It's Go Time for ETH ETFs gm Bankless Nation, The first spot ETH ETFs are arriving next week. With these products being a new way for investors to gain exposure to Ethereum, one question remains: what will the initial inflows look like? Today's Issue ⬇️ - 🗞️ Recap: ETH ETFs Launch Date
Mark your calendars for July 23rd! - 🎧 Rollup: The Trump Pump
U.S. politics is catalyzing crypto. - 🕰️ Catch Up: What We Published
Solana's LST scene. Aping on Ape.
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Sponsor: Uniswap Extension — Say goodbye to pop-ups. Download today. . . . WEEKLY RECAP ETH ETFs Slated to Launch 1️⃣ Spot ETH ETFs Officially Launching Next WeekMark your calendars! Five spot Ethereum ETFs, including via major names like Fidelity and VanEck, will officially launch on July 23rd. Cboe, the exchange where these ETFs will trade, confirmed this in new issue notifications published on Friday. Bloomberg analyst Eric Balchunas previously hinted that firms would "request effectiveness" next Monday, and his predictions about the July 23rd launch date have proven accurate. 2️⃣ Bitcoin's Price Soars Amid ETF InflowsSince hitting (most likely) the bottom last week, the BTC price climbed 14%, touching $66K before correcting down to ~$64K. This came amid a record nine-day streak of ETF inflows propelling its price upwards even as Mt. Gox selling pressure began to come online. Many believe Trump’s assassination attempt also boosted the market, aided by his announcement of crypto-supportive senator J.D. Vance to be his running mate. 3️⃣ Mt. Gox Redistributions Kick Off, BlockFi’s Are Near, and FTX Settles for $12.7BMt. Gox, infamous for its 2014 hack, began moving $3.1B in BTC to exchanges like Kraken, facilitating payouts to past users who should receive funds over the next two weeks. BlockFi, the bankrupted lending service, also announced they will begin distributions this month with the help of Coinbase. Finally, in the FTX saga, the estate settled with the CFTC for $12.7B, marking a crucial turn in its reorganization efforts. This settlement, awaiting court approval, underscores a shift to now prioritizing creditor recoveries over regulatory penalties. 4️⃣ Nearly $250M Lost in HacksWazirX, one of India's largest crypto exchanges, faced a severe security breach of its multisig, which resulted in $230M worth of tokens being stolen. This incident could pressure India's already cautious crypto regulatory landscape, potentially leading to stricter security and investor protection policies. WazirX was not the only hack this week, with cross-chain protocol LI.FI seeing an $11.6M hack. It has since become safe to use again. 5️⃣ Polymarket Hits Another Trading Volume All-Time HighThis cycle’s darling app Polymarket once again hit new all-time highs in trading volume, fueled by more political uncertainties and high-profile additions like Nate Silver, a prominent election poll analyst, to its advisory board. This surge in activity highlights the growing influence of prediction markets in financial and political discourse, offering a novel avenue for speculative and hedging opportunities in the crypto space. As of Thursday, the decentralized prediction market’s July volume sits at $142M. FRIEND & SPONSOR: UNISWAP Say hello to the Uniswap Extension, the first wallet to live in your browser’s sidebar. Swap, sign, send, and receive crypto anywhere on the web without dealing with pop-ups. Designed for a multi-chain world, with support for 11+ networks. . . . WEEKLY ROLLUP The Trump Pump It was another big week for the crossroads of crypto and politics! In the latest rollup, David and Ryan explore Trump's announcement of a pro-crypto running mate and his plans to surpass China in the crypto race. Also, they dig into the newest essay from Ethereum cofounder Vitalik Buterin on crypto politics. Listen in! 👇 . . . GET CAUGHT UP What We Published 📰 Articles:📺 Shows: . . . GO BANKLESS Don't Miss Another Airdrop! Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again? Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 100 other crypto protocols in Airdrop Hunter waiting for you. |
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