Following the recent approval of the first ether spot exchange-traded funds, analysts project that the next wave for big crypto ETFs will occur by 2025. Geoffrey Kendrick, head of forex and digital asset research at Standard Chartered Bank, believes coins such as SOL and XRP could achieve ETF status in 2023 following the precedent set with ETH.

“The fact that the SEC has approved these ether spot ETFs in their approval process may indicate they’ve not classified ETH as a security, and perhaps other cryptocurrencies will eventually be able to assert the same,” he said. What the political support meant for crypto by way of the U.S., for Kendrick, is marking a “true watershed moment” for the industry. So, this might light the way, boost additional regulatory change, and increase market confidence in digital assets.

While Kendrick expects dominance to flow to Bitcoin and Ether—hinting at an end-of-year price target for BTC of $150,000—he also sees ETH ETFs attracting investor inflows of up to $15 billion to $45 billion in the first year and pushing ETH prices higher to $8,000. It just legitimized the industry, so it raised investment interest in diversified crypto portfolios.

The Block

Kenya has signed a deal with Bitcoin miner Marathon Digital Holdings to monetize the country’s underutilized energy resources. This partnership, announced by Marathon’s CEO Fred Thiel on X, marks a significant step towards leveraging Kenya’s surplus energy for Bitcoin mining and technological development.

Signed! Kenya and @MarathonDH sign a historic deal for monetizing underutilized energy across Kenya and jointly developing technology projects. pic.twitter.com/d4Zh9o8MGI

— Fred Thiel (@fgthiel) May 24, 2024

“Kenya has a special spot in the history of digital currencies as it is the home of M-PESA, which in 2007 was one of the first ways for people in Kenya and now across Africa to…

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The market capitalizations of the world’s largest central banks provide a fascinating context for understanding Bitcoin’s scale in the global financial arena. The Federal Reserve tops the list with a substantial $7.74 trillion, closely followed by the People’s Bank of China with assets worth $5.14 trillion. Japan’s central bank holds $5.21 trillion, and Germany’s Bundesbank manages $2.72 trillion.

In Europe, the central banks of France, Italy, and England manage significant sums, with respective totals of $1.72 trillion, $1.5 trillion, and $1.2 trillion. The Swiss National Bank and the Reserve Bank hold $1.0 trillion and $0.8 trillion, illustrating their substantial financial footprints.

In comparison, Bitcoin’s market cap reaches an impressive $1.31 trillion. This figure positions Bitcoin as a significant player in the financial market, rivaling traditional financial institutions and illustrating the cryptocurrency’s prominence and acceptance as a major asset in the economic landscape.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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