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Crypto in politics, world’s largest bank notes digital asset demand, and ether ETFs next month?

The Hash Insider

The crypto markets experienced a red week, continuing a three-month sideways consolidation after bitcoin (BTC) reached a new all-time high of $73,200 in mid March. BTC fell 4.6%, ether (ETH) fared relatively better with a 2.9% correction, and the  Nasdaq Crypto IndexTM (NCITM) declined by 4.3%. Despite the negative performance, BTC’s market capitalization briefly surpassed the combined market caps of the world's top 3 banks last week.



Bloomberg analyst says ETH ETFs could launch within weeks

Bloomberg analyst Eric Balchunas moved up his estimate for the launch of spot ETH ETFs in the US to July 2nd. The updated estimate stems from his information that US Securities and Exchange Commission (SEC) staff sent only minor comments to issuers.


World’s largest bank calls ether “digital oil” and bitcoin “digital gold”

The Industrial and Commercial Bank of China (ICBC) reportedly called BTC “digital gold” and ETH “digital oil,” praising the two most valuable crypto assets in a report that states there is strong market demand for digital assets, another sign of the institutional acceptance of crypto as an investable asset class.


Biden officials to attend Bitcoin roundtable 

US Congressman Ro Khanna, a California Democrat, is hosting a Bitcoin roundtable with key congressional officials in DC that will be attended by officials from the Biden administration. Khanna's office described the event as "the most significant meeting between policymakers and innovation leaders in blockchain to date." This news follows Republican candidate Donald Trump's public advocacy for BTC and crypto-friendly policies, with Trump stating last week that he wants “all remaining bitcoin to be ‘made’ in the USA.


From Hashdex:
Notes from the CIO - Farewell, ICQ: What History Teaches Us About Innovation and Impermanence

Hashdex’s CIO Samir Kerbage reflects on the end of ICQ and what it teaches about innovation and impermanence while comparing early internet applications to today's blockchain technology. Kerbage highlights the need for adaptation, innovation and when it comes to investments, a diversified strategy in emerging technologies.


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