Ethereum spot ETF officially approved for listing and trading
According to BlockBeats, on July 23, according to official information from the SEC, it has officially approved the S-1 applications of multiple ETF issuers. The Ethereum spot ETF has been officially approved for listing and trading, and initial trading is expected to begin tomorrow (Tuesday morning US time, tomorrow night Beijing time).
Today in History: Ethereum Launches ICO Fundraising for Ten Years
According to BlockBeats, on July 22, 2014, Ethereum officially launched ICO financing. The team raised funds by pre-selling ETH and raised a total of 31,529 bitcoins (the exchange rate was 1 bitcoin for 2,000 Ethereum). According to the market price at the time, the funds raised exceeded 18 million US dollars.
Ten years later, the New York Stock Exchange ARCA is approving the listing of five Ethereum spot ETFs, including VanEck, Invesco, Fidelity, 21Shares, and Franklin Templeton.
As Ethereum researcher Justin Drake put it, “ETH is blockspace currency. 4.3 million ETH has been burned to pay for gas since EIP-1559. Millions more ETH will be used for blockspace.”
Through staking, ETH provides $100 billion in economic security for Ethereum, 10 times that of Bitcoin. ETH is also high-quality collateral for DeFi and re-staking, unlocking scale economy bandwidth for the Internet of Value. ETH is now widely recognized as a digital commodity. The institutional journey is about to begin. "
Wintermute and Kaiko predict that initial demand for spot Ethereum ETFs may be lower than expected
According to BlockBeats, on July 23, market maker Wintermute believes that the Ethereum ETF can attract up to $4 billion in inflows from investors in the next year. This is lower than the $4.5 billion to $6.5 billion expected by most analysts, which is about 62% less than the $17 billion that the Bitcoin ETF has attracted since it was traded in the United States in the past six months.
However, Wintermute predicts that Ethereum’s price could rise by as much as 24% over the next 12 months, driven by these inflows.
U.S. regulators rejected a request from issuers to allow Ethereum ETFs to stake their cryptocurrency holdings, which would have generated income and shared it with investors. “This loss reduces the competitiveness of Ethereum ETFs relative to direct holdings, and investors can still benefit from staking,” Wintermute said in its report.
Research firm Kaiko holds a similar view based on previous Ethereum-focused releases.
Will Cai, head of Kaiko Index, said in a report: "The futures-based Ethereum ETF launched in the United States at the end of last year has been tepid. All eyes are on the launch of spot ETFs, hoping to quickly accumulate assets." He also said that regardless of the long-term trend, the price of Ethereum may be "sensitive" to the amount of capital inflows in the first few days of trading. (CoinDesk)
Analysis: Lack of staking functionality makes Ethereum ETF relatively unattractive
According to BlockBeats, on July 23, London investment management company Farside Investors released a report stating, “We believe that the inflow of funds to Ethereum ETFs may be smaller than that of Bitcoin ETFs for the following reasons:
1. Bitcoin ETF was approved first, attracting more attention;
2. Before the approval of the US spot ETF, the market size of Bitcoin’s exchange-traded products (ETP) was larger than that of Ethereum;
3. The lack of staking functionality makes the Ethereum ETF relatively unattractive;
4. Bitcoin is more relevant as a financial asset, while Ethereum focuses more on decentralized applications (dApps) and on-chain usage. "
BTC options market data shows traders braced for “extreme” volatility this week
According to BlockBeats, on July 23, according to the options market activity data on Deribit tracked by Amberdata, the "Butterfly Index" of the BTC options market has risen significantly. The index measures the volatility of out-of-the-money (OTM) 25-delta (∆25) call options and put options that are far away from the Bitcoin BTC spot market price relative to the at-the-money (ATM) options that are close to the spot price. The surge in the index indicates that the market expects more extreme volatility.
“We’re going to hear Trump speak at the Nashville Bitcoin Conference this week. That could be a potential catalyst for ‘something is going to happen’ this week,” said Greg Magadini, head of derivatives at Amberdata. “The derivatives market seems to agree and we’re seeing pricing that supports the ‘something is going to happen’ narrative.”
BlockBeats previously reported that there are reports that Trump may announce that BTC will play a more important role in the US financial system. Many industry insiders said that Trump will then announce that Bitcoin will be a strategic reserve asset. Markus Thielen, founder of 10x Research, believes that this situation will trigger a parabolic rise in the price of Bitcoin.
Swan Bitcoin abandons IPO plans, lays off employees and will close mining department
According to BlockBeats, on July 23, CoinDesk reported that Bitcoin financial services company Swan Bitcoin abandoned its plan to go public, closed the mining department it managed, and laid off employees in multiple departments.
Swan CEO Cory Klippsten said on social media that the company will continue to provide Bitcoin (BTC) financial services and free Bitcoin education, "As we no longer expect to generate significant short-term revenue from the managed mining unit, We have decided to cancel our recent IPO plans.”
Jupiter to launch memecoin metadata platform in partnership with Irene Zhao
According to BlockBeats, on July 23, Jupiter co-founder meow posted on social media that he will cooperate with Irene Zhao to launch the meme coin metadata platform ASIANMOM, trying a new launch mechanism to improve the meme coin metadata to solve the current meme coin release metadata. There are some major PvP problems: including false widespread distribution, sniping, opaque development allocation, lying "influencers", using development dumps for large-scale pre-sales, etc.
In order to work closely with the Jupiter community, Jupiter DAO will receive 5% of ASIANMOM tokens. The ASIANMOM team will decide at their discretion when to deliver. The Jupiter team will establish the required mechanisms and initial airdrop list.
Blockchain asset management company Superstate launches private tokenized fund USCC
According to BlockBeats, on July 22, blockchain asset management company Superstate announced the launch of its second investment product, Superstate Crypto Carry Fund (USCC). USCC is a private tokenized fund that aims to provide compliant and convenient crypto "cash-and-carry" transactions to qualified buyers, with ownership represented in the form of tokenized and non-tokenized shares.
USCC’s strategy exploits price differences between the Bitcoin and Ethereum spot and futures markets and will optimize the return and risk of the portfolio, including basis opportunities, collateral, and U.S. Treasuries (relative to the Federal Funds Rate). By offering the option to issue USCC as an ERC-20 token on the Ethereum blockchain, the fund will allow qualified investors to use it for collateral or settlement in the future, thereby increasing its utility.
Last November, Superstate completed a $14 million financing round led by CoinFund and Distributed Global, with participation from Arrington Capital, Breyer Capital, CMT Digital, Department of XYZ, Folius Ventures, Galaxy Digital, HackVC, Modular Capital, Nascent and Road Capital Management. The company, led by Robert Leshner, founder of DeFi lending platform Compound, has designated funds for team expansion, the creation of private equity funds for institutional investors, and the development of a framework for tokenized public funds.
Ord.io: Liquidium Runes airdrop for OMB, Quantum Cats and other holders has started
According to BlockBeats, on July 22, Ord.io announced on the X platform that the Liquidium Runes airdrop has begun. OMB, Quantum Cats, Pizza Ninjas, Bitcoin Puppets, and NodeMonkes holders can check their wallets to confirm whether they have received the airdrop.
It is reported that Liquidium Runes is issued by Liquidium, a Bitcoin asset lending platform.
Manta Network has successfully completed testnet integration with data availability layer Nubit
According to BlockBeats, on July 22, Manta Pacific has successfully integrated with the modular blockchain Nubit DA testnet. Through this integration, Nubit can improve Manta's scalability, reduce costs, and bring security on the Manta network to a higher level.
This enables dApps on Manta to leverage Nubit’s trustless, scalable data availability layer, secured by Digital Gold (Bitcoin), as well as existing infrastructure.
Coinbase: Will provide custody services for 8 US spot Ethereum ETFs
According to BlockBeats, on July 23, the cryptocurrency trading platform Coinbase officially stated that today, the U.S. Securities and Exchange Commission (SEC) approved the applications of 9 spot Ethereum ETFs.
Following the U.S. SEC's approval of the spot Bitcoin ETF in January this year, the approval of the spot Ethereum ETF marks another important milestone for cryptocurrency, reflecting the continued innovation and increasingly mature regulatory environment surrounding crypto assets.
Coinbase has also become a trusted partner and custodian for 10 Bitcoin spot ETFs and 8 newly approved Ethereum spot ETFs.
