BlackRock’s Ethereum ETF Surpasses $1 Billion in Total Value Amid Renewed Enthusiasm
The US market for spot Ethereum exchange-traded funds (ETFs) has seen a shift in investor sentiment, with the largest weekly inflows recorded since early August.
The surge marks the end of a six-week streak of consecutive outflows, signaling renewed enthusiasm among investors.
According to data from SoSoValue, US-based spot Ethereum ETFs saw inflows totaling $58.7 million on Friday alone.
This helped the funds achieve a net positive inflow of $84.5 million for the week, breaking a six-week cycle of net outflows.
Fidelity’s FETH Leads in Terms of Inflows
Fidelity’s FETH fund led the charge with a one-day inflow of $42.5 million, followed by BlackRock’s ETHA fund, which attracted $11.5 million.
While Fidelity’s fund recorded the highest single-day inflow, it was BlackRock’s ETHA fund that reached a remarkable milestone.
SEC Postpones Decision on ETH ETF Options
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Nasdaq’s proposed rule change to list and trade options on BlackRock’s iShares Ethereum Trust (ETHA).
Originally expected by September 26, the SEC’s decision has now been pushed back to November 10.
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Traders are also anticipating the upcoming policy meeting of the Federal Reserve scheduled for Tuesday and Wednesday, with the prediction that the central bank officals will enact their initial reduction in interest rates since 2020
Australia’s ASX 200 rose by 0.41% to 8,133.5. As for stocks in China, Hong Kong’s HSI slid by 0.53% to 17,277.28, and Shenzhen’s SZI contracted by 0.8 to 7,983.55
Meanwhile, the US stock markets edged up on Friday as the Dow Jones Industrial Average (DJIA) grew by 0.72% to 41,393.78. NASDAQ surged by 0.65% to 17,683.98, and S&P 500 increased by 0.54% to 5,626.02. VIX slumped by 2.99% to 16.56.
As for commodities, oil prices settled lower on Friday as crude production in the U.S. Gulf of Mexico recommenced after Hurricane Francine, alongside an upward trend in the weekly U.S. rig count. Brent futures declined 36 cents or 0.5% to $71.61 a barrel, and the West Texas Intermediate (WTI) dropped 32 cents or 0.5% to $68.65 per barrel.
This morning, Brent futures gained 25 cents or 0.35% to $71.86 a barrel, and the WTI rose 33 cents or 0.48% to $68.98 per barrel. Meanwhile, gold futures climbed by 0.07% to $2,612.4 per Troy ounce.
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Ethereum Price Analysis: 4,000 New Investors Stake $502M ETH ahead of USA Fed Rate Decision
Ethereum price opened trading at $2,419 on Sept 15, retreating 3% over the weekend, after an initial 15% gains within the weekly timeframe.While BTC and XRP broke above key the resistance levels at $60,000 and $0.60 respectively, ETH price failed to retake the $2,500 territory at the weekend.Despite Ethereum's underwhelming price performance, strategic investors are capitalizing on the low prices to acquire ETH and join the Ethereum 2.0 staking network. 
Ethereum Price Analysis
Ethereum price opened trading at $2,419 on Sept 15, retreating 3% after an initial 15% gains within the weekly timeframe, on-chain indicators from ETH 2.0 staking trends suggest investors are anticipating more upside in the week ahead.
Ethereum Price Retreats from $2,500 Resistance
Buoyed by positive macroeconomic indicators, Ethereum price delivered a double-digit growth performance last week. However, as the crypto markets snapped out of a sluggish start to September, Ethereum price still lagged behind the market average, as bulls struggle to drive prices above the critical $2,500 resistance.
Investors Deposited $400M in ETH 2.0 Staking Contracts after Dovish CPI
Relative to the broader markets trends, Ethereum’s 2.6% price decline over the weekend has been underwhelming. However, strategic investors are capitalizing on the low prices to acquire ETH and join the Ethereum 2.0 staking network.
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Bitcoin Left Out as Stocks, Bonds and Gold Party on Global Monetary EasingThe crypto might need more than some modest rate cuts to embark on a new bull run.
A global coordinated monetary ease campaign is underway
Most asset classes are on the rise as a result, but bitcoin remains under pressure
The crypto may need more than a handful of modest rate cuts before a new bull run can get started
The reaction in traditional markets has been as expected, with stocks, bonds and the price of gold all sharply higher as a coordinated developed market monetary easing campaign began to manifest itself.
Bitcoin (BTC), though, hasn't joined in the fun. Though putting in a nice rally on Friday, the price remains below $60,000 and roughly 20% below an all-time high above $73,500 set six months ago.
It's possible that a short, pedestrian series of rate cuts might do very little for bitcoin's price and only larger, emergency-style central bank measures will be enough to spark a new bull run.
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Starknet staking vote passes: New minting curve approved
Starknet implements dynamic minting for STRK tokens, balancing staking incentives and token supply with community backing.
The Starknet community has overwhelmingly voted to implement a proposed new staking mechanism, including a dynamic minting curve for STRK tokens. 
With almost 98.94% of voters in favor of the proposal, the approval signifies a milestone for the network’s long-term efforts to incentivize staking while balancing token supply.
Minting curve mechanism explained
The minting curve feature is central to the now-approved proposal, introducing a minting curve based on Professor Noam Nisan’s “Proposal 2” with slight modifications. 
Authority to adjust minting parameters
The Starknet Foundation, or a designated monetary committee, will be able to modify the minting constant (C) within a range of 1.0 - 4.0.
This authority adjusts the minting parameters to lower the C if staking levels become too high or to raise it to incentivize staking if participation falls too low.
Community feedback
Although community feedback was largely positive, with many expressing support for the balanced approach, a small minority, representing 0.61% of the vote, opposed the proposal.
The near-unanimous decision of almost 99% approval did not reflect all voting power among holders, with only 79.65% of total voting power — 1.4 billion STRK tokens — contributing to the decision.
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Bitcoin 'make or break moment' hangs on $46K BTC price support — Research
BTC price weakness leaves just two lines of defence nearby, ARK Invest warns, while Bitcoin spawns underwater investors.
BTC price preserves “most important” floor levels
Bitcoin has failed to bounce significantly after finishing August down nearly 9%, ARK Invest summarizes, and there is plenty for bulls to worry about.
BTC/USD is no longer respecting classic bull market support levels in the form of its 200-day moving average and short-term holder cost basis, defined by the report as $63,693 and $63,245, respectively.
Bitcoin bear market risk
Despite the gloom, positive aspects of the current market landscape have emerged.
Related: Is crypto entering a bear market? — 5 Things to know in Bitcoin this week
ARK points to BTC price drawdowns sticking to historical norms, low levels of short-term holder liquidations and favorable macroeconomic conditions among the reasons for optimism. 
Bitcoin MVRV Z-score, which compares market cap to its cost basis, also remains in “bull market territory.”
“At the close of August, the MVRV Z-Score was 1.6, relative to its mean at 1.42,” the report explains.
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The greatest show on EarthThe forthcoming election in the US looks to be close, a Trump or Harris victory would not surprise markets.
Key Points:
• The forthcoming election in the US looks to be close, a Trump or Harris victory would not surprise markets.
• Historically, it hasn’t really mattered for markets or the economy which party has been elected to power in the US. Other factors have been the major cause of memorable financial events.
• The major policy proposals from Trump and Harris aren’t (in our opinion) very good. However, it is rare for all election promises to actually make it into legislation.
• The biggest risk is that Trump manages to push through his proposed tariff increases in aggregate. We think that would have a significant negative market and economic impact. Otherwise, Trump’s isolationist policies may embolden China to take control of Taiwan, though this is a very low probability (but high impact) outcome in our view.
• Ultimately, most of the time, elections in the US don’t matter much for the economy or markets and we expect that this year’s election wont deviate from that trend.
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Exploring the intersection of data, AI and blockchain with Chainbase COO
Chainbase chief operating officer Chris Feng discusses how onchain data is evolving into a new asset class and how AI is reshaping the Web3 ecosystem.
In a recent episode of Cointelegraph’s Hashing It Out podcast, Chris Feng, co-founder and chief operating officer of Chainbase, joins host Elisha Owusu Akyaw to discuss the evolving role of data and artificial intelligence in the blockchain ecosystem. The podcast delved into how these technologies drive new developments within the Web3 space, shedding light on the untapped potential of onchain data as a critical asset for both industries.
Feng explained how onchain data is not just a record of transactions but is becoming a new type of asset class. As Web3 grows, data from blockchains is being leveraged for more than just verifying transactions — it’s also providing valuable insights that fuel innovation.
This episode offers a clear view of how data, AI and blockchain converge, setting the stage for new technological advancements in the Web3 space.
Listen to the latest episode of Hashing It Out on Spotify, Apple Podcasts or TuneIn. You can also explore Cointelegraph’s complete catalog of informative podcasts on the Cointelegraph Podcasts page.
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Vitalik Buterin ups X activity in August, posts more than last 18 months
After moving to Farcaster, Vitalik Buterin appears to be back on X with over 150 posts or replies in the last month.
Ethereum co-founder Vitalik Buterin has drastically increased his activity on X, posting more in the last month than the 18 months prior after criticism he had abandoned the platform. 
Across all of August, Buterin posted or replied about Ether ETH$2,340, the Ethereum blockchain, and other topics at least 158 times, as trader and conomist Alex Krüger pointed out in a Sept. 12 X post.
In comparison, from January to July, he posted 44 posts and posted just 13 times in all of 2023.
Buterin wrote in an Aug. 20 X post that he was told to "do less philosophizing and do more Ethereum bullposting.”
Buterin was criticized and accused of abandoning X for the smaller Farcaster platform, with largely follower accounts, including by “Autism Capital,” who called for Buterin to return to X and push Ethereum.
In a reply to Elon Musk, Autism Capital speculated that Buterin left X for Farcaster because it allowed him to engage with a smaller group of like-minded peers with less scrutiny.
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eToro to restrict U.S. crypto trading after SEC settlement, pay $1.5 million fineBitcoin, bitcoin cash, and ether will still be available for trading on the platform, however.
Israeli trading platform eToro has reached a settlement with the U.S. Securities and Exchange Commission (SEC), under which it agreed to a $1.5 million penalty and plans to limit access to the majority of its crypto trading to U.S. customers. 
The SEC claimed that since 2020, eToro was operating as an unregistered broker and unregistered clearing agency, and was selling crypto in violation of U.S. federal securities rules.
“It is important for us to be compliant and to work closely with regulators around the world," eToro CEO Yoni Assia said in response to the SEC settlement. "We now have a clear regulatory framework for crypto-assets in the U.K. and Europe and we believe we will see similar in the U.S. in the near future. Once this is in place, we will look to enable trading in the crypto-assets that meet this framework.”
While U.S. customers will no longer be able to trade most crypto assets on eToro, the company said that bitcoin, bitcoin cash, and ether will still be available for trading. The company currently has more than 35 million users across over 100 countries.
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Ethereum Price Prediction: ETH Must Breach This Barrier to Find Its Rhythm
Ethereum price has struggled in the second half of the year, trading below the $3,500 mark since late July. The downward breakout below that mark triggered a bearish run that set it on course to register a four-month losing streak. ETH has not registered such a streak since November 2018, underlining the FUD sentiment that currently prevails in the market.
ETH price key indicators and impact of ETF
As of this writing, ETH price was up by 0.3 percent on the daily chart, recovering after its previous four-day winning streak was interrupted on Wednesday near the $3,400 mark. In addition, the crypto coin trades below the 20,50, 100 and 200-SMA levels. That means there’s an underlying bearish momentum that could slow down gains past the $3,400 psychological barrier.
ETH price prediction
Ethereum price has recently gone above the 20-SMA level on the 2-hour chart. The ETHUSD pair will likely keep gaining if it stays above the 2,345 pivot mark. With the buyers in control, the upward movement will likely proceed to 2,375 where it will encounter the first resistance.
However, if they break above that barrier, they will strengthen their momentum to potentially test 2,400. On the downside, a break below 2,345 will signal bearish control. Initial support will likely be at 2,320, but extended control could enable a breach of the first support and invalidate the upside narrative. Also, that could send the price lower to test 2,302.
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Bitcoin to hit six figures regardless of who wins US election, Swan Bitcoin says
Despite the partisan divide in crypto, many investors believe Bitcoin will reach six figures regardless of the U.S. presidential election outcome.
Bitcoin btc2.95%Bitcoin is poised to reach six figures over the long term, no matter who wins the U.S. presidential election, according to Steven Lubka, head of private clients and family offices at Swan Bitcoin.
Amid growing political polarization in the cryptocurrency industry, many investors now believe Bitcoin will continue to thrive, even as optimism from former President Donald Trump‘s pro-crypto statements fades. In an interview with CNBC, Lubka said he still “certainly” believes that Bitcoin will surpass the $100,000 mark by 2025.
“Do I think we will be in the six figures regardless of who wins? Almost certainly.”
Steven Lubka, head of private clients and family offices at Swan Bitcoin
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Exclusive | New Hong Kong crypto scheme could see changes with SFC involvement in OTC rules
A previous proposal had OTC cryptocurrency shops under the excise department, but some complained about confusing virtual asset rules, sources say
Hong Kong is exploring whether to have the Securities and Futures Commission (SFC) involved in regulating over-the-counter (OTC) virtual asset trading services, along with the Customs and Excise Department (C&ED), as the city struggles to regulate the industry.
The SFC has sought opinions from industry players about potentially putting in place a new licensing regime for cryptocurrency OTC services, which will see the securities regulator work with the C&ED to oversee these companies, according to people familiar with the matter who declined to be named because the discussions were private.
Hong Kong has also faced criticism within the crypto industry over regulations that some see as too onerous. Several large crypto exchanges withdrew their licence applications this year, while platforms that have been allowed to continue operating in the city have yet to receive a full licence since the application deadline in February.
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Spot Bitcoin and Ethereum ETFs log joint negative flows
Spot Bitcoin and Ethereum exchange-traded funds in the United States experienced joint outflows on Sept. 11 following the joint positive flows recorded the previous day.
According to data from SoSoValue, the 12 spot Bitcoin ETFs in the U.S. logged a net outflow of $43.97 million on Sept. 11, ending their two-day streak of positive flows.
Interestingly, ARK 21Shares’ ARKB recorded the largest outflows among the ETFs yesterday, with $54 million in withdrawals, as reported by SoSoValue. Grayscale’s GBTC followed with net outflows amounting to $4.6 million, while its Bitcoin Mini Trust registered outflows of approximately $511,230.
The remaining Ether ETFs remained neutral on that day.
These investment vehicles have also seen their daily trading volume rise to $126.2 million on Sept. 11, a jump over the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $562.6 million to date. At the time of publication, Ethereum eth1.13%Ethereum was also up by 1%, exchanging hands at $2,354.
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Bitcoin sustains $57K despite August CPI report
US August CPI data revealed a slight increase in the monthly inflation rate, rising by 0.2%.The crypto market remained steady despite the inflation report, as predictions favor the possibility of a 25 bps rate cut.Bitcoin has experienced sharp declines in trading activity among centralized exchanges, per Glassnode's monthly data.
Crypto market unfazed by low inflation data
US Consumer Price Index (CPI) data for August came in lower than expected, declining 2.5% against July's 2.9% on a yearly basis. At the same time, the annual core CPI stood at 3.2%, matching expectations. Notably, monthly CPI data increased 0.2% while core CPI rose 0.3%, per FXStreet inflation data report on Wednesday.
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Congress battles over DeFi, while Trump’s silence speaks volumes
As Democrats and Republicans argue over DeFi, what message does Trump’s silence send to the crypto community? Is it a sign of disinterest or strategic neutrality?
DeFi gets the spotlight
On Sep. 10, the first-ever Congressional hearing on decentralized finance took place, marking an important moment in the evolution of this technology.
Titled “Decoding DeFi: Breaking Down the Future of Decentralized Finance,” the hearing was led by Congressman French Hill and lasted nearly two-and-a-half hours. 
A clash of perspectives on DeFi
The hearing itself turned into a battlefield of opinions, with sharp contrasts in how lawmakers viewed DeFi. The subcommittee chair, Hill, kicked off the discussion by focusing on the opportunities DeFi and tokenization could offer to finance.
However, not everyone saw it that way. Congressman Brad Sherman, a Democrat from California, took a more critical approach. He expressed concerns that DeFi might be nothing more than a tool for tax evasion, especially for the ultra-wealthy.
Crypto left out of the presidential debate spotlight
Vice President Kamala Harris and former President Donald Trump faced off on Sep. 10 in the second presidential debate of the 2024 election. Despite Trump’s well-known pro-crypto stance, the debate avoided any mention of crypto entirely.
What to expect next?
Throughout the Biden administration, Democrats have consistently been skeptical of crypto, highlighting the risks and pushing for stronger regulations. Amid this, Vice President Kamala Harris has remained silent on the issue, making her stance unclear.
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Spot Bitcoin ETFs record four-fold inflow spike, Ether ETFs recover from outflows
Spot Bitcoin exchange-traded funds in the U.S. saw a significant jump in net positive flows while spot Ether ETFs also logged net inflows ending their five-day outflow streak.
According to data from SoSoValue, the 12 spot Bitcoin ETFs logged inflows of $116.96 million on Sep. 10, a surge of over four times compared to the $37.29 million inflows recorded the previous day.
The positive inflows into these ETFs on these two days follow eight consecutive days of outflows, which reduced their total assets under management by more than $1.18 billion.
Fideliy’s FBTC led the lot for the second consecutive day with the fund witnessing inflows of $63.2 million on Sep. 10. Grayscale Bitcoin Mini Trust and ARK 21Shares’s ARKB followed with reported inflows of $41.1 million and $12.7 million respectively. The remaining nine Bitcoin ETFs remained neutral.
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Solana recorded the highest daily active addresses ever
Solana’s blockchain has surpassed previous records for daily network users.
According to Artemis.XYZ data, Solana sol0.55%Solana recorded the highest number of daily active addresses in blockchain history, despite the fifth-largest cryptocurrency revisiting its lows from April and January. As of this writing, a single SOL coin was worth around $136.
Artemis noted that SOL’s 24-hour users exceeded the five million mark on Sept. 10, while the chain’s closest competitor hovered just above 2.5 million daily active wallets on the same day.
Solana’s activity surges, but memecoin sector slips
Solana’s active address milestone occurred despite decreased activity in its memecoin sector. Specifically, Pump.fun has generated fewer fees since its peak in late July.
Last week, data confirmed an 80% decline in revenue generated by the memecoin launchpad. General SOL fees and prices have also slumped since July, highlighting a correlation between SOL revenue and Pump.fun activity.
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Harris-Trump debate: How the U.S. election may impact bitcoin and other crypto prices
Bitcoin may rally regardless of who wins the election, one analyst says
Crypto-market participants are unsettled on how the U.S. presidential election in November might impact bitcoin and other digital-asset prices, as Vice President Kamala Harris and former President Donald Trump are scheduled to debate for the first time on Tuesday night.
Whether Trump or Harris wins the election, the next administration is likely to be bullish for bitcoin (BTCUSD), said Matthew Sigel, head of digital-assets research at investment manager VanEck, in an interview with MarketWatch.
Economists and policy watchers are expecting the federal budget deficit to grow significantly regardless of who wins the presidential election in November. Bitcoin bulls have argued that the crypto has the potential to be used as a hedge against expansionary monetary policy and against a weakening dollar DXY, thanks to characteristics such as a fixed maximum supply of 21 million.
"We believe a crypto-friendly election outcome and positive regulatory environment is not priced in," the analysts wrote, arguing that a Trump administration would provide a much more supportive regulatory environment for crypto. "A positive regulatory environment would take away the policy risk for financial institutions and banks to participate [in the crypt market], thus removing the handicap for digital assets to compete with traditional assets for institutional flows."
What matters more to the crypto sector than who wins the election is whether or not the White House and Congress will be controlled by the same political party, according to Zach Pandl, head of research at Grayscale Investments.
If so, it is likely that the U.S. will see widening budget deficits, which would be bullish for crypto, Pandl said in an interview.
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Yellen sees 'no red warning lights” for U.S economy, but Fed’s rate cuts could backfire - Peter Boockvar
Recent economic data has raised questions about Treasury Secretary Janet Yellen’s optimistic view of the U.S. economy. While Yellen recently stated at the Texas Tribune Festival that she doesn’t see any “red lights flashing,” revisions to the August jobs report showed just 142,000 new jobs, and underemployment has climbed to 7.9%. The retail and manufacturing sectors are also shedding jobs, contributing to a more mixed economic picture than Yellen's words suggest.
In a conversation with Jeremy Szafron, Anchor at Kitco News, Peter Boockvar, Chief Investment Officer at Bleakley Financial Group, offered a more cautious perspective. “You can be in a full-blown hurricane, and the Treasury secretary will say, 'The weather looks great,’” Boockvar said, underscoring his concern that the government may not be acknowledging all the risks. He also questioned the upcoming Federal Reserve rate cuts, saying, “The market assumes the Fed can just cut rates and everything will be fine, but I don't think it's going to be that easy.”
As the Federal Reserve’s September meeting approaches, markets are anticipating a significant decision on interest rates. While the consensus leans toward a 25 basis point cut, some speculate the Fed may opt for 50 basis points, depending on incoming data. Inflation figures, including the CPI and PPI due this week, could influence the final decision. Boockvar suggested that while inflation may be moderating, aggressive rate cuts could have unintended consequences for the broader economy.
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