Crypto Market Pulse (15/01/2024)

US Spot Bitcoin ETFs begin trading; $7.69B volume in first two days. US inflation at 3.4% YoY in Dec 2023, above estimates. Circle, issuer of USDC, files for IPO.

Jan 15, 2024
Crypto Market Pulse

Weekly Market Index

Last week’s crypto market prices rose slightly by +1.81%. Volume increased by +31.69%  while volatility decreased by -10.48%.

Crypto.com Weekly Market Index

Chart of the Week

The first-ever US spot Bitcoin exchange-traded funds (ETFs) were approved last week by the Securities and Exchange Commission (SEC). The eleven ETFs started trading on 11 Jan 2024 and totaled US$7.69 billion in trading volume on the first two days of trading. Grayscale’s ETF had the largest share of the trading volume, followed by BlackRock and Fidelity.

Crypto.com spot BTC ETF Trading Volume

Weekly Performance

Bitcoin (BTC) dipped by -3.5% while Ethereum (ETH) rose +13.1%, respectively, in the past seven days. Price action for other selected top-cap tokens was positive.

Crypto.com Selected Top Cap Tokens Change

Selected key categories all rose in terms of market cap change in the past seven days.

Crypto.com Selected Categories Market Cap Change

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Authors

Research and Insights Team

Disclaimer

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