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Vanguard, one of the world’s largest asset managers, continues to maintain its anti-Bitcoin sentiment, with the company recently stating that it would stop the purchase of Bitcoin futures exchange-traded funds (ETFs) on its platform. A Vanguard spokesperson confirmed to Axios that it will stop the purchase of all crypto-related products. The move will allow the asset manager to offer investors a “core set of products and services” in line with its policy and objectives.  You might also like: Robinhood opens all 11 spot Bitcoin ETFs for trading As previously reported by crypto.news, Vanguard announced that the trading of spot Bitcoin ETFs – which were recently approved by the U.S. Securities and Exchange Commission (SEC) – will be unavailable on its platform. In addition, the firm said that it had no plans to launch a similar product.  “In addition to spot Bitcoin ETFs not being available for purchase on the Vanguard platform, effective immediately, Vanguard...

Eth price is at risk of trading below a key price support and multiple data point point to a bearish outlook for the altcoin’s price. Ether (ETH) price experienced a 7% decline between Oct. 6 and Oct. 12, hitting a seven -month low at $1,520. Although there was a slight rebound to $1,550 on Oct. 13, it appears that investor confidence and interest in Ethereum are waning, as indicated by multiple metrics. Some may argue that this movement reflects a broader disinterest in cryptocurrencies, evident in the fact that Google searches for "Ethereum" have reached their lowest point in 3 years. However, Ethereum has underperformed the overall altcoin market capitalization by 15% since July. Ethereum” keyword search, globally. Source: Google Trends Interestingly, this price movement coincided with Ethereum's average 7-day transaction fees declining to $1.80, the lowest level in the past 12 months. To put this in perspective, just two months ago, these fees stood at over $4.70,...

The SEC has been delaying its decisions regarding spot Bitcoin ETFs in the U.S. However, this has not stopped companies from expanding their ETF offerings. Valkyrie received approval to convert its existing Bitcoin futures ETF to a two-for-one investment vehicle. Now, the company has started buying Ethereum futures contracts. The fund’s new strategy to combine BTC and ETH will formally come into force on Oct. 3, 2023. The ETF name will change to Valkyrie Bitcoin and Ether Strategy ETF. Nevertheless, the ‘BTF’ ticker will not see any updates. By adding Ethereum exposure to futures contracts, Valkyrie becomes the first U.S. ETF to provide investors exposure to Ether and Bitcoin futures contracts under the same umbrella. A spokesperson for the company revealed that Valkyrie was the first to get approval for the ETH Futures ETF , among other firms. This was because it “supplemented its prospectus and updated risk disclosures related to Ether futures .” ...

The recent approval allows Coinbase to join the ranks of major derivative exchanges in the United States, CME, and CBOE. The approval for America’s largest digital asset exchange, Coinbase, to offer crypto futures to U.S. retail customers is being seen as a major regulatory victory amid a heated battle with the country’s securities regulator. On Aug. 16, the National Futures Association (NFA) — designated by the U.S. commodities regulator as a registered futures association — granted Coinbase permission to operate a Futures Commission Merchant (FCM) platform. A loud signal Some crypto industry commentators see the approval as a significant regulatory victory for Coinbase and crypto, given the U.S. Securities and Exchange Commission has accused the exchange of avoiding the registration of its offerings. “If I were a judge I'd wonder why somehow [Coinbase] manages to register with the [CFTC] yet the [SEC] claims that Coinbase is unwilling to do the hard work to register," i...