🕵🏻Per a Coingecko study, Europe dominates the global Ethereum (ETH) ETF scene with an 81.4% market share. The area has 13 ETH-backed ETFs split across spot products and futures funds, amounting to $4.6 billion in assets under management (AUM). Canada is also a big market for ETH ETFs and commands a 16.6% market share of $949 million in AUM. ETFs have also become a gateway into crypto for many Canadian investors. Local regulators introduced stricter measures on crypto companies, leading to an exodus of exchanges like Binance and Bitstamp. Global ETH ETF AUM stood at $5.7 billion as of Feb. 2, spread over 27 ETFs featuring both spot and futures funds. European Ethereum ETFs have traded since 2017, when Grayscale launched its ETH trust (ETHE). However, Grayscale's fund was excluded from the study due to its close-ended structure. The company was engaged with the U.S. Securities and Exchange Commission (SEC) over converting ETHE to a spot Ethereum ETF, but a decision was delayed till May, crypto.news reported. 💰💰💰💰
Currently, Solana appears to be in a prime position for another leg-up toward the $120 🫨 area in the days ahead. Furthermore, current trends observed on the Parabolic SAR technical indicator also supports this bullish SOL price forecast. When the Parabolic SAR points below an asset’s current price, it indicates an imminent reversal of the ongoing downtrend. In this case, the Parabolic SAR (blue dots) currently point to $87, while the current Solana price is $0.96, confirming the positive forecast. Strategic traders could interpret this as a signal to hold or buy more, as it implies that the price trend might be on the verge of a bullish reversal.
Bitcoin price may still be correcting as many 🥳🥳predicted it would after the SEC approved several Bitcoin ETFs on Jan. 10. But the halving this year will exert its own influence over crypto exchange rates.
After crashing 15% from the Jan. 10 price to on Jan. 22, Bitcoin (BTC) retraced to support above $42,500 for the first five days in February. But it hasn’t stayed anywhere for long.🫱🏾🫲🏿🤓