Bitcoin rises due to US labour market & interest rate forecast
Over the past week, new figures on the US labour market and Federal Reserve minutes have affected markets. The labour market showed an increase in unemployment, indicating a cooling economy. At the same time, Federal Reserve minutes showed a cautious stance on interest rate hikes. This gives investors confidence that interest rates will remain stable which favours investment in digital assets. As a result, the price of Bitcoin rose slightly. This highlights how closely economic policy and labour market developments can affect the value of digital assets.
SEC delays plans for Solana ETFs
Plans to launch Solana exchange-traded funds (ETFs) in the US have been put on hold for the time being. This happened after the US regulator, the SEC, raised doubts about Solana’s legal status, which led to the withdrawal of the application for these ETFs. Despite this setback, the companies involved remain positive and hope for a more favourable outcome in the future. The debate on how to classify digital currencies like Solana poses a significant challenge to the approval of new financial products in the crypto market.
BlackRock’s Ethereum ETF achieves major milestone
BlackRock’s Ethereum exchange-traded fund (ETF) recently reached a major milestone by attracting more than $1 billion in investments. This makes it the first Ethereum ETF in the United States to cross this mark. The growing interest in Ethereum, through this ETF, shows that more and more investors are looking for ways to invest in cryptocurrency without having to buy it directly. This reflects a wider acceptance of crypto in traditional financial markets.
