Latest news with #21Shares
CNBC
15 hours ago
- Business
- CNBC
ETFs and corporate treasuries should support bitcoin's uptrend in June as tariff uncertainty lingers
In the tug of war between the macroeconomic and crypto adoption stories, blockchain adoption is starting to taking over the bitcoin narrative. Institutions and corporations combined to drive up bitcoin in May. The cryptocurrency ended the month about 10% higher, its second straight monthly rise, driven by strong inflows into bitcoin exchange-traded funds and continued purchases of bitcoin by corporate treasury departments. Bitcoin ETFs saw $5.6 billion in inflows this month, when the number of bitcoin held by public companies grew 4% to $85.6 billion, according to Bitcoin Treasuries . Investors expect the trend to continue in June, and to benefit bitcoin's long-term performance. The uncertainty of President Donald Trump's tariff policy has so far helped bitcoin more than hurt it – the initial sell-off in risk assets after Trump's tariffs were unveiled in April pulled it down to about $76,000, but bitcoin still finished the month up 13.5%. That said, analysts say not to dismiss the downside risk just yet. "The fact that significant policy adjustments can be made at any time, especially around tariffs, makes near-term pricing incredibly difficult," said Chris Rhine, head of liquid active strategies at Galaxy Digital. "The cumulative weight of this policy uncertainty will likely lead to a sharper slowdown in economic activity, particularly in consumer-driven end markets, increasing the likelihood of monetary policy support." In other words, lower interest rates. 1M mountain Bitcoin (BTC) in May Investors have cheered crypto's seeming decoupling from equities in recent weeks, benefiting when there's liquidity in the market and stocks do well, but also in risk-off scenarios where crypto has provided a haven from uncertainty. That best-of-both-worlds scenario has helped support bitcoin's price and bring new buyers to the market. Unfortunately, that dynamic hasn't been meaningfully tested yet, said Federico Brokate, head of U.S. business at 21Shares, a financial technology company focused on providing access to cryptocurrency investments through exchange-traded products. "The macro story is still very important," Brokate said. "If we continue to see that in June, that's going to be very bullish for the asset, price wise. We haven't seen this play out over a sustained period of time, so this is something that a lot of us will be paying attention to over the next few weeks." After reaching a new all-time high on May 22 of $111,999, bitcoin retreated to the $104,000 level Friday after Trump reignited fears of a trade war with China . In a social media post, the president claimed China "violated" its current trade agreement with the U.S., one day after Treasury Secretary Bessent said in a Fox News interview that U.S.-China trade talks "are a bit stalled." The shadow of unpredictability aside, investors are optimistic about bitcoin's direction, primarily monitoring bitcoin ETF flows, corporate treasury announcements and regulatory developments. After an early block, the 'GENIUS' Act, short for Guiding and Establishing National Innovation for U.S. Stablecoins, advanced to the Senate on May 19 and is likely to come up for a floor vote in early June. Whether it passes with bipartisan support or fails to pass, the outcome will likely have an impact on sentiment around bitcoin, Galaxy's Rhine said. Wells Fargo expects "a difficult road ahead" in light of a separate bill to regulate stablecoins in the House, analyst Andrew Bauch said in a note this week. From a technical standpoint, looking solely at price charts, bulls are likely to hold the reins in June, according to Tracy Jin, chief operating officer of crypto exchange MEXC. "[They'll] aim to defend the $109,000 support level, a potential target for downward pressure from hedge funds holding put options," she said. With a new record behind it, bitcoin has now opened the door to the $113,000 to $115,000 zone. That represents "serious resistance on the way to a strategic target of $130,000, Jin said, adding: "If the current pace is maintained and the $115,000 level is successfully overcome, the price may reach $130,000 in June."
Yahoo
a day ago
- Business
- Yahoo
SUI Price Prediction - What could affect SUI's future price?
Sui price prediction remains mixed as bearish pressure from a major exploit recovery and upcoming token unlocks weighs on sentiment, while bullish momentum builds from ecosystem expansion and growing institutional adoption. - Cetus DEX exploit ($223M stolen) weighs on sentiment but community recovery efforts mitigate damage - June token unlocks ($206M) risk increasing selling pressure - Technical indicators show weakening momentum near key $3.40 support. - BTCFi growth and ETF filings signal long-term institutional interest Sui faces sector-wide headwinds with crypto's Fear & Greed Index at 61 (Greed) and altcoins underperforming Bitcoin. However, its BTCFi sector now holds $300M in BTC, positioning Sui as a Bitcoin DeFi hub. Competitors like Solana and Aptos also face June unlocks, creating sector-wide liquidity tests. The May 22 Cetus Protocol exploit temporarily crushed SUI's price (-8%) and ecosystem tokens, but 90% validator approval for frozen asset recovery demonstrates crisis-response capability that could rebuild trust. MACD: Bearish crossover with histogram at -0.0798 RSI: Neutral at 47.09 (14-day) but below equilibrium Key Levels: Immediate support at $3.40 (200-day SMA + Fibonacci 61.8%). Break below risks test of $3.14 swing low Volume: 19% spike during May 30 flash crash shows vulnerability to whale moves The descending channel from May highs suggests resistance at $3.72-$3.88 needs to break for bullish reversal. June 2 Token Unlock: 58.35M SUI ($206M) enters circulation - equivalent to 1.75% of market cap ETF Developments: 21Shares/Nasdaq ETF filing under SEC review until Jan 2026 Mysticeti v2 Upgrade: Faster transaction finality could boost DeFi activity post-recovery Institutional Partnerships: Microsoft Fabric integration via Space and Time expands developer access Sui's price trajectory hinges on whether ecosystem growth outpaces unlock-driven selling and exploit fallout. The $3.40 support level and Cetus' recovery timeline (targeting full relaunch by June 6) are critical watchpoints. Will Sui's BTCFi momentum attract enough capital to offset June's $2.7B sector-wide unlock pressure? Sui price prediction is mixed, as bullish optimism driven by tech upgrades and institutional adoption contrasts with bearish concerns over centralization debates following the recent hack. Volatile price action reflects the market's uncertainty about SUI's short- to mid-term trajectory. - Ecosystem growth (BTCfi dominance, DeFi TVL ATH, institutional ETF filings) fuels bullish narratives. - Cetus Protocol hack ($223M exploit) sparks debates on Sui's decentralization and validator control. - Price volatility persists (-8% post-hack, +239% YoY) amid conflicting technical and fundamental signals. Bullish drivers dominate long-term sentiment:- Institutional adoption: Nasdaq/21Shares ETF filings, Athens Stock Exchange pilots, and Fireblocks custody support.- Tech momentum: Mysticeti v2 (faster consensus), Move VM 2.0 (30–65% speed boost), and Walrus storage protocol (725 TB filled).- DeFi growth: TVL hit $2.06B (+70% MoM), led by Suilend ($675M) and Cetus ($235M). Bearish pressures stem from short-term risks:- Cetus hack fallout: $SUI dropped 8% on May 22 after $223M exploit, though 90% of frozen funds are set for recovery.- Centralization critiques: Validators' ability to freeze assets triggered debates, with critics calling Sui 'a database with extra steps'. BTCfi expansion:- 10% of Sui's TVL now tied to Bitcoin DeFi via protocols like Babylon and Lombard, positioning it as a BTCfi hub. Gaming/social traction:- RECRDapp (1M daily users) and SuiPlay0X1 device (70+ games) drive adoption, with Parasol's Pokémon HOME integration sparking speculation. Regulatory tailwinds:- SEC progress on altcoin ETFs (75% approval odds per Bloomberg) and the GENIUS Act's stablecoin rules could benefit Sui's institutional pipeline. Sui's narrative hinges on balancing rapid ecosystem growth against post-hack trust rebuilding. While technical upgrades and BTCfi adoption suggest long-term upside, June's $206M token unlock and lingering centralization concerns could pressure prices near-term. Watch this: Will Sui's validator-led asset freeze set a precedent for centralized crisis management in 'decentralized' ecosystems? To get the latest update on SUI, visit our SUI currency page. Content created: 30th May 2025 Disclaimer: Content generated by CMC AI. CMC AI can make mistakes, please DYOR. Not financial advice.
Crypto Insight
2 days ago
- Business
- Crypto Insight
SUI price chart hints at 2x rally amid Nasdaq ETF filing
Sui is making a strong technical case for a 100% price rally in the coming weeks, helped further by a slew of optimistic updates, such as the recent Nasdaq ETF filing with the US Securities and Exchange Commission (SEC). Gooner EMA support raises 40% SUI bounce potential As of May 28, SUI has reclaimed the 'Gooner EMA' as support on the weekly chart. Gooner EMA is a technical indicator created by trader NebraskanGooner that uses the 11- and 22-period exponential moving averages (EMA). When the price crosses above the EMA range, it often leads to further gains. When the price closes below the EMA range, it tends to follow deeper losses. SUI lost this support, roughly between $3.34 and $3.59, last week after a $200 million exploit hit Cetus, a decentralized exchange built on the Sui blockchain. Now that SUI has reclaimed the zone, bullish sentiment is returning, according to NebraskanGooner. He wrote: 'As long as it can hold Gooner EMA support, it can retest ATHs. Depending on market conditions — it even has a chance for a new ATH.' SUI's current record high is around $5.36, roughly 40% above the current prices. Fibonacci retracement levels and SUI's prevailing ascending channel setup project $7.56 as the new record-high target, up over 100% from the current levels. Nasdaq files for SUI ETF NebraskanGooner's bullish outlook for SUI appears almost a week after Nasdaq's SUI ETF application with the US Securities and Exchange Commission (SEC). 21Shares already offers a Sui exchange-traded product (ETP) in Europe, listed on both Euronext Paris and Euronext Amsterdam. Since its launch in July last year, SUI's price has surged by over 350%. These listings have also helped boost total assets under management (AUM) in SUI-based ETPs to $317.2 million, according to a May 26 report from CoinShares. Between May 16 and May 24 alone, SUI products attracted $2.9 million in inflows, ranking just behind Bitcoin, Ether, Solana and XRP in terms of net assets. The regulatory approval for Nasdaq's SUI ETF remains uncertain, akin to most crypto ETF applications. Source:
Crypto Insight
4 days ago
- Business
- Crypto Insight
Nasdaq files for 21Shares Sui ETF, kicking off SEC review
Nasdaq has filed for crypto asset manager 21Shares to list a spot Sui exchange-traded fund (ETF) in the US, initiating the Securities and Exchange Commission's review process. The stock market's May 23 19b-4 filing, which asks the SEC to list the 21Shares SUI ETF, follows 21Shares' April 30 submission of its S-1 registration statement to the SEC, which asked the regulator to approve trading of the proposed fund. Both regulatory filings are needed for the Sui tracking fund to go live, with the 19b-4 filing kicking off the SEC's review process. The agency must decide whether to accept, reject or delay the application within 45 days and it can delay its decision multiple times, for a maximum review period of 240 days. The SEC must decide on 21Shares' application by Jan. 18, 2026, at the latest. 21Shares proposed BitGo and Coinbase Custody as the custodians to hold SUI on behalf of the trust; however, the filing did not include details on a management fee or ticker. Canary Capital is the only other asset manager that has submitted 19b-4 and S-1 filings to list a spot Sui ETF, filing the forms on April 8. 21Shares said in its 19b-4 filing that the SUI token powers the Sui network and serves four main purposes: it can be staked to earn rewards, used to pay gas fees, function as a liquid asset for Sui applications and serve as a governance token. The Sui ecosystem is largely focused on decentralized applications and has been dubbed a potential Solana killer. SUI is the 13th-largest cryptocurrency, but its $12.3 billion market cap remains a fraction of Solana's $92 billion market cap, according to CoinGecko. 21Shares aims to add to SUI offerings 21Shares already lists a Sui exchange-traded product in Europe, on the Euronext Paris and Euronext Amsterdam stock exchanges. Those listings have contributed to SUI-based exchange-traded products having $317.2 million in assets under management (AUM), according to a May 26 report from CoinShares. Flows into SUI ETPs increased by $2.9 million between May 16 and May 24, and only trails Bitcoin, Ether, Solana and XRP in terms of net assets. Source:
Yahoo
5 days ago
- Business
- Yahoo
21Shares Slashes Fee on Flagship HODL ETP to 0.99%
Fee cut positions HODL as one of the most competitive crypto index ETPs in Europe Zurich, 27 May 2025 – 21Shares AG, one of the world's leading providers of cryptocurrency exchange-traded products (ETPs), today announced a significant fee reduction on its flagship diversified crypto index ETP, the 21Shares Crypto Basket Index ETP (HODL). HODL was the world's first physically-backed crypto ETP, listed back in 2018, and is currently the most liquid crypto basket in Europe. The fee cut will be effective as of May 27. The total expense ratio (TER) has been lowered from 2.50% to 0.99%, making it one of the most cost-effective crypto index products on the market. As part of this update, HODL will also shift from a monthly to a quarterly rebalancing schedule (effective as of June 20), a move designed to better reflect market dynamics and align with long-term investor preferences. 'This fee reduction reflects our continued commitment to delivering institutional-grade crypto solutions without compromising on quality and transparency,' said Mandy Chiu, Head of Financial Product Development at 21Shares. 'We are anticipating more inflows into diversified crypto strategies, and lowering the cost of access to HODL is a natural step as the market matures. HODL remains the go-to solution for efficient, long-term exposure to the broader digital asset market.' The 21Shares Crypto Basket Index ETP (HODL) offers investors broad-based exposure to the digital asset market by tracking a diversified portfolio of the most prominent cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and BNB. This multi-asset approach enables investors to gain balanced exposure to the crypto market through a single, efficient product. With its newly reduced total expense ratio of 0.99%, HODL is now positioned among the most competitively priced crypto index ETPs globally, reinforcing 21Shares' commitment to accessible and cost-effective investment solutions. The product is also 100% physically backed, with all underlying digital assets held in cold storage by a regulated, institutional-grade custodian. This ensures a high level of transparency and asset protection, aligning with the expectations of both retail and institutional investors. For more information, visit to editors About 21Shares 21Shares is one of the world's leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world's first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions. 21Shares is a member of a global leader in decentralized finance. For more information, please visit Media ContactMatteo DISCLAIMER This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice. This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. 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