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Crypto News Digest by U.Today
Valeria Blokhina
Take a look at what’s happening in the crypto industry with U.Today’s news roundup!
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U.Today presents the top three crypto news stories of the past day.
Bitcoin and Ethereum ETFs officially approved in Hong Kong
As reported by @WuBlockchain official approval of the Hong Kong Securities and Futures Commission. Among the issuers approved by the regulator were HashKey, Bosera Capital and China Asset Management. Last week, Bloomberg reported that the products could be approved in Hong Kong as early as Monday, April 15, citing people familiar with the matter. As a reminder, in the United States, spot Bitcoin ETFs were approved in January this year, with BlackRock’s product enjoying record success attracting $10 billion in assets in less than two months. However, when it comes to Ethereum ETFs, the US SEC is still hesitant to approve such products, although BlackRock and other big names filed to launch Ethereum spot ETFs last year.
Leading German Federal Bank Adopts Crypto for Institutional Players
Germany’s largest federal bank, Landesbank Baden-Württemberg (LBBW), recently revealed his plans to begin offering cryptocurrency custody services to institutional and corporate clients, Bloomberg reports. This will be done in partnership with the Bitpanda exchange. As announced by the two companies on Monday, April 15, they will begin to realize their plans in the second half of 2024. The entry of Germany’s largest federal bank into the cryptocurrency space is expected to provide institutional investors with a better access to digital assets. LBBW is not the only German bank actively moving into crypto assets; Deutsche Bank is expanding its digital asset custody service and its DWS unit is part of a consortium developing a euro-denominated stablecoin.
Shiba Inu (SHIB) Soars With Multi-Million Whale Activity, But There’s a Problem
According to data provided by IntoTheBlock, yesterday, Shiba Inu whales managed to accumulate 2.85 trillion tokens in just 24 hours. This jump is particularly notable given the measure of large holder inflows, which shows a 208% increase over the previous day’s holdings, reaching 1.37 trillion tokens. The estimated value of the inflow into the wallets of these crypto whales is $66.98 million. However, the plot took a twist when it became clear that this accumulation peak was accompanied by a significant capital outflow. Over the same period, these SHIB whales have offloaded over three trillion tokens, with elimination exceeding accumulation and a net decrease of 150 billion Shiba Inu tokens in the last 24 hours. The measure of outflows from large holders increased by more than 300% throughout this period, while the measure of net flow from large holders fell into negative territory. Yet even with this setback, on-chain data indicates that Shiba Inu generally does not stay in the negative zone for long.
About the Author
Valeria Blokhina
Valeria is the Community Manager at U.Today. She is passionate about crypto and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news from the world of crypto and blockchain.