1. Home
  2. Investments

Investments

SEC approves Grayscale, Proshares spot Ethereum ETFs for trading on NYSE Arca

The issuers must still await final regulatory signoff on S-1 filings before listing the funds.

The United States Securities and Exchange Commission (SEC) approved two spot Ethereum  exchange-traded funds (ETFs) — Grayscale Ethereum Mini Trust and ProShares Ethereum ETF — for listing on the New York Stock Exchange’s (NYSE’s) Arca electronic trading platform, according to a July 17 filing

The approval of the so-called Form 19b-4 filing authorizes NYSE to facilitate trading of the funds. However, the issuers must still stand by for final comments on the ETFs’ respective S-1 filings before the spot products can actually commence with listing.

“Grayscale is excited to share that the [SEC] has approved Grayscale Ethereum Mini Trust’s (proposed ticker: ETH) Form 19b-4,” a Grayscale spokesperson said in a statement. “The Grayscale team continues to engage constructively with SEC staff, as we seek full regulatory approval for US spot Ethereum ETPs.”

Read more

Musk exploring blockchain use to curb US government spending: report

Valour launches first ETP for Near Protocol’s native token

The exchange-traded product will be available on Sweden’s Spotlight Stock Market.

Crypto fund issuer Valour has launched an exchange-traded product (ETP) for Near Protocol’s native token, NEAR, according to a July 17 announcement from Valour’s parent company, DeFi Technologies (CBOE CA: DEFI).

The ETP will trade on Sweden’s Spotlight Stock Market, enabling retail and institutional investors to gain exposure to the decentralized application development platform, the announcement said.

Valour’s head of product, Elaine Buehler, said the new fund offering will allow investors to access an asset known for its “transformative impact on DeFi and NFTs,” referring to decentralized finance and non-fungible tokens. 

Read more

Musk exploring blockchain use to curb US government spending: report

Bitcoin and Ether lead $17.8B crypto inflows

Bitcoin saw its fifth-largest week of inflows on record, helping it recapture the $60,000 mark, while Ether inflows took second place in anticipation of the US Ether ETFs.

Inflows into digital asset investment products have hit a new record of over $17.8 billion year-to-date (YTD), pointing to the start of a potential crypto market recovery.

The new record comes after cryptocurrency investment products saw a total of $1.44 billion worth of inflows last week.

According to CoinShares data, the year-to-date inflows for 2024 have reached $17.8 billion, significantly surpassing the previous record of $10.6 billion set in 2021.

Read more

Musk exploring blockchain use to curb US government spending: report

Square-Enix backs blockchain-based football MMO ‘Soccerverse’

The game uses the Polygon blockchain and currently runs in most browsers.

Soccerverse, the company behind the massively multiplayer online game of the same name, announced a $3.1 fundraise led by Japanese gaming giant Square-Enix on July 11. 

The game, which is currently available in beta, is a blockchain-based sports simulation similar to the Football Manager series that allows users to take on various roles such as coaching a team or representing a player. It runs on the Polygon blockchain and, while free-to-play, features web3 functionality.

According to a blog post, Square-Enix led the company’s most recent funding round alongside previous backer Hiro Capital.

Read more

Musk exploring blockchain use to curb US government spending: report

Ethereum ETF inflows could hit $10B, sending ETH to new highs — analyst

Expect ETH’s spot price to be more responsive to ETF inflows than BTC’s, says crypto investment manager Tom Dunleavy.

Ethereum exchange-traded funds (ETFs) will attract up to $10 billion in new inflows in the months after launch and send Ether (ETH) prices soaring to all-time highs by the end of the year, Tom Dunleavy, a managing partner at crypto investment firm MV Global, told Cointelegraph.

“We saw $15 billion in flows for Bitcoin. I think we’re probably going to see $5 to $10 billion for Ethereum,” Dunleavy said. “I expect a very positive price impact sending us to new all-time highs by early Q4.”

Eight spot ETH ETFs are awaiting a final signoff from United States regulators and are widely expected to begin trading imminently, possibly as soon as this month. The funds will join an existing roster of around a dozen Bitcoin (BTC) ETFs, which started trading in January. Collectively, BTC ETFs currently manage approximately $15.9 billion.

Read more

Musk exploring blockchain use to curb US government spending: report

Mt. Gox repayment shakes crypto market, causing volatility

Bitcoin faces immense volatility as Mt. Gox repayments flood the market.

In a long-awaited move, Mt. Gox, the infamous Bitcoin exchange that collapsed in 2014, has finally started repaying its creditors. 

This resolution to one of crypto’s most notorious scandals is not just closing a chapter to one of Bitcoin’s darkest hours but is also actively shaping the asset’s market dynamics in real time.

On July 5, Nobuaki Kobayashi — the rehabilitation trustee for Mt. Gox — announced the commencement of debt repayments to creditors in Bitcoin (BTC) and Bitcoin Cash (BCH). The repayments are facilitated through a complex network of exchanges, with each entity playing a crucial role in distributing the funds.

Read more

Musk exploring blockchain use to curb US government spending: report

Memecoins and AI are pushing Gamefi out of the spotlight

Industry figures disagree on whether GameFi is having a good year as other aspects of Web3 hog the spotlight.

Gaming’s intersection with finance and crypto — also known as Gamefi — has been a bit of a mixed bag in 2024.

Voices from across the industry have spoken to Cointelegraph to deliver their verdicts on the current state of the GameFi industry — and their conclusions are far from unanimous.

In December 2023, Cointelegraph asked industry experts to predict what 2024 would bring for the sector, and now that we’ve passed the halfway mark, we’re revisiting the subject once more.

Read more

Musk exploring blockchain use to curb US government spending: report

Bitwise files amended Ethereum ETF S-1 — experts predict July launch

SEC Chair Gary Gensler said that the commission could give final approvals on spot Ether ETFs sometime in summer 2024, while some analysts are predicting as early as July.

Asset management firm Bitwise has amended its S-1 registration with the United States Securities and Exchange Commission (SEC) to list and trade shares of a spot Ether (ETH) exchange-traded fund, or ETF.

In a July 3 filing with the SEC, Bitwise amended its Form S-1 registration statement ahead of schedule, including a six-month fee waiver for up to $500 million. The filing did not include a specific launch date for listing and trading on NYSE Arca but said it would be “as soon as practicable after the effective date” of the registration.

According to Bloomberg ETF analyst Eric Balchunas, Bitwise filed the amended S-1 ahead of a July 8 deadline, suggesting it could begin trading after the Independence Day holiday in the United States. Balchunas said the SEC was “taking [its] sweet time” greenlighting final approvals for the spot Ether ETFs, but “all indications launch still on for this month.”

Read more

Musk exploring blockchain use to curb US government spending: report

How ETFs are reshaping the crypto markets

In Cointelegraph’s latest video, experts discuss the impact of the spot Bitcoin ETF approvals on the crypto markets and the potential for a spot Ethereum ETF.

The approval of spot Bitcoin exchange-traded funds (ETFs) in the United States has been a game-changer for the cryptocurrency market, sparking a significant surge in demand and fundamentally altering market dynamics. 

In our latest video, Cointelegraph talked with experts about the profound impact of this milestone and the prospects for more ETFs being approved in the United States.

“It’s not actually just about the U.S. market,” said Ophelia Snyder, co-founder of 21Shares. “Once you remove this major risk of what is the U.S. regulator going to do about Bitcoin, it changes what the risk-return profile of the asset is,” she ad. 

Read more

Musk exploring blockchain use to curb US government spending: report

Celebrity memecoins highlight crypto’s influencer problem

Celebrity memecoins have become the latest crypto trend in 2024, with a slew of celebrity endorsements.

Celebrity memecoins are the latest influencer crypto trend, with the likes of Katlyn Jenner and Iggy Azalea recently launching their own memecoins. 

However, like each bull cycle, several celebrity-linked projects have already been accused of retail dumping and scamming unsuspecting amateur investors, highlighting the crypto market’s long-running issue with influencers.

Every bull cycle, celebrities jump on the latest trend.

Read more

Musk exploring blockchain use to curb US government spending: report