ETH ETF Launch Expected by Week's End!

ETF analyst Nate Geraci says there’s no “good reason” for spot Ethereum ETFs not to launch this week.

Author

Danielle du Toit
July 15, 2024

Here's what we've got for you today:

  • Ethereum Tops $3.3K as Analysts Tip ETF Approvals This Week

  • Assassination Attempt Propels Trump’s 2024 Elections Odds to 71% on Polymarket

  • A Michael Saylor Tweet Inspires Confidence as Bitcoin Rebounds

  • Mithril Upgrade Unveiled by Hoskinson Amid Criticism of Cardano

⌛️ Ethereum Tops $3.3K as Analysts Tip ETF Approvals This Week

According to ETF analyst Nate Geraci, there’s no “good reason” for spot Ethereum ETFs not to launch this week.

  • Ethereum's price has jumped past $3,300 amid anticipation of spot Ether ETFs launching soon, potentially by the end of the week.

  • Several issuers including VanEck and 21Shares filed amended registrations last week, seeking the SEC's final approval to list these ETFs.

  • Analysts, including Tom Dunleavy from MV Global, predict that the ETFs could attract up to $10 billion in inflows, driving ETH prices to new all-time highs by the year's end.

While Trump’s chances have soared to new highs, current President Joe Biden’s chances have dwindled to 18%.

  • Bets totaling more than $250 million have been placed on Polymarket, with $31.8 million on Trump, $33.6 million on Biden, $16 million on Kamala Harris, and $13 million on crypto-friendly candidate Robert F. Kennedy, Jr.

  • Trump's winning chances surged after narrowly escaping an assassination attempt on Saturday.

  • According to InteractivePolls, Trump's chances of victory in key swing states have also increased, with Pennsylvania at 67%, Wisconsin at 65%, Michigan at 61%, and Arizona at 78%.

Saylor praised Bitcoin’s performance compared to other major asset classes in one of his latest tweets after BTC was able to climb back above $60K.

  • Michael Saylor tweeted, "Bitcoin is the bridge from chaos to hope," and also pointed out Bitcoin's superior yearly performance compared to other major asset classes from 2013 to 2023.

  • Recently, Bitcoin's decline from its March record accelerated because of concerns about Mt. Gox, the German government's Bitcoin sales.

  • Bitcoin whales took advantage of this slump and accumulated 71,000 BTC.

In a recent statement, Charles Hoskinson provided an update on the highly anticipated Mithril upgrade that is slated for release later this year.

  • The Mithril upgrade will enhance the scalability of the Cardano network by making it possible for applications to operate without running full nodes or validating every transaction.

  • Mithril’s main goal is to create a more decentralized and secure environment, which will reduce the risks of centralization and ensure the integrity of the entire network.

  • Hoskinson had to respond to criticism from a very vocal social media user who targeted Cardano's cryptocurrency ADA, calling it an "s-coin with zero value."

👀 QUICK NEWS

MEME OF THE DAY

How did you like today's newsletter?

Login or Subscribe to participate in polls.

That’s it for today. Don’t forget to share Coinpaper Digest with your friends!