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Cryptocurrency updates on Oct 19: Bitcoin declines slightly; First Bitcoin Futures ETF to trade today

Cryptocurrency updates on Oct 19: Bitcoin declines slightly; First Bitcoin Futures ETF to trade today

Cryptocurrency updates on Oct 19: Bitcoin declines slightly; First Bitcoin Futures ETF to trade today
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By Oct 19, 2021 9:16:51 AM IST (Published)

Bitcoin declined slightly after the US SEC approved trading of the Bitcoin Futures ETF. Here's a snapshot of the crypto market as of Tuesday:

The crypto market is trading mixed on Tuesday morning, with Bitcoin trading half a percent lower at $61,887. The coin has surged nearly 9 percent in the past seven days, having closed at the highest weekly close of 61,217 last Sunday.

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The coin is close to an all-time high but underwent some profit booking as investors reacted to the US regulators approving a futures-based exchange-traded fund (ETF).
Ether, the number two coin, has also declined 1.75 percent in the past 24 hours. While other altcoins like Binance Coin traded over 4 percent higher. Coins like Cardano and Ripple XRP also slipped over 2 and 1 percent, respectively. Polkadot has also declined over 4.5 percent. However, Dogecoin is breaking the momentum and surged over 3 percent.
A. Top 10 cryptocurrencies by market cap
CryptocurrencyCurrent market price24-hour change
Binance Coin$4914.03%
USD Coin$10.03%
As per data from, the crypto market's total market cap on Tuesday declined nearly 1 percent to $2.48 trillion. Meanwhile, Bitcoin’s dominance in the market increased 0.11 percent to 46.96 percent.
B. Cryptocurrency top news
SEC gives go-ahead to Bitcoin Futures ETF
The US Securities and Exchange Commission (SEC) gave a go-ahead to the launch of Bitcoin futures. ProShares will launch its bitcoin futures ETF on the New York Stock Exchange on Tuesday. It's the latest milestone for Bitcoin and for the ETF industry in general. A Bitcoin Futures ETF is a regulated financial product that allows investors to participate in the crypto market indirectly.
Must modernise and adapt to cryptos: US Treasury
The Treasury Department of the United States has issued a review on the sanctions digital assets and suggested the government develop infrastructure and policies. It said the growing use of these digital currencies is harming the implementation of sanctions.
Institutional managers hold a record $72.3 billion of crypto
Per the latest CoinShares report, the institutional inflows in crypto products rose last week. The assets held by institutions surged to $72.3 billion, the highest level on record.
Four-year-old's crypto profits
Back in 2017, a crypto entrepreneur João Canhada bought one Bitcoin for his newborn daughter. The coin worth $915 at the time has surged over 6,000 percent in the past four years.
Tether fined $40 million over 'misleading statements'
According to a report by CoinMarketCap, Tether, the number five crypto and number 1 stablecoin was fined over $41 million for making "untrue or misleading statements". Commodity Futures Trading Commission said the coin was not fully backed by USDT during June 2016 and June 2019.
C. Top 3 trending crypto assets
CryptocurrencyCurrent market price24-hour gain
Taboo Token$0.0126329%
Binance Coin$491.304%
D. Top 3 losers
CryptocurrencyCurrent market price24-hour gain
Based Gold$0.01804-67%
Red Floki$0.000000002706-53%
E. Top 3 gainers
CryptocurrencyCurrent market price24-hour loss
 (Data is sourced from
(With inputs from agencies)
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