Regulation
Spot Ether ETFs Generate Over $1 Billion in Trading Volume; Ferrari to Accept Cryptocurrency Payments in Europe | Video
Spot Ether ETF Sees $1 Billion in Trading Volume, and Now You Can Buy a Ferrari with Cryptocurrency in Europe You’re watching Coin Desk every day. I’m your host, Jen Sani Investors traded more than $1 billion worth of shares of the newly launched Spot Ether ETF S in the US on the first day it was available, according to Bloomberg data. According to a tracker by SOO Value, there was a net inflow of $106.7 million, with the bulk of the outflows coming from Grace Scale’s Ethereum Trust, which saw an outflow of $484 million. Black Rock’s ishares Ethereum Trust ETF saw the largest inflow at $266.5 million, followed by bit Wise’s Ethereum ETF at $204 million, with the overall trading volume reaching a high of $1.077 billion. Funds account for about 20% of spot trading volume. The Bitcoin ETF S had a big day on its January launch, defunct Bitcoin exchange Mount Gox moved a new batch of Bitcoin to new wallets on Wednesday and that could dampen the chances of a price rally as sentiment remained muted. Arkham. Data shows that Mount Gox moved about $3 billion worth of Bitcoin between wallets and of that $130 million was sent to crypto exchange Bits Stamp. The cryptocurrency movement echoes yesterday’s as Mount Gox refunds customers affected by a hack 10 years ago, Bitcoin prices remain stable and Mount Gox still has over $6 billion worth of Bitcoin to distribute. And you can now buy a Ferrari with crypto. The Italy-based luxury sports car maker will expand its provision for cryptocurrency payments to Europe by the end of July. According to a Reuters report, Ferrari began accepting cryptocurrencies in the United States last October as part of a partnership with Bitpay, Bitcoin, Ether, and US DC where the tokens accepted this popularity of cryptos as an investment tool. It remains relatively rare for a large company to accept it as a means of payment. In a press release cited by Reuters, Ferrari said the expansion of its program to Europe was aimed at better meeting the evolving needs of its customers when it comes to quoting. That’s all for Coin Desk Daily, get more updates on Coin Desk.com and see you next time.