The post Tuttle’s Government Grift ETF Could Launch This Week appeared on BitcoinEthereumNews.com. An exchange-traded fund tracking the trading activity of American politicians, individuals and companies with close ties to the US president could launch later this week, according to an analyst.  Bloomberg ETF analyst Eric Balchunas said that Tuttle Capital Government Grift ETF (GRFT) could launch as early as Friday, as the Securities and Exchange Commission on Monday set Oct. 3 as the date that Tuttle’s S-1 registration statement will become effective. First proposed by Tuttle Capital Management earlier this year, the ETF would scan STOCK Act transaction reports to track trades made by members of Congress and their spouses. The fund would also invest in companies with demonstrated ties to presidential influence, which may include companies with executives or directors affiliated with the White House, or businesses that receive praise from the US president, currently Donald Trump. GRFT would track between 10 and 30 stocks and ETFs, with position sizes reflecting both the scale of congressional trading and the perceived influence of presidential backing. “The Fund’s strategy is grounded in the belief that political actors — particularly members of the US Congress and individuals closely associated with the President — can influence market outcomes or possess information that materially affects security pricing,” Tuttle said in the prospectus filing in late June. Source: Eric Balchunas Cointelegraph reached out to Tuttle to find out more, but didn’t receive an immediate response. Crypto could be in Tuttle’s fund Trump’s involvement in cryptocurrency has been well-documented — and heavily criticized by some.  One of Trump’s connections to the crypto industry is Trump Media & Technology Group (DJT), which holds 15,000 Bitcoin (BTC) worth $1.7 billion, while its subsidiary Truth Social has had spot crypto ETFs filed on its behalf. Bitcoin mining company American Bitcoin Corp (ABTC) is another publicly traded stock that is backed by… The post Tuttle’s Government Grift ETF Could Launch This Week appeared on BitcoinEthereumNews.com. An exchange-traded fund tracking the trading activity of American politicians, individuals and companies with close ties to the US president could launch later this week, according to an analyst.  Bloomberg ETF analyst Eric Balchunas said that Tuttle Capital Government Grift ETF (GRFT) could launch as early as Friday, as the Securities and Exchange Commission on Monday set Oct. 3 as the date that Tuttle’s S-1 registration statement will become effective. First proposed by Tuttle Capital Management earlier this year, the ETF would scan STOCK Act transaction reports to track trades made by members of Congress and their spouses. The fund would also invest in companies with demonstrated ties to presidential influence, which may include companies with executives or directors affiliated with the White House, or businesses that receive praise from the US president, currently Donald Trump. GRFT would track between 10 and 30 stocks and ETFs, with position sizes reflecting both the scale of congressional trading and the perceived influence of presidential backing. “The Fund’s strategy is grounded in the belief that political actors — particularly members of the US Congress and individuals closely associated with the President — can influence market outcomes or possess information that materially affects security pricing,” Tuttle said in the prospectus filing in late June. Source: Eric Balchunas Cointelegraph reached out to Tuttle to find out more, but didn’t receive an immediate response. Crypto could be in Tuttle’s fund Trump’s involvement in cryptocurrency has been well-documented — and heavily criticized by some.  One of Trump’s connections to the crypto industry is Trump Media & Technology Group (DJT), which holds 15,000 Bitcoin (BTC) worth $1.7 billion, while its subsidiary Truth Social has had spot crypto ETFs filed on its behalf. Bitcoin mining company American Bitcoin Corp (ABTC) is another publicly traded stock that is backed by…

        Highlights:  The BNB price is down 2% to $1111.46, despite the trading volume spiking 26%. The BNB on-chain demand has slipped, with the open interest plummeting 3% showing a drop in demand.  The technical outlook shows a tight tug-of-war, with the bulls attempting to overcome resistance zones.   The BNB price is down 2% today, to trade at $1111.46. Despite the plunge, the daily trading volume has soared 26% showing increased market activity among traders. However, BNB Chain has seen declining network activity, with the open interest plummeting, signaling a drop in demand.  On Chain Demand on BNB Cools Off The BNB Chain is in a state of cooldown of network activity, which indicates low on-chain demand. In most instances, when a network fails to ensure large volumes or revenues, it means that there is low demand or outflows to other networks.  BNB DeFi Data: DeFiLlama According to DeFiLlama data, the volume of the Decentralized Exchanges (DEXs) is down to at least $2.12 billion in comparison to the high of $6.313 billion on October 8, which also means low on-chain liquidity.  On the other hand, Coinglass data shows that the volume of BNB has grown by 3.97% to reach $4.95 billion. However, the open interest in BNB futures has dropped by 3.36% to reach $1.74 billion. This reduction in open interest is an indication of a conservative stance by investors since the number of new positions being opened is low. This could be an indication that investors are not so sure about the short-term price outlook. BNB Derivatives Data: CoinGlass Meanwhile, the long-to-short ratio is sitting at 0.9091. This shows that the traders are undecided on BNB price’s next move, as it sits below 1.  BNB Price Moves Into Consolidation The chart displays the BNB/USD price action on a 4-hour timeframe, with the token currently hovering around $1111.46. The 50-day Simple Moving Average (SMA) is at $1113, while the 200-day SMA sits at $1129, cushioning the bulls against upside movement. The price has mostly been trending below both SMAs, indicating that the bears are having the upper hand.  The BNB trading volume is up, soaring 26%, signaling the momentum is real. On the 4-hour chart, BNB is trading within a consolidation channel. In such a case, this pattern may act as an accumulation period, giving the bulls hind wings to break above resistance zones.  BNB/USD 4-hour chart: TradingView Zooming in, the Relative Strength Index (RSI) sits at 44.15, below the 50 level. This shows weakening momentum in the BNB market, and might lead to the RSI plunging to the oversold region if the bulls don’t regain control. In the short term, the BNB price could move up to $1113 resistance and flip it into support. A close above this zone will see the bulls target $1126 resistance, giving the bulls strength to reclaim the $1230 mark.  Conversely, if the resistance zones prove too strong, a dip towards $1012 could be plausible. In such a case, this could be a prime buy zone for the risk-takers. In the long term, if the token keeps the hype alive, the bulls may reclaim the $1375 high or higher.    eToro Platform    Best Crypto Exchange   Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users    9.9   Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.