Source: Cointelegraph Original: "{title}"
Under the leadership of Jerome Powell, the Federal Reserve has built a reputation for delaying significant policy changes. However, a senior central bank official stated that the Fed is "absolutely" prepared to take all necessary measures to avoid a financial crisis, whether triggered by a U.S.-led trade war or other adverse developments.
Although the much-anticipated "Fed pivot" may still take months to materialize, policymakers seem ready to gradually ease financial conditions, having lowered the redemption cap on 80% of Treasury bonds starting last month.
The Fed's policies exert a gravitational pull on global markets through dollar liquidity, which directly impacts Bitcoin (BTC) and the broader cryptocurrency market. In fact, since the COVID-19 pandemic, the Fed's influence on the cryptocurrency market has only increased. Since then, the correlation between Bitcoin and liquidity has significantly risen, as further validated by a 2024 academic paper from Kingston University of London.
This week's "Crypto Biz" newsletter highlights comments from a senior central bank official and covers significant developments in the Ethereum exchange-traded fund (ETF) market and the Bitcoin mining industry.
Fed's Collins: Central Bank Will Address Liquidity Constraints
Boston Fed President Susan Collins stated that if economic and financial conditions deteriorate rapidly, the central bank "will absolutely be prepared" to support the markets.
Collins specifically mentioned that potential liquidity issues or other disruptive factors could hinder the normal functioning of the markets.
However, Collins noted that the Fed "does not currently see liquidity issues." If this outlook changes, she emphasized that the Fed has "tools to address market functioning or liquidity issues."
Collins is a voting member of the Federal Open Market Committee (FOMC) this year, which is responsible for setting interest rates.
According to Fed fund futures prices, investors expect the FOMC to keep interest rates unchanged at the upcoming May meeting. However, the likelihood of a rate cut in June has risen to 67.5%.
U.S. Regulators Approve Options Trading for Spot Ethereum ETFs
The U.S. Securities and Exchange Commission (SEC) has approved options trading for several spot Ethereum (ETH) ETFs, marking a significant milestone for Ethereum in attracting more institutional capital.
According to an announcement on April 9, the SEC approved options trading for BlackRock's iShares Ethereum Trust, Bitwise's Ethereum ETF (ETHW), Fidelity's Ethereum Fund (FETH), as well as Grayscale's Ethereum Trust (ETHE) and Ethereum Mini Trust (ETH).
Options trading allows ETF investors to hedge against asset declines, potentially making these funds more attractive to investors.
The approval of options trading is also seen as an important step by the SEC as it considers staking services for Ethereum ETFs. According to Bloomberg analyst James Seyffart, the SEC may approve staking services as early as May.
Solana Staking ETF Enters Canadian Market
As the SEC continues to review crypto staking services, Canadian regulators have approved another batch of crypto staking ETFs, this time for Solana (SOL).
This week, asset management firms 3iQ, Purpose, Evolve, and CI received approval from the Ontario Securities Commission to offer Solana staking ETFs. The 3iQ fund has chosen blockchain infrastructure provider Figment as its primary staking service provider.
According to the 3iQ website, the Solana staking ETF will offer a yield of 6% to 8%.
Toronto-based 3iQ launched a spot Bitcoin ETF in 2021, approximately three years ahead of similar funds being approved in the U.S.
Bitdeer Shifts to Self-Mining Amid Trade War Disruptions
Bitcoin mining company Bitdeer is expanding its self-mining capabilities and allocating more resources to the U.S. market due to concerns that a U.S.-led trade war will disrupt global supply chains and undermine its hardware business.
According to a Bloomberg report on April 15, Bitdeer is prioritizing Bitcoin mining due to declining demand for mining machines.
As the entire industry grapples with the potential impacts of tariffs, Bitdeer executive Jeff LaBerge stated in an interview with Bloomberg, "Our future plans are to prioritize our own self-mining."
Regarding U.S. expansion plans, LaBerge said, "This is something we've been planning for a long time."
The two sons of former President Trump, Eric and Don Jr., have fully committed to Bitcoin mining following their support for a partnership with Hut 8. This continues the Trump administration's renewed commitment to promote "Made in America" Bitcoin.
"Crypto Biz" is your weekly pulse on the business trends behind blockchain and cryptocurrency, delivered directly to your inbox every Thursday.
Related: Wyoming SEC Discusses Whether Stablecoins Are "Governed" by SEC Rules
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