Crypto trading volumes rose in June for the first time in three months, according to a report by CCData, as asset managers filed proposals for spot bitcoin exchange-traded-funds (ETFs). The combined spot and derivative trading volumes on centralized exchanges climbed 14% to $2.71 trillion, said the report. Among the high-profile U.S. institutions that filed or refiled last month with the U.S. Securities and Exchange Commission (SEC) for spot bitcoin ETFs were BlackRock, Fidelity, Invesco, and WisdomTree.
The 90-day rolling correlation of changes in bitcoin’s spot price to changes in Wall Street’s tech-heavy equity index, Nasdaq, and the broader S&P 500, has declined to near zero, the lowest in two years, according to data tracked by crypto derivatives analytics firm Block Scholes. It [the correlation] is now at the lowest level observed since July 2021, said Andrew Melville, research analyst at Block Scholes.
Binance Australia’s office was searched by the Australian Securities & Investments Commission (ASIC) on Tuesday, according to a report in Bloomberg. The company’s derivatives license was canceled in April following an investigation into how it classified clients as professional wholesale investors. We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner, a Binance Australia spokesperson told journalists.