U.Today – U.Today features the top three cryptocurrency news stories from the past day.
and ETFs officially approved in Hong Kong
As reported by @WuBlockchain Among the issuers authorized by the regulator are HashKey, Bosera Capital and China Asset Management. Last week, Bloomberg reported that the products could win approval in Hong Kong on Monday, April 15, citing people familiar with the matter. As a reminder, in the US, spot Bitcoin ETFs were approved in January this year, and BlackRock's (NYSE:) product was a record success attracting assets worth $10 billion in less than two months. However, when it comes to Ethereum ETFs, the US SEC is still hesitant to approve such products, despite BlackRock and other big names filing to launch Ethereum spot ETFs last year.
Germany's main federal bank adopts cryptocurrencies for institutional players
Germany's largest federal bank, Landesbank Baden-Württemberg (LBBW), recently revealed its 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 the two companies announced 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 greater access to digital assets. LBBW is not the only German bank actively delving into crypto assets; Deutsche Bank is building its digital asset custody service and its DWS unit is part of a consortium that is developing a euro-denominated stablecoin.
(SHIB) Soars on Multibillion-Dollar Whale Activity, But There's a Twist
According to data provided by IntoTheBlock, yesterday Shiba Inu whales managed to accumulate 2.85 billion tokens in just 24 hours. The jump is particularly notable given the large holder inflow metric, which shows a 208% increase from the previous day's holdings, reaching 1.37 trillion tokens. The estimated value of the influx into the wallets of these crypto whales is $66.98 million. However, the plot took a turn when it became clear that this increase in accumulation was accompanied by a significant outflow of capital. During the same period, these SHIB whales dumped over three trillion tokens, with deletion outpacing accumulation and a net decline comprising 150 billion Shiba Inu tokens in the last 24 hours. The large holder outflow metric increased by over 300% during this time, while the large holder net flow indicator fell into negative territory. However, even with this setback, on-chain data indicates that Shiba Inu generally does not stay in the negative zone for long.
This article was originally published on U.Today.
