fmcpay blackrock ethereum etf hits new milestone net inflows turn positive
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BlackRock Ethereum ETF hits new milestone, net inflows turn positive

Posted on by Audrey

Launched in 2024, the BlackRock Ethereum ETF has managed to secure a position among the top fifteen ETFs based on inflows. The price of ETH doesn’t change before FOMC.

Apa itu ETF Ethereum? - Pintu News

On Tuesday, July 30, the Ethereum ETF had net inflows following four days of outflows. In this development, yesterday saw inflows of almost $118 million into the BlackRock Ether ETF ETHA. Nonetheless, there is still selling pressure on Ethereum, with the price down 1.21% at the time of writing and trading at $3,274.43.

BlackRock Ethereum ETF hits new milestones

BlackRock’s iShares Ether ETF has attracted daily inflows since its introduction. According to data from Farside Investors, as a result, the total ETHA inflows have already exceeded $618 million in just six trading sessions.

Additionally, according to statistics from ETH Store President Nate Geraci, the iShares Ether ETF has managed to hold a position among the top 15 ETFs by inflows. The iShares Ether ETF has performed exceptionally well compared to the more than 330 ETFs that have been introduced in 2024. Additionally, according to Nate Geraci, spot Bitcoin ETFs have accounted for the majority of the top four inflows.

Moreover, by year’s end, model portfolios may look to get exposure to Ether ETFs, according to BlackRock CIO Samara Cohen.

However, for the sixth straight trading day, outflows have persisted from the Grayscale Ethereum ETF (ETHE). With the ETHE withdrawals of $120 million on Tuesday, the overall outflows now exceeded $1.8 billion.

On Tuesday, however, inflows of $12.4 million and $16.4 million were recorded in Grayscales mini-ETH and Fidelity FETH, respectively. As a result, the net flows on Tuesday increased by $33.7 million.

The good news is that, according to senior crypto analyst at Steno Research, Mads Eberhardt, outflows from the Grayscale Ethereum Trust (ETHE) have been decreasing with each day that goes by, and we may soon witness withdrawals of less than $100 million.

 ETH action moving ahead

The price of Ethereum (ETH) has been under pressure as a result of the ETF withdrawals, falling more than 4.5% in the past week. ETH has a market capitalization of $394 billion and is now trading at $3,281.

According to market observers, ETH may continue to move sideways in August before eventually exploding in September. One of the main drivers of the ETH price increase may have been the September Fed rate decrease. Analysts think that Solana’s gains could not be as significant as the post-ETF spike for ETH.

XRP jumps 9% as odds of Ripple SEC Lawsuit settlement increases

In anticipation of a favorable outcome in the Ripple litigation, analysts have driven the price of XRP to $0.65. XRP intends to go to $0.90 next.

Ripple vs SEC: XRP Lawsuit Gains Support: Guest Post by Coingabbar | CoinMarketCap

Following the SEC’s change to the Binance lawsuit over the handling of third-party securities, Ripple’s native cryptocurrency, XRP, is seeing significant increases. Many people believe that this revelation might hasten the resolution of the ongoing SEC Ripple litigation. With a market value of $36.5 billion, the price of XRP has increased by more than 9%, surpassing $0.65. Consequently, XRP has been able to overtake Circle’s USDC for the sixth position. In addition, there has been a significant increase in XRP whale activity in recent weeks.

XRP Whale accumulation has skyrocketed

Over the last five weeks, there has been a notable rise in the total number of wallets holding at least 10,000 XRP, according to on-chain data provider Santiment. According to the Santiment statistics, the number of addresses related to sharks and whales on the XRP ledger has reached 279,400, which is a six-month high. Thus far in 2024, there appears to be a significant link between the increase of these huge wallets and the altcoin’s market value.

XRP Whale Activity
Courtesy: Santiment

The fact that experts believe the SEC’s removal of Solana (SOL), Cardano (ADA), Polygon (MATIC), and other altcoins from the “securities” category from the Binance case may facilitate a quicker resolution in the XRP litigation is another factor contributing to the spike in XRP.

Brad Garlinghouse, the CEO of Ripple, took aim at the US SEC for its ambiguous regulations and uneven enforcement of regulations. He said that when it comes to the uniform application of rules in the cryptocurrency field, the federal regulator is not leading by example. The latest modification may enable Ripple to contest the SEC’s designation of XRP as a security.

Where is Ripple’s XRP going next?

The price of XRP recently increased to $0.65, following a startling 133% increase in daily trading volumes to $2.726 billion. Moreover, the alternative currency is trading well above its 200-day and 50-day moving averages.

Recently, the cryptocurrency Ripple had a solid breakout from the triangular formation, and it may now target the $0.90 resistance level. A breach over $0.90, however, would pave the way for the XRP to surge to its all-time high and end its six-year price consolidation.

Mt.Gox transfers 45,511 Bitcoins to repay creditors, BTC selloff looms

$3.15 billion worth of Bitcoin has been shifted by Mt.Gox in anticipation of creditor payments. The price of Bitcoin is steady ahead of the Fed meeting.

9,2 tỷ USD Bitcoin sắp hoàn trả của Mt. Gox liệu có đe dọa đà tăng thị trường crypto?

A remarkable 45,511 Bitcoins have been exchanged by cryptocurrency exchange Mt. Gox in the last two hours as they get ready for the next round of creditor payments. At press time, the price of Bitcoin was down a little 0.5%, hovering at $66,000 after plunging by 5% yesterday.

Mt.Gox Transfers $3.15B in BTC to new wallets

The cryptocurrency exchange Mt. Gox has transferred 45,511 Bitcoin (BTC) to three distinct wallets valued at an incredible $3.15 billion, according to statistics from Spot on Chain. In order to pay back the creditors, it is quite likely that Mt. Gox would transfer these Bitcoin to controlled exchanges based on past actions.

The cryptocurrency exchange has sent 61,559 BTC, or $3.88 billion, to exchanges including Kraken, Bitstamp, and SBIVC since July 5 in order to reimburse creditors. Remarkably, despite identity verification, there have been allegations claiming that cryptocurrency exchange Kraken has refused to pay out Bitcoin to some of the creditors of Mt. Gox.

This month’s creditor repayments have caused significant fluctuation in the price of Bitcoin. It was, however, strongly rejected at $70,000 and dropped down to $66,000 late on Monday.

BTC remains stable before FOMC meeting

Investor attention is now focused on the FOMC meeting, which is set for this Wednesday, July 31. Following the early-week sell-off, investors awaited the Fed’s remarks on inflation and economic expansion as the price of Bitcoin exhibited some steadiness at about $66,000.

In the future, macro indicators will be crucial in dictating how the price of Bitcoin moves. According to statistics from BloFin, the baseline scenario is now a gradual drop in growth and inflation, with a minimal probability of a recession.

Additionally, they pointed out that the $65,000–$70,000 price range had a negative gamma. The options that expire on August 2, which have dominated the BTC options market, will be mostly driven by this gamma. Furthermore, BloFin anticipates that the volatility will increase as the weekly expiry draws near. However, despite the current price decline, Bitcoin whales have been making significant purchases.

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