Ethereum ETF Wind: Historic Day Is Very Near

#bitcoin #ethereum #ethereumetf
00:00 Intro
00:07 Ethereum ETF Wind
00:50 Bitcoin exceeded 70 thousand dollars
1:18 Listing statement from Binance exchange
1:47 Surprise resignation at Grayscale
2:20 Crypto startup investments increased

The cryptocurrency market has suddenly shifted, and significant surges have been occurring since yesterday. Behind these surges are developments related to Ethereum ETFs. Bloomberg analysts announced last night that the likelihood of approval for the applications had increased from 25% to 75%. Subsequently, it emerged that the U.S. Securities and Exchange Commission requested exchanges to swiftly update their applications. While it was previously anticipated that Ethereum ETFs would be rejected, the prevailing view now is that they will be approved. Thursday will be a critical day for this. The agency will announce its decision no later than Thursday.

Bitcoin surpassed $70,000 after approximately 40 days. The number one cryptocurrency touched $72,000 in the early hours of the new day. Meanwhile, Ether experienced a more significant surge. Expectations of ETF approvals propelled Ether above $3,700. The total market capitalization of the cryptocurrency market also exceeded $2.6 trillion.

The world's largest cryptocurrency exchange, Binance, announced its consideration to list cryptocurrencies with high community interest but not necessarily high market capitalization. All projects in the industry will be able to apply for this listing. Projects will be required to meet certain conditions, such as having an organic user base, allocating a significant portion of tokens for the community, and having innovative technology or design within the framework of innovation.

Grayscale's CEO Michael Sonnenshein has resigned just days before the Ethereum ETF decision. Having worked at the company since 2014 and assuming the CEO position in early 2021, Michael Sonnenshein stated, "I am leaving Grayscale with a great sense of gratitude. We have achieved great things. We will continue to rise to the moon." Peter Mintzberg, who is responsible for asset management at Goldman Sachs, one of the world's largest banks, will replace Sonnenshein.

Crypto startup investments continued to rise in the second quarter in a row. According to the financial data and software company PitchBook's report, investments in crypto startups reached $2.4 billion in the first quarter of 2024, marking a 40% increase compared to the previous quarter. The $106 million funding for Together AI startup was the largest investment of the first quarter. With this funding, Together AI reached a total valuation of $1.1 billion.