● Analysis: Market optimism grows over US approval of Ethereum ETF
According to Bloomberg, the cryptocurrency market has become more optimistic that the U.S. securities regulator may approve an exchange-traded fund (ETF) that directly invests in and starts trading Ethereum. If the Ethereum ETF is approved, it will be easier for retail investors to trade the top two cryptocurrencies. Ethereum is the most widely used commercial blockchain. ETFs are very popular in the United States because they make investing simple. The launch of Bitcoin ETFs is considered a breakthrough because they actually hold Bitcoin instead of investing in Bitcoin futures.
● Bloomberg Terminal has added some Ethereum ETFs in preparation for trading next week
According to BlockBeats, on July 19, Bloomberg analyst James Seyffart said on social media that some Ethereum ETFs were added to the Bloomberg terminal today. Including Bitwise's ETHW, 21Shares' CETH and Fidelity's FETH. Other funds are likely to be added tomorrow and Monday. Trading is still scheduled to start next week.
●Grayscale Mini Ethereum ETF Fees Drop to 0.15%, Becoming the Lowest Fee Ethereum Spot ETF
According to BlockBeats, on July 19, Grayscale published an SEC document on social media showing that its Mini Ethereum ETF fee was only 0.15%, making it the Ethereum spot ETF with the lowest fee. In addition, Grayscale also reduced the fee of the ETF to 0% for the first 6 months.
● Reddit community survey results show that Mt. Gox creditors are not in a hurry to sell Bitcoin
According to Odaily Planet Daily, according to a survey poll in the Mt.Gox sub-forum of the Reddit community, creditors of the hacked cryptocurrency exchange Mt.Gox are not in a hurry to sell their Bitcoin. The survey results show that about 260 Mt.Gox creditors (56% of the 467 survey participants) plan to continue holding Bitcoin after receiving compensation, and only 88 respondents (about 20% of all survey members) said they would sell all the BTC paid. This survey may reflect the overall sentiment of investors on the Mt.Gox forum.
● Analysis: Bitcoin ETFs have a 4-8 times greater impact on prices than miners
According to Odaily Planet Daily, research and analysis show that during market sell-offs, miners have less and less influence on BTC price movements. Glassnode disclosed data showing that centralized exchanges and US spot Bitcoin exchange-traded funds (ETFs) have the greatest influence on BTC price movements. As of July 2024, centralized exchanges still hold more than 3 million BTC, while spot Bitcoin ETFs manage 887,000 BTC, compared to about 705,000 BTC held by miner-associated wallets. Glassnode said this shows that the impact of Bitcoin ETF physical fund flows on the market may be about 4 to 8 times higher than that of miners.
● Initial jobless claims in the U.S. for the week ending July 13 reached 243,000
According to Odaily Planet Daily, the number of initial unemployment claims in the United States for the week ending July 13 was 243,000, which was expected to be 230,000 and the previous value was 222,000. The four-week average of initial unemployment claims in the United States for the week ending July 13 was 234,750, and the previous value was 233,500. It is reported that the number of initial unemployment claims in the United States for the week ending July 13 was 243,000, the highest since the week of June 8.
