Bitcoin crashed from almost $59,000 to $52,000 in one hour on Sunday, triggering record numbers of liquidations worth almost $10 billion. Analysts suspect a hash rate crash triggered the bitcoin price crash.
While gaining exposure to Ethereum in the U.S. is still tricky for institutional investors, three Ethereum exchange-traded funds (ETFs) in Canada have now been approved. Purpose Investments, Evolve ETFs, and CI Global Asset Management were all approved by Canadian regulators to launch Ethereum-backed ETFs on Friday.
The Vice Governor of the People’s Bank of China (PBOC) has said the country views bitcoin and stablecoins as crypto assets not currencies and would class them as investment alternatives. He said that China may need regulation to change their policies to “prevent the speculative nature of such assets [from creating] any serious financial stability risk.”
Top stories in the Crypto Roundup today:
- Bitcoin Price Crashes to 3-week Low Triggering Record Liquidations
- Canadian Regulators Approve Three Ethereum ETFs
- China’s Central Bank Vice Governor Regards Crypto as ‘Investment Alternatives’