The SEC&#8217;s delay in approving in-kind processes for crypto ETFs may slow innovation and market efficiency in the digital asset space. The post SEC pushes back decision on in-kind creations and redemptions for BlackRock Ethereum ETF appeared first on Crypto Briefing.

SEC pushes back decision on in-kind creations and redemptions for BlackRock Ethereum ETF

Binance founder Changpeng Zhao’s investment firm is backing the creation of a 
company that will buy and hold BNB with plans to go public in the US.

Binance founder’s family office backs BNB treasury firm eyeing IPO

The ongoing legal issues surrounding Ben Armstrong highlight the potential 
reputational risks and legal challenges for crypto influencers.
The post Ben &#8216;BitBoy&#8217; Armstrong faces six charges for harassing phone calls, 
released after arrest appeared first on Crypto Briefing.

Ben ‘BitBoy’ Armstrong faces six charges for harassing phone calls, released after arrest

Bitcoin has been showing notable correlation to the stock equities recently, 
but data shows Ethereum is charting a more independent path. Bitcoin &amp; 
Ethereum Showing Different Degrees Of Correlation To Other Assets In a post on 
X, the institutional DeFi solutions provider Sentora (previously IntoTheBlock) 
has talked about how the latest Correlation Matrix has looked between the two 
largest cryptocurrencies, Bitcoin and Ethereum, and traditional markets. The 
&#8220;Correlation Matrix&#8221; here refers to an indicator that tells us how closely 
tied together the prices of two given assets currently are. When the value of 
this metric is positive, it means the assets are reacting to moves in each 
other by moving in the same direction to some degree. The closer the metric is 
to 1, the stronger the relationship. Related Reading: Bitcoin &amp; Stablecoin 
Reserves Diverge On Binance: Liquidity Explosion Brewing? On the other hand, 
the indicator being under the zero mark implies there is a negative 
correlation between the two prices. That is, they are moving in opposite 
directions. For this side of the scale, the extreme point is -1. Naturally, 
the Correlation Matrix showing a value exactly equal to zero suggests there is 
no correlation whatsoever between the assets. In statistics, the two variables 
are said to be &#8216;independent&#8217; in this case. Now, here is the table shared by 
Sentora that shows how the Correlation Matrix of Bitcoin and Ethereum stands 
with respect to some traditional markets: As is visible above, the index that 
Bitcoin and Ethereum have the strongest positive correlation to is DAX. That 
said, the Correlation Matrix stands at 0.46 for ETH, meaning that while some 
correlation does exist, it&#8217;s not too intense. This isn&#8217;t the case for Bitcoin, 
which has the indicator sitting at 0.85, indicating its price is pretty in 
tandem with DAX. Likewise, BTC has a notable correlation to other stock market 
indices, with a metric value of 0.7, 0.68, and 0.69 for the Russel 2000, S&amp;P 
500, and Dow Jones Industrial Average, respectively. In contrast, Ethereum is 
almost fully independent from these indices, with the indicator standing quite 
close to zero for each of them. For US Dollar Index and VIX Index, the last 
two markets listed in the table, the Correlation Matrix is inside the negative 
zone for Bitcoin. This means that the digital asset has actively been moving 
against these indices. Related Reading: Ethereum ETF Inflows Hit 8-Week 
Streak—Institutions Still Buying &#8220;Right now, the spotlight is on the U.S. 
Dollar Index (DXY): if geopolitical and macro tensions drag the dollar lower, 
that backdrop could create room for another leg higher in BTC,&#8221; notes the 
analytics firm. Just like with the stocks, Ethereum is displaying little 
correlation to DXY and VIX, further reinforcing that the cryptocurrency has 
been following a trajectory of its own recently. BTC Price Bitcoin is mounting 
another bullish push as its price surges to $109,400, but it remains to be 
seen whether its fate will be any different from the weekend move. Featured 
image from Dall-E, IntoTheBlock.com, chart from TradingView.com

Bitcoin Moving With Stocks, But Ethereum’s Correlation Is Fading

As tokenized assets gain traction and Wall Street accelerates blockchain 
adoption, the SEC is drawing a clear line: compliance will decide who wins the 
digital securities race. SEC’s Peirce Urges Compliance as Tokenization Models 
Evolve Investor enthusiasm for tokenized assets is climbing, but regulators 
are signaling that compliance—not just innovation—will define the market’s 
next phase. […]

SEC Commissioner: Tokenization Promising, but No ‘Magic’ Exemption From Rules

On Wednesday afternoon, Bitcoin (BTC) surged to a remarkable all-time high 
(ATH) of $112,022, breaking free from its previous consolidation phase and 
lower resistance levels. Bitcoin Rally Faces Critical Test John Glover, the 
chief investment officer at crypto lending platform Ledn and a former managing 
director at Barclays Investment Bank, noted that the recent rally appears to 
be a retest of the previous all-time high set on May 22, which encountered 
selling pressure. As some investors opted to take profits, notable publicly 
traded companies, including Trump Media &amp; Technology Group and GameStop, have 
announced their intentions to purchase Bitcoin to bolster their treasuries. 
Related Reading: Analyst Predicts 50% “Moonshot” For XRP Price If This Line 
Breaks Glover emphasized that the competition among these companies to 
accumulate Bitcoin could significantly impact market dynamics, given that the 
cryptocurrency&#8217;s popularity among publicly traded companies appears to be 
growing. However, the sustainability of Bitcoin&#8217;s rally largely hinges on 
macroeconomic conditions and developments in trade negotiations. Sid Powell, 
CEO of crypto asset-management firm Maple, highlighted that any setbacks in 
trade discussions before President Donald Trump’s August 1 deadline could pose 
challenges for Bitcoin&#8217;s price movement. Conversely, if trade negotiations 
progress and inflation continues to ease, the Federal Reserve (Fed) might 
consider cutting interest rates, which could further support Bitcoin’s upward 
trajectory. Scenarios For A Potential Breakout Toward $130,000 Market expert 
Doctor Profit recently took to social media, declaring that Bitcoin&#8217;s rally is 
just beginning. He confidently stated, &#8220;THE PARTY IS NOT OVER YET,&#8221; predicting 
a potential new all-time high soon. His analysis indicates a target range of 
$120,000 to $130,000 for this cycle. According to Doctor Profit, two potential 
scenarios could pave the way for this breakout. The first involves Bitcoin 
reaching the $113,000 to $114,000 range, followed by a correction to the 
$92,000 to $93,000 level, which aligns with a major liquidity pool and the CME 
gap. A rebound from this lower range could set the stage for a rapid ascent 
toward the $120,000 mark. Related Reading: Pundit Says XRP’s Rise To $1,000 
Will Happen A Lot Sooner Than Anticipated The second, more aggressive scenario 
suggests that Bitcoin could break through the $113,000 to $114,000 barrier and 
continue its upward momentum without revisiting lower liquidity levels. In 
either case, the $113,000 to $114,000 range is critical, as the market&#8217;s 
reaction to this level will significantly influence the speed and direction of 
Bitcoin&#8217;s next leg. When writing, BTC has retraced back toward $111,422, 
attempting to make this level its new support floor for further price 
appreciation. Featured image from DALL-E, chart from TradingView.com