Bitcoin maintained its position above the $30,000 mark, while several other top cryptocurrencies experienced gains.
The market was influenced by the approval of the first leveraged Bitcoin futures exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
Additionally, a whale selling Bored Ape Yacht Clubs in the NFT market garnered attention. Meanwhile, JPMorgan Chase & Co. introduced euro-denominated transactions on its blockchain-based payment system, JPM Coin.
Content:
- Bitcoin’s Price Movement: Bitcoin remained steady above $30,000, with a slight 0.35% dip, while its market capitalization increased by 15.44% over the past week.
- Ether’s Performance: Ether recorded a gain of 1.18%, reaching $1,898, and enjoyed a weekly growth of 10.32%.
- Top Cryptocurrency Performances: Polkadot led the way among the top 10 non-stablecoin cryptocurrencies, with a 3.28% rise in the last 24 hours and a weekly gain of 14.28%. Litecoin experienced a marginal decline of 1.48% within 24 hours but still achieved a 14.24% weekly increase.
- SEC Approves Leveraged Bitcoin Futures ETF: The U.S. SEC granted approval to Volatility Shares’ “2x Bitcoin Strategy ETF,” becoming the country’s first leveraged Bitcoin futures ETF. The fund is set to commence trading on June 27 and will track the S&P CME Bitcoin Futures Daily Roll index.
- Traditional Financial Institutions’ Entry: Notable financial institutions like BlackRock and WisdomTree have recently filed applications with the SEC to launch spot Bitcoin ETFs. This trend highlights the opportunity for traditional financial players to enter the crypto market.
- JPMorgan Launches Euro Transactions on JPM Coin: JPMorgan Chase & Co. unveiled euro-denominated transactions on its blockchain-based payment system, JPM Coin. This innovation allows clients to transfer euros or dollars instantly, outside traditional banking hours.
