The CEO will be replaced by Goldman Sachs executive Peter Mintzberg effective Aug. 15.

It was speculated that Gensler’s vote secured the launch of spot Bitcoin ETFs in January — and the same five commissioners are set to vote on Ether ETFs this week.

ETH price hit $3,100, backed by a favorable court ruling and increased network activity.

Grayscale’s Bitcoin ETF saw substantial investment outflows that surpassed the $66.9 million it had attracted just a few days earlier.

Revenue at Digital Currency Group (DCG) increased 51% to $229 million in the first quarter of 2024, driven by the rebound in crypto markets.

The withdrawal comes a little over two weeks before the United States securities regulator will be forced to make a decision on at least one spot Ether ETF application.

GBTC has recorded inflows for two consecutive days — bringing its total inflows to $66.9 million.

While some crypto observers are concerned about IBIT’s inflow halt, others say it’s more normal than the 71-day inflow streak it has recorded.

Amendments are slowing down the SEC in both cases, although observers say the agency is not really engaged with them.

BlackRock’s IBIT ETF could soon flip Grayscale’s GBTC, to become the largest ETF by Bitcoin holdings.

On the other hand, inflows into Bitcoin ETFs have been minimal, indicating declining investor engagement.

This week’s Crypto Biz explores the rise of tokenization markets, PayPal’s stablecoin, SushiSwap’s move to a “Labs model,” and the U.S. SEC’s decision to defer Bitcoin ETF options.

Grayscale’s Bitcoin ETF may have the highest fees and outflows compared to the competition, but chief Michael Sonnenshein said he’s happy to wait.

The April 8 delay decision impacts proposed options trading on spot Bitcoin ETFs on the New York Stock Exchange, namely those from Bitwise and Grayscale.

The proceeds from the sold tokens were used to buy existing portfolio components, according to Grayscale. Both ADA and ATOM are down year-to-date.

Many expect the commission to reach a final decision on spot Ether ETFs in May with approval or denial of a filing from VanEck.

Despite a net positive flow into the crypto market, the ETF demand seems to have slowed down compared to its peak in the first week of March.

The newly launched spot Bitcoin ETFs, excluding Grayscale have now amassed $35 billion worth of Bitcoin in just 54 days of trading.

Grayscale’s Bitcoin ETF has bled over $14 billion and it hasn’t lowered its industry-high fees, but ex-Wall Street analyst Jim Bianco gave two reasons why.

Important details concerning the creation and redemption procedures, cash and in-kind models, asset protection, loss prevention and custody “were figured out” in the spot Bitcoin ETF applications, the Grayscale executive explained.