Ethereum ETF Trading To Begin Tuesday

Alpha Team
July 22, 2024

📈 Ethereum ETFs Trading Starts Tuesday

Final Approval Granted: The SEC has approved eight spot Ethereum ETFs, allowing them to begin trading on Tuesday. This marks a significant milestone for Ethereum and the crypto market, as ETFs will attract substantial investment.

Market Impact and Predictions: Spot Bitcoin ETFs, approved earlier this year, brought in billions. Ethereum ETFs might draw 10-15% of Bitcoin ETFs' assets, or $5-$8 billion, says Bloomberg’s Eric Balchunas. This is still significant for a new launch.

Future Developments: Staking in Ethereum ETFs needs SEC approval, says analyst James Seyffart, emphasizing it's a matter of "when," not "if." Variant's Jake Chervinsky also supports this, noting no good reason for the SEC to deny staking in ETH ETFs. Read More.

️ On today's Top Picks:

🔜 Zircuit to launch Mainnet Phase 1 soon.
🪂 Avail to launch Mainnet & $AVAIL airdrop tomorrow.
👾 Telegram zero-day vulnerability discovered.
💰 NPC Labs raises $21M in Pre-Seed & Seed funding.

Read time: ⏰ 4 minutes

Crypto News

• ⭐️ Ethereum $ETH ETFs to begin trading tomorrow as S-1 filings receive approval.

• Optimism $OP announces Retro Funding 5 for contributors to the OP Stack.

• Gitcoin announces GG21 with 2 Ecosystem Rounds & 9 Community Rounds.

• ICYMI BitForex to return & process withdrawals following investigation by Chinese police.

• ICYMI Polygon to replace $MATIC with $POL as native gas & staking token for Polygon PoS.

Alpha

• ⭐️ Zircuit to launch Mainnet Phase 1 soon.

• Taiko launches Trailblazers Trail 5: Domains and Social on Taiko.

• ICYMI Starknet DeFi Spring Incentive Program with Argent by Earndrop.

Airdrops

• ⭐️ Avail to launch Mainnet & $AVAIL airdrop tomorrow.

• Layer3 to launch $L3 airdrop eligibility & allocation checker on July 24th.

• zkLink launches $ZKL Novadrop Round 1 claim.

• ICYMI EtherFi launches $ETHFI Season 2 Airdrop.

Finance News

• HIVE Digital $HIVE to build 100 MW crypto mining facility in Paraguay.

• Metaplanet buys an additional $1.2M of Bitcoin $BTC, now holds 245,992 Bitcoins.

• Swan Bitcoin cancels IPO as it discontinues Bitcoin mining business.

• CrowdStrike $CRWD stock continues to slide following global IT outage.

• How Stocks Performed the last time a president ended a re-election bid by MarketWatch.

Security and Exploits

• ⭐️ Telegram zero-day vulnerability dubbed 'EvilVideo' allowed malicious Android APK payloads disguised as video files.

• ICYMI WazirX exploited for ~$230M due to multi-sig wallet compromise.

• ICYMI Fractal ID faces data breach affecting 0.5% of its users.

• ICYMI LiFi publishes post-mortem regarding ~$11.6M exploit.

Token Unlocks

• Galxe / 586.67K $GAL / ~$2.3M / JUL 24
• AltLayer / 684.21M $ALT / ~$109.2M / JUL 25
• Yield Guild Games / 14.08M $YGG / ~$7.6M / JUL 27
• SingularityNET / 8.45M $AGIX / ~$5.4M / JUL 28
• Ethena / 14.89M $ENA / ~$7.1M / JUL 28

Funding

• ⭐️ NPC Labs, a web3 gaming infrastructure startup, raises $21M in Pre-Seed & Seed funding.

• Etherfuse, a real-world asset (RWA) tokenization platform, raises $3M in Seed funding led by White Star Capital & North Island Ventures.

• ZKEX, a trust-minimized and self-custodial order book DEX, raises $2.5M in Seed funding.

• Zircuit, a zk rollup, raises an undisclosed amount in "Mainnet" funding.

• SolakGPT, a web3 AI-powered browser, raises an undisclosed amount in Strategic funding.

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