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A positive June for NCI, crypto volume recovers, and CBDC’s take off

The Hash Insider

The Nasdaq Crypto IndexTM finished the month on a positive note, up 0.9% with ether (ETH) leading the way with a 0.9% increase while bitcoin (BTC) remained relatively flat with a 0.1% increase. The NCITM ended June up 9.5%, led mostly by BTC’s 12.2% performance. June started off negative over news of SEC suing Coinbase and Binance, but the NCITM recovered toward the end of the month after BlackRock and other large institutional investors filed for spot bitcoin ETFs in the US. The NCITM managed to finish the month positive despite a slight downturn after the SEC described the ETF filings as inadequate. 



Bitcoin dips after the SEC asks for more information on spot BTC ETF filings 


According to the Wall Street Journal, the SEC believes the recent filings to launch a spot bitcoin ETF are inadequate. The news pushed the price of BTC down $1,000, before it recovered shortly thereafter. Despite the drop, this could be interpreted as a potentially favorable development since, instead of an outright denial, it offers clear instructions to the filers regarding the specific amendments they should make to their filings.


Digital asset weekly inflows highest in a year


Crypto investment products added $199 million last week, the biggest weekly inflows since July 2022 according to a report from CoinShares, which also found that 94% of the total flows went to Bitcoin.


HSBC Hong Kong launches support for Bitcoin and Ethereum ETFs


HSBC Hong Kong customers can now trade Bitcoin and Ethereum futures Exchange Traded Funds (ETFs), broadening access to crypto asset derivatives. HSBC is the largest bank in Hong Kong and the first lender in Hong Kong to allow its customers access to crypto ETFs. The ETFs, which are traded as securities, were listed on HSBC Hong Kong’s so-called “Easy Invest” mobile app on Monday.


Study shows 130 countries exploring central bank digital currencies


The widespread interest in CBDCs suggests potential future shifts in monetary systems and financial infrastructures worldwide and could have significant implications for the traditional financial sector, digital asset markets, and investment strategies.



Crypto ATM firm Bitcoin Depot will go public on Nasdaq starting July 3


This piece of news highlights the increasing mainstream acceptance and integration of cryptocurrency-related companies in traditional financial markets.



From Hashdex:


In his latest Notes from the CIO, Samir Kerbage writes about why the BlackRock news is so important for investors.   



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