SEC approves first leveraged long MicroStrategy ETF
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The ETF's approval by the SEC offers U.S.-based traders increased leveraged exposure to bitcoin through MicroStrategy, which holds a significant bitcoin portfolio.
MSTX is designed to amplify investment potential for those seeking high-risk, leveraged exposure to bitcoin within an ETF format.
Defiance ETFs specializes in thematic and leveraged ETFs, including those targeting blockchain, AI, machine learning and quantum computing sectors.
MicroStrategy holds 226,500 bitcoin with an average purchase price of $35,158 per bitcoin, making it a key player in the bitcoin market.
U.S. spot bitcoin ETFs saw significant outflows on Wednesday, with Grayscale's GBTC experiencing the largest outflows, while BlackRock's IBIT and Franklin's EZBC were the only funds to record inflows.
Binance re-enters India
Binance announced that its website and app are now fully available to Indian users, emphasizing its commitment to complying with anti-money laundering standards in India.
Binance’s CEO, Richard Teng, stated that the alignment with Indian regulations allows the exchange to better serve the Indian VDA market.
Binance's re-entry into India follows a penalty of 188.2 million Indian Rupees ($2.25 million) imposed by the FIU for previous violations of the country’s Prevention of Money Laundering Act, which the exchange has confirmed paying.
ETH, SOL exhibit heightened price sensitivity amid wider market caution
The crypto market remains subdued despite cooler inflation data, and bitcoin and ether reacted negatively due to diminished hopes of a more dovish rate cut by the Federal Reserve.
The CME FedWatch tool indicates a 62.5% probability of a 25 basis-point rate cut by the Fed next month, which could support risk-on assets like bitcoin and ether.
BRN analyst Valentin Fournier views the current market dip as a strategic buying opportunity, expecting bitcoin to rebound to a $65,000 to $68,000 range driven by upcoming rate cuts and easing pressure on risk assets.
Spot bitcoin ETFs see $81 million exit
BlackRock’s IBIT and Franklin’s EZBC were the only bitcoin ETFs to record inflows, with $2.68 million and $3.42 million, respectively, while six other bitcoin ETFs recorded zero flows.
Spot ether ETFs continued their positive streak, with $10.77 million in net inflows on Wednesday, led by BlackRock’s ETHA with $16.13 million, while Grayscale’s ETHE was the only fund to post outflows at $16.95 million.
The total trading volume of the nine spot ether ETFs dropped to $155.91 million on Wednesday, compared to $190.76 million on Tuesday and $285.96 million on Monday.
Uniswap Labs's $2.35 million auditing competition
The v4 release introduces new features like "hooks," allowing for customizable liquidity pools and aims to reduce transaction costs by consolidating all liquidity pools into a single contract.
The auditing competition will start on Sept. 4, with rewards based on the severity of disclosed vulnerabilities and the quality of submission documentation.
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