In recent years the rate of filing their application for offering crypto services has grown dramatically; a filing dated October 2, 2024, notes that a trillion dollar asset manager has extended its plan to launch its ETFs.
Franklin Templeton, a leading asset manager, has recently filed, Franklin Templeton, filed a proposal to the US SEC to launch a Bitcoin and Ethereum index ETF.
The yet-to-be-launched Bitcoin & Ethereum Crypto Index ETF by Franklin Templeton will allow investors to gain exposure to BTC and Ether in a single fund.
Market watchers claim that the back-to-back entries of traditional finance assets managers and banking giants have been transforming the cryptocurrency market at its verge. As of writing the Bitcoin spot ETF by BlackRock was one of the most traded and with highest holdings in Bitcoin.
Another asset manager, Hashdex also submitted its amended application with the regulatory commission in order to secure approval to debut its ETPs.
Other Market News Updates
On October 03, 2024, Todayq reported that the Australian Police Department had busted a scam and recovered $9.3 million in cryptocurrencies. Earlier this month the enforcement agency arrested Jay Je Yoon Jung over the charges of association with the fraudulent scheme.
Bitwise a known asset manager has also filed its application with the regulators in Delaware for the ‘XRP’ ETF. While conversing with a crypto media outlet, a spokesperson for BitWise authenticated the documents and news about the upcoming ETF.
Ripple, a leading crypto and blockchain-based company announced on the first day of October 2024 that it has secured in-principle approval in UAE, from the regional regulatory commission. The company is constantly expanding its presence in the market and is also termed one of the early companies that entered cryptocurrencies.
Crypto ETFs Price Updates
As per data from SoSoValue, the Bitcoin spot ETFs collectively saw an outflow of $91.76 million, the outflow list is ruled by ARKB followed by GBTC, IBIT, and BITB. Despite heavy losses, FBTC by Fidelity saw an inflow of $22.0 million.
However, the Ethereum spot ETFs saw an inflow of $14.21 million as of October 2, 2024; ETHA the Ether spot ETF by BlackRock saw an inflow of $18.04 million followed by EZET.
Crypto Market Price Update
When writing the cryptocurrency market capitalization was $2.01 trillion after failing over 1.20% in the past 24 hours. At the same time, the fear and greed index was at 36 reflecting fear in the market sentiment.
Until publishing, Bitcoin was trading at $60,761 after losing 1.11% of its price in the past 24 hours and over 7% in a week. The vast market has tumbled to its verge, including the decline in the prices of leading cryptocurrencies such as Ethereum, XRP, Bonk, Dogwifhat, and Sei.
The intraday gainers’ list is ruled by Aptos (APT) trading at $8.23 surging 8.55% followed by Flare, eCash, Stacks, Tron, Ethereum Classic, and Sui token. However, the weekly gainer’s list is topped by the FTT token, the native of FTX growing 38.65% in the past seven days reaching $2.00 followed by Wormhole, Sui and Bonk.
