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Ethereum price will be ‘sensitive’ to ETF inflows in the coming days: Kaiko

Another firm estimates that Ether’s price will rise no more than 24% by the end of the year due to underwhelming demand for the spot ETH products.

The price of Ether will likely be “sensitive” to spot Ether ETF inflows in the coming days, as investors will remember lackluster demand for ETH futures products late last year, says crypto analytics firm Kaiko.

“The launch of the futures-based ETH ETFs in the US late last year was met with underwhelming demand, all eyes are on the spot ETFs’ launch with high hopes on quick asset accumulation,” said Kaiko’s head of indices Will Cai in a July 22 market report.

Several spot Ether (ETH) ETFs received their final approval on July 22 and are now set to go live trading on July 23.

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Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27

Hive Digital to expand operations to Paraguay for the first time

Bitcoin miner Hive Digital has plans to build a 100-megawatt mining facility in Paraguay powered by the nation’s Itaipu hydroelectric dam.

Bitcoin miner HIVE Digital Technologies has revealed plans to build a 100-megawatt mining site in Paraguay — its first site in the country — expected to more than double its mining hashrate.

The expansion announcement came after HIVE executives toured the country and met with Paraguay President Santiago Peña and senior cabinet ministers, and saw “huge potential for growth,” according to a July 22 statement.

HIVE estimates its hashrate would increase from 5.6 exahashes per second to 12.1 EH/s after the site is completed.

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Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27

BlackRock’s IBIT records biggest inflow day since March at $523M

BlackRock’s Bitcoin ETF has witnessed over half a billion dollars of inflows on the same day a flurry of spot Ether ETFs got the nod to begin trading.

BlackRock’s spot Bitcoin exchange-traded fund (ETF) has notched its biggest day of inflows in over four months, with over $523 million entering the fund on Monday.

The iShares Bitcoin Trust (IBIT) scooped up 7,759 Bitcoin (BTC) on July 22 — worth just over $523 million at current prices — according to Hey Apollo data cited by its co-founder in a July 23 post to X.

The July 22 addition brings the total sum of inflows into BlackRock’s fund to 333,000 BTC which equates to $22 billion at current prices.

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Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27

Microsoft blames Crowdstrike meltdown on 2009 European Union deal

The security incident affected 8.5 million Windows systems worldwide as commercial operations were hit with the “blue screen of death.”

According to The Wall Street Journal, a Microsoft spokesperson blamed the recent Crowdstrike failure on a 2009 regulatory deal between Microsoft and the European Union.

The spokesperson claimed Microsoft agreed to give external security developers the same level of access to interact with the software as Microsoft, paving the way for critical bugs.

Patrick Wardle, the CEO of DoubleYou, explained that monolithic ecosystems like Apple’s MacOS are more resistant to such critical errors because of their walled-off architecture. In 2020, Apple revoked similar security clearances for its operating system, insulating it from third-party security failures and coding conflicts.

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Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27

Forcount crypto scheme promoters plead guilty to wire fraud conspiracy

On July 22, two of the five individuals who allegedly stole $8.4 million from investors between 2017 and 2021 by promoting Forcount pleaded guilty.

Two individuals indicted for their involvement in the Forcount cryptocurrency Ponzi scheme have pleaded guilty to charges in a New York courtroom.

In a July 22 hearing at the United States District Court for the Southern District of New York, Antonia Perez Hernandez and Nestor Nunez pleaded guilty to conspiracy to commit wire fraud related to the Forcount scheme. Hernandez, Nunez and others allegedly pilfered $8.4 million from mostly Spanish-speaking investors between 2017 and 2021 by promoting crypto trading and mining on Forcount, promising significant returns.

Of the five defendants in the case charged in 2022, Juan Tacuri has also pleaded guilty. He was one of the promoters who traveled across the US to host presentations in which he convinced investors to sign up for Forcount. As part of a deal with prosecutors announced in June, he agreed to forfeit roughly $4 million and properties purchased with victims’ funds.

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Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27

Breaking: Spot Ethereum ETFs to begin US trading on July 23

The approved spot Ether ETF applicants included BlackRock, Fidelity and Grayscale, and are expected to bring billions of dollars into the ecosystem.

Spot Ether (ETH) exchange-traded funds have been given the final approval to begin trading in the United States on July 23.

On July 22, the United States Securities and Exchange Commission approved the final S-1 registration statements necessary for their launch on their respective stock exchanges, including the Nasdaq, New York Stock Exchange and Chicago Board Options Exchange.

The successful spot Ether ETF issuers include BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck and Invesco Galaxy.

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Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27

What crypto policies can voters expect from potential VPs under Kamala Harris?

Despite endorsements from major party leaders, the top and bottom of the Democratic presidential ticket have yet to be fixed.

Though United States Vice President Kamala Harris has yet to officially win the Democratic nomination for president in 2024, many experts suggest she has an excellent chance to be the party’s candidate, facing off against Republican Donald Trump in November.

At the time of publication, it was unclear whether the Democratic National Convention (DNC) would hold an open primary — allowing any candidate to potentially win the delegates for the top of the ticket — or conduct a “virtual roll call” to decide on a nominee before a critical state deadline. The DNC is scheduled to begin on Aug. 19 in Chicago. However, Ohio’s election laws require parties to certify their presidential tickets by Aug. 7, suggesting that Democrats may take steps to ensure Harris is nominated outside of an open convention.

With the endorsement of US President Joe Biden, Senator Elizabeth Warren, Representative Nancy Pelosi, and many Democratic leaders, Harris may become the party’s candidate in 2024. Until the nomination is official, certain Democrats have a chance of being at the top of the ticket or potentially vice presidential candidates under Harris.

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Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27

Price analysis 7/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA

Digital investment products are witnessing solid buying, but it may take a stronger trigger to propel Bitcoin to a new all-time high.

The S&P 500 Index (SPX) plunged about 2% last week, but the weakness in the equity markets could not dampen the enthusiasm of the cryptocurrency traders. Bitcoin (BTC) made a strong comeback, rising roughly 12% for the week.

According to CoinShares da, digital asset investment products witnessed strong inflows of $1.35 billion last week, taking the total inflows in the past three weeks to $3.2 billion. Bitcoin’s strength also resulted in outflows of $1.9 million from short-Bitcoin exchange-traded products.

Even after the recent rally, Bitcoin remains stuck inside a sideways price action. As the price nears the resistance, the bears are likely to pose a strong challenge. However, analysts are optimistic about Bitcoin hitting a new all-time high.

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Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27

The Digital Chamber pens letter to Vice President Kamala Harris

“Over 50 million Americans own crypto,” the advocacy letter states while calling on Kamala Harris to deviate from the Democrats’ current party line.

The Digital Chamber penned an open letter to United States Vice President Kamala Harris on July 22 advocating for a more crypto-friendly stance and industry engagement from the potential Democrat nominee, should she secure the party’s 2024 presidential nomination.

The Digital Chamber’s letter outlines three actionable points for a potential Harris campaign, including support for digital assets in the Democrat Party’s platform, a vice presidential candidate “sophisticated” in digital asset policy, and lines of communication between the presumptive candidate’s campaign and industry leaders.

After weeks of speculation, a letter was posted to President Joe Biden’s X social media account on July 21, announcing that the incumbent was dropping out of the 2024 presidential race. This development was hotly contested in predictive markets.

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Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27

Spot Ether ETFs get NYSE Arca clearance, await SEC’s final authorization

The funds still await the SEC's approval of S-1 forms. Their launch in the United States is expected to take place on July 23.

The NYSE Arca has confirmed its approval to list and trade spot Ethereum exchange-traded funds (ETFs) from asset managers Grayscale and Bitwise.

According to documents filed with the United States Securities and Exchange Commission (SEC) on July 22, the exchange has certified “its approval for listing and registration of the common units” of Grayscale Ethereum Trust and Bitwise Ethereum ETF.

The funds are still pending the security regulator’s authorization to debut, and analysts anticipate a launch date of July 23.

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Trump’s Bitcoin push, spot Ether ETF debut, and more: Hodlers Digest, July 21-27