- False ETF news gives bitcoin a boost: Crypto markets were frenzied on Tuesday after Cointelegraph posted an unconfirmed tweet that the SEC had approved a spot bitcoin ETF. Bitcoin prices jumped over $2,000 USD in minutes before the news was deemed false.
- GBTC discount to NAV continues to tighten: The discount between shares of Grayscale’s Bitcoin Trust (GBTC) and the net asset value of the fund is at its lowest level in almost two years. After starting the year at a nearly 50% discount, GBTC’s discount has moved to ~13%, reflecting increased expectations that a bitcoin spot ETF will be approved in the near future.
- Uniswap introduces 0.15$ swap fee: The move was described as an effort to “sustainably fund operations.” UNI is trading about even over the past seven days following the news.
- The European Central Bank moves closer to a digital euro: The bloc’s central bank announced that it had moved from the investigation phase to the preparation phase of its digital euro project. ECB president Christine Lagarde tweeted that they “envisage a digital euro as a digital form of cash that can be used for all digital payments.”
- Treasury yields continue upward trajectory, and Powell sees continued strength in the US economy: US treasury yields have continued to put pressure on equities, with the 10-year treasury touching 4.98% for the first time since 2007. Fed Chair Jerome Powell suggested that the continued strength of the US economy may warrant further tightening, but didn’t foreshadow an immediate policy shift.
🏖️ Topic of the Week: Liquidity Pools
⏭️ Read more here