🌟 Ether ETFs: All Set for Debut
In today’s edition: 📉 ETH reserves hit eight-year low, 🇺🇸 US gov wallet transfers bitcoin, 🥇 BlackRock dominates bitcoin ETF scene, and more!
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What’s Poppin’?
by Frederick Munawa, Sam Sriram and Sage Young
SEC Gives Final Approval to Spot Ether ETFs, Setting Stage for Historic Launch
Trading of US spot ether ETFs is expected to start as early as tomorrow, with one expert calling the decision “a massive, positive regulatory shift.”
ETH Held in Exchange Reserves Drops to 8-Year Low With ETFs Set to Begin Trading
The ether holdings of Binance and Coinbase have decreased by $1.2 billion over the last seven days.
Wallet Tied to US Government Moves Nearly $4 Million in Bitcoin to Coinbase
A blockchain address allegedly controlled by the US government moved 58.742 BTC to crypto exchange Coinbase.
BlackRock’s Spot Bitcoin ETF Records $526 Million in Inflows
BlackRock’s IBIT saw its biggest day of inflows in four months, accounting for 98.7% of inflows into US spot Bitcoin ETFs.
Daily Bits… ✍️✍️✍️
🔧 Swan Bitcoin canceled its initial public offering (IPO) plans, cut staff, and discontinued its managed mining unit due to the lack of near-term revenue from the unit, while continuing to offer Bitcoin financial services and education.
⚖️ BlockFi finalized the sale of its FTX claims at a significant premium, enabling it to prepare for the final distribution to creditors and customers, marking the end of its bankruptcy process.
🏛 The U.S. House of Representatives passed a bill to create a federal group to study crypto's role in terrorism and illicit finance, though it faces slim chances in the Senate.
🏗️ HIVE Digital Technologies plans to build a 100-megawatt crypto mining facility in Paraguay, aiming to add 6.5 Exahash per second (EH/s) to their Bitcoin mining operations, while also reporting bitcoin holdings worth over $171 million.
🗳️ Polymarket, a decentralized prediction market dapp on Polygon, reached an all-time high in monthly trading volumes of $213 million in July, driven by heightened interest in the US election.
📜 The Digital Chamber urged Vice President Kamala Harris to adopt a more positive stance on crypto and choose a running mate with a pro-innovation track record.
💍 A court ordered Thomas Braziel, founder of crypto bankruptcy claims firms 117 Partners and 507 Capital, to repay $1.9 million after he embezzled funds to buy luxury items and crypto, instead of distributing assets from a receivership fund.
🎁 Liquidium, a Bitcoin-based DeFi platform, conducted a surprise airdrop during its token-generation event, distributing 10% of its total token supply to users and select Ordinals communities.
Today in Crypto Adoption...
💰 A new platform on the Base network now allows US politicians to receive crypto donations in over 240 different cryptocurrencies, facilitated by Coinbase Commerce.
The $$$ Corner…
🎮 NPC Labs secured $18 million in funding, led by Pantera Capital, to develop a GameFi ecosystem on the Base protocol and build user-friendly Web3 games.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 1.4%, trading at $66,507
ETH is up 0.1%, trading at $3,499
BTC dominance: 51.7%
Crypto market cap: $2.54T
*All data as of today, 07:32 am ET. Source: CoinGecko
Recommended Reads
The Block: Here's everything you need to know about spot Ethereum ETFs
DL News: How a Republican Senate would speed up stablecoin ambitions in US
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