# soso web3 daily is your quick update on crypto market highlights. stay informed of market trends, bitcoin etf flows, sector rotations, and curated industry insights. this will help you make more informed investment decisions.
- **market highlights**
- bitcoin slides to $36.1k following etf news: crypto market impact
- bnb rebounds from early leak of sec charges against binance

### **crypto market overview:**
*after hitting $36,500 last week following the approval of ishares's btc etf applications and anticipation over potential blackrock approval as early as today (for which it later declined), crypto assets extended losses as investors reacted to fluctuations in china markets due to property developer evergrande's bankruptcy filing.*
*bitcoin slid nearly 4% overnight indicating that major companies are planning to increase their stake in grayscale bitcoin trust for financial institutions despite selling at a wider discount than previously with ceo mike novogratz urging regulators not register ark fund amidst clashing interests because this could expose both parties getting rich by going public instead simply investing passively.*
*ethereum also dropped around 5%. after responding positively whether black rock owns any percentage grayscale trust; other top major coins including solana & xrp saw even bigger declines while others such cardano kept people guessing what would happen next once blk sells ark inc.*
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