🌙 Ethereum ETFs Approved by SEC

Issuers received approval for their latest S-1 filings, which means that the funds could begin trading as early as Tuesday.

Author

Mike Gavela
July 22, 2024

Crypto Roundup - July 22

The SEC has approved the first spot Ethereum ETFs, set to launch on July 23, involving major asset managers like BlackRock and Fidelity. This move is expected to bring in around $15 billion in net flows within the first 18 months, echoing the success of spot Bitcoin ETFs. Meanwhile, Hong Kong has introduced Asia's first inverse Bitcoin ETF, offering new investment opportunities. Additionally, President Joe Biden's decision not to seek re-election has introduced uncertainty in the cryptocurrency market, potentially impacting regulatory and market dynamics for Bitcoin.

Top Stories:

  • SEC approves spot Ethereum ETFs, expected to launch on July 23, driving significant investor interest.

  • Hong Kong launches Asia's first inverse Bitcoin ETF, enhancing market investment tools.

  • President Joe Biden decides not to seek re-election, creating potential shifts in Bitcoin's regulatory environment.

TOP STORIES

Ethereum ETFs Approved by SEC, Bringing Popular Funds to Second-Largest Cryptocurrency

Issuers received approval for their latest S-1 filings, which means that the funds could begin trading as early as Tuesday.

www.coindesk.com/business/2024/07/22/sec-approves-spot-ethereum-etfs

Hong Kong to launch Asia’s first inverse Bitcoin ETF

Hong Kong launches Asia’s first Bitcoin futures inverse product by CSOP, offering investors a way to profit from BTC price declines.

cointelegraph.com/news/hong-kong-launches-asia-first-inverse-bitcoin-etf

How Biden ending his re-election campaign could impact bitcoin

GSR co-CEO Rich Rosenblum weighed in on Biden’s announcement on Sunday that he’s dropping out of the presidential race.

blockworks.co/news/joe-biden-re-election-decision-potential-bitcoin-effects

FUNDRAISING

OTHER HEADLINES

Bitcoin Briefly Tops $68K as Biden Dropout Riles Up Crypto Bulls

The general possibility of a crypto-friendly government coming into power is bumping sentiment among professional traders, one firm said.

www.coindesk.com/markets/2024/07/22/bitcoin-briefly-tops-68k-as-biden-dropout-riles-up-crypto-bulls

Polymarket hits new all-time high in July trading volumes: Dune

Polymarket’s stepping into a new era with prediction markets and is quite possibly crypto’s most successful breakout use case of the year.

blockworks.co/news/polymarket-july-all-time-high-trading-volumes

Ondo Launches the First Tokenized Treasury Product on Cosmos - The Defiant

Ondo Finance is launching its US Dollar Yield Token, $USDY, on Cosmos’ asset issuance appchain, Noble, making it the first tokenized treasuries product accessible on the Cosmos ecosystem.

thedefiant.io/news/defi/ondo-launches-the-first-tokenized-treasury-product-on-cosmos

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