Spot Bitcoin ETFs have seen significant inflows this week, with around $1.24 billion invested as markets recover.
On July 19 alone, $384 million flowed in, led by Fidelity with $140 million.
The Chicago Board Options Exchange has announced that five Ethereum ETFs will launch on July 23, pending regulatory approval. These include funds from 21Shares, Fidelity, Invesco Galaxy, VanEck, and Franklin. Most issuers plan to waive or discount fees initially to attract investors, creating a competitive landscape.
Grayscale also plans to spin off a portion of its Bitcoin Trust into a new, more competitively priced ETF, the Grayscale Bitcoin Mini Trust.
This strategy will extend to its Ethereum product, with a new Grayscale Ethereum Mini Trust launching on July 31. Existing shareholders of ETHE will receive a proportional distribution of shares in the new mini trust, effectively diversifying their investment.
Bloomberg ETF analyst James Seyffart noted that the spinoffs would result in a distribution of value, with $1,000 in ETHE or GBTC translating to $900 in the original fund and $100 in the new mini ETFs.
This move is seen as a strategic effort to enhance market appeal and investor returns by offering more flexible investment options with potentially lower fees.
Metaplanet is aggressively expanding its Bitcoin holdings through an unconventional $5.4 billion capital raise, positioning itself as a leading BTC proxy in Asia.
BlueBird Mining Ventures, a London-listed firm traditionally focused on gold, is making headlines after announcing it will liquidate its gold reserves and begin accumulating Bitcoin as a treasury asset.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.