Top Three Crypto News Stories: Bitcoin and Ethereum ETFs approved in Hong Kong, Germany’s major federal bank embraces crypto, Shiba Inu skyrockets in whale activity
In the world of cryptocurrency, exciting developments are constantly unfolding. Here are the top three crypto news stories from the past day:
1. **Bitcoin and Ethereum ETFs approved in Hong Kong**: The Hong Kong Securities and Futures Commission has officially approved several spot Bitcoin and Ethereum exchange-traded fund (ETF) applications. Issuers such as HashKey, Bosera Capital, and China Asset Management have been given the green light. This news comes after the success of spot Bitcoin ETFs in the U.S earlier this year. However, the U.S. SEC is still hesitant to approve Ethereum ETFs despite interest from major players.
2. **Germany’s major federal bank enters the crypto space**: Landesbank Baden-Württemberg (LBBW), Germany’s largest federal bank, has announced plans to offer cryptocurrency custody services to institutional and corporate clients in partnership with Bitpanda. This move is expected to provide institutional investors with more access to digital assets, following in the footsteps of other German banks like Deutsche Bank.
3. **Shiba Inu (SHIB) experiences a whirlwind of activity**: Shiba Inu whales accumulated a staggering 2.85 trillion tokens in just 24 hours, with an estimated value of $66.98 million. However, this accumulation was followed by a significant outflow of over three trillion tokens, resulting in a net decrease of 150 billion SHIB tokens. Despite this setback, on-chain data suggests that Shiba Inu typically bounces back from negative trends quickly.
These stories highlight the dynamic nature of the cryptocurrency market and the ongoing evolution of digital assets. Stay tuned for more updates on the exciting world of crypto.
