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Overall, US spot Ethereum ETFs saw $79.21 million in outflows on Monday, the largest since July Grayscale’s ETHE recorded a significant $80.55 million outflow on the same day. Spot Bitcoin ETFs had modest inflows of $4.56 million, led by Fidelity’s FBTC. On Monday, US spot Ethereum ETFs experienced their largest daily outflows since late July, totalling $79.21 million. This significant drop was primarily driven by the Grayscale Ethereum Trust (ETHE), which recorded an outflow of $80.55 million, marking its most substantial outflow since July 31. According to data from Sosovalue, ETHE was the only spot Ethereum ETF to report outflows on that day, highlighting a challenging period for the asset class. In contrast, Bitwise’s ETHW managed to post a modest inflow of $1.34 million, while the remaining seven spot Ethereum ETFs registered no significant movement. The total trading volume for the nine Ethereum ETFs reached $167.35 million, reflect...

Grayscale CEO eyes spot Bitcoin ETF, unlocking $30 trillion for institutional investors, signaling broader crypto access and a bullish market . In a recent CNBC interview, Grayscale CEO Michael Sonnenshein passionately conveyed the potential impact of a spot Bitcoin ETF, emphasizing its ability to “unlock” Bitcoin (BTC) for approximately “$30 trillion worth of advised wealth.” The CEO acknowledged ongoing conversations with the SEC, emphasizing a commitment to navigating regulatory complexities. JUST IN: Grayscale CEO tells CNBC a spot #Bitcoin ETF would "unlock" #BTC for about "$30 trillion worth of advised wealth." pic.twitter.com/yaM1riX9FI — Bitcoin Magazine (@BitcoinMagazine) December 18, 2023 You might also like: Mike Novogratz: Bitcoin poised for flight over ATH on spot BTC ETF approval “We see this as a tremendous opportunity for investors. It’s about providing access, and a spot Bitcoin ETF could be t...

Florian Rais, CEO of Geneva-based Criptonite Asset Management, isn’t happy with the lack of crypto clarity in the U.S. The U.S. Securities and Exchange Commission’s (SEC) ongoing delay regarding spot Bitcoin ETF applications, and its “misalignment” with the U.S. courts, is a nightmare for invest ors, Rais tells crypto.news. Read on for Rais’ take on how regulatory confusion in the U.S. has ramifications abroad, and whether the current bear market will inspire M&A activity. Why is clarity in the U.S. so important for a cryptocurrency-focused asset manager like Criptonite? Rais : It is not new that the U.S. drives the worldwide financial markets. Across most asset classes, it’s been larger and more active in volume than any other market in the world. Now that cryptocurrency enters its adoption phase by traditional asset firms, we — like others — understand that invest ment flow will only come if U.S. firms are able to invest with confid...

US Congressman Warren Davidson renews calls for SEC Chair Gary Gensler’s removal following a court ruling in favor of Grayscale. Davidson, representing Ohio, stated that the court’s decision further substantiates the claim that Gensler’s actions at the SEC are arbitrary and lack consistency. More evidence that Gary Gensler’s actions at the SEC are arbitrary and capricious. #FireGaryGensler https://t.co/1qYVnki8ja pic.twitter.com/IG2t6i9V40 — Warren Davidson (@WarrenDavidson) August 29, 2023 This marks the second legal defeat for Gensler and his team within two months. In July, a US district court ruled in favor of Ripple, another cryptocurrency firm, in a lawsuit initiated by the SEC. Additionally, Senator Davidson originally called for removing Gary Gensler in his ‘Stabilization Act’ in June. The bill aimed to overhaul the SEC’s structure, advocating for a more democratic system rather than having a single “tyrannical chairman....

Grayscale CEO Michael Sonnenshein emphasized the need for a balanced regulatory approach to cryptocurrency to avoid hindering innovation in the United States. Grayscale Investments CEO, Michael Sonnenshein, highlighted a potential negative outcome for the United States economy if the Securities and Exchange Commission (SEC) continues to take a one-by-one approach to regulating the cryptocurrency industry. During a recent interview with Fox Business, Sonnenshein expressed that the SEC could drive crypto firms out of the country by constantly resorting to enforcement actions against the industry. “If every crypto issued needs to go to a court of law, then as a country we are squashing the innovation taking place here,” Sonnenshein stated. Grayscale CEO Michael Sonnenshein on Fox Business 'The Claman Countdown'. Source: Fox Business Likewise, Ripple CEO Brad Garlinghouse echoed similar comments prior to the partial victory of Ripple, which was decided on July 13. On June 1...