According to SEC public documents, ARK Invest cooperated with ETP issuer 21Shares to submit the application for the first Ethereum spot ETF. The fund is called "ARK 21Shares ETHEREUM ETF". This fund became the first attempt to list direct investment market capitalization in the United States. Fund for the second largest cryptocurrency ETH.

This news had some impact on the price of Ethereum. At first, the price of Ethereum rose from US$1,625 to US$1,670, but the increase failed to last, and soon fell back to around US$1,630, and continued to fluctuate within this range, rising only 0.02% in the last 24 hours. Bitcoin has followed a similar trend, falling 0.17% in the last 24 hours.

Grayscale is calling on the U.S. SEC to approve its spot Bitcoin exchange-traded fund (ETF) application, arguing that further delays will harm investors.​

Lawyers for Grayscale sent a letter to the SEC on September 5 seeking a meeting with the securities regulator regarding the progress of approval of a spot Bitcoin ETF. The SEC's review of Grayscale's application took nearly three times longer than allowed under securities laws, the lawyers said in the letter.

Lawyers say the commission has no reason to treat spot Bitcoin ETFs differently from futures-based Bitcoin ETFs. Grayscale urged regulators to "move quickly" to green light its application as it prepares to launch its product.

Yesterday, PERP also ushered in a nearly doubling of prices. In recent days, many small-market capitalization currencies have experienced very good gains.

The rise of these currencies is not inexplicable and can be judged in advance from the market.

As long as you have the strength to judge the bottom, there are many opportunities for short-term and mid-term trading.

All of this requires work and planning in advance, rather than waiting for the price to rise and then chasing after it.

Selecting a target is very difficult and requires a lot of time and energy.

PERP, the full name of Perpetual Protocol, is a decentralized perpetual contract protocol that realizes the trading of every asset through a virtual automatic market maker (vAMM).

BTC triple TH is up nearly 700% today following the much-anticipated listing of the cryptocurrency. The Meme token briefly rose to an intraday high of $0.00005066 before profit-taking pulled it lower.

Now finding support near the 50 EMA on the 5-minute chart, BTC triple TH is stabilizing between key levels as bulls look to continue the uptrend.

Despite falling back from its peak, BTC Three TH is still up a whopping 448.83% so far today against the backdrop of listing volatility.

BTC Three Th’s Indicators Suggest Consolidation Ahead of Continued Trend

The 5-minute chart of BTC Triple TH shows three important EMA levels – 20, 50, and 100. The coin is currently trading at $0.00003518, just below the 20 EMA but above the 50 EMA.

The market in the second half of the year will show a downward spiral process of decline and rebound, and investors are advised to wait and see. The LSD sector is the main direction of the next wave of market trends. New projects have growth potential, but the top currencies have a larger market value. The position data of venture capital companies shows that Ethereum has become the largest position of the leading venture capital companies, and the next wave of performance may exceed expectations.

How do you view the current market cycle? Regular readers know that it has been emphasized that there may be a sharp decline in the second half of the year, and the bottom position is believed to be around 20,000. But unless a black swan event occurs, the decline will be a slow decline and it is unlikely to reach the bottom in a short period of time. Therefore, the market trend in the second half of the year may be a downward spiral process of decline, rebound, decline, and rebound, and there may be a series of alternating performances of various altcoins, most of which are unpredictable. For long-term investors, it is recommended to wait and see.

After all the data settled last week, market expectations for the FOMC's next interest rate decision have not changed much. Interest rates are still expected to "remain unchanged" in September, and the possibility of another interest rate hike in November is only 30%. In addition, although the U.S. economic momentum remains strong, last week's employment data was clearly dovish, especially the JOLTS job vacancies that were significantly lower than expected on Tuesday and the weak non-farm payrolls data on Friday.

In the latter stages of the Fed's rate hike cycle, asset prices and growth pricing are increasingly negatively correlated with economic surprises, and markets have responded favorably to a modest slowdown in data, with the traditional 60/40 portfolio performing strongly last week, closing at Up 1.6%; as long as the data is not weak enough to plunge the economy into a serious recession, the "bad news is good news" trading philosophy is likely to continue in the short term. This line is indeed quite delicate, and the current market behavior is very confusing to neutral market observers. It may be a bit short-sighted, but such market behavior is not uncommon in the late stages of economic cycles in history.

Litecoin is up 0.5% in the past 24 hours. This gain did not dampen a 2% decline on its weekly chart and a 30% decline on its monthly price chart. However, investors are still wondering if this small increase could soon propel this coin to the moon.

Litecoin up 0.5%

Litecoin edged up 0.5% over the past 24 hours. The rise was caused by a panic rally after LTC dropped to $61 yesterday.

Litecoin Daily Price Chart

Key characteristics that drive stocks to surge higher in bull markets

Swiss bank SEBA receives in-principle approval for issuance of digital assets in Hong Kong

Grayscale Investments LLC won a court ruling on August 29 to convert its Bitcoin Trust, GBTC, into an ETF. Investors looking to bet on Bitcoin may soon have more options. Major financial firms including BlackRock, Fidelity and Invesco have submitted applications to sell U.S. “spot” ETFs directly tied to Bitcoin holdings. In the past, the U.S. Securities and Exchange Commission (SEC) has often rejected these products, citing caution over volatility and potential manipulation. But Grayscale’s ruling and BlackRock’s filing suggest the cryptocurrency industry has the upper hand.