Headlines
US spot Ethereum ETF officially approved
The U.S. Securities and Exchange Commission (SEC) has notified at least two of the eight companies that have applied to launch the first U.S. spot Ethereum ETFs that their products can begin trading on Tuesday (July 23). Products from BlackRock, VanEck and six other companies will begin trading on three different exchanges Tuesday morning: the Chicago Board Options Exchange (CBOE), Nasdaq and the New York Stock Exchange, which all confirmed that they are ready to start trading.
Bloomberg ETF analyst Eric Balchunas said: "The spot Ethereum ETF has become effective at the SEC. Form 424(b) is being submitted, which is the last step, meaning everything is ready to start trading at 9:30 a.m. on Tuesday (9:30 p.m. Beijing time tonight). Game on."
Coinbase: Will provide custody services for 8 US spot Ethereum ETFs
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 approval of the spot Bitcoin ETF by the U.S. SEC in January this year, the approval of the spot Ethereum ETF marks another important milestone for cryptocurrencies, reflecting the continued innovation and increasingly mature regulatory environment around crypto assets. Coinbase has also become a trusted partner and custodian for 10 Bitcoin spot ETFs and 8 newly approved Ethereum spot ETFs.
10x Research: Gensler may resign in January or February 2025
10x Research released a report stating that with Biden's withdrawal, a crypto-friendly government will take over the White House. Historically, this means that the SEC chairman resigns when a new government is elected, although SEC Chairman Gensler's term will end on June 5, 2026. He is most likely to resign in January/February 2025.
Market News: NYSE ARCA Approves Listing and Registration of Part of the Undivided Beneficial Common Shares of Grayscale Spot Ethereum ETF
According to market news, the New York Stock Exchange ARCA approved the listing and registration of common stock of part of the undivided beneficial interest of the Grayscale Ethereum Trust (ETH) in accordance with the Exchange Act of 1934.
Ethereum celebrates its 10th anniversary, ETH/BTC has increased more than 100 times in ten years
Justin Drake, an official researcher at the Ethereum Foundation, posted on X that today is the tenth birthday of Ethereum. On July 22, 2014, Ethereum officially launched IC0. The fundraising price that year was 1 BTC for 2,000 ETH, without permission, VC, or lock-up. Ten years later, 1 BTC can be exchanged for less than 20 ETH, which means that ETH has increased more than 100 times relative to BTC in the past decade.
US election
CEHV Partner: Although Harris has no public position on cryptocurrency, many people associated with him have expressed support
Adam Cochran, partner of CEHV, posted on X platform that although Harris has no public position on cryptocurrency, many people associated with her have shown support: · Buttigieg (potential running mate) said it should be a commodity rather than a security. · Shapiro (potential running mate) authorized cryptocurrency as "currency" in Pennsylvania while serving in the state banking department. · Montoya, one of her former advance team advisers, is a supporter of cryptocurrency. · Harris and Warren hate each other.
Biden concept meme coins fell, THE JEO BODENS NFT floor price fell by more than 68%
Market information shows that as Biden announced his withdrawal from the election and will support Vice President Harris's campaign, Biden concept meme coins fell across the board, including: -JILLBODEN is now reported at 0.00001776 US dollars, a 24-hour drop of 76.1%; -BODEN is now reported at 0.009401 US dollars, a 24-hour drop of 59.59%; -HUNTBODEN is now reported at 0.0001059 US dollars, a 24-hour drop of 29.04%. In addition, the floor price of the Solana ecosystem's THE JEO BODENS NFT series dropped to 0.050 SOL, a 24-hour drop of 68.02%.
Industry News
CSOP to launch Asia’s first inverse Bitcoin ETF in Hong Kong
CSOP Asset Management (CSOP) will launch the first inverse ETF linked to cryptocurrency in the Asia-Pacific region, the CSOP Bitcoin Futures Daily (-1 x) inverse product, in Hong Kong on Tuesday morning. Note: Inverse ETFs, also known as short ETFs or bear ETFs, are exchange-traded open-end index funds that use leveraged investment tools such as stock index futures and swap contracts to achieve a certain multiple (such as -1x, -2x or even -3x) of the daily tracking target index returns. Data shows that so far, inverse trading products on global cryptocurrency exchanges have attracted about $106 million.
IntoTheBlock: 93% of Bitcoin addresses are profitable again
IntoTheBlock posted on X that after Bitcoin’s strong rise to $67,000, 93% of Bitcoin addresses are once again in profit.
Market News: NYSE ARCA Approves Bitwise Spot Ethereum ETF Beneficial Common Stock Listing and Registration
According to market news, the New York Stock Exchange ARCA approved the listing and registration of common shares in which the Bitwise Spot Ethereum ETF has a beneficial interest in accordance with the Exchange Act of 1934.
Market Forecast
Analysis: Bitcoin traders prepare for a 'fat tail effect', focus on Trump's Bitcoin conference speech
Options market activity on Deribit showed a significant increase in the “butterfly index”, indicating that the market is anticipating more extreme moves. Greg Magadini, head of derivatives at Amberdata, said in an email: “This week, we will hear Trump’s speech at the Nashville Bitcoin Conference. As long as Trump is still in the lead in the election, this will be the case. Potential catalysts for a 'big event' this week. The derivatives market seems to agree, and the pricing we're seeing supports that statement. "We don't talk about it often, but one thing to note this week is the 25-delta wing relative to ATM. The surge in volatility. This type of activity in the options market reflects expectations of higher return distribution Kurtosis or fat tails," Magadini added.
CryptoQuant CEO: Bear market investors who held Bitcoin for 2 to 3 years have sold about 67% of their holdings
CryptoQuant CEO Ki Young Ju wrote on X: "If you are selling Bitcoin now, you may not hold Bitcoin for more than 3 years because veteran holders will not sell. - Bull market investors (holding time 6 months to 2 years) sold most of their BTC holdings when Bitcoin was close to the last historical high; - Bear market investors (holding time 2 years to 3 years) sold about 67% of their holdings; - Veteran investors who have experienced multiple cycles (holding time for more than 3 years) showed historical highs in UTXO supply in all stages (age band)."
Project News
OKX Web3 wallet mobile terminal officially launches Meme mode
OKX Web3 wallet mobile terminal has launched Meme mode, which aims to help users trade Meme tokens on Solana blockchain on mobile terminals quickly, safely and for free. It is reported that the OKX Web3 Meme mode does not charge any handling fees, adopts a decentralized custody solution, and simultaneously connects the market and currency details functions in the OKX Web3 wallet to provide users with a one-stop trading service on mobile terminals. It is reported that the OKX Web3 wallet is a one-stop Web3 portal, which now supports 100 popular public chains, and the three terminals of App, plug-in and web page are unified.
MakerDAO related addresses transferred the last 2228 MKR to Binance
According to Ember's monitoring, the MakerDAO-related address transferred the last 2,228 MKR to Binance, starting from March 18 and ending on July 22. In the past four months, the address has continued to transfer hundreds of MKR per transaction to transfer all 30,971 MKR (worth about 92.08 million US dollars) to the exchange, with an average transfer price of about 2,973 USDT.
The whale that was once the second largest PENDLE holder transferred 250,000 PENDLE to Binance
According to on-chain analyst @ai_ 9684 xtpa, the whale who was once the second largest PENDLE holder transferred 250,000 PENDLE to Binance, worth $1.13 million, and would make a profit of $1.03 million if sold. The whale's position cost only 0.35 USDT, and was established at the low point of the bear market (2023.02.08 - 10.20); in the past three months, it is suspected that 2.68 million tokens (about 12.33 million US dollars) have been sold at an average price of 4.58 USDT.
Optimism announces Retro Funding 4 progress: Zora is redistributing 300,000 OP to its creator community
Optimism released some highlights about Retro Funding 4 on X: -Zora is redistributing 300,000 OP to its creator community; -sound.xyz will redistribute all of its Retro Funding grants to artists on the platform; -30% of Retro Funding 4 rewards go to builders on Mode; -Layer 3 team will redistribute Retro Funding grants to the community.
TON Foundation and Animoca Brands' Mocaverse Partner to Launch $20 Million Ecosystem Development Plan
The TON Foundation announced a partnership with Animoca Brands’ Mocaverse and MOCA Foundation to drive cross-ecosystem development and establish TON as a major platform for content, games, and communities, marking the next phase of the partnership. The TON Foundation, Mocaverse, and MOCA Foundation agreed to create a $20 million MOCA Coin and Toncoin reserve, which will incentivize developers and users to adopt the TON ecosystem through joint incentives such as The Open League, hackathons, and accelerator programs.
