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Goldman Sachs, ETH ETF S-1 Filings and More
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The crypto walk is preparing for a possible turnaround in July, which will be fueled by several crucial factors. Here are five major indicators to watch:
Potential Federal Reserve Interest Rate Cut
The Federal Reserve could cut interest rates as early as September, according to recent rumors, and again in December. markets Oil prices will gain liquidity from these declines, analysts say, and cryptocurrencies could benefit from another positive CPI.
Ethereum ETF Form S-1 Filing Progresses
Ethereum ETF issuers recently received their S-1 forms from the SEC, with a request for minor changes. Before being approved, these issuers must respond to the criticism and resubmit their filing, passing at least one more round of review. This is a result of attracting more institutional investors.
Related
CFTC Chairman’s Position on Cryptocurrency Regulation
According to recent comments from the CFTC Chairman, between 70 and 80% of cryptocurrencies are not securities, underscoring the need for the CFTC to regulate these assets under the Commodities Exchange Act. This position could end the protracted debate over whether cryptocurrencies are better classified as commodities or securities, providing much-needed regulation clarity and strengthen investor confidence.
Goldman Sachs’ Tokenization Plans
By the end of the year, Goldman Sachs plans to launch three tokenization initiatives, with a focus on the US and European markets. These initiatives, led by tokenization and crypto enthusiast Mathew McDermott, have the potential to attract major institutional interest and investment in the cryptocurrency sector.
JPMorgan’s optimistic outlook on Bitcoin
In a report released today, JPMorgan predicts a bullish rally in Bitcoin in August. Despite recent market downturns, the bank remains optimistic about Bitcoin Outlook. The analysis highlights that downward pressure is likely to ease as the recent wave of cryptocurrency liquidations subsides. To better reflect the current state of the market, JPMorgan also lowered its estimate of year-to-date net cryptocurrency flows from $12 billion to $8 billion.