Traders Shift Focus to Ether as Bitcoin Rallies, IBM Releases Cryptographic Signing Technology

According to CoinDesk, key derivatives market metrics indicate that sophisticated traders are shifting their focus from bitcoin (BTC) to ether (ETH), suggesting a potential outperformance of Ethereum's native token in the coming weeks. Bitcoin has seen a 60% rally this quarter, while ether has only gained 35%. The performance gap is even wider over larger time frames, with bitcoin boasting a 163% year-to-date gain versus ether's 89%. IBM has released a cryptographic signing technology for handling digital assets in cold storage, reducing the risks associated with manual procedures while keeping assets at arm's length from an internet connection. The IBM Hyper Protect Offline Signing Orchestrator (OSO) aims to protect high-value transactions by offering additional security layers, including disconnected network operations, time-based security, and electronic transaction approval by multiple stakeholders. IBM has been applying its expertise in key management and confidential computing technologies to digital assets and cryptocurrencies in recent years. Asset manager BlackRock and crypto investment firm Bitwise both filed amended S1 forms with the Securities and Exchange Commission (SEC) on Monday, answering further questions likely asked by the regulator in earlier conversations. While it is unclear which topics the SEC asked applicants to provide further information for, analysts had predicted that changes to the prior filings would be made following several meetings between the SEC and applicants last week. The filings signal that both parties are working hard to iron things out, according to Bloomberg Intelligence's James Seyffart. Amendments by the other 11 applicants, including Fidelity, Franklin, and WisdomTree, are expected to follow soon.