Crypto Headlines Of The Week: Hong Kong BTC & ETH ETFs, FOMC, & SHIB Hog Attention
Release: 2024/05/05 13:34 Reading: 774
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=195332
The Cryptosphere's Vibrant Week: Market Shifts and Notable Developments
The dynamic realm of cryptocurrencies concludes another week marked by turbulent shifts, largely attributed to a confluence of noteworthy events. Bitcoin and Ethereum ETFs made their trading debut in Hong Kong, while the U.S. Federal Open Market Committee (FOMC) meeting captivated the crypto space. Shiba Inu also garnered significant attention with its ongoing cryptographic advancements.
Hong Kong Bitcoin & Ethereum ETFs Commence Trading
Hong Kong witnessed a major development this week with the launch of spot Bitcoin (BTC) and Ethereum (ETH) ETFs. Three service providers, Harvest Global Investments Ltd., HashKey Capital Ltd. and Bosera Asset Management (International) Co., are offering crypto ETF services in the region.
Despite a slow start with limited trading volume, the Asian crypto ETF market gained traction, reaching unprecedented levels. Notably, during the market volatility triggered by the FOMC meeting, Hong Kong surpassed the U.S. in weekly inflows into crypto ETFs.
Data from Arkham indicates that Bosera Hashkey currently holds 964 BTC and 4.29K ETH, further highlighting the growth of Hong Kong's BTC and ETH ETF landscape.
FOMC Meeting: The Impact
The third U.S. FOMC meeting of the year took place this week, with Fed Chair Jerome Powell maintaining interest rates unchanged for the sixth consecutive time. This announcement had a significant impact on the broader crypto market, leading to volatile price action across various tokens.
Shiba Inu's Cryptographic Advancements
Shiba Inu continued to attract attention with its ongoing cryptographic developments. The project's team has been actively working on various initiatives, including the development of a Layer-2 solution, the launch of a decentralized exchange, and the integration of NFTs. These advancements have contributed to Shiba Inu's growing popularity and community support.
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