SBF Faces Legal Consequences, Major ETF Developments in Crypto and Market Move Analysis

By: Isha Das

In the cryptocurrency landscape, mixed performances are observed with Bitcoin showing a slight upward trend. Memes and Bitcoin-beta have been outperforming other sectors. Among top 100 gainers include Bitcoin Cash (BCH), Dogecoin (DOGE), GateToken (GT) and Arweave (RBN).

Notably, ETFs have seen substantial inflows accumulating $244m, led by Ark. BlackRock's ETF marks its name as the fastest-growing in history, as per Fink. A possible Ethereum (ETH) ETF, even if regarded as a security, is on the horizon. However, the chances of an Ethereum spot ETF by May are pegged at only 20% by GSR.

In legal news, Sam Bankman-Fried (SBF), a prominent figure in the crypto space, faces sentencing today and may face up to 50 years. Details of his prison arrangement suggest minimal security and proximity to his family in the San Francisco Bay Area.