Welcome to Extreme Investor Network, where we provide you with the latest news and insights from the world of trading, Wall Street, and the stock market. Today, we are diving into the recent trends in the BTC-spot ETF market, the introduction of the Lummis-Gillibrand Payment Stablecoins Act, and the ongoing SEC vs. Ripple case.
BTC-spot ETF market flow data has shown a second week of net outflows, with investors closely monitoring the effects of the Fed and escalating tensions in the Middle East ahead of the Bitcoin Halving. In the week ending April 19, total net outflows reached $204.3 million, a significant increase from the previous week. Notable changes in specific ETFs include Grayscale Bitcoin Trust (GBTC) experiencing outflows of $458.4 million, Fidelity Wise Origin Bitcoin Fund (FBTC) seeing inflows of $93.6 million, and iShares Bitcoin Trust (IBIT) recording inflows of $165.4 million.
On the regulatory front, Senators Kirsten Gillibrand and Cynthia Lummis introduced the Payment Stablecoins Act to the Senate, aiming to establish a regulatory framework to protect consumers, drive innovation, and combat illicit financing and money laundering in the stablecoin market. Ripple CEO Brad Garlinghouse highlighted the growing demand for stablecoins and predicted a significant market growth in the coming years.
Meanwhile, the SEC vs. Ripple case continues to grab headlines as XRP faces the risk of its fourth consecutive weekly loss. Investors are closely watching as Ripple is set to file its opposition brief by April 22 in response to the SEC’s remedy-related opening brief. The SEC alleges that Ripple violated US securities laws and seeks a punitive disgorgement, raising questions about the jurisdiction and implications of the case.
Stay tuned to Extreme Investor Network for more updates on these developments and more insights to help you navigate the ever-evolving landscape of the stock market and trading. Join our community of extreme investors and take your investment journey to new heights.
