How the spot Bitcoin ETF filings affected the crypto industry in June: Report
The news surrounding BlackRock’s application for a spot Bitcoin (BTC) exchange-traded fund (EFT) sent the asset’s price from its local lows in mid-June to a strong monthly close of +12%. To most observers, this was a sign that institutional investment into the cryptosphere is once again on the horizon. A future approval of a spot ETF combined with rate cuts from the United States Federal Reserve could provide the ideal catalysts for the next bull run.
For those keen to gain a deeper understanding of the crypto space’s various sectors and their fundamental trends, Cointelegraph Research publishes its monthly “Investor Insights Report,” which dives into venture capital, derivatives, decentralized finance (DeFi), regulation and much more. This month, Cointelegraph Research examined how various sectors reacted to the bullish news surrounding BlackRock’s ETF filing with the U.S. Securities and Exchange Commission.
The report is available for free on the Cointelegraph Research Terminal.
While crypto-related stocks, especially those of mining ventures, immediately benefitted from the news, other sectors traditionally tied closer to altcoin activity, such as DeFi, continued in bear-market mode unperturbed.
Many suspect that novel layer-2 scaling solutions for Ethereum will be among the big gainers in the next bull run. However, the competition in the space is tight. Zero-knowledge (ZK) rollup technology, which allows a shortened summary of transaction batches and smart contract executions to be submitted to the chain, will arguably be the biggest area of innovation in this crypto market cycle.
ZkSync Era’s ZK Stack, Polygon zkEVM and StarkWare’s Starknet have all been in the news for their recent or newly proposed innovations.
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