Tue, April 16, 2024 at 12:07

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    Kang-hoon

    • Hello Annie.

    • Today, I'd like to discuss the performance of Ethereum and Bitcoin ETFs last week.

    • They were the best performers, surging by double digits despite the dip in crypto prices.

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  • Annie

    • Oh really?😮 That's surprising.

    • What could be the reason for this surge?

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    Kang-hoon

    • Well, analysts believe it might be due to investors gearing up for bitcoin halving and the Securities and Exchange Commission's decision on whether or not to approve a spot Ethereum exchange-traded fund.

  • Annie

    • Hmm...I see.

    • And which funds performed the best?

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  • ADward

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    Kang-hoon

    • Eight of the top 10 best performing ETFs were digital currency funds, largely led by Ethereum futures funds.

    • The ProShares Ether Strategy ETF (EETH) was the best performer, gaining 12% last week.

  • Annie

    • Wow!

    • That's impressive!😃 And what about Bitcoin ETFs?

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    Kang-hoon

    • The ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY) was up 11%.

    • However, it's important to note that both Ethereum and Bitcoin have been down over the past week.

  • Annie

    • Oh no!😔 That's not good news.

    • But why are they down?

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    Kang-hoon

    • The exact reasons are unclear but it seems unrelated to the SEC approval process for the novel spot ethereum exchange traded fund.

    • The SEC's next deadline is in May, but analysts are pessimistic about the vehicles' approval by the May deadline.

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  • Annie

    • I see... And what about the bitcoin halving?

    • When is it expected?

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    Kang-hoon

    • The bitcoin halving is expected this week.

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    • It's also worth noting that the price of bitcoin has risen over 50% this year so far, partially on the approval of 10 spot bitcoin ETFs in mid-January.

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  • Annie

    • That's interesting!😊 So, overall, would you say this news is good or bad for the market?

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    Kang-hoon

    • Well, despite the recent dip, the strong performance of Ethereum and Bitcoin ETFs suggests a robust interest in these assets.

    • So, I would say it's a positive sign for the market.

    • Upon comprehensive consideration, this news is perceived as a 😍Bullish.