eToro has announced the launch of spot trading for cryptocurrencies in Germany, collaborating with local companies DLT Finance and Tangany. This article will discuss this news as well as other significant crypto market updates.
New Phase for eToro in Germany
eToro in Tel Aviv, Israel, has announced the launch of spot trading in Germany in partnership with local firm DLT Finance. For custody services, eToro joins forces with Tangany. Both local firms are registered with the regulator BaFin. In recent quarters, significant growth in company registration and crypto adoption has been observed in Germany. Once the partnership is live, users will be asked to agree to the terms and conditions and privacy policies of DLT Finance, Tangany, and eToro to buy or sell crypto assets. The current transaction fee is 1%; however, it may change in the future. In September, eToro also agreed to pay $1.5 million to the U.S. Securities and Exchange Commission to settle charges of operating as an unregistered broker and clearing agency.
Bitcoin ETF Market and Its Participants
In the past 78 hours, the Bitcoin ETF category has witnessed significant traction, with a surge in inflows. FBTC ETF tops the list with an inflow of $24.03 million. At the same time, GrayScale's ETF is struggling, while BlackRock's IBIT ETF continues to expand its dominance. On September 24, 2024, the SEC filed a lawsuit against Anthem Holding Co. and its CEO for defrauding investors, leading to losses exceeding $5 million. Larry Fink, CEO of BlackRock, discussed with CNBC his belief that Bitcoin will reach $100,000, terming it a legitimate investment.
Crypto Market Updates
As of writing, the cryptocurrency market capitalization was $2.25 trillion with an intraday surge of 1.1%; the fear and greed index powered by CoinMarketCap was at 51, reflecting neutral sentiment. In the past 24 hours, Bitcoin's price grew 0.51%, trading at $63,521, with a significant seven-day surge of 8.21%. BTC's market dominance continues to grow, reaching 56.53%. Following the recent FED announcement, the cryptocurrency market is on a bullish path, growing roughly 2.20% in 78 hours.
The launch of eToro's spot trading in Germany marks an important step in the company's international expansion. Meanwhile, the crypto market continues to show dynamic growth and development, despite instances of fraud and regulatory challenges.
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