ETF Securities- The latest Crypto update
In partnership with 21Shares, one of Europe’s leading cryptocurrency providers, ETF Securities presents the latest Crypto Market Monitor to provide insight and analysis around the recent moves in the crypto market.
Kanish Chugh, Head of Distribution at ETF Securities notes, “The crypto market’s price action lingered in a sideways movement this week, stalling last week’s sell-off. Bitcoin hovered around the $40K critical support level, while Ethereum experimented with the $4K level to close the week with a mere 1% move to both sides. As we have been suggesting over the multiple previous newsletters, the risk-on asset class is now entirely at the mercy of the global macro-outlook as denoted via BTC’s continued correlation with the stock market.
“We are also excited to announce that after many months of anticipation, ETF Securities will be launching Australia’s first spot Bitcoin and Ethereum ETFs next Wednesday 27th April on Cboe Australia. EBTC and EETH will give investors a secure and accessible way to trade two of the leading cryptocurrencies via the regulated structure of an ETF.”