Asset manager Canary Capital is close to having its Litecoin and HBAR ETFs approved, but launch is on hold due to US government shutdown. Amendments filed with 0.95% fees for LTCC and HBR tickers. Analysts optimistic about approval, uncertainty due to shutdown. Altcoin ETF approval could spark new rally. (50 words)
Canary’s 0.95% fees for Litecoin and HBAR ETFs are higher than spot Bitcoin ETFs, but not uncommon for new niche areas. Eric Balchunas sees fee as normal for new ETF-ed areas. If successful, competitors may offer cheaper products. Companies still filing for new 3x leverage ETFs despite shutdown. (50 words)
US government shutdown delays approval of new crypto ETFs. SEC supposed to decide on 16 crypto ETFs in October, new listing standards could expedite approvals. Shutdown leaves everything in limbo, deadlines pass without action. SEC operating with skeleton crew. Magazine: Hong Kong not a loophole for Chinese crypto firms. (50 words) 1. The stock market saw a sharp decline today, with the S&P 500 dropping 2.5% and the Dow Jones falling 3%. Investors are worried about rising inflation and the potential impact on interest rates.
2. The CDC announced that the Delta variant now accounts for 83% of COVID-19 cases in the US. This highly contagious strain is causing concern as cases continue to rise in several states.
3. In economic news, jobless claims fell to 360,000 last week, the lowest level since the start of the pandemic. Analysts attribute this drop to increased vaccination rates and the reopening of businesses.
4. The housing market remains hot, with home prices rising 13.9% in the past year. Low mortgage rates and high demand are driving this trend, making it a seller’s market in many areas.
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1. Bitcoin hits new all-time high of $60,000 as institutional demand continues to rise. The cryptocurrency has surged over 100% in 2021, fueled by companies like Tesla and Square investing in Bitcoin. Experts predict further growth as more institutions embrace digital assets.
2. Ethereum breaks $2,000 for the first time, reaching a market cap of over $230 billion. The second-largest cryptocurrency has gained momentum from the growing popularity of decentralized finance (DeFi) applications. Analysts anticipate Ethereum’s price to increase as DeFi projects expand.
3. NFT sales surpass $500 million in February, marking a new monthly record for the digital collectibles market. Artists, musicians, and athletes are increasingly turning to NFTs to monetize their work and engage with fans. The trend is expected to continue as more creators embrace blockchain technology.: Canary’s Litecoin, HBAR ETFs Ready to Launch After Shutdown