Ethereum Whales Go on a Buying Spree as ETH Price Drops – Blockonomi
Ethereum, the second-largest cryptocurrency by market capitalization, has faced a turbulent period, with its price plummeting to levels not seen in nearly three years against Bitcoin.
TLDR
The recent price drop has been significant, with Ethereum’s value against Bitcoin (ETH/BTC) falling to around 0.048 BTC, a level last witnessed in May 2021.
Hong Kong ETFs
Hong Kong has set new precedents as the first jurisdiction to permit trading in Bitcoin and Ethereum cash exchange-traded funds (ETFs).
The Securities and Futures Commission (SFC) of Hong Kong has granted permission to several prominent financial corporations, including China Asset Management, Bosera Capital, and HashKey Capital Limited, to establish these ETFs.
While the US Securities and Exchange Commission (SEC) is currently reviewing similar applications, Hong Kong has taken the lead in this space.
