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U.Today – U.Today presents the three most important crypto news stories of the past day.
and ETFs officially registered in Hong Kong
As reported by @WuBlockchain Issuers approved by the regulator included HashKey, Bosera Capital and China Asset Management. Last week, Bloomberg reported, citing people familiar with the matter, that the products may be approved in Hong Kong as early as Monday, April 15. As a reminder, spot Bitcoin ETFs were approved in the US in January this year, with BlackRock's (NYSE:) product proving a record success, attracting $10 billion in assets in less than two months. However, when it comes to Ethereum ETFs, the US Securities and Exchange Commission (SEC) is still hesitant to approve such products, despite BlackRock and other big names filing to launch spot Ethereum ETFs last year.
Germany's largest Bundesbank relies on crypto for institutional players
As Bloomberg reports, Germany's largest federal bank, Landesbank Baden-Württemberg (LBBW), recently announced its plans to begin custody of cryptocurrencies for institutional and corporate clients. This is done in collaboration with the Bitpanda exchange. As the two companies announced on Monday, April 15, they will begin turning their plans into reality in the second half of 2024. The entry of Germany's largest Bundesbank into the cryptocurrency sector is intended to give institutional investors better access to digital assets. LBBW is not the only German bank actively involved in crypto assets; Deutsche Bank is expanding its digital asset custody service and its DWS unit is part of a consortium developing a euro-denominated stablecoin.
(SHIB) explodes in multi-million whale activity, but there's a twist
According to data provided by IntoTheBlock, Shiba Inu whales managed to accumulate 2.85 trillion tokens in just 24 hours yesterday. The increase is particularly notable when considering the Large Holders Inflow metric, which shows a 208% increase over the previous day's holdings to 1.37 trillion tokens. The estimated value of the inflow 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. During the same period, these SHIB whales dumped over three trillion tokens, with sales exceeding accumulation and a net decline of 150 billion Shiba Inu tokens in the last 24 hours. The Large Holders Outflow indicator rose more than 300% during this time, while the Large Holders Netflow indicator fell into negative territory. However, despite this setback, on-chain data suggests that Shiba Inu does not typically stay in negative territory for long.
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