The first line | The altcoin market pullback, Litecoin has been rising for a week

Daily Digest: SEC confirms acceptance of DOGE ETF application, Litecoin may become the next approved crypto ETF

According to Farside Investors data, yesterday, the net outflow of the US Bitcoin spot ETF was 183 million US dollars, with grayscale GBTC net outflow of 6.9 million US dollars, and Fidelity FBTC net outflow of 94.5 million US dollars; the net inflow of the US Ethereum spot ETF was 800,000 US dollars, with grayscale ETHE net outflow of 3.8 million US dollars, and Fidelity FETH net inflow of 4.6 million US dollars.

The SEC has confirmed that it has accepted the DOGE ETF application

The U.S. Securities and Exchange Commission (SEC) has confirmed that it has accepted the 19b-4 application submitted by Grayscale and the New York Stock Exchange to establish a DOGE ETF.

View: Tether may need to sell Bitcoin to comply with proposed US stablecoin regulations

JPMorgan analysts say Tether may need to sell some non-compliant assets—including bitcoin, precious metals, commercial paper, and secured loans—to comply with proposed US stablecoin regulations.

The U.S. has proposed two stablecoin bills: the Stablecoin Transparency and Accountability Act (STABLE Act) in the House of Representatives and the U.S. Stablecoin Innovation Bootstrapping and Building Act (GENIUS Act) in the Senate, which aims to regulate stablecoin issuers through licensing requirements, risk management rules, and 1:1 reserve support.

According to the STABLE Act of the House of Representatives, Tether only has 66% of the reserves that meet the requirements, while according to the GENIUS Act of the Senate, the proportion of reserves that meet the standards is 83%.

Bloomberg Analyst: Litecoin ETF may become the first approved new crypto ETF

On February 14, Eric Balchunas, a senior ETF analyst at Bloomberg, responded on social media to a question about "the current progress of the approval of major altcoin ETFs": "In baseball terms, most of them are still on first base, except for Litecoin, which is going to third base."

Market analysis: BTC continues to fluctuate, and Litecoin has risen for a week

Market Hotspots:

Litecoin has been influenced by the news of the upcoming ETF approval, with a continuous rise for a week, rising from a low of $80 at the beginning of this month to $126.07 as of the time of publication;

UniLayer token has surged by 2208.24% in the past 24 hours. Unilayer is a multi-chain DEX trading platform based on AMM, providing advanced trading tools for professional traders, along with Launchpad functionality.

Market trend:

BTC continues to fluctuate, the US BTC spot ETF has seen net outflows for 5 consecutive days, and has been fluctuating in the range of 94,000 to 98,000 throughout this week.

ETH follows the market trend obviously, resonates with the overall market, and the activity of the US ETH spot ETF funds continues to weaken;

Most of the altcoins experienced a slight pullback, with the PayFi sector rising against the trend. The leading project XRP saw a 3.38% increase in the past 24 hours, while Litecoin(LTC) rose by 2.54% and Telcoin(TEL) surged by 13.22%.

Macro News: The sentiment in the US stock market has clearly improved, and the PCE data has shown a moderate increase.

The sentiment in the US stock market has clearly improved, with all three major indices closing higher. The S&P 500 rose by 1%, the Nasdaq rose by 1.5%. At the close, the Dow Jones Industrial Average rose by 0.77% to 44,711.43 points; the S&P 500 rose by 1.04% to 6,115.07 points; the Nasdaq rose by 1.50% to 19,945.64 points;

President Trump signed a presidential memorandum on Thursday proposing to implement equivalent tariffs, but did not do so immediately, easing some investors' concerns. U.S. Commerce Secretary nominee Lutnick predicted that the new tariffs would be implemented on April 2.

Pre-market data released on Thursday showed that the US PPI increased by 0.4% month-on-month in January, higher than the market expectation of 0.3%; Core PPI, which excludes food and energy, rose 0.3%, in line with expectations. While the latest PPI data remains high overall, the categories associated with the PCE data have seen a more modest increase. The PCE price index is an inflation indicator that the Federal Reserve keeps a close eye on.

Author: Orisi T., Gate.io Researcher The text represents only the author's point of view and does not constitute any trading advice. Investment carries risk, and decisions should be made cautiously. This article is original content, and the copyright belongs to Gate.io. Please indicate the author and source if you need to reprint, otherwise legal responsibilities will be pursued.