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☆ Bitcoin briefly reached its highest price in over two years—but investors should still tread carefully
▼ + stars: | 2024-03-06 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

On Tuesday morning, bitcoin briefly reached an all-time high price of $69,210, according to Coin Metrics. The new record had been a long time coming: It's been over two years since the cryptocurrency reached its previous high of around $68,982 on Nov. 10, 2021. One factor that appears to be fueling bitcoin's recent rise is the debut of bitcoin ETFs. The digital token's rise also helped boost the price of other virtual coins, including ether, which reached its highest price level since January 2022 on Wednesday. Although bitcoin's recent success may make it tempting to buy in, think carefully before adding it or any other cryptocurrency to your investment portfolio.

Persons: bitcoin, It's Organizations: Metrics, Securities and Exchange

☆ Cryptocurrencies recover after bitcoin retreats from new record
▼ + stars: | 2024-03-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

On Tuesday bitcoin reached a new intraday record , for the first time since November 2021, of $69,210. It had been pushing higher for weeks – it's up 55% over the past month – and tumbled shortly after notching the new high. Bitcoin was last higher by 6% at $66,315.19, according to Coin Metrics, while ether rocketed more than 11% to $3,785.76, its highest level since January 2022. Cryptocurrencies bounced on Wednesday, recovering much of the losses from the previous day's sell-off, which came soon after bitcoin hit an all-time high. When traders use leverage to short bitcoin and the cryptocurrency's price rises, they buy bitcoin back from the market to close their positions, which pushes the price up and causes more positions to be liquidated.

Persons: bitcoin, –, Bitcoin, Cryptocurrencies, David Wells, Binance, Shiba, Microstrategy Organizations: Metrics, Solana, Marathon Digital, CNBC PRO

☆ Stocks making the biggest moves midday: CrowdStrike, Palantir, Super Micro Computer, Brown-Forman and more
▼ + stars: | 2024-03-06 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

JD.com — The Chinese e-commerce platform surged nearly 19% after posting a quarterly revenue increase. Thor Industries — Shares plunged 11% after the recreational vehicle maker posted quarterly revenue that disappointed expectations. In its second quarter, Thor Industries reported revenue of $2.21 billion, weaker than the FactSet consensus estimate of $2.27 billion. Box posted fourth-quarter earnings of 42 cents per share, topping the forecast 38 cents in earnings per share from analysts polled by LSEG. Wall Street firms HSBC and Deutsche Bank upgraded Target to buy after the earnings results.

Persons: CrowdStrike, JD.com, Nordstrom, Morgan Stanley, Locker, HashiCorp, LSEG, Couchbase, Bitcoin, Ether, ChargePoint, Wolfe, Brown, Forman —, Forman, Jack Daniel's, Adam Jonas, Tesla, Fitch, — CNBC's Michelle Fox, Lisa Kailai Han, Hakyung Kim, Pia Singh, Samantha Subin Organizations: Management, Nordstrom, New York Community Bancorp, Reuters, Wall, Bank, — Bank, PNC Financial Services, Northern Trust, T Bank, Thor Industries, FactSet, ChargePoint Holdings, LSEG, OpenAI, —, U.S . Army, Tactical Intelligence, Wall Street, HSBC, Deutsche Bank, Target, Argus, Abercrombie, Fitch, Tech Locations: FactSet ., LSEG .

☆ Bitcoin's Wild Price Booms and Busts Are Going to Continue Forever
▼ + stars: | 2024-03-06 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The main explanation for the recent gain in bitcoin's price is the Securities and Exchange Commission's begrudged blessing of spot bitcoin exchange-traded funds, investment vehicles that track bitcoin's price. As bitcoin ETF providers have to invest in the underlying assets — bitcoins — demand for those assets increases. "The speed of the come-up is much faster than I thought," he said, adding that he was specifically surprised at retail-trader activity in the bitcoin ETFs. (Also, not everyone agrees it will be good for bitcoin's price.) Or maybe, just maybe, the latest run will cement bitcoin's future as a more stable part of people's investment portfolios.

Persons: Bitcoin's, bitcoin, David Yermack, University's, who've, BlackRock's, Eric Balchunas, James Butterfill, it's, Butterfill, shiba inu, Nic Carter, Carter, Bitcoin, Yermack, Emily Stewart Organizations: bitcoin, University's Stern School of Business, Securities, Exchange, SEC, Wall, Fidelity, University's Stern School of, Bloomberg Intelligence, Federal Reserve, New York Community Bancorp, Castle, Ventures, Business Locations: New, bitcoin, BlackRock, David Yermack , New

☆ The rise of the job-search bots
▼ + stars: | 2024-03-05 | by ( Aki Ito | ) www.businessinsider.com time to read: +18 min

Unlike the other bots, which ingested job openings into their own sites, LazyApply submitted applications via external job boards. AdvertisementUnlike the other bots, LazyApply did all the applying in real time, right in front of my eyes. Hugo Herrera for BISo far, though, it looks like the arrival of job bots is only making the problem worse. But the job bots at LazyApply and other services never get tired. Still, I came away from my time among the job-search bots feeling the way I do about much of AI.

Persons: they're, hadn't, Sonara, Hugo Herrera, LazyApply, American Aki, Aki Ito, Carlson, Boston Globe —, CareerBuilder, Tony Riggins, I've, Teal, Marc Cenedella, Cenedella, John Henry, —, didn't, it's, Bob, you'd, Emily Lamia, Lamia, she's, underpaid Organizations: BI, AK, Boston Globe, Employers, Bloomberg, The Boston Globe, Facebook, YouTube, Business Locations: America, American, That's

☆ How Hedge Funds Are Betting on Electricity and the Changing Power Grid
▼ + stars: | 2024-03-05 | by ( Alex Morrell | Bradley Saacks | ) www.businessinsider.com time to read: +19 min

A onetime commodities backwater, congestion trading has become a growing business in recent years as the demand for electricity and volatility on the power grid in the US has soared. The financial category, which includes specialized power-trading companies, banks, hedge funds, and large proprietary trading firms, dominates the market, in part because the physical power firms typically operate in only one or two regions. He launched three congestion trading teams for the firm, including in California and Texas after those states introduced congestion trading in 2008 and 2010, respectively. Citadel, along with Susquehanna International Group and Tower Research, has been involved in FTR trading since the market's infancy. Volatility has been increasing on the power grid, in part because of changing weather patterns, Jeev added.

Persons: Kumar Jeev, Jane Street, Richard Roseblade, who's, There's, Roseblade, Bill Clark, Jeev, DC Energy's Tyler Kuhn, DRW, California Al Seib, Brevan Howard, Jane, Stephanie Staska, Staska, couldn't, Joe Biden's, It's, Meredith Angwin, Angwin Organizations: Business, Capital, Midwest, Citadel, Tower Research, Yes Energy, Energy, Anadolu, Getty, Federal Energy Regulatory Commission, FERC, Nasdaq, York Stock Exchange, Nvidia, Johns Hopkins University, DC Energy, Wayfair, Squarepoint, Appian, Boston Energy, Susquehanna International Group, DC, Bloomberg, Commodities, Traders, Wall Street, Workers, GreenHat Energy, JPMorgan, Hill Energy Resource & Services, P, Grid, & $ Locations: Wall, East Coast, DRW, Susquehanna, FTRs, New York, Canada, Texas, Virginia, California, Berlin, Chicago, Oregon, California Al, Ukraine, Russian, Uri, Northern Virginia

☆ These other crypto trades are having big years as bitcoin hits a record high
▼ + stars: | 2024-03-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

Start with the arrival of bitcoin exchange traded funds, which is often pointed to as one of the sparks of the crypto rebound. IBIT 1M mountain Bitcoin ETFs, like iShares' IBIT, have surged over the past month as the cryptocurrency has raced to a new record high. MSTR 1M mountain Shares of Microstrategy are outperforming bitcoin over the past month. Stock Chart Icon Stock chart icon Bitcoin ETFs, like iShares' IBIT, have surged over the past month as the cryptocurrency has raced to a new record high. Stock Chart Icon Stock chart icon Shares of Microstrategy are outperforming bitcoin over the past month.

Persons: Kenneth Worthington, It's, cryptocurrencies Organizations: Fidelity, Bitcoin, JPMorgan, Marathon, Getty

☆ Ether climbs another 6% after Monday rally, bitcoin hits record
▼ + stars: | 2024-03-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Ether on Tuesday continued its march higher as the price of bitcoin took a breath. Bitcoin rose 1% to $68,833.45 and hit a record high above $69,000. "As has often happened in the past, bitcoin approaching record highs has caused a trickledown effect of adoption elsewhere in the ecosystem." With bitcoin up 19% in the past week, meme coins have gained about 175% in the same period, according to CoinGecko. Analysts point to them as evidence that retail investors, who have been absent for much of the recent crypto rally, are starting to return to the crypto market.

Persons: bitcoin, bitcoin's, Philipp Zentner Organizations: Metrics Locations: Bitcoin

☆ Bitcoin tops $65,000 as it nears 2021 all-time high
▼ + stars: | 2024-03-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Earlier, it rose to as much as $65,658.10, its highest level since November 2021. The price of bitcoin rose to start the week, edging even closer to its all-time high after the rally took a breather over the weekend. "What we're seeing today ... might well be a rerun of early last week when bitcoin surged $10,000 in the space of a couple of days. Investors have been extra eager to see bitcoin approach its all-time high. Nevertheless, long-term investors are confident that the combination of increasing demand for bitcoin through the new U.S. exchange-traded funds and a tighter supply expected after the April halving event will push the price of bitcoin to a new all-time high.

Persons: bitcoin, cryptocurrency, Antoni Trenchev, Crypto, David Duong, Dogecoin, Shiba, CleanSpark Organizations: Metrics, Nasdaq, Marathon Digital, Iris Energy

☆ Ether surges past $3,600 as thousands descend on ETHDenver 2024
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther surges past $3,600 as thousands descend on ETHDenver 2024CNBC's MacKenzie Sigalos reports from ETHDenver on the latest trends in web3 and AI.

Persons: CNBC's MacKenzie Sigalos Locations: ETHDenver

☆ Investors should tread carefully in March after bitcoin's explosive rally to $60,000
▼ + stars: | 2024-03-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

With bitcoin on a hot streak this past week, investors should brace themselves for a cooling in March. "But cash inflows into spot bitcoin ETFs are accelerating, and that seems to have been overpowering those technical signals." Although Bitcoin traded above $62,000 to end the week, it's realized price was down at the $42,000 level, according to CryptoQuant. CryptoQuant also showed the cost of opening new long positions in the futures market spiked in the recent rally, which historically signals a coming correction in the bitcoin price. Ether, however, has ended the month higher in six of the last eight March's since its inception, with an average gain on the month of 25%.

Persons: Yuya Hasegawa, Hasegawa, Julio Moreno, Bitcoin, it's, bitcoin, CryptoQuant, David Duong, Duong, Michael Bloom Organizations: JPMorgan, CNBC, Federal, New York Community Bancorp Locations: New York

☆ Ether up 50% this year as trader optimism soars over possible spot ether ETF approval
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther up 50% this year as trader optimism soars over possible spot ether ETF approvalCNBC's MacKenzie Sigalos reports from EthDenver on the run-up in crypto prices as thousands gather for one of the biggest crypto conferences of the year.

Persons: CNBC's MacKenzie Sigalos Locations: EthDenver

☆ Bitcoin tops $63,000 as it closes out the best month since 2020
▼ + stars: | 2024-02-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Jonathan Raa | Nurphoto | Getty ImagesCrypto prices rose on Thursday as bitcoin and ether headed for a winning month. Bitcoin was last higher by more than 5% at $63,252.82 on the final day of February, according to Coin Metrics. Ether advanced more than 6% to $3,483.81 on Thursday. Bitcoin is now up 47% for the month, marking its sixth straight month of gains — its best showing since December 2020 when it rose 49.5%. Stock Chart Icon Stock chart icon Bitcoin YTD

Persons: Jonathan Raa, Bitcoin Organizations: Nurphoto, Getty, Metrics

☆ Bitcoin firm MicroStrategy pops 27% in two days as company's crypto stake hits $11 billion
▼ + stars: | 2024-02-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

In this article MSTR Follow your favorite stocks CREATE FREE ACCOUNTMicroStrategy CEO Michael Saylor speaks at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. MicroStrategy, along with its subsidiaries, now owns about 193,000 bitcoins worth $11 billion. watch nowInvestors have been increasingly bullish on the bitcoin trade following the SEC's approval of multiple spot bitcoin exchange-traded funds last month. "Institutional capital is still getting up to speed with bitcoin ETFs. For example, MicroStrategy has the ability to acquire bitcoin using proceeds from debt and equity issuances, the firm said.

Persons: Michael Saylor, Joe Raedle, MicroStategy, Andrew King, bitcoin, Bitcoin, Ryan Rasmussen, —, MicroStrategy, Cowen, CNBC's Dylan Butts, Ari Levy Organizations: Mana Convention, Getty, Bitwise Asset Management, Research, Benchmark Locations: Wynwood, Miami , Florida, bitcoin, Bitcoin

☆ Bitcoin's all-time high is in sight after the crypto breached $57,000, chart analysts say. Here's what to expect
▼ + stars: | 2024-02-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin's all-time high is in clear sight after the cryptocurrency surpassed $57,000 on Tuesday. The flagship crypto is now roughly 20% off its November 2021 all-time high of $68,982.20, and it just cleared a key resistance level, according to Fairlead Strategies. "The main thing to highlight is the confirmed breakout above $48,000, which targets final resistance [of about] $64,900," said Will Tamplin, senior analyst at Fairlead. BTC.CM= 5D mountain Bitcoin this week confirmed a breakout above $48,000 Oppenheimer chart analyst Ari Wald confirmed that outlook. However, the firm does not expect a major pullback from bitcoin given the breakout and positive momentum in the intermediate term.

Persons: Will Tamplin, Oppenheimer, Ari Wald, Bitcoin, bitcoin, Katie Stockton Organizations: Fairlead, Metrics

☆ Bitcoin resumes its rally, ripping through $54,000 for the first time since December 2021
▼ + stars: | 2024-02-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The price of bitcoin shot above the $54,000 level on Monday after waking up from a week of tepid trading. At its session high, bitcoin hit $54,965.26 and reached its highest level since December 2021. "Today is settlement day for bitcoin futures, which is contributing to the price jump we're seeing," said Ryan Rasmussen, analyst at Bitwise Asset Management. "We're approaching the window where we typically see traders positioning themselves ahead of the bitcoin halving, which will happen in the second half of April. Bitcoin traded flat in the week leading up to Monday, when the breakout began, and put it on track for a 27% monthly gain.

Persons: cryptocurrency, bitcoin, Ryan Rasmussen, Ether, Solana, Polygon's, Microstrategy, Bitcoin, Owen Lau, Oppenheimer, JPMorgan's Nikolaos Panigirtzoglou Organizations: Metrics, Bitwise Asset Management, JPMorgan, CNBC PRO Locations: —

☆ Why ether is outperforming bitcoin by nearly 10% so far this year: CNBC Crypto World
▼ + stars: | 2024-02-22 | by ( Jordan Smith | Talia Kaplan | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy ether is outperforming bitcoin by nearly 10% so far this year: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Rich Rines of Core DAO reacts bitcoin and ether's performance so far this year. Plus, he shares his expectations for the bitcoin halving, spot ether ETFs, and more.

Persons: explainers, Rich Organizations: CNBC Crypto, CNBC

☆ Ether briefly crosses $3,000 for the first time since April 2022: CNBC Crypto World
▼ + stars: | 2024-02-20 | by ( Jordan Smith | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther briefly crosses $3,000 for the first time since April 2022: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Sandy Kaul, head of digital asset & investor advisory services, discusses the firm's EZBC spot bitcoin ETF.

Persons: explainers, Sandy Kaul Organizations: CNBC Crypto, CNBC

☆ Wall Street cheers Coinbase after its first quarterly profit in 2 years, but skepticism lingers
▼ + stars: | 2024-02-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

Wall Street is celebrating Coinbase after the crypto exchange operator posted its first quarterly profit in two years. Late Thursday, Coinbase posted earnings of $1.04 per share on $954 million of revenue for the fourth quarter. "Happy days are here again" for Coinbase, as Raymond James put it, but it's not clear for how long. "That said, we maintain our U/P rating given crypto market unpredictability, lack of revenue diversification, valuation, and continued legal overhang." JPMorgan, neutral, PT $95 "Management calls spot bitcoin ETFs [a] net positive but, we're still unconvinced," said JPMorgan's Kenneth Worthington.

Persons: Coinbase, haven't, bitcoin, Raymond James, Goldman Sachs, Goldman, Will Nance, revs, Jason Kupferberg, Benjamin Budish, EBITDA, underperform, Patrick O'Shaughnessy, we're, Kenneth Worthington, Keefe, KBW's Kyle Voigt, Oppenheimer, Owen Lau, Devin Ryan, Needham, John Todaro, Canaccord, Joseph Vafi, Michael Bloom Organizations: LSEG, U.S . Securities, Exchange Commission, " Bank of America, Bank of America, Barclays, JPMorgan, Management, SEC, Coinbase's, BTC Locations: U.S, Coinbase, Needham

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther trades above $2,800 for the first time since May 2022: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Robert Le, a crypto analyst with PitchBook, breaks down the findings of the data firm's Q4 crypto report, which revealed a slight uptick in venture capital funding, marking a modest recovery after six quarters of decline.

Persons: explainers, Robert Le, PitchBook Organizations: CNBC Crypto, CNBC

☆ Bitcoin regains $1 trillion market cap as the cryptocurrency hits over two-year high
▼ + stars: | 2024-02-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The value of all the bitcoin in circulation, or market capitalization, on Wednesday rose above $1 trillion for the first time since late 2021, according to CoinMarketCap data. The cryptocurrency also broke through the $51,000 level during the day, marking the first time it has hit this price since December 2021. When the halving takes place, the rewards given to bitcoin miners are cut in half, which reduces the volume of the cryptocurrency onto the market. The newly-issued spot bitcoin ETFs recorded net inflows of $1.1 billion last week. ETFs are a product that track the price movement of another asset, in this case allowing investors to play bitcoin price moves without owning the underlying cryptocurrency.

Persons: Bitcoin, bitcoin, Bitcoin's, Ethereum Organizations: U.S . Securities, Exchange, Investors, SEC

☆ What the latest inflation data means for interest rates
▼ + stars: | 2024-02-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at what a hotter-than-expected inflation report means for markets and the econom y . That silver lining doesn’t address the elephant in the room: What does the latest CPI data mean for interest rates? AdvertisementMadison Hoff/Noah Sheidlower/Business InsiderThe hot inflation report comes just a few weeks after some industry experts felt the market was in a perfect position. Stubbornly elevated inflation means Powell might be less willing to cut rates and risk further fueling inflation. It’s particularly painful for smaller companies, which tend to carry floating-rate debt more susceptible to elevated interest rates.

Persons: —, Angela Weiss, Insider’s Madison Hoff, BI’s Aruni Soni, Madison Hoff, Noah Sheidlower, we’ve, Jerome Powell, Powell, Jim Zelter, BI’s Yuheng Zhan, Alyssa Powell, Peter Thiel, bitcoin, Noah Berger Sam Altman’s, Jensen Huang, Altman's, Mark Zuckerberg, Jeff Bezos, Bezos, Rob Dobi, doomsayers, Brace, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, Dow Jones, Bank of America, Apollo Global Management, Federal Reserve Bank of New, BlackRock, Strategic Investors Group, BI, Fund, Reuters, Apple Vision, BI Sky, Employees, Cisco Systems, Sony, McLaren Locations: Federal Reserve Bank of New York, Dubai, Miami, Washington, New York, London

☆ Bitcoin extends its gains, breaking through the $50,000 level
▼ + stars: | 2024-02-12 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin jumped above $50,000 Monday, at one point reaching its highest level in more than two years. Earlier, it rose to $50,334.00, its highest level since December 2021. Positive sentiment has returned to crypto after big outflows from the Grayscale Bitcoin ETF suppressed sentiment over the past month. Additionally, bitcoin caught a bid last week from the stock market, where the S&P 500 passed 5,000 last week. On Monday, both the broad market S&P and the blue-chip Dow Jones Industrial Average hit fresh intraday highs.

Persons: Bitcoin, cryptocurrency, Antoni Trenchev, bitcoin Organizations: Metrics, Dow

☆ Lost Images Reveal the History of Rio’s Carnival
▼ + stars: | 2024-02-10 | by ( Jack Nicas | ) www.nytimes.com time to read: +6 min

Lost Images Reveal the History of Rio’s CarnivalRafael Cosme was at a Rio de Janeiro antique fair six years ago when he found a pile of film negatives on the ground. It is Rio’s annual collective exhalation — a four-day eruption of art and music, costumes and joy — that began again on Saturday. “I realized there are endless stories I could tell about this city,” Mr. Cosme said about his discovery of Rio’s lost photos. Around that time, Rio’s rich elites began parading around the city during Carnival in open cars, according to Maria Clementina Pereira Cunha, a historian who has written books about Rio’s Carnival. Today the parade remains the centerpiece of Rio’s Carnival, held in a dedicated stadium built in 1984.

Persons: Rafael Cosme, ”, —, Mr, Cosme, “, Rio’s, ” Dado Galdieri, Maria Clementina Pereira Cunha, suburbanites, Ms, Pereira Cunha, “ bate bola, Felipe Ferreira, “ blocos Organizations: Rio’s, Rio, The New York Times, State University of Rio Locations: Rio, Janeiro, Rio de Janeiro, Brazil, Europe, Rio’s, ”, State University of Rio de Janeiro, Brazilian, Black

☆ Ether is poised for an ETF approval in May, but the crypto’s price action may be subdued
▼ + stars: | 2024-02-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Investors expect the Securities and Exchange Commission to greenlight spot ether ETFs in May, but the price action for the crypto could be subdued compared to bitcoin's moves in the runup to its ETF approvals. That compares to the 55% surge bitcoin saw after BlackRock first filed its spot ETF application for the flagship crypto. Regardless, we see the spot ether ETF being less appreciated by the market." JPMorgan estimates a "no more than 50% chance" of spot ether ETF approval by May 23, the final deadline for the SEC to approve or deny the Ark/21Shares application . Schwenkler said any excitement leading up to potential ether ETF approvals will be "less speculative" and that a lot of it is priced in already.

Persons: Kenneth Worthington, Nico Cordeiro, there's, Owen Lau, Oppenheimer, Gustavo Schwenkler, Bitcoin, Solana, Schwenkler, — CNBC's Michael Bloom Organizations: Securities and Exchange Commission, JPMorgan, BlackRock, BTC, ETH, SEC, CNBC, Leavey School of Business, Santa Clara University, of Locations: Southern, of New York, bitcoin

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