Author: Andrei Ionescu

BlackRock’s iShares Ethereum Trust (ETHA) has achieved a significant milestone, becoming the first Ethereum exchange-traded fund (ETF) to surpass $1 billion in net inflows. Data shows that ETHA reached this landmark on Tuesday, solidifying its position as a dominant player among the 11 recently launched spot ether ETFs. Currently, ETHA holds over $860 million in net assets, making it the third-largest Ethereum product overall, trailing only Grayscale’s mini ether trust (ETH) and Ethereum trust (ETHE). What’s more, ETHA’s inflows exceed the combined totals of the next three highest Ethereum ETFs: Fidelity’s FETH ($367 million), Bitwise’s ETHW ($310 million), and Grayscale’s…

The decreasing growth rate of bitcoin whale holdings is being viewed as a bearish signal for the cryptocurrency’s price, according to a recent report from on-chain data provider CryptoQuant. In its weekly report, CryptoQuant noted that the 30-day percentage change in bitcoin whale holdings has dropped significantly, from 6% in February to just 1% currently. The report suggests that this reduced accumulation by large-scale holders often seen as a key factor in driving bitcoin’s price—is a sign of bearish market conditions. “Historically, a monthly growth rate of over 3% in whale holdings has correlated with rising bitcoin prices, which we…

U.S. spot bitcoin exchange-traded funds (ETFs) witnessed $88.06 million in net inflows on Tuesday, marking the fourth consecutive day of positive flows. The trend indicates sustained interest from investors, even amid recent market volatility. Leading the inflows was BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, which attracted $55.43 million. Ark Invest and 21Shares’ ARKB fund followed closely with $51.91 million in inflows, according to data from SoSoValue. On the other side, Grayscale’s GBTC experienced the highest net outflows, with $12.81 million withdrawn. Bitwise’s BITB also reported $6.47 million in outflows, while eight other spot bitcoin ETFs, including…

Polish national Roman Ziemian, co-founder of the digital currency trading platform FutureNet, has been arrested in Montenegro following allegations of defrauding users out of approximately $21 million, according to reports from local authorities. Ziemian was apprehended in a joint operation involving Montenegrin police and Interpol after evading capture for over a year. Ziemian had previously escaped house arrest in Italy in 2022, prompting both Poland and South Korea to issue international warrants for his arrest. Montenegrin law enforcement found him hiding under a false identity in a newly developed residential area in the capital, Podgorica. During the operation, officers seized…

Nigeria’s Securities and Exchange Commission (SEC) is preparing to introduce a licensing process for digital asset issuers, including those dealing in cryptocurrencies, as the country sees a surge in crypto adoption. According to a report by Bloomberg on Tuesday, the SEC aims to issue its first licenses for digital services and tokenized assets as early as this month. Director-General Emomotimi Agama emphasized the significant growth of the market, saying, “The market size is huge, and it is growing.” The move aligns Nigeria with other nations that have implemented crypto licensing frameworks to regulate and manage the rapidly expanding digital asset…

Despite recent fluctuations in bitcoin prices, institutional investors are showing strong resilience and commitment to their spot exchange-traded fund (ETF) holdings, according to industry analysts. This trend underscores the growing mainstream acceptance of bitcoin as a reliable investment asset, even amid significant market volatility. André Dragosch, Head of Research Europe at Bitwise, highlighted data from recent 13F filings for Q2 2024, noting a solid commitment from institutional investors toward bitcoin-based ETFs compared to other asset classes like gold. “Institutional investors are not deterred by increased bitcoin volatility. Many are holding steady or even adding to their positions,” Dragosch. The data…

Binance, the world’s largest cryptocurrency exchange, has announced its support for the upcoming Simon’s Cat ($CAT) airdrop for holders of $FLOKI on its platform. Users who hold at least 400,000 $FLOKI tokens on Binance will be eligible for the airdrop, which will be automatically distributed to qualifying accounts. Key Details of the Airdrop: The more $FLOKI tokens a user holds above the 400,000 minimum, the more $CAT tokens they will receive. Automatic Distribution Eligible users do not need to take any additional steps; the $CAT tokens will be credited directly to their Binance accounts following the snapshot. Final details and…

Global custody bank State Street, which oversees $44.3 trillion in assets, has partnered with Swiss firm Taurus to provide digital asset services, with an initial focus on tokenization. The move is seen as a preparatory step for offering crypto custody services once the U.S. regulatory landscape becomes more favorable. State Street’s first step will be launching tokenized versions of traditional assets, with plans to onboard its first client soon after, according to the bank. Although digital asset custody is a natural extension for the bank, the restrictive U.S. regulatory environment—specifically the Securities and Exchange Commission’s (SEC) proposed Staff Accounting Bulletin…

Mango Markets, a Solana-based decentralized finance (DeFi) platform that lost over $110 million in a 2022 exploit by Avraham Eisenberg, is considering a settlement proposal with the U.S. Securities and Exchange Commission (SEC). The regulator had accused Mango Markets of violating U.S. securities laws. The platform’s governing body, Mango DAO, opened voting on Monday for the “SEC Settlement Offer Proposal.” If approved, the proposal would require Mango to pay $223,228 in fines to the SEC, destroy its remaining MNGO tokens, and request delisting from trading platforms. The proposed settlement aims to resolve the SEC’s allegations while avoiding litigation, with Mango…

Crypto traders are pouring hundreds of millions into bitcoin (BTC) options tied to the upcoming U.S. elections, with nearly $350 million in open interest reflecting a strong bullish sentiment. These “election expiry options,” which settle four days after the Nov. 4 elections, began trading on Deribit just a month ago. According to Amberdata, the notional open interest or the total dollar value of active contracts currently stands at $345.83 million. Most of the interest is concentrated in call options, which represent 67% of the total, while the remaining 33% are put options. The resulting put-call ratio of under 0.50 indicates…