The demand for cryptocurrencies has been soaring in the past few years. As of writing, there are over 500 million crypto users globally; the number is expected to cross 800 million by the end of 2025.
As per claims, the spike in adoption and popularity is fueled by the variety and features offered by cryptocurrencies. Following the approval, ETFs (Exchange Traded Funds) have gathered tremendous traction and surged inflow in the market.
Most recently, the Financial Supervisory Commission (FSC) has announced that it has enabled professional investors to invest in various ETFs, including Bitcoin, leveraging re-entrustment methods.
Financial regulators have eased the ways of investing in cryptocurrencies, but they are constantly working to regulate the industry with favorable rules.
“Professional investors include professional institutional investors, high-net-worth investment legal persons, high-asset clients, legal persons or funds that are professional investors, and natural persons that are professional investors,” the release notes.
FSC strictly notes that “ Unless the client is a professional institutional investor, the client should sign a risk warning letter before the initial purchase before the securities firm can accept its entrustment.”
Earlier on September 19, 2024, Sumsub announced its partnership with Sygna to expand its presence in Taiwan. This collaboration will enable its crypto and FinTech clients to communicate with the Virtual Asset Service Providers (VASPs) in the Sygna ecosystem in Taiwan.
Earlier this year, the District Prosecutors Office based in the capital of Taiwan indicted over 30 individuals, including a lawyer, in a cryptocurrency fraudulent scheme. By defrauding the victims, the detained individual wiped out NT$800 million.
Other Crypto News Updates
In a recent announcement, Matrixport, a crypto service provider, noted that it has acquired Crypto Finance, a licensed crypto service provider in Singapore. As per the claims, the move to acquire the firm came following the surging adoption of digital assets worldwide.
According to the data from CryptoSlam(dot)io, V1 CryptoPunk wrapped #8857 became the most pricey NFT sold in the past 24 hours for $114,105, followed by RuneStone (#e484a1…56i361) for $97,411.
Till writing, the intraday total net inflow of Bitcoin spot ETF was $494.37 million; however, the BTC ETFs trading in HK collectively saw a total net outflow of $86.01. ARKB, the BTC ETF by Ark & 21 shares, leads the inflow list, adding $203.07 million, followed by FBTC by Fidelity, trading at $57.43 with an inflow of $123.06 million.
Until publishing, the total daily net inflow of the US ETH spot ETF was $58.65 million, with a cumulative total net inflow of negative $522 million. The list in the ETH ETF category is led by FETH Ethereum ETf by Fidelity, mirroring a daily net inflow of $42.54 million, followed by ETHA by BlackRock trading at $20.49 with an inflow of $11.46 million.
Crypto Market Price Updates
When writing cryptocurrency, market capitalization was at $2.27 trillion, with an intraday decline of 1.21%; at the same time, the fear and greed index powered by CoinMarketCap was at 56, reflecting neutral sentiments.
In the past 24 hours, Bitcoin price has been above the mark of $66k; at the time of writing, it was trading at 63,601 with a decline of 2.59%. Despite the price decline, its trading volume skyrocketed, growing 88%, reaching $26,294,998,723.
The FTT token native of FTX gathered massive attention in the past seven days as it topped the weekly gainers list and added 57% to its price, reaching $2.13. The list is further ruled by Dogwifhat (WIF), Bonk, Shiba Inu, and Pepe.
