Bitget Futures Market Update: Nearly 40 million dollars in long positions have been liquidated in the past 24 hours

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Bitget2024/06/14 05:54

By:Bitget

Ether ETFs Should Be Fully Approved by September, Says SEC Chair Gensler

The final approvals for exchange-traded funds (ETFs) trading Ethereum's ether (ETH) should be finished this summer, U.S. Securities and Exchange Commission Chair Gary Gensler told senators in a budget hearing on Thursday.

Gensler told a subcommittee of the Senate Appropriations Committee in a hearing justifying the market regulator's budget that the process is "working smoothly" after the initial approval of a group of ETFs. The agency had previously granted the initial round of applications, but he said the final registration requirements – filings known as S-1s – are now being handled at the "staff level."

Once those filings are approved, the new ETFs can be listed, opening the wider markets to easy-to-trade funds that hold actual ether, much like the earlier establishment of bitcoin spot ETFs that hold (BTC). The SEC had initially blocked the effort for bitcoin ETFs until a federal court ruled the agency was mishandling the matter, and Gensler has said the SEC has since been following that decision and allowing them.

When asked directly whether ETH is a commodity, Gensler didn't respond with a yes or no, maintaining the uncertain position his agency has held on that asset. At the same hearing, when asked whether it's a commodity, Commodity Futures Trading Commission (CFTC) chief Rostin Behnam responded, "Yes."

Source: CoinDesk

Futures Market Updates

As Bitcoin dipped below $67K, nearly $40M in long got liquidated in the past 24 hours.

Bitcoin Futures Updates

Total BTC Open Interest: $34.84B (-1.17%)

BTC Volume (24H): $57.96B (-22.61%)

BTC Liquidations (24H): $39.46M (Long)/$6.35M (Short)

Long/Short Ratio: 49.12%/50.88%

Funding Rate: 0.0086%

Ether Futures Updates

Total ETH Open Interest: $15.19B (-1.82%)

ETH Volume (24H): $24.99B (-20.43%)

ETH Liquidations (24H): $25.70M (Long)/$5.40M (Short)

Long/Short Ratio: 48.96%/51.04%

Funding Rate: 0.0103%

Top 3 OI Surges

CTK: $4.87M (+118.32%)

MON: $1.56M (+49.55%)

BLZ: $23.93M (+28.55%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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