Rhythm Morning News｜A list of important news from last night and this morning on July 23

Ethereum spot ETF officially approved for listing and trading

BlockBeats news, on July 23, according to official information from the SEC, it has officially approved the S-1 applications of multiple ETF issuers. Ethereum spot ETF has been officially approved for listing and trading, and initial trading is expected to start tomorrow (Tuesday morning US time, tomorrow night Beijing time).

Today in History: Ethereum Launches ICO Financing for Ten Years

BlockBeats news, July 22, 2014, Ethereum officially launched ICO financing, the team raised funds by pre-selling ETH, a total of 31,529 bitcoins (the exchange rate was 1 bitcoin to 2000 Ethereum), according to the market price at the time, the funds raised exceeded 18 million US dollars.

Ten years later, the New York Stock Exchange ARCA is approving the listing of five Ethereum spot ETFs including VanEck, Invesco, Fidelity, 21Shares, and Franklin Templeton.

As Ethereum researcher Justin Drake said, "ETH is the currency of block space. Since EIP-1559, 4.3 million ETH has been burned to pay gas fees. Millions more ETH will be used for block space.

Through staking, ETH provides $100 billion in economic security for Ethereum, 10 times that of Bitcoin. ETH is also a high-quality collateral for DeFi and re-staking, unlocking economies of scale bandwidth for the Internet of Value. ETH is now widely recognized as a digital commodity. The institutional journey is about to begin."

Wintermute and Kaiko predict: Initial demand for spot Ethereum ETFs may be lower than expected

BlockBeats news, on July 23, market maker Wintermute believes that Ethereum ETF It could attract up to $4 billion in inflows from investors in the next year. This is lower than the $4.5 billion to $6.5 billion expected by most analysts, and the latter is about 62% less than the $17 billion that Bitcoin ETFs have attracted since they were traded in the United States in the past six months.

However, Wintermute expects that Ethereum’s price could rise by as much as 24% over the next 12 months, driven by these inflows.

U.S. regulators rejected a request from issuers to allow Ethereum ETFs to stake their cryptocurrency holdings, which would have generated income and shared it with investors. “This loss reduces the competitiveness of Ethereum ETFs relative to direct holdings, and investors can still benefit from staking,” Wintermute said in its report.

Research firm Kaiko holds a similar view based on previous Ethereum-focused launches.

“Demand for the futures-based Ethereum ETF launched in the U.S. late last year was muted,” Will Cai, head of Kaiko indices, said in a report. “All eyes are on the launch of spot ETFs, hoping to quickly accumulate assets.” He also said that regardless of the long-term trend, Ethereum’s price could be “sensitive” to the amount of inflows in the first few days of trading. (CoinDesk)

Analysis: Lack of staking function makes Ethereum ETF relatively less attractive

BlockBeats news, on July 23, London investment management company Farside Investors released a report saying, "We believe that the inflow of funds for Ethereum ETF may be smaller than that of Bitcoin ETF for the following reasons:

1. Bitcoin ETF was approved first and attracted more attention;

2. Before the approval of the US spot ETF, the market size of Bitcoin's exchange-traded products (ETP) was larger than that of Ethereum;

3. The lack of staking function makes Ethereum ETF relatively less attractive;

4. Bitcoin is more relevant as a financial asset, while Ethereum focuses more on decentralized applications (dApp) and on-chain use."

BTC options market data shows that traders are prepared for "extreme" volatility this week

BlockBeats news, on July 23, according to the options market activity data on Deribit tracked by Amberdata, the "Butterfly Index" of the BTC options market has risen significantly. The index measures the volatility of out-of-the-money (OTM) 25-delta (∆25) call options and put options that are far away from the Bitcoin BTC spot market price relative to the at-the-money (ATM) options that are close to the spot price. The surge in the index indicates that the market expects more extreme volatility.

Greg Magadini, head of derivatives at Amberdata, said: "We will hear Trump speak at the Nashville Bitcoin Conference this week. This will be a potential catalyst for 'something is about to happen' this week. The derivatives market seems to agree with this view, and we see that pricing does support the claim that 'something is about to happen'."

BlockBeats previously reported that there are reports that Trump may announce that BTC will play a more important role in the US financial system, and many industry insiders said that Trump will then announce that Bitcoin will be a strategic reserve asset. Markus Thielen, founder of 10x Research, believes that this situation will trigger a parabolic rise in the price of Bitcoin.

Worldcoin Foundation responds to insider trading allegations: zero tolerance policy, no evidence found

BlockBeats news, July 23, the Worldcoin Foundation and Worldcoin project contributor Tools for Humanity (TFH) responded to recent community rumors BlockBeats said, "Both organizations take any allegations of insider trading very seriously, even if they are unfounded or unconfirmed. If such behavior occurs, we will adopt a zero tolerance policy.

Neither organization has found any evidence to confirm the recent allegations, and we each maintain a strict market integrity policy designed to prevent such activities.

Therefore, all personnel covered by our policy are prohibited from disclosing confidential information related to WLD purchase decisions at any time, and during the relevant period, they are in a position that explicitly prohibits them from participating in any WLD The block period for trading activities."

Swan Bitcoin abandons IPO plan, lays off employees and will close the mining department

BlockBeats news, July 23, according to CoinDesk, Bitcoin financial services company Swan Bitcoin abandoned its public listing plan, closed its managed mining department, and laid off employees in multiple departments.

Swan CEO Cory Klippsten said on social media that the company will continue to provide Bitcoin (BTC) financial services and free Bitcoin education, "Since we no longer expect to obtain significant short-term income from the managed mining department, we have decided to cancel the recent IPO plan."

Jupiter will work with Irene Zhao to launch a meme coin metadata platform

BlockBeats news, on July 23, Jupiter co-founder meow posted on social media that he will work with Irene Zhao to launch the meme coin metadata platform ASIANMOM, trying a new launch mechanism to improve the meme coin metadata to solve the current meme coin release metadata There are some major PvP problems: including false widespread distribution, sniping, opaque development allocation, lying "influencers", using development dumps for large-scale pre-sales, etc.

In order to work closely with the Jupiter community, Jupiter DAO will receive 5% of ASIANMOM tokens. The ASIANMOM team will decide when to deliver. The Jupiter team will establish the required mechanisms and initial airdrop list.

Blockchain asset management company Superstate launches private tokenized fund USCC

BlockBeats news, on July 22, blockchain asset management company Superstate announced the launch of its second investment product, Superstate Crypto Carry Fund (USCC). USCC is a private tokenized fund designed to provide qualified buyers with compliant and convenient crypto "cash-and-carry" transactions, with ownership represented in the form of tokenized and non-tokenized shares.

USCC's strategy takes advantage of the price difference between the spot and futures markets of Bitcoin and Ethereum, and will optimize the returns and risks of the portfolio, including basic opportunities, pledges, and U.S. Treasuries (relative to the Federal Funds Rate). By offering the option to issue USCC as an ERC-20 token on the Ethereum blockchain, the fund will allow qualified investors to use it for collateral or settlement in the future, thereby increasing its utility.

Last November, Superstate completed a $14 million financing round led by CoinFund and Distributed Global, with participation from Arrington Capital, Breyer Capital, CMT Digital, Department of XYZ, Folius Ventures, Galaxy Digital, HackVC, Modular Capital, Nascent, and Road Capital Management. The company, led by Robert Leshner, founder of DeFi lending platform Compound, has designated funds for team expansion, the creation of a private fund for institutional investors, and the development of a framework for tokenized public funds.

Ord.io: Liquidium Runes airdrop for OMB, Quantum Cats and other holders has begun

BlockBeats news, on July 22, Ord.io announced on the X platform that the Liquidium Runes airdrop has begun. OMB, Quantum Cats, Pizza Ninjas, Bitcoin Puppets and NodeMonkes holders can check their wallets to confirm whether they have received the airdrop.

It is reported that Liquidium Runes is issued by Liquidium, a Bitcoin asset lending platform.

Manta Network has successfully completed testnet integration with data availability layer Nubit

BlockBeats news, July 22, according to official news, Manta Pacific has successfully integrated with the modular blockchain Nubit DA testnet. Through this integration, Nubit can improve Manta's scalability, reduce costs, and take security on the Manta network to a higher level.

This enables dApps on Manta to take advantage of Nubit's trustless, scalable data availability layer (protected by Digital Gold (Bitcoin)) and existing infrastructure.

Coinbase: Will provide custody services for 8 US spot Ethereum ETFs

BlockBeats news, on July 23, the cryptocurrency trading platform Coinbase officially stated that today, the US Securities and Exchange Commission (SEC) approved the application of 9 spot Ethereum ETFs.

Following the approval of the US SEC for the spot Bitcoin ETF in January this year, the approval of the spot Ethereum ETF marks another important milestone for cryptocurrency, reflecting the continued innovation and increasingly mature regulatory environment around crypto assets.

Coinbase has also become a trusted partner and custodian for 10 Bitcoin spot ETFs and 8 newly approved Ethereum spot ETFs.

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