Bitcoin and Ethereum ETFs Approved in Hong Kong, Germany’s Major Federal Bank Embraces Crypto for Institutional Players: Crypto News Digest by U.Today

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U.Today presents the top three crypto news stories over the past day.

Bitcoin and Ethereum ETFs officially approved in Hong Kong

Yesterday, April 15, several Bitcoin and Ethereum exchange-traded fund (ETF) applications received approval from the Hong Kong Securities and Futures Commission, according to reports from @WuBlockchain’s Twitter handle. The greenlit issuers include HashKey, Bosera Capital, and China Asset Management. Last week, there were rumors that these products could be approved as early as April 15 (Bloomberg reported sources familiar with the matter). In contrast to Hong Kong, spot Bitcoin ETFs have been approved in the U.S. since January, with BlackRock’s product attracting a massive $10 billion in assets within two months. However, the U.S. Securities and Exchange Commission (SEC) is yet to approve Ethereum ETFs, despite major players like BlackRock filing applications last year.

Germany’s major federal bank embraces crypto for institutional players

In simpler terms, Landesbank Baden-Württemberg (LBBW), Germany’s largest federal bank, has declared its intention to enter the cryptocurrency market by providing custody services for institutional and corporate clients in collaboration with Bitpanda exchange. The partnership aims to launch this service in the second half of 2024. LBBW’s move into digital assets could expand institutional investors’ access to cryptocurrencies, as Deutsche Bank is also working on a digital asset custody service, and its DWS unit is part of a group developing a euro-denominated stablecoin.

Shiba Inu (SHIB) skyrockets in multi-million whale activity, but there’s a twist

According to IntoTheBlock’s statistics, Shiba Inu whales bought an astounding 2.85 trillion tokens within a day. This surge is impressive considering the Large Holders Inflow metric, which experienced a substantial rise of 208%, totaling 1.37 trillion tokens. The worth of these tokens transferred to the crypto whales’ wallets was approximately $66.98 million. However, an unexpected turn occurred when it was revealed that this accumulation came hand in hand with a considerable disposal. In the same time frame, Shiba Inu whales sold over three trillion tokens, which outweighed their purchases and resulted in a net loss of 150 billion Shiba Inu tokens. The Large Holders Outflow metric surged by over 300%, while the Large Holders Netflow indicator moved into negative territory. Despite this setback, on-chain data suggests that Shiba Inu tends not to remain in the red for an extended period.

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2024-04-16 18:33