BlackRock's Ethereum ETF Filing Signals Potential Ripple (XRP) ETF in the Works

Bitcoin and ether remain steady in Asia as the discounts on Grayscale Bitcoin Trust narrow and anticipation for the approval of spot bitcoin and ether ETFs grows. Investor inflows into the crypto market have surpassed $1 billion this year. The U.S. economic data and Federal Reserve communications expected this week are likely to impact crypto market trends. The discount on the Grayscale Bitcoin Trust has shrunk to levels not seen since July 2021. The U.S. Securities and Exchange Commission (SEC) has initiated discussions with Grayscale Investments about converting the trust to a spot bitcoin ETF. BlackRock's announcement of an ether-based ETF has boosted market sentiment, with ETH outperforming bitcoin. Trading activity on decentralized exchanges (DEXs) is at a six-month high as traders shift from altcoins to ether in anticipation of ETF approvals.