Cryptocurrencies are poised to finish the 7-day week ending Friday, February 1st broadly negative with all but one of the 20 largest cryptocurrencies by market capitalization in the red. In the last 7 days, Bitcoin (BTC) is down 3.02% to USD$3,480, Ripple (XRP) is down 2.39% to USD$0.307869, and Ethereum (ETH) is down 8.18% to USD$106.85. Litecoin (LTC) moved against the broader crypto market this week, up 0.74% since last Friday to USD$32.76. Stellar (XLM), meanwhile, posted the largest declines among major coins this week, down 17.80% in the last 7 days to USD$0.083003.
Headlining cryptocurrency market news this week was the Chicago Board Options Exchange (CBOE), who resubmitted its joint BTC ETF application with VanEck and SolidX to the US Securities and Exchange Commission (SEC). The SEC will have 240 days to review the application once posted to the Federal Register, which has yet to happen. Binance made headlines this week as well when the world’s largest crypto exchange announced a new feature allowing users to purchase cryptocurrencies with a credit card. Also this week, Bloomberg reported that Fidelity Investments could launch its BTC custody service as early as March. Finally, Boerse Stuttgart Group, Germany’s second-largest stock exchange, launched Bison this week, a mobile application where users can trade cryptocurrencies.