Major cryptocurrencies were trading mixed on Monday evening, even as demand for Bitcoin exchange-traded funds (ETF) remained strong. Last week, these ETFs attracted $2.4 billion, out of the total $2.45 billion that poured into digital asset investment products.
What Happened: However, Bitcoin prices fell from $52,000 to hovering around the $51,000 mark amidst decreased trading volumes compared to the weekdays. Now, attention may shift towards Ethereum, the second-largest cryptocurrency, as broker Bernstein emphasized in a research report.
Ethereum is “probably the only other digital asset likely to get a spot ETF approval by the SEC,” the report said. Bernstein has suggested that the likelihood of ETH spot ETF approval by May stands at approximately 50%, with a near-certain probability of approval within the next 12 months.
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The global cryptocurrency market cap now stands at $1.95 trillion, showing a 0.42% increase in the past 24 hours.
Futures linked to the S&P 500 ...