CoinDesk

According to the head of digital assets at a leading asset management firm, the company has been actively educating pension funds, endowments, and sovereign wealth funds about the recently launched spot bitcoin exchange-traded funds (ETFs). These new investment products provide institutional investors with a regulated and convenient way to gain exposure to bitcoin, the world's largest cryptocurrency by market capitalization.

According to reports, traders have recently sold $80,000 worth of Bitcoin (BTC) call options set to expire at the end of May. The move is said to be an attempt to generate additional yield from their positions. Call options give the holder the right, but not the obligation, to purchase the underlying asset at a predetermined price within a specific time frame.

Patrick Gruhn, the former head of FTX Europe, has paid nearly $1.5 million for a gold pocket watch recovered from the body of the Titanic's richest passenger, according to a report by The Wall Street Journal.

On Wednesday, May 2nd, 2024, Fidelity's Bitcoin Trust (FBTC) experienced significant outflows, surpassing those of Grayscale's Bitcoin Trust (GBTC). This development could be seen as a worrying sign for cryptocurrency bulls, as it may indicate a shift in investor sentiment towards Bitcoin and digital assets.

Changpeng Zhao, the founder of cryptocurrency exchange Binance, received a four-month sentence in a legal case. This relatively short sentence is seen as a validation of the legal strategy employed by Zhao and his team in defending against the charges brought against him.

Expectations for a series of interest rate reductions by central banks in 2024 have been diminishing rapidly in recent weeks. This shift comes as economic data and inflation figures have shown unanticipated resilience, contradicting earlier projections of a cooldown. Policymakers now face the challenge of balancing efforts to control persistent price pressures while avoiding excessive tightening that could stifle growth.

EigenLayer, a highly anticipated restaking project, has unveiled a 43-page whitepaper detailing its new EIGEN token. However, the whitepaper has raised numerous questions from the community. It is important to note that much of the promised functionality outlined in the whitepaper may not be available when the token initially launches.

According to André Dragosch, the head of research at ETC Group, the summer months from June to September have historically seen lower investor returns compared to other times of the year. This observation highlights potential seasonal patterns in investment performance.

The U.S. Securities and Exchange Commission (SEC) appears unlikely to approve spot exchange-traded funds (ETFs) for Ether (ETH) in the near future. However, even if the SEC were to approve such ETFs, investors are advised to consider total return ETH investment products. These products would allow investors to benefit not only from the underlying price movements of ETH but also from staking rewards associated with the Ethereum network.

According to a report, the cryptocurrency is currently trading below the average spot exchange-traded fund (ETF) purchase price of approximately $58,000. This situation could potentially trigger liquidations in the market.