Bitcoin, Ethereum & Circle — Asian Wrap 10 June

Bitcoin (BTC) rose 4% on Monday following a post from Paraguayan President Santiago Peña’s hacked X account stating that BTC has been approved as a legal tender in the country. The post was deleted after Presidencia Paraguay flagged the information as false.

Ethereum (ETH) investment products maintained their inflow streak last week, likely driven by the shifting narrative around public blockchains and high anticipation of a Securities and Exchange Commission (SEC) approval for staking within ETH ETFs.

Circle (CRCL) jumped 7% on Monday following filings of asset managers T-Rex, ProShares and Bitwise to launch separate exchange-traded funds (ETFs) tracking Circle’s CRCL stock, less than a week after it went live on the New York Stock Exchange (NYSE).