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Ethereum ETF Day 1 beats ‘20% of BTC’ estimate – What’s next?
Journalist ETH ETF’s first-day results outperformed analysts’ estimates of 15-15% of BTC ETFs. BlackRock’s ETHA led the way, but Grayscale bled out nearly a half-billion in outflows. U.S. spot Ethereum [ETH] ETFs had a remarkable debut, clocking over $1 billion in trading volumes. Grayscale’s ETHE, alongside BlackRock and Fidelity ETH ETFs, saw over $100 million in day 1 trading volumes. The rest, including Vaneck, Franklin and Invesco Galaxy, saw their ETFs hit daily trading volume above $10 million apart from 21Shares. From a flow perspective, Bloomberg data revealed that the products logged $107 million in net inflows, led by $266.5...
Ripple’s RLUSD stablecoin receives final NYDFS approval
Ripple aims to capture institutional market share with its newly approved stablecoin offering. Author: Ripple Key Takeaways Ripple received final approval from NYDFS for its RLUSD stablecoin, a significant regulatory milestone. RLUSD will be backed by US dollar deposits, short-term US government treasuries, and other cash equivalents. Ripple has received final approval for its stablecoin, RLUSD, from the New York Department of Financial Services, as confirmed by Ripple CEO Brad Garlinghouse. This just in…we have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from...
German State Ends BTC Sale, as Market Experiences Uptick
One of the biggest Bitcoin liquidations in history has drawn to a close, with the German State Government Saxony finalising its last sales. The move came as State authorities seized a whopping AU $4b worth of Bitcoin from movie pirating site Movie2k.to. Unfortunately, the State’s legislation required any assets seized by law enforcement to be liquidated. However, with sell pressure finally easing, Bitcoin has steadied to post nearly 10% gains over the past week. One of the biggest factors behind Bitcoin’s late June slump has come to an end, with the German Government finally completing its BTC liquidation. The price...
