Grayscale and Coinbase met with the SEC on March 6 to address concerns about the conversion of Grayscale’s Ethereum Trust into a spot ETF.

Coinbase met with officials from the US Securities and Exchange Commission (SEC) this week to discuss rule changes for launching a spot Ethereum exchange-traded fund (ETF). According to a meeting transcript shared by the SEC, Coinbase provided five reasons for the application of a spot Ethereum ETF, including:

The Economist magazine in the UK wrote an article titled "What Will Happen After Bitcoin Soars", pointing out that Bitcoin is not rising in isolation: every asset is rising, stock markets around the world are approaching record highs, and so is the price of gold. Bitcoin's performance is better than most assets. The US Securities and Exchange Commission's approval of the establishment of a Bitcoin exchange-traded fund (ETF) makes it easier for ordinary investors to buy this encrypted currency. Bitcoin has existed for 14 years, and its concise mechanism for self-certification and verification of supply growth has never been compromised by hackers, meaning that this token will not disappear. With the establishment of ETFs, it is now obvious that Bitcoin has become an investment asset. The establishment of Bitcoin ETFs may have triggered a crazy and amazing surge, but the future price trend it predicts may be more slow and stable.

As of March 8th, after 40 trading days, the amount of Bitcoin held by BlackRock's Bitcoin ETF (IBIT) exceeded that of MicroStrategy. IBIT currently holds 196,089 BTC, while MicroStrategy holds 193,000 BTC.

According to data from @HODL15Capital showed that BlackRock's IBIT had a net inflow of $336 million yesterday, while the net inflow of Bitcoin spot ETF was $223 million yesterday. (Equivalent to the ETF purchasing about 3,280 bitcoins)

HODL15Capital data shows that Fidelity FBTC had a net inflow of $130 million yesterday, while GBTC had a net outflow of $303 million yesterday, and other spot ETF inflow data was generally realized. BlackRock IBIT needs to flow in more than $155 million to maintain the overall net inflow of spot ETFs.

1.Web3 gaming platform Portal launches BuildingBlocks Foundation2.Ordinals Developers: Block 832849 and the Runestone Matrix Inscription have been completed in partnership with OrdinalsBot and Marathon Digital3.OKX Ventures announces additional investment in Ethereum second-layer network Taiko4.This morning, a total of more than 300 million DOGE were transferred from Binance, worth more than $50 million.5.ARKB becomes the second largest holding of ARK Invest’s fund ARKW, with a weight of 9%6.FTX has started official liquidation and will compensate customers for Bitcoin at a price of US$16,8717.Ordinals developer: Runestone dug out the largest block in Bitcoin history today, and the next step in the airdrop process is about to begin.8.Bitcoin Core developer Peter Todd will attend the Bitcoin Asia conference9.Several fund Hong Kong subsidiaries will explore spot Bitcoin ETF applications10.FTX Claim Window Prices Bitcoin, Ethereum, and Other Products Below Market Prices

From April 26, the UK economic crime legislation will include civil recovery orders for confiscating crypto assets.

The Hong Kong Bitcoin spot ETF may be coming soon. Following the approval of the first Bitcoin spot ETF in the United States, Hong Kong financial institutions are accelerating their layout of virtual asset spot ETFs. It is reported that some fund company subsidiaries have submitted relevant applications, and some that have not yet submitted applications are also accelerating their preparations. China International Fund Management Co., Ltd. became the first institution to submit a Bitcoin spot ETF application to the Hong Kong Securities and Futures Commission. In addition, many Hong Kong institutions are eagerly anticipating this development. A representative from Huaxia Fund (Hong Kong) stated that Huaxia Hong Kong is actively studying the operation mechanism of virtual asset spot ETFs under the guidance framework of the Hong Kong Securities and Futures Commission, and is also exploring the development prospects of virtual asset ETFs in Hong Kong. Another fund company revealed that the Hong Kong Securities and Futures Commission had previously announced that it was ready to accept virtual asset spot ETF applications and that institutions had already submitted applications. In addition, some Hong Kong banks currently support customers trading virtual asset ETFs listed on the Hong Kong Stock Exchange, thus indirectly accessing the cryptocurrency market in a relatively safe manner.

According to OKX market information on March 3rd, Ethereum rebounded above $3400 and is now priced at $3402, with a 24-hour decline of 0.86%.