The odds of the Digital Asset Market Clarity Act’s (CLARITY) passage are dwindling as the US Senate is scheduled to begin summer recess at the end of this week, threatening another leg down for cryptocurrency valuations, according to wealth manager Bernstein.Bernstein said that the Senate’s failure to pass the legislation could trigger an immediate negative “industry knee-jerk reaction,” which may result in another leg down for Bitcoin and the broader crypto market.“From a tactical standpoint, we expect the crypto market to bottom and start showing momentum towards late Q3 and early Q4 prior to the mid-terms,” Bernstein analysts wrote in…

Hashdex said it will liquidate its eponymous spot-price Bitcoin exchange-traded fund this month, distributing the cash to all remaining shareholders and selling the fund’s roughly 225 BTC holdings.In a filing on Monday, the fund issuer said the decision was made after evaluating factors including trading liquidity, operating costs and investor interest. The 200,000 shares, which have traded on NYSE ARCA under the DEFI ticker since March 2024, have net assets of $14.25 million, according to the fund’s website.Late to the game, which saw the first of 10 other competing BTC ETFs debut months ahead of it, analysts saw opportunity at…

AI & Crypto

Read More

Politics

Don't Miss!