The U.S. Securities and Exchange Commission has approved the first batch of spot Ethereum ETFs and notified at least two of the eight companies, including BlackRock and VanEck, that these products will begin trading on the Chicago Board Options Exchange (CBOE), Nasdaq and New York Stock Exchange on July 23 (9:30 p.m. Beijing time tonight). According to Bloomberg ETF analyst Eric Balchunas, the 424(b) forms for the spot Ethereum ETF have been submitted one after another, which means that all preparations have been completed. The approval of the spot Ethereum ETF marks an important milestone in the cryptocurrency market. Previously, there were only futures Ethereum ETFs on the market, and the launch of spot ETFs will provide players with the opportunity to directly contact Ethereum price fluctuations. The products of companies such as BlackRock and VanEck are the first to go online, which will undoubtedly attract the attention of a large number of players.

21Shares recently submitted the S-1 filing for the spot Solana ETF in the United States, which means that the company has officially joined its competitor VanEck and become the second company to apply to launch the Solana ETF in the United States. Similar to VanEck, 21Shares also regards Solana's native token SOL as a commodity. However, the enforcement department of the U.S. Securities and Exchange Commission has made it clear that SOL is a security, which may become a major obstacle for 21Shares and its competitors to launch ETFs. It is worth noting that 21Shares chose Coinbase Custody as its fund custodian, a choice that provides players with higher security. As a well-known company in the field of cryptocurrency, Coinbase's custody service has a high reputation in the market. However, from the perspective of the SEC, SOL's identification as a security means that 21Shares and VanEck's ETF applications may face more regulatory scrutiny. Previously, the SEC has always been cautious about cryptocurrency-related ETF applications, especially when it comes to tokens other than Bitcoin and Ethereum. In view of this, it is still unknown whether 21Shares' ETF application will be finally approved.

The Federal Reserve may remove the wording of inflation being "high" at its policy meeting next week. This adjustment would be the strongest signal yet that the Fed plans to cut interest rates as early as September and start its easing cycle. The Fed's adjustment of its description of inflation from "high" to a more moderate wording may also lead to a revision of another key sentence in the policy statement, that the Fed will not cut interest rates until officials are more confident that inflation will continue to move toward 2%. Bostic, a 2024 FOMC voter, indirectly hinted in late June that the Fed may consider adjusting its description of inflation if the inflation rate falls to 2.5% or below. Many economists believe that the June PCE data released on July 26 will fall to or below this threshold. From an analytical point of view, the Fed's move reflects an important change in its assessment of the current economic situation. If the PCE data does fall as expected, the Fed may adjust its policy stance, thereby bringing a more relaxed monetary policy environment to the market. This will have a significant impact on the stock market, bond market and other financial markets, especially interest rate-sensitive cryptocurrency assets.

The U.S. spot Bitcoin ETF had a net inflow of 7,781 coins yesterday, worth $530 million.

BTC: The daily level closed a spindle line, and is now at the 5-day position. Although MACD shows that the bullish momentum has weakened, it is still in the high area. Combined with the net inflow of 7,781 US spot Bitcoin ETFs yesterday, worth US$530 million. On the whole, it may fluctuate around the current high point or make a small correction in the short term. After the adjustment, there is still the possibility of upward movement in the future. Pressure reference: around 69,000;

ETH: The daily level closed with a small negative line, and the daily level is now above multiple moving averages. Tonight is the first day of trading for the Ethereum ETF. The volatility may intensify at night, and the overall trend is expected to fluctuate upward. Pressure reference: around 3603; around 3790;

ARB: Yesterday, the market closed with a medium-sized negative line. Multiple moving averages at the daily level are sticking together, and the chips are relatively concentrated. There may be further strengthening in the short term.

STRK: It closed with a medium-sized negative line yesterday and is now above the 30-day moving average. Fund absorption is quite obvious and there may be further increases in the short term.

The Fear Index is currently at 71 (Greed) #以太坊ETF批准预期 #山寨季何时到来？ #比特币走势分析