Spot Ethereum ETFs recorded a robust trading debut in the US on July 24 after months of speculation and regulatory uncertainty.

The ETFs recorded an impressive volume of $1.11 billion on the first trading day, led by BlackRock’s $266.5 million inflows. Within the first 90 minutes of trading, ETH ETFs recorded $361 in trading volume, reflecting strong interest and confidence in Ethereum.

While the first-day trading volume for Ethereum ETFs still represents around a quarter of the volume Bitcoin ETFs saw upon launch, it’s still a major development for ETH. Aside from a brief spike in spot price, the surge in interest for ETFs has also affected the derivatives market.

Ethereum derivatives saw a volatile June but had a relatively calm July. Over the past week, the entire derivatives market saw gradual but noticeable growth that seems to have sped up after the ETFs launched. Data from CoinGlass showed a steady climb in options open interest, particularly on July 24, when it reached $7.39 billion.

Ethereum futures followed a similar trend, albeit the larger size of the market meant that the $460 million increase in open interest didn’t show up as such a significant uptick.

A rise in open interest is significant as it often brings about increased liquidity and trading volume, providing Ethereum with a more robust market structure. As the trading activity around ETH ETFs heats up in the coming weeks, we can expect the derivatives market to continue its upward trajectory.

The growing institutional interest in ETH ETFs could very well translate into derivatives. Institutional and sophisticated investors could begin employing basis trade strategies, leading to an increase in derivatives OI and volume.

Basis trading is a sophisticated strategy that involves taking advantage of the price difference between the spot and futures market. It has become a significant part of the Bitcoin market, especially after the launch of Bitcoin ETFs. Previous CryptoSlate analysis found that the Bitcoin basis trade has significantly influenced the market, leading to flat price action that defies the inflows and volume seen in spot ETFs. With the introduction of Ethereum ETFs, a similar thing could also happen in the ETH market.

While this trading strategy suppresses any significant price action, it could bode well for Ethereum by increasing OI, creating a more liquid and active derivatives market. Such a market enhances price discovery and risk management capabilities.

However, if a basis trade involving Ethereum ETFs and derivatives gains a lot of traction, it could negatively affect the market. The most significant risk for Ethereum comes from the potential for market manipulation, where large institutional players could exploit discrepancies to manipulate prices.

Furthermore, if the basis trade becomes too crowded, it could reduce the strategy’s profitability, leading to abrupt exits and potentially triggering sharp corrections. Given the size of Ethereum’s DeFi market, this could prove especially dangerous for the coin.

The post Ethereum open interest grows as market hype grows around spot ETFs appeared first on CryptoSlate.

The post Ethereum open interest grows as market hype grows around spot ETFs appeared first on Top Crypto Game.

The market has been gearing up for volatility before the launch of spot ETH ETFs in the US today. While ETH’s price action has been relatively uninteresting in the past few weeks, it seems that large holders are expecting price swings and are rushing to cash out.

Glassnode’s data on realized profit for Ethereum holders shows a dramatic increase from $144.598 million on July 21 to $747.311 million on July 22. This is a significant spike and the highest realized profit in over 40 days.

Such a high spike warrants a detailed examination of wallet sizes and holding periods involved in the sell-off. Data shows that wallets holding between 10,000 and 100,000 ETH realized $626.982 million in profits on July 22, up from $35.744 million the previous day. This indicates that large holders, most likely institutional players or high-net-worth individuals, are cashing out ahead of the ETF launch.

Additionally, long-term holders were primarily responsible for the significant increase in realized profits. Profits from wallets holding ETH for over a year surged from $92.751 million to $666.227 million. This behavior aligns with a strategic move to lock in gains before potential market volatility associated with the ETF launch.

Analyzing realized profits by holding age, the most significant increase is seen in the 6 to 12-month holding age category, with realized profits jumping to $577.677 million from $3.964 million. This suggests that holders from mid-2023 are securing their profits.

The spike in realized profits highlights the market’s cautious approach to the anticipated changes with the advent of spot ETH ETFs. As trading heats up, we can expect more realized profits in the coming weeks. CryptoSlate previously reported that premarket trading of ETH ETFs has already generated significant interest, showing that the market is positioning itself for all of the potential opportunities and risks associated with the new ETFs.

It’s also possible that large and institutional Ethereum holders are realizing profits and reinvesting them into ETH ETFs instead of holding spot ETH directly. For institutional investors and high-net-worth individuals, ETFs’ regulatory oversight and transparency can reduce the risks associated with holding ETH directly. Another significant benefit is the simplified tax reporting associated with ETFs. In many jurisdictions, ETFs are treated more favorably for tax purposes than holding the underlying assets directly. This can translate into more efficient tax management for investors, especially with large asset volume sets.

Liquidity is another critical factor. ETFs are traded on traditional stock exchanges, which tend to offer better liquidity and easier transaction settlement. For large holders, the ability to quickly liquidate ETH positions without significantly impacting the market price could be a substantial advantage.

The post Large holders cashed out ahead of Ethereum ETF launch appeared first on CryptoSlate.

The post Large holders cashed out ahead of Ethereum ETF launch appeared first on Top Crypto Game.

Check out xRaise:

The Ethereum Spot ETF Gets approved and Ondo Finance pumps on ETH ETF and Coinbase news.NEAR Prepare for User Owned AI, xRaise Wallet hosts 50,000 Giveaway and Solv hits $1 Billion TVL for BTCFi. Stacks Nakamoto Upgrade is coming soon plsu Chainlink Pumps after ETF News

Joined our ByDFI Campaign? Get you free Altcoin Buzz Alpha Subscription. Follow the details below
Please sign up on the $15 membership on Altcoin Buzz Alpha Patreon.
Once signed up, pls DM us your wallet address and BYDFI ID via Patreon.
We will send you a cashback on the 20th of every month. (Cashback will be of $13, $2 is the processing charge)

Altcoin Buzz Trading:
Exclusive Portfolio, Gems, IDOs, Trends, Airdrops, Strategy. Buy-Sell. Stay ahead in the Bull Market! Join Altcoin Buzz Alpha.
Get 1 month FREE, if you Join the YEARLY Subscription

●▬▬▬▬▬▬▬Recommendations▬▬▬▬▬▬▬▬●
Read the Article:

TIMESTAMPS
00:00 Intro
0:57 Ethereum ETF Gets approved!
2:38 Ondo Finance pumps on ETH ETF and Coinbase news
3:42 NEAR Prepare for User Owned AI
4:25 xRaise Wallet hosts 50,000 Giveaway!
5:13 Solv hits $1 Billion TVL for BTCFi
6:01 Stacks Nakamoto Upgrade is coming soon
6:57 Chainlink Pumps after ETF News
●▬▬▬▬▬▬Freebies▬▬▬▬▬▬▬●
FREE WEEKLY MARKET & NFT UPDATE REPORTS

FREE CRYPTO PROJECT EVALUATION CHECKLIST
Use this checklist to help you with the research and due diligence process for any crypto project.

●▬▬▬▬▬▬▬▬Affiliate Links▬▬▬▬▬▬▬▬▬●
BYDFi
Get up to $8,698 | American Friendly | No KYC
Bybit
Get up to $30,000
Bitget
Get up to $5,000 deposit bonus | No KYC required
MEXC
Participate in weekly $300,000 USDT airdrops & more

●▬▬▬▬▬▬Community & Socials▬▬▬▬▬▬▬●
FREE TRADING SIGNALS
ALTCOIN BUZZ CHAT
TOP CRYPTO NEWS
FREE NEWSLETTER
TWITTER
COINGECKO

●▬▬▬▬▬▬Disclaimer▬▬▬▬▬▬▬●
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Please do your own due diligence and rating before making any investments and consult your financial advisor. We believe that the information presented is correct and accurate, however, there is no guarantee or warranty as to the accuracy, timeliness, or completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

Altcoin Buzz may receive a commission, at no extra cost to you, if you click through our links and make a purchase from one of our partners.

The Morpheus Labs and xRaise Segment is sponsored by their team.

#cryptonews #bitcoin #ethereum

source

The post Why Did This Altcoin Pump 1241%? ETH LINK PUMP? appeared first on Top Crypto Game.

Bitcoin ETFs hit record volume on the first day of trading, and is an Ethereum ETF coming next? Coinbase sees huge outflows of BTC OTC, Injective completes Volana Mainnet upgrade, and Storm Warefare is coming to Seedify!

Altcoin Buzz Trading:

Introducing the ALTCOINBUZZ ALPHA x DECUBATE Special Offer! Decubate Bronze+ Tier Members can now claim a full refund on your 1st month of Altcoin Buzz Alpha Membership!
Eligibility
Submit your Bronze+ Member email ID to #Alpha channel in Discord
Join Altcoin Buzz Alpha Membership 
Stake Decubate:

Joined our ByDFI Campaign? Get you free Altcoin Buzz Alpha Subscription. Follow the details below
Please sign up on the $15 membership on Altcoin Buzz Alpha Patreon.
Once signed up, pls DM us your wallet address and BYDFI ID via Patreon.
We will send you a cashback on the 20th of every month. (Cashback will be of $13, $2 is the processing charge)

●▬▬▬▬▬▬▬Recommendations▬▬▬▬▬▬▬▬●
Read the Article:

TIMESTAMPS
00:00 Intro
1:00 BTC ETF first day inflows
5:06 Storm Warfare IGO coming to Seedify!
5:44 Injective launches Volan Mainnet upgrade
8:14 Coinbase sees huge OTC outflows?!
9:12 Ethereum ETF coming soon?
●▬▬▬▬▬▬Freebies▬▬▬▬▬▬▬●
FREE WEEKLY MARKET & NFT UPDATE REPORTS

FREE CRYPTO PROJECT EVALUATION CHECKLIST
Use this checklist to help you with the research and due diligence process for any crypto project.

●▬▬▬▬▬▬▬▬Affiliate Links▬▬▬▬▬▬▬▬▬●
BYDFi
Get up to $8,698 | American Friendly | No KYC
Bybit
Get up to $30,000
Bitget
Get up to $5,000 deposit bonus | No KYC required
MEXC
Participate in weekly $300,000 USDT airdrops & more

●▬▬▬▬▬▬Community & Socials▬▬▬▬▬▬▬●
FREE TRADING SIGNALS
ALTCOIN BUZZ CHAT
TOP CRYPTO NEWS
FREE NEWSLETTER
TWITTER
COINGECKO

●▬▬▬▬▬▬Disclaimer▬▬▬▬▬▬▬●
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Please do your own due diligence and rating before making any investments and consult your financial advisor. We believe that the information presented is correct and accurate, however, there is no guarantee or warranty as to the accuracy, timeliness, or completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

Altcoin Buzz may receive a commission, at no extra cost to you, if you click through our links and make a purchase from one of our partners.

The Storm Warfare Segment is sponsored by their team.

#cryptonews #bitcoin #bitcoinetf #injective

source

The post NEXT BIG CRYPTO RISK!! Ethereum ETH Injective INJ Moonshot? 🚀 appeared first on Top Crypto Game.

JPMorgan predicts that the newly approved spot Ethereum exchange-traded funds (ETFs) will likely begin trading before the November US presidential elections, citing crypto’s increasing political significance.

This outlook follows the US Securities and Exchange Commission’s (SEC) unexpected approval of eight spot Ethereum ETFs on May 23, marking a notable shift from the previous skepticism surrounding these financial instruments.

The SEC approved the 19b-4 forms for the Ethereum ETFs, which include offerings from VanEck, BlackRock, Grayscale, and Fidelity. However, these products still require activating their S-1 registration statements before trading can commence.

JPMorgan emphasized this development, stating:

“The issuers’ registration statements remain under review by the SEC. As such, there is no anticipated date on when these ETFs will begin trading.”

While Galaxy analysts foresee trading starting as early as July or August, JPMorgan maintains a more cautious stance. They believe that political factors related to ETF approval and crypto regulation could influence the timeline. They noted:

“We note this important step yesterday towards the final approval comes after a sudden reversal in regulatory sentiment earlier this week when the SEC seemingly re-engaged with stakeholders after months of stalled conversations.”

This perspective aligns with recent significant political and regulatory developments in the crypto industry.

Last week, the House passed FIT21, a significant legislative effort to clarify the SEC’s role in crypto regulation. Additionally, President Joe Biden expressed willingness to cooperate with Congress to establish a comprehensive and balanced regulatory framework for digital assets.

Moreover, former President Donald Trump announced he would accept crypto for campaign donations.

These events, combined with both houses of Congress voting to overturn an SEC crypto-related rule despite President Biden’s veto threat, signal a major stride toward mainstream acceptance of crypto as a financial asset.

The post JPMorgan sees spot Ethereum ETFs trading before 2024 elections amid political gains appeared first on CryptoSlate.

The post JPMorgan sees spot Ethereum ETFs trading before 2024 elections amid political gains appeared first on Top Crypto Game.

A bipartisan group of US lawmakers advised the Securities and Exchange Commission (SEC) in a May 22 letter to approve spot Ethereum exchange-traded funds (ETFs).

The letter signatories included Financial Committee Vice Chairman Rep. French Hill, House Majority Whip Tom Emmer, and Representatives Josh Gottheimer, Mike Flood, and Wiley Nickel.

Ethereum ETF

In the letter addressed to SEC Chair Gary Gensler, the lawmakers urged the regulator to apply the same principles it used for spot Bitcoin ETFs to Ethereum ETF applications. They argued that this would demonstrate regulatory consistency.

The letter noted that the launch of Bitcoin ETPs provided a regulated and transparent investment vehicle for American investors. It also highlighted the SEC’s commitment to investor protection and acceptance of modern financial markets — arguing that approving an Ethereum ETF would reinforce this commitment.

The lawmakers added:

“With the Commission’s actions earlier this year, it seems a natural progression that would not only demonstrate consistency in the Commission’s application of its standards but would also affirm the legal reasoning that facilitated the spot Bitcoin ETPs decision.”

The legislators also stated that the SEC’s market surveillance and enforcement measures would mitigate concerns about market manipulation and that transparency and reporting requirements would enable investors to make informed decisions.

The support for Ethereum ETFs comes amid a shifting regulatory landscape for crypto in the US. Recently, the industry has been at the center of conversations and debates, leading to the passage of bills to create regulatory clarity for the emerging industry.

‘Stay tuned’

The SEC Chair hinted that a decision on the pending ETH ETF applications is imminent, advising market observers to “stay tuned.”

Several industry experts anticipate the approval of these financial instruments later today, on May 23.

After weeks of minimal engagement, the SEC recently asked exchanges supporting the ETF applications to refile their 19b-4 forms with standardized language. Additionally, the SEC seems to be engaging directly with potential issuers, as companies like Grayscale have filed updated S-1 forms this week.

The post Bipartisan push for Ethereum ETF gains momentum in Congress appeared first on CryptoSlate.

The post Bipartisan push for Ethereum ETF gains momentum in Congress appeared first on Top Crypto Game.

Altcoin Buzz Trading:

Introducing the ALTCOINBUZZ ALPHA x DECUBATE Special Offer! Decubate Bronze+ Tier Members can now claim a full refund on your 1st month of Altcoin Buzz Alpha Membership!
Eligibility
Submit your Bronze+ Member email ID to #Alpha channel in Discord
Join Altcoin Buzz Alpha Membership 
Stake Decubate:

Joined our ByDFI Campaign? Get you free Altcoin Buzz Alpha Subscription. Follow the details below
Please sign up on the $15 membership on Altcoin Buzz Alpha Patreon.
Once signed up, pls DM us your wallet address and BYDFI ID via Patreon.
We will send you a cashback on the 20th of every month. (Cashback will be of $13, $2 is the processing charge)

●▬▬▬▬▬▬▬Recommendations▬▬▬▬▬▬▬▬●
Read the Article:

TIMESTAMPS
00:00 Intro
1:13 What’s next for BTC?
3:58 SEC Commissioner says this about the ETF
5:24 Vaneck expects big trading on day 1
7:15 ETH outperforms BTC after the ETF news!

●▬▬▬▬▬▬Freebies▬▬▬▬▬▬▬●
FREE WEEKLY MARKET & NFT UPDATE REPORTS

FREE CRYPTO PROJECT EVALUATION CHECKLIST
Use this checklist to help you with the research and due diligence process for any crypto project.

●▬▬▬▬▬▬▬▬Affiliate Links▬▬▬▬▬▬▬▬▬●
BYDFi
Get up to $8,698 | American Friendly | No KYC
Bybit
Get up to $30,000
Bitget
Get up to $5,000 deposit bonus | No KYC required
MEXC
Participate in weekly $300,000 USDT airdrops & more

●▬▬▬▬▬▬Community & Socials▬▬▬▬▬▬▬●
FREE TRADING SIGNALS
ALTCOIN BUZZ CHAT
TOP CRYPTO NEWS
FREE NEWSLETTER
TWITTER
COINGECKO

●▬▬▬▬▬▬Disclaimer▬▬▬▬▬▬▬●
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Please do your own due diligence and rating before making any investments and consult your financial advisor. We believe that the information presented is correct and accurate, however, there is no guarantee or warranty as to the accuracy, timeliness, or completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

Altcoin Buzz may receive a commission, at no extra cost to you, if you click through our links and make a purchase from one of our partners.

#cryptonews #bitcoin #bitcoinetf #ethereum

source

The post This Altcoin Can Change Your Life! appeared first on Top Crypto Game.