GENIUS Act Boosts ETH’s Role in Tokenized Finance, Wall Street Expert Says
Market Overview
In today's market update:
- ETH is trading above $2500 following the U.S. Senate's passage of the GENIUS Act, which supports regulatory clarity for cryptocurrencies.
- Vivek Raman of Etherealize highlights increasing institutional interest in ETH for asset tokenization and as collateral.
- Ethereum’s role as a settlement layer is gaining traction among investors due to its regulatory clarity.
- VanEck's Solana ETF has been listed on the DTCC, signaling readiness for electronic clearing; however, Canada leads with earlier ETF launches.
- OKX has launched regulated exchanges in Germany and Poland, offering various crypto services with Euro onramps.
Market Movements
- BTC: Brief dip to $103,396 amid geopolitical tensions; rebounded with institutional ETF buying.
- ETH: Traded between $2,460 and $2,800, showing resilience despite resistance levels.
- Gold: Remains below $3,400 as traders await Fed guidance amid ongoing geopolitical tensions.
- Nikkei 225: Down 0.15% as regional tensions impact investor sentiment.
- S&P 500: Closed down 0.84% at 5,982.72, reflecting ongoing conflict concerns.