Crypto ETPs recovered last week, recording $3.3 billion in inflows and lifting the overall assets under management to $239 billion. Crypto investment products reversed their recent outflow trends last week, with Bitcoin, Ether and Solana exchange-traded products (ETPs) recording significant inflows. Global crypto ETPs saw $3.3 billion in inflows last week, lifting overall assets under management (AUM) to $239 million, near the record high in August. Last month, crypto ETPs saw an all-time high AUM of $244 billion. The inflows came as underlying assets showed modest gains over the week. Bitcoin (BTC), which traded at $111,900 on Sept. 8, rose 3.3% to $115,600 on Friday. Ether (ETH) went from $4,300 to $4,500 last week, a 4.6% gain in five days. Read more
The State Bank of Pakistan (SBP) maintained its policy rate steady at 11 per cent on Monday for a third straight meeting as policymakers weighed inflation risks from flood-hit crops against a fragile economic recovery. After slashing the interest rate by 1,000 basis points (bps) from 22pc since June 2024 in seven intervals, the central bank has maintained it at 11pc since May. However, the business community had expressed disappointment over the decision. “The Monetary Policy Committee (MPC) decided to keep the policy rate unchanged at 11 per cent in its meeting today,” an SBP statement said. The MPC noted that inflation remained “relatively moderate in both July and August, whereas core inflation continued to decline at a slower pace”. “Economic activity — as captured by high-frequency economic indicators, including large-scale manufacturing (LSM) — gained further momentum. However, the near-term macroeconomic outlook has deteriorated slightly in the wake of the ongoing floods,” the committee noted. It cauti...
France’s securities regulator is considering attempting to ban European license “passporting” over concerns related to MiCA regulation enforcement gaps in other EU countries. France warned it may try to block cryptocurrency companies operating locally under licenses obtained in other European countries, raising enforcement gap concerns regarding the European Union’s crypto regulatory framework. France’s securities regulator, the Autorité des Marchés Financiers (AMF), told Reuters Monday that it is concerned about potential regulatory enforcement gaps related to Europe’s Markets in Crypto-Assets Regulation (MiCA), the world’s first comprehensive crypto regulatory framework. Concerned that some crypto companies may seek licenses in more lenient EU jurisdictions, the AMF is considering a ban on operating in France under MiCA licenses obtained in other member states. Read more