Crypto Declines; Another Bitcoin ETF Filed With the SEC

Bitseven.com – Cryptocurrency prices drifted lower on Tuesday, although Bitcoin was holding near a two-week high of $3,600.

Bitcoin decreased 0.47% to $3,622.90 as of 8:08 AM ET (13:08 GMT) on the Investing.com Index.

Cryptocurrencies overall were slightly lower with the total coin market capitalization at $120 billion at the time of writing compared to $121 billion on Monday.

Ethereum fell 0.3% to $121.52 and XRP slipped 0.5% to $0.30215 while Litecoin was at $43.59, down 2% after jumping over 1% on Monday.

Meanwhile, Reality Shares filed for an exchange traded fund with the U.S. Securities and Exchange Commission on Monday.

The ETF fund, a unit of fintech company Blockforce Capital, would include sovereign debt instruments as well as Bitcoin futures.

Chances of it operating anytime soon are slim, as the SEC has yet to approve an ETF based on Bitcoin futures.

In other news, Hester Pierce, a U.S. Securities and Exchange Commission (SEC) Commissioner, offered some support for digital assets during a speech on Friday.

“We rightfully fault investors for jumping blindly at anything labelled crypto, but at times we seem to be equally impulsive in running away from anything labelled crypto,” she said.

Pierce is often referred to as the Crypto Mom for her support of alternative currencies and general positive comments on the sector. She said regulators should allow blockchain projects to mature, as hastily-drafted regulations could harm the asset class.