1. Ethereum Spot ETF Expected to Launch by July 2
Bloomberg ETF analyst Eric Balchunas predicts issuers will submit revised S-1 filings by late afternoon (ET), with SEC approval likely by July 2. This follows weeks of regulatory adjustments and marks a milestone for ETH adoption.
👉 Explore crypto ETF trends
2. Market Sentiment: Short-Term Caution, Long-Term Optimism
- Miners’ Bitcoin reserves hit 2014 lows post-halving, squeezing supply.
- Germany’s BTC sales (3,000 BTC transferred, 47k remaining) spooked markets.
- Options activity: Traders dump 1-month calls but aggressively buy Q4 2024 calls, anticipating a year-end rally. ETH volatility premiums outpace BTC by 18%.
3. VC Struggles in "Hell Difficulty" Cycle
LD Capital’s Li Xi notes:
- Portfolio gains are paper-only due to locked VC allocations.
- Early-stage investors face liquidity crunches as exchanges/projects dominate profits.
4. Ethereum ETF Filings Updated by 8 Issuers
Bitwise, Fidelity, VanEck, and others refined S-1 forms, with fee disclosures:
- Franklin Templeton: 0.19%
- VanEck: 0.20%
- BlackRock: $10M seed capital revealed.
5. BtcTurk Hack Halts Withdrawals
Turkey’s top exchange confirmed hot wallet breaches on June 22 but assured cold wallets remain secure. AVAX transactions may be linked.
6. $3M ezETH Locked in Irrecoverable Contract
User 2024.qklpj.eth accidentally sent 7,912 ezETH to an immutable CoboSafeAccount. Cobo’s founder clarified retrieval requires project-side reissuance.
Weekly Top 10 & Analysis
1. Fed Delays Rate Cuts to December
Minneapolis Fed’s Kashkari aligns with single 2024 cut, likely in Q4.
2. SEC Ends ETH 2.0 Probe
Consensys confirmed the SEC won’t classify ETH sales as securities, easing regulatory fears.
3. Germany’s BTC Sales Rattle Markets
- 1,400 BTC moved to Kraken, Coinbase, Bitstamp.
- 47k BTC (~$30.6B) remains in gov wallets.
4. CertiK vs. Kraken "White Hat" Drama
- CertiK tested Kraken’s limits, exposing $3M vulnerabilities.
- Dispute: Kraken demands 155k MATIC + $907k USDT; CertiK returned 734 ETH + 29k USDT.
5. Coinbase’s Pre-Launch Futures
Trade unlisted tokens via perpetual contracts, expanding price discovery.
6. Standard Chartered’s Crypto Desk
Spot BTC/ETH trading launches under its FX division, catering to institutions.
7. FTX Japan Acquisition Talks
BitFlyer may buy FTX Japan for billions of yen, pending U.S. court approval.
8. MicroStrategy Buys 11,931 BTC
Saylor’s firm now holds 226k BTC ($83.3B) at $36.8k avg cost.
9. NFT Market Slump
BAYC, Azuki floor prices fell ~20% in ETH terms as Blur Season 3 ends.
10. LayerZero’s Donation-Driven Airdrop
- 128M ZRO distributed.
- Users must donate $0.10 per ZRO to Protocol Guild.
FAQ
Q: When will Ethereum ETFs go live?
A: Projected July 2, pending final SEC approvals.
Q: Why are miners selling BTC?
A: Post-halving revenue drops forced liquidation of reserves.
Q: Is CertiK’s Kraken test ethical?
A: Debate centers on disclosure timing and fund handling.
👉 Stay updated on crypto regulations
Funding Highlights
- Particle Network: $15M Series A (modular blockchain).
- Renzo: $17M (re-staking).
- Sonic (Solana L2): $12M Series A.
Data sourced from crypto-fundraising.info.