● Cboe confirms that 5 Ethereum spot ETFs will start trading on July 23
According to BlockBeats, on July 20, official information from the Chicago Board Options Exchange (Cboe) showed that five Ethereum spot ETFs from VanEck, Invesco, Fidelity, 21Shares, and Franklin Templeton will begin trading on July 23.
● Grayscale cuts Ethereum ETF fees by 40% to counter competition
Grayscale Investments has cut the planned fees of its spot Ethereum ETF by 40%, from an initial 0.25% to 0.15%, according to Blockworks. The move is intended to counter the upcoming battle for assets. Grayscale's original planned fees were comparable to those of competitors such as BlackRock and Fidelity, but higher than those of Franklin Templeton, VanEck, Bitwise and 21Shares. Grayscale plans to convert its Ethereum Trust, which manages about $10 billion in assets, into an ETF, with fees remaining at 2.5%. The fee for the Mini Ethereum Trust was adjusted to 0.15%, making it more competitive. Scott Johnsson of Van Buren Capital said Grayscale's fee adjustment puts more pressure on companies such as BlackRock. Industry observers believe that fund fees are only one factor in investors' choice of ETFs, and other factors include product liquidity and issuing brands. Competition is expected to be fierce in the U.S. spot ETH fund category, but its market share is likely to account for only a small portion of the $16.7 billion in net inflows that have entered U.S. spot BTC products so far this year.
According to Odaily Planet Daily, Nate Geraci, president of The ETF Store, said that once the Grayscale Bitcoin Mini Trust completes its spin-off from Grayscale GBTC, it will become the sixth largest spot Bitcoin ETF in terms of assets. The trust's fee rate is only 15 bps, and it is worth noting that it attracts liquidity.
According to Odaily Planet Daily, Binance CEO Richard Teng said in an interview with Cointelegraph: "Although we expect these ETFs to receive stable capital allocation, they will not have a big impact in the early stage and will fluctuate according to various macroeconomic factors." MV Global partner Tom Dunleavy said that the Ethereum spot ETF may have an inflow of $5 billion to $10 billion within a few months of its launch.
Richard Teng, CEO of Binance, said in a post on the X platform, “Markets are cyclical, and it is not uncommon to experience ups and downs. It is important to take a long-term view when making investment decisions. Here is a reminder that it has only been 3 months since the most recent Bitcoin halving. Not financial advice, DYOR.”
● Report: About 562 million people worldwide own cryptocurrencies, an increase of about 33% from 2023
According to ChainCatcher, according to Triple-A's report, about 562 million people in the world will own cryptocurrencies in 2024, accounting for 6.8% of the world's population, an increase of 33% from 2023. Among them, Asia has 326.8 million cryptocurrency holders, an increase of 21.8% from 2023. Among all age groups, people aged 24-35 have the highest proportion of cryptocurrency. The UAE is the country with the highest cryptocurrency adoption rate, with 25.3% of the population holding cryptocurrency.
● Bitwise CEO: Bitcoin and cryptocurrency are entering the mainstream
According to ChainCatcher, Bitwise CEO Hunter Horsley said that Bitcoin and cryptocurrencies are entering the mainstream. According to a report received today, there is a large bank in the United States, and 20% of all its wealth management branches (hundreds) own Bitwise ETFs.
● ECB pushes Revolut to strengthen EU banking supervision
According to Odaily Planet Daily, the European Central Bank is pushing digital bank Revolut to strengthen EU banking supervision. It is reported that Revolut is also one of the first banks to establish an independent trading platform to provide cryptocurrency transactions for customers. Its cryptocurrency trading platform Revolut X is now open to professional cryptocurrency traders.
