The post Grayscale report: Mixed performance YTD, Ethereum in focus for Q3 appeared on BitcoinEthereumNews.com.

Grayscale has published a report to assist the community in enhancing its understanding of the crypto sphere. The idea is also to provide a reasonable roadmap to investors so that they can navigate their way around volatility. A summary of the report talks about why the focus will be on Ether in the third quarter and what kind of performance the market, in a broad sense, delivered in terms of year-to-date. Mixed performance in the crypto market despite Bitcoin gains Grayscale has highlighted a notable dip in the Crypto Sectors Market Index (CSMI) in its report. The Index has dropped by 3% YTD. Bitcoin, however, has gained 50%—except the gain dates back to the time the report was published or the observation was made ahead of drafting the piece.  BTC went up 102.39% last year and is now listed at $61,554.62 at press time. It further reflects a surge of 0.93% in the last 24 hours. The report indicates that a conflict in the CSMI and BTC’s gains indicates the lack of gains in the crypto market. The trend is potentially mirroring that of equities. Focus on Ethereum ecosystem expected in Q3 2024 The third quarter of 2024 is expected to kick off the trading of Spot Ether ETF. It is based on the final approval of S-1 registration forms by the US SEC. If approved, when approved, it will bring all the attention to ETH. The SEC has already approved 19b-4 and is likely to give a nod of approval to the final form by July 04, 2024. Approval of the ETF product will fuel interest in ETH and adoption of the digital asset. Depending on the size of the inflows, it will also support a higher valuation. Ethereum is below the $3,500 mark but could soon inch closer…

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Filed under: News - @ June 28, 2024 3:24 pm