This category covers crypto market news today, including crypto index trends, major exchange data, capital flows, sentiment shifts, regulation impact and crypto’s interaction with traditional finance. Designed to help you understand the forces driving valuation across tokens, sectors and regions.
The US SEC approved the Grayscale Ethereum Mini Trust and ProShares Ethereum ETF on Wednesday with trading expected to commence next week.
On July 17, BlackRock’s Bitcoin ETF, known as IBIT, recorded the highest inflow in a single day, bringing in a total of $110.37 million.
BlackRock’s IBIT emerged as the frontrunner, attracting a staggering $117.25 million in net inflows on Monday, marking it as the most actively traded Bitcoin ETF with $1.24 billion in trading volume.
The traction that IBIT has garnered helped it to outshine GBTC significantly in terms of inflows.
Analysts agree that the launch of ETH spot ETFs could act as a major catalyst for Ethereum price in the coming months.
Culper Research recently published a report, accusing Iris Energy of insufficient capacity for AI and HPC at its Childress site.
Justin Sun is just one of many whales accumulating Ether ahead of the potential Ethereum spot ETF approval in the coming days.
Despite the positive inflows, the overall trading volume on spot Bitcoin ETFs remains considerably lower compared to the peak in March and April 2024, when daily volumes surpassed $12 billion.
The influx of capital into spot Bitcoin ETFs seemingly coincided with a positive price movement for the underlying asset. Bitcoin rose 2.70% in the past 24 hours.
City State Bank’s 13F filing dated July 8, 2024, shows that the bank acquired 33 units of the BlackRock iShares Bitcoin Trust (IBIT).
With the launch of the spot Ethereum ETF trading approval in view, Ethereum price has started kicking off.
Lisa Wade, CEO of DigitalX, believes the launch of their Bitcoin ETF “will attract new entrants into the market and ultimately allow institutions to include Bitcoin and digital assets into strategic asset allocations”.
While the US crypto ETF market recorded impressive daily inflows on Monday, the global sentiment was different. In Hong Kong, Bitcoin spot ETFs saw less than $200 in daily inflows.
The price action of Solana (SOL), the fifth-largest digital asset by market capitalization, jumped more than 7% in the past 24 hours after the news of the filing.
The SEC is yet to acknowledge the Solana ETF filings from both VanEck and 21Shares. ETF analyst Nate Geraci highlighted that when these acknowledgments finally come, the decision clock will begin to tick.