Hubbis and Independent Reserve bring you this week's Crypto News and Market Trends - SEC's Approval of Ethereum-based ETFs Emerges as a Key Catalyst
Increased volatility in the crypto market has generally resulted in positive price action. The SEC's approval of Ethereum-based ETFs by VanEck, Bitwise, and ProShares has been a key positive driver.
A mixed outlook as the U.S. Congress has only temporarily avoided a government shutdown, and U.S. 10-year Treasury yields have risen, stirring concerns in global credit markets.
The week will feature interest rate decisions from the Reserve Bank of Australia and New Zealand, as well as U.S. manufacturing and service data, and U.S. employment figures.
On the OTC desk, layer 1 cryptocurrencies, particularly ETH and SOL, have seen a surge in trading activity and performance, aligned with the positive crypto market sentiment.
Read this week's full market update here.