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What happened in the crypto world after the Spot Ethereum ETF clones? What did you experience? Let’s take a look at this historical day together.
Crypto Exchange’s Developments Following Ethereum ETF Approval
– OKX, a Meme mod has been launched for the Web3 budget of mobile money.
– In case you extend the deposit and withdrawal period to support network augmentations and hard forks of Binance, CTK and RIF networks.
– OKX revives OKXRacer, a Telegram mini-app where users can predict price movements to earn points.
II. Main Projects and Trending Events
– Crypto exchange WOO X allowed users to withdraw daily interest from US Treasury wireline yield vaults.
– US SEC announced spot Ethereum ETF forms of 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck, Invesco Galaxy and Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust.
– Crypto algorithm trading firm Wintermute predicts that Ethereum ETFs could see up to 4 billion inflows in a year.
– Bitwise, which received listing approval for the Ethereum spot ETF from NYSE Arca, also announced that it will donate 10% of its ETHW fund profits to Ethereum open source developers in the future.
– Cryptocurrency ETP provider 21Shares has filed an S-1 document for the Solana spot ETF.
– Lumio, a comprehensive technology suite, announced the launch of its Layer 2 solution, finally delivering parallel EVM, on Solana’s public devnet.
– US Senator Cynthia Lummis hinted at a major Bitcoin-related announcement in a tweet this week.
– Blockchain-based asset management company Superstate has launched a new tokenized fund that profits from arbitrage trading in BTC and ETH.
– Vitalik Buterin praised the decentralized forecasting platform Polymarket for its impressive performance and contribution to collective decision-making.
– TON chain active addresses reached 373,000, an increase of 5360% compared to the previous year.
– TON Foundation has partnered with Animoca Brands’ Mocaverse to run a 20 million global ecosystem development fund.
– Bitcoin staking protocol Babylon plans to launch its mainnet between late July and early August.
– New proposals for the decentralized perpetual exchange GMX suggest changing the profit making model from “buying back ETH and distributing ETH” to “buying back GMX and distributing GMX”.
You may be interested in: A Historic Day: Spot Ethereum ETFs Approved!
III. Financing News
– zkRollup network Zircuit has supplemented its mainnet knowledge with benchmark investments such as Binance Labs and Amber Group.
– NPC Labs, a company on the Web3 gaming site founded by a former Coinbase employee, raised 21 million in a two-dollar round of funding.
IV. News from Regulators
– Arkham data shows that an address labeled “US funding: Ryan Farace Seized Funds (3B2jE)” deposited 58,742 BTC (approximately $3.96 million) by Coinbase Prime Deposit.
Ethereum ETF Overview
ETH is included in the market prices of the ETF’s members. There are important events that will occur during market fluctuations:
1. Donald Trump and Elon Musk’s presentation to the BTC conference on July 27 may bring important announcements regarding BTC.
2. Continuing Mt. Expected BTC price depletion due to Gox refund.
BTC is facing resistance between $71,000-72,000. Currently, BTC is more likely to undergo a change in the $64,000-65,000 range to consolidate gains from $61,000 to $68,474.
With the approval of ETH spot ETFs, ETH may have the potential to approach or exceed its highest level in history; it could potentially approach $5,000 and the target could be $9,000.
How All Developments Were Reflected on BTC Spot ETF
General Data:
– Net Inflow: $17.59 billion
– Daily Net Inflows: $533.57 million
– Single Day Turnover: 1.62 billion dollars
– Market Cap Rate of BTC: 4.63%
Distribution by ETF:
GBTC:
– Net Asset Value: $18.57 billion (0%)
– Single Day Net Entries: $0
– Cumulative Net Outflows: $18.69 billion
– Single Day Turnover: $199 million
IBIT:
– Net Asset Value: $22.72 billion (+2.37%)
– One dollar Daily Net Inflows: 526.7 million
– Cumulative Net Output: $19.5 billion
– Single Day Turnover: $927.78 million
FBTC:
– Net Asset Value: $12.28 billion (+0.19%)
– Single-Day Net Inflows: $23.72 million
– Cumulative Net Inflows: $9.99 billion
– Single Day Turnover: $297 million
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