On July 23, the U.S. Securities and Exchange Commission (SEC) approved the applications of 9 spot ETH ETFs. After the U.S. stock market opened, all spot ETH ETFs were officially listed and started trading. 3.5 hours after the opening, the total trading volume exceeded US$500 million.
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The Hong Kong Monetary Authority said that as the Hong Kong Monetary Authority promotes the development of digital assets through initiatives such as the Stablecoin Issuer Sandbox, please be wary of scammers. Explore digital assets safely, understand their nature and risks, carefully assess your personal risk tolerance, and make informed decisions. If you feel suspicious, please verify with the Hong Kong Monetary Authority. Stablecoin Issuer Sandbox participants will not raise public funds or provide investment products. Musk said that the US dollar is becoming like the Zimbabwean dollar. New York Stock Exchange ARCA approved the listing and registration of the beneficial common shares of Bitwise Spot ETH ETF under the Exchange Act of 1934. CoinShares Weekly Report shows that digital asset investment products inflows reached US$1.35 billion last week, bringing the total inflows in the past three weeks to US$3.2 billion. Finery Markets reported that the institutional cryptocurrency market experienced significant growth in the first half of 2024, with the total spot trading volume soaring 95% year-on-year. The report pointed out that the first half of 2024 is a critical period for institutional adoption of cryptocurrencies. Deribit data, ETH put/call ratio has soared to 1.45, indicating that the number of put options is higher than call options. OSantiment said that after the market rebounded in the past two weeks, bearish comments on social media have dropped sharply, and the voices that once said that a bear market was about to appear in early July have basically disappeared. Investment institution QCPCapital said that headlines related to the US election will continue to increase market volatility, especially in the cryptocurrency market. Due to these uncertainties, the volatility of the options market has increased. As the situation of the US election becomes clearer and the possibility of a second interest rate cut before the end of the year increases, it continues to favor trading strategies that can bring greater returns when the market rises.
Analyst Skew said that the situation looks good at the moment, and the weekly closing price is crucial. $65,000 is the support level, allowing bulls to keep control. If the buying pressure at the beginning of this week is strong, the next target is $70,000-80,000, and the RSI signal shows that there is more room for growth. Bernstein analysts said that if Trump wins, the market has not yet taken into account the possible positive shift in cryptocurrency regulation. On July 23, after the opening of the U.S. stock market, all spot ETH ETFs were officially listed and opened for trading. 23 minutes after the listing of BlackRock's spot ETHETF, the total trading volume exceeded $1 million. All ETH ETFs exceeded $200 million in trading volume 45 minutes after going online, exceeded $300 million in total trading volume 75 minutes later, and exceeded $500 million in total trading volume 3.5 hours later. Eric Balchunas, senior ETF analyst at Bloomberg, said that it is rare to see a first-day trading volume of more than $1 million when ordinary ETFs are released, but all ETH ETFs have a first-day trading volume of more than $1 million. Coinbase said that the U.S. Securities and Exchange Commission (SEC) approved the application of 9 spot ETH ETFs. Following the approval of the spot BTC ETF by the U.S. SEC in January this year, the approval of the spot ETH ETF marks another important milestone for cryptocurrencies, reflecting the continued innovation and increasingly mature regulatory environment around crypto assets. On July 22, BlackRock IBIT had a net inflow of US$523.3 million. On July 23, 9 BTC spot ETFs increased their holdings by a total of 8,021 BTC two hours after the opening of the U.S. stock market. Among them, BlackRock IBIT increased its holdings by 7,764 BTC and Grayscale GBTC increased its holdings by 268 BTC. On July 23, the U.S. government-related address sent 58.74 BTC to Coinbase. Currently, the U.S. government-related address holds 213,239 BTC (about US$14.42 billion). The MtGox address sent 5110 BTC to the address starting with 1JKMS, worth about US$340 million; the MtGox address starting with 18v sent 42587 BTC to the address starting with 15yp, worth about US$2.85 billion.
On July 23, the Nasdaq index of US stocks opened up 0.2%, the S&P 500 index rose 0.1%, gold rose 0.3%, BTC fell 2.5%, and ETH fell 1.6%. BRN analyst Valentin Fournier predicted that there may be selling pressure on the day of the launch of the ETH ETF, and then it will gradually recover. According to Deribit data, the implied volatility of ETH options has risen from 56% to 70% in the past week, and the ETH put/call ratio has soared to 1.45, indicating that the number of put options is higher than that of call options. Wintermute predicts that in the next year, the spot ETHETF will receive up to $4 billion in inflows from investors, and driven by these inflows, the price of ETH will rise by 24% in the next 12 months. Nate Geraci, president of The ETF Store, said: Traditional asset management can no longer ignore cryptocurrencies as an asset class, and will see traditional markets actively embrace this field. Analyst Joseph Capurso said that with the second quarter GDP estimate released on Thursday growing by only 1.6%, and the June personal consumption expenditure inflation data released on Friday likely to be close to zero, further weakness in the U.S. economy could increase the Fed's case for cutting interest rates this year. Analyst Han Tan believes that if the upcoming GDP and PCE data paint a 'Goldilocks' scenario for the U.S. economy, this will allow the Fed to cut interest rates. Barclays strategists: Raise the S&P 500 target for fiscal 2024 from 5,300 to 5,600. On Tuesday, MtGox transferred out Bitcoin, the U.S. government-related addresses transferred out Bitcoin, and the spot ETH ETF was approved for listing, all of which were short-term negatives. Grayscale's nearly $10 billion ETHE was unblocked and outflows occurred. When Bitcoin spot ETF was listed at the beginning of this year, it experienced a correction of about 10 days (from $49,000 to $38,000), and then began to recover. Bitcoin is currently $66,000. The Bitcoin spot ETF was listed, and after experiencing an initial outflow of funds from Grayscale, the final result showed that it was a positive, bringing Bitcoin a nearly doubling increase from $38,000 to $73,000. The Ethereum spot ETF was listed, and is also experiencing an initial outflow of funds from Grayscale. We are paying attention to how much inflow the other eight ETFs listed at the same time can bring. Although the impact is not as great as the Bitcoin spot ETF, the effect is similar. While waiting for the Ethereum spot ETF to play a role, we are also waiting for the content of the Federal Reserve's interest rate meeting at the end of the month on interest rate cuts and waiting for the market to reverse.#美国以太坊现货ETF开始交易 #比特币大会 #美国大选如何影响加密产业？
