks article argues that Wall Street, while comfortable with Bitcoin itself, might be underprepared for the complexities of managing crypto ETFs.

The American Securities Association (ASA), representing regional financial services firms, has taken legal action against the Securities and Exchange Commission (SEC) for allegedly failing to comply with the Freedom of Information Act (FOIA).

Shytoshi Kusama, the leader of the Shiba Inu (SHIB) project, expressed a sense of encouragement for the SHIB community after the SEC's significant approval of the first spot Ethereum ETFs. In a tweet dated May 24, Kusama hinted at the possibility of a Shiba Inu spot ETF while reaffirming his dedication to the continuous advancements within the SHIB ecosystem.

Some top analysts on Wall Street are suggesting that the US Federal Reserve's potential shift in stance on inflation could serve as a catalyst for a significant surge in the cryptocurrency market, potentially amounting to trillions of dollars. This forecast is driven by the anticipation of about $6 trillion in sidelined capital returning to the market as the Fed eases its hawkish stance.

The US cryptocurrency sector is on edge as an important vote looms in Washington next week, amidst Bitcoin's soaring value and increasing attention from Wall Street. The Financial Innovation and Technology for the 21st Century Act, known as Fit21, stands poised to potentially reshape the regulatory framework for digital assets.