U.Today – U.Today brings you the top three crypto news stories from the past day.
ETF officially approved in Hong Kong
As reported by the @WuBlockchain X handle, several spot Bitcoin and Ethereum exchange traded fund (ETF) applications received formal approval from the Hong Kong Securities and Futures Commission yesterday, April 15th. Issuers that have been given the green light by regulators include Hashkey, Vocera Capital and China Asset Management. Bloomberg reported last week that the product could be approved in Hong Kong as early as Monday, April 15, citing people familiar with the matter. As a reminder, a Bitcoin spot ETF was approved in the US in January of this year, and BlackRock's (NYSE:) product said he would amass $10 billion worth of assets in less than two months. It was a record success. However, when it comes to Ethereum ETFs, the US SEC remains hesitant to approve such products, even though BlackRock and other major companies applied to launch spot Ethereum ETFs last year.
Germany's leading Bundesbank adopts cryptocurrencies for institutional investors
Germany's largest federal bank, Staatsbank Baden-Württemberg (LBBW), recently announced plans to start offering crypto custody services to institutional and corporate customers, Bloomberg reports. This is done in partnership with Bitpanda exchange. As the companies announced on Monday, April 15, the companies plan to begin realizing the plan in the second half of 2024. The entry of Germany's largest Bundesbank into the crypto space is expected to give institutional investors even more access to digital assets. LBBW is not the only German bank active in crypto assets. Deutsche Bank is building a digital asset custody service, and its DWS division is part of a consortium developing a euro-denominated stablecoin.
(SHIB) Millions of whales' activity surges, but there's a twist
According to data provided by IntoTheBlock, Shiba Inu Whale was able to accumulate 2.85 trillion tokens in just 24 hours yesterday. This surge is particularly noteworthy given the influx of large holders indicators. It increased by 208% from the previous day’s holdings to reach 1.37 trillion tokens. The estimated value of inflows into the wallets of these crypto whales is $66.98 million. However, the plot changed when it became clear that this surge in accumulation was accompanied by significant outflows. Over the same period, these SHIB whales unloaded his over 3 trillion tokens, with disposal volumes exceeding accumulation, resulting in a net loss of 150 billion Shiba Inu tokens in the past 24 hours. The large holder outflow indicator increased by more than 300% over the period, while the large holder net flow indicator fell into negative territory. However, even with such setbacks, on-chain data shows that Shiba Inu typically does not stay in the negative zone for long.
This article was originally published on U.Today
