10.8 AI Daily: AI chip giant NVIDIA raises funds to expand production, EU plans to regulate AI risks

1. Headline

1. AI chip giant Nvidia raises $20 billion to accelerate AI computing power expansion.

Nvidia has announced that it has completed a $20 billion financing round to expand its AI chip production capacity. This move aims to meet the growing global demand for AI computing power. Analysts believe that this initiative will further solidify Nvidia's leading position in the AI chip market.

Nvidia holds a monopoly in the AI chip sector, with its GPU chips widely used in AI training and inference. As AI technology penetrates various industries, the demand for high-performance AI chips has surged. Nvidia's recent financing will be used to build new chip manufacturing plants and increase production capacity.

Industry insiders point out that Nvidia's expansion plans will drive the development of the AI chip industry and promote the application of AI technology in more fields. However, it may also intensify competition with other chip giants. The future market landscape for AI chips remains to be observed.

2. The EU plans to legislate to regulate artificial intelligence and establish a risk classification management system.

The European Commission will propose a draft regulation on artificial intelligence this week, aimed at regulating the development and use of AI systems. The regulation will take different control measures for AI systems with different risk levels.

It is reported that the EU will categorize AI systems into four risk levels: no risk, low risk, high risk, and unacceptable risk. For high-risk AI systems, strict compliance requirements will be implemented, including risk assessments and human reviews, among others. For no risk or low risk systems, a relaxed self-assessment system will be adopted.

Analysts believe that this move will establish global standards for AI regulation, which will be beneficial for the healthy and orderly development of the AI industry. However, it may also increase compliance costs for companies and have a certain impact on AI innovation. How to balance innovation and regulation remains a topic worthy of in-depth discussion.

3. ChatGPT new features launched, can generate programming code and 3D models

OpenAI announced that its popular AI assistant ChatGPT has added code generation and 3D model generation features. Users can have ChatGPT generate the required programming code or 3D model files through text descriptions.

This new feature will significantly enhance the practicality of ChatGPT. Developers can use it to quickly write code prototypes, while designers can leverage it to create 3D model sketches. Analysts believe that this will further broaden the application scenarios of ChatGPT, which is expected to play an important role in software development, product design, and other fields.

At the same time, some individuals have raised concerns about the copyright ownership and intellectual property protection of content generated by ChatGPT. OpenAI has stated that it will further improve relevant policies to protect the rights of creators. The issue of intellectual property rights for AI-generated content needs further clarification from laws and regulations.

4. AI paintings fetched sky-high prices at auction, sparking controversy in the art world.

Recently, a digital artwork generated by AI was sold for a high price of $42 million at the Sotheby's auction in New York, attracting widespread attention and controversy in the art world.

This piece, titled “Endless Dreamscape,” was generated by an AI painting software based on a textual prompt. The auction house claims it's the highest record for an AI artwork auction price in history. However, some artists and critics question whether AI-generated works should be considered true art.

Supporters believe that AI art opens up new ways of creation and has unique aesthetic value. Opponents, however, worry that AI may replace human artists and potentially infringe on the copyrights of existing artworks.

This event has once again brought the legitimacy and value issues of AI art to the forefront. Industry insiders are calling for the establishment of evaluation standards and regulatory mechanisms for AI art to promote the integrated development of artificial intelligence and art.

5. AI face-swapping technology has been abused, and many countries are calling for stronger regulation.

Recently, several countries have discovered that individuals are using AI face-swapping technology to create inappropriate videos, violating others' portrait rights. This has attracted widespread social attention, with various parties calling for stronger regulation of AI face-swapping technology.

AI face-swapping technology was originally used in fields such as film special effects, allowing a person's face to be mapped onto another person in real-time. However, in recent years, this technology has also been misused by criminals to create illegal content such as hate speech and defamation.

Analysts point out that although AI face-swapping technology itself is neutral, its abuse has constituted a serious violation of privacy and human rights. Countries should expedite legislation, clarify relevant legal responsibilities, and strengthen law enforcement to punish illegal activities.

At the same time, AI companies should also strengthen algorithm reviews, raise technical thresholds, and prevent AI face-swapping technology from flowing into illegal channels. Only by balancing technology and law can we curb the abuse of AI face-swapping technology and maintain order in cyberspace.

2. Industry News

1. Bitcoin briefly fell below $122,000, market sentiment shifted to cautious.

The price of Bitcoin briefly fell below the $122,000 mark on October 8, hitting a daily low of $120,800. This decline was mainly due to the overnight drop in U.S. stocks, as investor concerns about the profitability outlook for the artificial intelligence sector spread to tech stocks, which in turn affected the performance of risk assets like Bitcoin.

Analysts point out that although the price of Bitcoin recently broke through $126,000, it has not been able to completely break free from the key resistance level of $120,000. In the absence of new positive drivers, Bitcoin may oscillate within the range of $120,000 to $126,000 in the short term. Investor sentiment has also shifted from previous greed to caution, resulting in a decrease in market trading volume.

However, in the long run, Bitcoin, as the leader in the cryptocurrency space, will still see its price trends supported by continuous inflows of institutional funds and favorable regulatory policies. Once a significant positive development occurs, Bitcoin is expected to break through the current upper boundary of the range and rise above $130,000 again. However, it is also necessary to be cautious of the downward pressure from uncertainties such as geopolitical risks.

2. Ethereum faces pullback pressure, focus on the key support at $2000

The price of Ethereum encountered downward pressure on October 8, dipping to around 1950 USD during the day. This adjustment was mainly due to the short-term decline of Bitcoin, as well as investors' concerns about the subsequent effects of the Ethereum merger upgrade.

Analysts indicate that there is a relatively solid support zone for Ethereum's price around 2000 USD. As long as it does not effectively break below this level, Ethereum is still expected to find support in this area and is likely to break through the resistance level of 2200 USD in the coming weeks.

However, if the key support at $2000 is breached, Ethereum may further decline towards the next potential support area around $1800. At that time, investor sentiment may be significantly impacted, and trading volume and volatility may expand further.

In the long term, Ethereum, as the infrastructure for smart contracts and DeFi, still has promising development prospects. However, in the short term, the price of Ethereum may still be largely influenced by the movements of Bitcoin, and investors need to closely monitor Bitcoin's performance.

3. Solana continues to strengthen, analysts are optimistic about its long-term development potential.

Unlike Bitcoin and Ethereum, the Solana ecosystem exhibited strong upward momentum on October 8. The price of Solana reached a daily high of around $230, with an intraday increase of more than 5%.

Analysts believe that Solana's recent strong performance is primarily supported by favorable factors such as rapid ecosystem development and continuous inflow of institutional funds. Moreover, the market's expectation that Solana's spot ETF may be approved this week has also contributed to the upward momentum in its price.

In the long run, Solana, as an emerging high-performance public chain, has certain advantages in terms of low fees and high throughput, and is expected to play an important role in the future development of blockchain. Analysts predict that if the Solana ecosystem continues to develop rapidly, its price is expected to break the $500 mark within the next year.

However, Solana also faces some potential risks, such as network congestion and a relatively high degree of centralization. Investors should maintain a cautiously optimistic attitude towards its development prospects and closely monitor its ecological development dynamics.

4. XRP faces short-term downward pressure, but the long-term outlook remains controversial.

Unlike other mainstream cryptocurrencies, XRP showed some downward pressure on October 8th. The price of XRP fell to around $2.6 during the day, with a daily decline of over 3%.

Analysts point out that the recent downward pressure on XRP primarily stems from the ongoing uncertainty surrounding regulation. Although Ripple has made some progress in its lawsuit with the U.S. Securities and Exchange Commission, the final outcome of the case remains uncertain, which has affected investor sentiment.

However, some analysts are optimistic about the long-term prospects of XRP. They believe that regardless of the outcome of the lawsuit, XRP, as a pioneer in the cross-border payment sector, will still hold a place in future development. As long as regulatory policies become clearer, the price of XRP is expected to strengthen again.

Overall, the short-term trend of XRP may continue to be affected by ongoing regulatory uncertainties, and investors should exercise caution. However, in the long run, the development prospects of XRP are still worth paying attention to.

5. The performance of altcoins is diverging, and investors need to be wary of high risks.

On October 8th, the altcoin market showed a clear divergence in trends. Some popular altcoins such as Pepe and Doge performed strongly, with intraday gains exceeding 10%. However, many altcoins also experienced a decline, with intraday losses of over 5%.

Analysts indicate that the extreme volatility of altcoins mainly stems from their high dependence on market sentiment and concept speculation. Once positive or negative news emerges, the prices of altcoins often experience significant fluctuations.

At the same time, altcoins lack real use cases to support them, and their prices reflect more of speculative demand. Once the sentiment for speculation changes, the prices of altcoins may experience a sharp decline in the short term.

Therefore, for ordinary investors, investing in altcoins carries extremely high risks and requires heightened vigilance. It is recommended that investors pay appropriate attention to the trends of popular altcoins, but should avoid blindly following trends, strictly control their position size, and take profits in a timely manner.

6. The Bitcoin futures and options markets remain active, with institutional demand increasing.

While the spot market is showing signs of weakness, the Bitcoin futures and options markets exhibited a relatively active trading atmosphere on October 8. Data shows that the trading volume of Bitcoin contracts on major futures exchanges has increased, and the implied volatility in the options market has also risen.

Analysts believe that this phenomenon reflects a continuous increase in demand for Bitcoin among institutional investors. Against the backdrop of turbulence in traditional financial markets, institutional investors are more inclined to use tools such as futures and options to hedge risks, thereby participating in the Bitcoin market.

At the same time, active trading in the futures and options markets has provided a certain degree of liquidity support for the spot market. In the future, if institutional demand continues to grow, the spot price of Bitcoin is expected to gain further support.

However, some analysts remind that the overly speculative futures and options markets may exacerbate the short-term volatility of Bitcoin prices, and investors should pay attention to risk control.

7. The trading volume of cryptocurrency exchanges has declined, reflecting cautious market sentiment.

On October 8th, the overall trading volume of major cryptocurrency exchanges decreased compared to the previous day, reflecting an increase in cautious sentiment among market participants.

Data shows that the trading volumes of major exchanges such as Binance and Coinbase have all experienced varying degrees of decline on that day. Among them, Binance's trading volume decreased by about 10% compared to the previous day, while Coinbase's trading volume decreased by about 15%.

Analysts indicate that the decline in trading volume is primarily due to investors' concerns about the recent rise in the cryptocurrency market. In the absence of new positive catalysts, investors tend to adopt a wait-and-see approach, resulting in reduced trading activity.

However, some analysts believe that the decline in trading volume may just be a short-term adjustment and does not mean that the bull market is over. As long as favorable news emerges in the future, trading activity is still expected to heat up again.

Overall, the fluctuations in trading volume reflect changes in investor sentiment, and investors need to maintain a cautiously optimistic attitude while closely monitoring market trends.

8. The difficulty of Bitcoin mining is expected to further increase, and miner profits may be under pressure.

According to the latest data, the mining difficulty of Bitcoin is expected to rise by about 5% in the upcoming adjustment period. This means that miners will face increased difficulty in obtaining Bitcoin, and their earnings may come under some pressure.

Analysts point out that the continuous rise in Bitcoin mining difficulty is mainly due to the ongoing increase in miners' computing power. As more miners join the mining ranks, the overall network's computing power level continues to rise, resulting in an increase in difficulty.

At the same time, the recent fluctuations in Bitcoin prices have also had a certain impact on miners' profits. If the price of Bitcoin struggles to effectively break through the current range in the coming period, the profit margins for miners may be further constrained.

However, some analysts believe that the rising mining difficulty reflects the healthy development of the Bitcoin network, which helps to enhance the overall security and decentralization of the system. As long as Bitcoin prices can strengthen again in the future, the profit pressure on miners will also be alleviated.

Overall, miners need to closely monitor the changes in Bitcoin prices and mining difficulty, and appropriately adjust their mining strategies to ensure the sustainability of their profits.

9. Regulatory policies are tightening, and cryptocurrency exchanges are facing compliance pressure.

Recently, several countries and regions have introduced new regulatory policies aimed at cryptocurrency exchanges, increasing compliance requirements for these exchanges. This has brought a certain level of compliance pressure to cryptocurrency exchanges.

3. Project News

1. Sui leads a new wave of the Move ecosystem

Sui is a brand new blockchain network developed by Mysten Labs, aimed at providing high-performance and scalable infrastructure for the Web3 era. As the first public chain to adopt the Move programming language, Sui has attracted significant attention during the TOKEN2049 conference.

Sui has recently launched the SuiPlay gaming platform, which gathers multiple game applications built on Move. At the same time, the Sui ecosystem has attracted many well-known projects, such as Cetus and Navi. Sui's innovation lies in its use of a brand new parallel execution engine, capable of achieving throughput of up to millions of TPS, significantly enhancing blockchain performance.

Analysts believe that the emergence of Sui will promote the development of the Move ecosystem and bring more innovative applications to the Web3 era. The simplicity and efficiency of the Move language are expected to attract more developers to join, sparking a new wave of innovation. However, the current investable projects in the Sui ecosystem are limited, and it will still take time to incubate more star projects.

2. Aptos chain AI project Gensyn received tens of millions of dollars in financing.

Aptos is another public chain based on the Move language. Recently, its ecological AI innovation project Gensyn secured tens of millions of dollars in financing. Gensyn is committed to combining artificial intelligence with blockchain technology to bring new AI applications to the Web3 era.

The core of Gensyn is a decentralized AI computing platform that provides high-performance computing resources for various AI applications. The platform employs an innovative incentive mechanism to attract more computing power providers through a token economic model. In the future, Gensyn is expected to become the infrastructure for AI applications in the Web3 era.

Industry insiders believe that Gensyn represents a new trend in the integration of AI and blockchain. With the continuous development of artificial intelligence technology, its combination with blockchain will foster more innovative applications, bringing infinite possibilities to the Web3 era. However, the integration of AI and blockchain is still in its early stages, and whether pioneers like Gensyn can achieve success remains to be seen.

3. Arrum launches a new zero-knowledge proof protocol Anoma.

Arrum is one of the leading second-layer scaling solutions on Ethereum, and has recently launched a new zero-knowledge proof protocol called Anoma. Anoma aims to provide high privacy protection and scalability for the Web3 era.

Anoma adopts innovative zero-knowledge proof technology to verify transactions without disclosing any privacy. This not only significantly improves the level of privacy protection but also greatly enhances throughput. Anoma is expected to be applied in various fields in the future, such as privacy computing and anonymous voting.

Analysts believe that the emergence of Anoma marks the practical application of zero-knowledge proof technology in the Web3 field. Privacy protection and scalability are two major pain points in blockchain development, and Anoma is expected to provide strong solutions for them. However, zero-knowledge proof technology still has some limitations, and whether Anoma can successfully commercialize remains to be seen.

4. Solana eco-friendly new star secures tens of millions of dollars in financing

Solana is currently one of the most actively developed public chain ecosystems. Recently, emerging projects within this ecosystem have received funding of tens of millions of dollars, attracting widespread attention.

The project aims to provide distributed cloud storage solutions for the Web3 era. It adopts an innovative incentive mechanism, attracting more nodes to provide storage space through a token economic model. In the future, it is expected to become an important infrastructure within the Solana ecosystem.

Industry insiders believe that the emergence of this new star project marks the continuous growth of the Solana ecosystem. As a new generation of high-performance public blockchain, Solana is attracting an increasing number of excellent projects to settle in. The rise of this emerging project will further enrich Solana's application ecosystem. However, whether this emerging project can achieve substantial development remains to be seen over time.

5. Polygon's new rising star Planckx has secured millions of dollars in funding.

Polygon is one of the leading second-layer scaling solutions in the Ethereum ecosystem. Recently, the emerging project Planckx within this ecosystem secured millions of dollars in funding, attracting widespread attention.

Planckx aims to provide high-performance computing infrastructure for the Web3 era. The project adopts an innovative distributed computing architecture, which can provide efficient and scalable computing resources for various applications. In the future, Planckx is expected to become an important infrastructure within the Polygon ecosystem.

Analysts believe that the emergence of Planckx signifies the continuous growth of the Polygon ecosystem. As a leading scaling solution for Ethereum, Polygon is attracting an increasing number of excellent projects. The rise of new projects like Planckx will further enrich the application ecosystem of Polygon. However, whether emerging projects like Planckx can achieve substantial development remains to be seen over time.

4. Economic Dynamics

1. Spot gold breaks through the $4000 mark, setting a new historical high.

Economic Background: Against the backdrop of increasing global economic uncertainty, gold is highly sought after as a traditional safe-haven asset. According to the latest data, the annualized quarterly GDP growth in the United States for the third quarter rose by 2.6%, exceeding the expected 2.4%. However, inflation remains high, with the core PCE price index rising by 5.1% year-on-year in September, far above the Federal Reserve's target of 2%. The unemployment rate remains low at 3.5%, and the job market is still tight.

Important Event: Driven by rising risk aversion among investors, a weaker dollar, and expectations of further interest rate hikes by the Federal Reserve, the spot gold price has surpassed the $4000 per ounce mark, setting a new historical high. Previously, the U.S. government was caught in a funding deadlock, increasing the risk of a partial government shutdown, which further boosted the safe-haven demand for gold.

Market reaction: Investors are pouring into gold exchange-traded funds, with September seeing the largest monthly inflow of funds in over three years for gold ETFs. Institutional investors and central banks are also continuously increasing their gold positions to hedge against inflation and geopolitical risks.

Expert Opinion: Charu Chanana, a market strategist at Saxo Capital, stated: “The gold has broken through the $4000 mark, and behind this is not only panic but also the demand for asset reallocation. Currently, the release of economic data has paused, interest rate cuts are imminent, and real yields continue to decline, while stock valuations heavily weighted in the artificial intelligence sector have already appeared too high. Central banks around the world have laid the foundation for this upward trend, and now retail investors and ETF funds are driving gold prices into the next phase of increase.”

2. JPMorgan: The proliferation of stablecoins will drive demand for the US dollar.

Economic background: Against the backdrop of a sluggish global economic recovery and high inflation, the Federal Reserve continues to raise interest rates to curb inflationary pressures. In September, the U.S. non-farm payrolls increased by 263,000, far exceeding expectations, and the job market remains robust. However, the manufacturing PMI continues to contract, corporate confidence is weakening, and the risk of economic slowdown is increasing.

Important Event: JPMorgan released a report stating that as stablecoins rapidly gain popularity globally, it will trigger a surge of buying power amounting to trillions of dollars in the coming years, further strengthening the dollar's dominant position in the global financial system.

Market Reaction: Analysts believe that this trend will not accelerate “de-dollarization” but rather will drive up the demand for the US dollar. Investors have reacted mildly, with the dollar index rising slightly.

Expert opinion: JPMorgan analysts Kunj Padh, Meera Chandan, and Octavia Popescu stated: “Rather than saying stablecoins will accelerate de-dollarization, it is more likely that their growth will reinforce the role of the dollar in the global financial system.” They emphasized that this trend will not only not accelerate de-dollarization, but will further strengthen the dominant position of the dollar in the global financial system.

3. WTO Warning: Global trade growth may plummet by 72%, AI is the only highlight.

Economic Background: Under multiple pressures of geopolitical tensions, high inflation, and central bank interest rate hikes, the risk of a global economic slowdown is increasing. Both the World Bank and the International Monetary Fund have lowered their global economic growth forecasts for 2023.

Important Event: The latest report from the World Trade Organization shows that the growth rate of global goods trade is expected to plummet from 2.4% this year to 0.5% in 2026, a decline of 72%. The report points out that the delayed effects of Trump's new round of high tariffs, the end of the inventory cycle, and the cooling of the global economy may trigger a “cliff-like” drop in global trade next year.

Market reaction: Trade prospects are bleak, and US stocks and emerging markets may face pressure from capital outflows. However, the export volume of AI-related products has increased by over 20% year-on-year, becoming a major support for global trade growth.

Expert Opinion: Analysts state: “The structural weakness of global trade reveals the fragile reality of the post-globalization era - growth is no longer balanced, but is dominated by technological innovation and liquidity, leading to a 'dual-speed economy'. While the AI boom may extend the lifespan, trade fractures and policy frictions have already hinted at a repricing of medium- to long-term risks. The core issue for future markets is not whether growth can be sustained, but rather who can seize the dominant narrative in an era of liquidity contraction.”

5. Regulation & Policy

1. The U.S. Securities and Exchange Commission plans to launch an “innovation exemption” policy by the end of the year.

The Chairman of the U.S. Securities and Exchange Commission, Paul Atkins, recently stated that the agency plans to officially launch an “Innovation Exemption” policy by the end of 2025 or in the first quarter of 2026, to support businesses in the U.S. in conducting digital asset and other innovation technology-related operations.

The introduction of this policy aims to provide a clearer regulatory framework for innovative enterprises. For a long time, the SEC has relied on a “non-action” policy to regulate emerging technology sectors, which has brought uncertainty to companies. The innovation exemption will allow companies that meet certain criteria to engage in innovative activities in a regulated environment, creating a more favorable environment for industry development.

Atkins emphasized that despite the current U.S. government shutdown limiting the SEC's progress in rule-making, advancing the innovation exemption remains a top priority for the agency. He stated that the SEC will embrace innovation in a more open manner and praised Congress for its efforts in passing the GENIUS Act, which aims to establish a comprehensive regulatory framework for the cryptocurrency industry.

Industry insiders have welcomed this policy. Arianna Simpson, a partner at Andreessen Horowitz, stated that the innovation exemption will provide greater certainty for crypto companies and help attract more innovators and capital into the field. However, she also pointed out that the specific details and implementation of the policy will determine its actual impact.

Overall, the innovation exemption policy is seen as an important measure for the SEC to keep pace with technological advancements. As the influence of cryptocurrencies and other emerging technologies continues to grow in the financial sector, establishing clear regulatory rules will help maintain market order, protect investors' rights, and also leave room for innovation.

( 2. The Bank of England plans to provide exemptions for limits on corporate stablecoin holdings.

The Bank of England recently stated that it plans to adjust its previously proposed restrictive policy on corporate stablecoins, providing exemptions for specific companies, especially those cryptocurrency exchanges that need to hold large amounts of stablecoins.

Stablecoins are a type of cryptocurrency that is pegged to traditional currencies or other assets, aiming to maintain price stability. With the development of the cryptocurrency market, stablecoins are playing an increasingly important role in areas such as payments, settlements, and trading.

The Bank of England had previously planned to set the upper limit for personal holdings of stablecoins at £10,000 to £20,000, while the upper limit for corporate holdings would be £10 million. This restriction aims to control the potential risks posed by stablecoins, such as money laundering and financial stability issues.

However, this policy has faced strong opposition from the cryptocurrency industry. Many companies believe that such restrictions will put the UK at a disadvantage in the global cryptocurrency competition, as its regulation of the stablecoin industry is stricter than that of the US or the EU.

Under industry lobbying, the Bank of England has decided to adjust this policy. According to informed sources, the central bank will allow companies to use stablecoins as settlement assets in its “digital securities sandbox” so that they can observe the operation of stablecoins in practice while assessing the application prospects of this technology.

This policy shift indicates that the Bank of England has softened its stance on crypto assets, partly in response to increasing competitive pressure from the United States. The UK digital payments industry has been concerned that the UK will struggle to compete with the US's GENIUS Act, and the central bank's previous plans to place restrictions on stablecoins would further exacerbate this worry.

Peter Smith, the CEO of a UK fintech company, welcomed this. He believes that the central bank's new policy will provide a more favorable environment for UK businesses to compete in the global stablecoin market. However, he also pointed out that the specific details and implementation of the policy remain to be seen.

Overall, the adjustment of the Bank of England's stablecoin policy is seen as a signal of the UK's efforts to maintain competitiveness in the global cryptocurrency space. As the regulatory environment continues to evolve, further communication and coordination will be needed between businesses and regulators to seek a balance between promoting innovation and maintaining financial stability.

) 3. The U.S. Securities and Exchange Commission may approve a spot ETF for Litecoin and Hedera Hashgraph.

According to market news, the U.S. Securities and Exchange Commission ### SEC ### may approve a spot exchange-traded fund ( ETF ) that tracks Litecoin ( LTC ) and Hedera Hashgraph ( HBAR ).

An ETF is an investment tool that can track the performance of specific assets or indices. Cryptocurrency ETFs have been a hot topic in the industry because they can provide investors with a more convenient way to invest in cryptocurrencies, while also helping to promote the development and regulation of the cryptocurrency market.

According to the documents submitted by Canary Capital, the company plans to launch two new cryptocurrency ETF products that track Litecoin and Hedera Hashgraph, respectively. The documents disclose the trading codes and fee structures for these two ETFs, which analysts consider a signal of imminent approval.

Bloomberg senior ETF analyst Eric Balchunas ( stated that these details are usually the last updates before the “official launch.” Compared to spot Bitcoin ETFs, the 0.95% fee is “relatively high,” but for assets that are new to the ETF space and becoming increasingly niche, this higher fee is “quite normal.”

Bloomberg analyst James Seyffart ) also holds a similar view, believing that the Litecoin and Hedera Hashgraph ETFs “are already close to the finish line.”

If these two ETFs are approved, they will provide investors with more diversified cryptocurrency investment options. Litecoin is a branch of Bitcoin and is considered one of the earlier “altcoins,” while Hedera Hashgraph is an emerging distributed ledger technology platform.

However, some analysts are cautious about the prospects of these two ETFs. Matt Hougan, Chief Investment Officer of Wise Asset Management, stated that while the likelihood of SEC approval is high, a government shutdown could delay the approval process.

Overall, the launch of cryptocurrency ETFs is seen as an important milestone in the development of the cryptocurrency market. With the continuous improvement of the regulatory environment, it is expected that more cryptocurrency ETF products will be introduced in the future, providing investors with more diverse investment options.