Tue, June 27, 2023 | 2:43PM ET

Leveraged BTC ETF Launches on CBOE, Prime Trust Placed in Receivership

Bitcoin continues to hover above $30k, gaining 2% over the last day. ETH has bucked its trend of underperforming BTC, with ETHBTC up 0.72% today, although its medium-term downtrend remains intact. The crypto market turned higher after news broke that Fidelity had potentially joined other large asset management companies in filing for a spot BTC ETF. While Fidelity previously filed for a similar ETF in 2021, the SEC rejected that effort last year. BCH and PEPE continue to outperform among the top 100 over the last week, with BCH benefiting from its listing on the institutionally backed EDX Market Exchange. PEPE has not had any specific catalyst behind its 70% move in the last week. After dropping over 80% from its peak, it has caught a bid as the market’s favorite meme coin of this cycle. Older meme coins DOGE and SHIB have largely underperformed BTC and the rest of this market in this rebound. The S&P and Nasdaq rose 1.1% and 1.6%, with continued momentum from tech and AI-related equities.

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