In a week marked by significant increases in BTC and various developments surrounding Bitcoin & Ethereum ETFs, many altcoins have reached new highs. Let's review the notable news and alphas from the past 7 days:
➡️ I. Highlighted Market News
BlackRock files registration for a spot Ethereum ETF named iShares Ethereum Trust.
Following this news, the price of $ETH surged, surpassing the $2100 mark. This triggered positive trends around Ethereum's robust growth, including:
🔸Layer 2: $ARB, $OP...
🔸LSD: $LDO, $RPL, $SSV...
🔸LSDFi: $PENDLE, $MAV, $LBR
Apart from BlackRock, other major investment funds such as VanECK, ARKinvest, Hashdex, Invesco/Galaxy, and GrayScale are also establishing Ethereum funds.
The expected benefits of the Spot ETF are anticipated to bring substantial growth opportunities to the Ethereum ecosystem.
Additionally, Ethereum is set to host the annual Devconnect event from 15/11 in Istanbul. There is a high likelihood of announcements regarding upcoming important technological updates on Ethereum.
FTT doubles after SEC Chairman Gary Gensler comments on FTX potential reboot.
SEC Chairman Gary Gensler recently commented on the possibility of FTX restarting operations with new leadership if they adhere to regulations. Three investors are competing to acquire FTX:
🔸Bullish – A crypto exchange led by former New York Stock Exchange President Tom Farley.
🔸Fintech Fig Technologies – A U.S. startup.
🔸Proof Group, an investment firm owned by Fahrenheit, the group that successfully acquired Celsius in May.
The winner may be chosen in December and is expected to relaunch FTX 2.0 after completing bankruptcy procedures, likely in the coming year.
The hopes for reviving the exchange that once held the second position in the crypto market are strengthening.
#etf #BTC #Prediction
