Spot ETH ETF to Launch on This Date — Report | Key Points | July 17, 2024
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s recap: Ethereum.
Here are the latest crypto news stories in the last 24 hours.
Market Analysis and Updates 📈
Crypto Price Update
Here are the crypto highlights of the day:
- Bitcoin (BTC): $65,902.98, up 2.5% over the last 24 hours.
- Ethereum (ETH): $3,503.88 up 1.3% over the last 24 hours.
- Solana (SOL): $162.07, up 2.4% vs the previous day.
Trending Coins Update
- Altair: $0.05379, up 296.3% vs the previous day.
- Mochi: $0.00002, up 74.3% over the last 24 hours.
- Hoppy: $0.00010, down 10.6% vs the previous day.
For the daily price update, check out our post on Facebook.
📺 This Thursday: BitPinas Webcast with Coins and Sky Mavis!
Join us in the next BitPinas webcast featuring Wei Zhou, the CEO of Coins .ph, and Jeff Zirlin, the Co-Founder of Sky Mavis, as they discuss the launch of PHPC (Peso Stablecoin) on the Ronin blockchain!
Feature News: SEC Greenlights Spot Ether ETFs for Trading on July 23 – Report
The SEC has given preliminary approval for at least three companies to launch spot Ether ETFs. Trading is expected to begin on July 23.
What’s the significance: This is a big step for the cryptocurrency industry, making digital assets more accessible to mainstream investors, Cointelegraph and Reuters reported.
- This could also start the ETH bull run, people are expecting.
Previously: Earlier this year, spot Bitcoin ETFs launched successfully, drawing significant investment. Now, Ether, the second-largest cryptocurrency, is following suit.
By the numbers:
- Ether Price: Currently $3,503.88, up 7.1% today and 14.4% over the past week.
- Bitcoin Market Value: Over $1 trillion.
- Ether Market Value: $359 billion.
Companies must submit final documents to the SEC by the end of this week. If approved, trading will start on July 23.
What to watch:
- Ether’s price might fluctuate leading to the date.
- Experts predict more modest investments in Ether ETFs compared to Bitcoin ETFs.
What’s next: If granted, the ETFs will be listed on major exchanges like Nasdaq and the New York Stock Exchange.
Philippine Crypto News 🇵🇭
- YGG execs highlight importance of digital literacy during YGG PH Roadtrip event.
- ICP Hub PH announced that its co-founder Nelson Lumbres will be speaking at the World of Consumer Electronics Expo on Aug. 7-10.
- The Philippines ranked 6th in the submissions for the Superteam Talent Olympics.
Educational Corner 🎓
While Telegram games are still on the rise, check out BitPinas’ new guide on Dogs.
- It is a rising game in the TG Mini-Apps Ecosystem that allows users to earn $DOGS tokens just by having a Telegram account.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- Hong Kong‘s Financial Services and the Treasury Bureau will soon publish the results of a consultation on stablecoin issuers, aiming to establish a legislative framework that includes licensing requirements and regulatory measures for stablecoin issuers.
- Hong Kong police arrested three individuals for allegedly swindling a businessman out of HK$3.11 million in Tether coins using bundles of fake HK$1,000 banknotes.
- Former President Donald Trump has selected pro-crypto Ohio Senator J.D. Vance as his vice presidential candidate.
Community Spotlight 🔦
Meet Gabby Dizon: He co-founded Yield Guild Games (YGG), a web3 gaming guild focused on blockchain-based economies and slowly transitioning into a web3 gaming protocol.
- He is a game industry veteran with over 20 years of experience.
- He recently discussed the importance of digital literacy during the final leg of the YGG Roadtrip in Manila.
Read more articles about him here.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- Bima Labs, a developer of the Bitcoin-backed stablecoin USBD, raised $2.25 million in a seed funding round; the funds will support Bima’s plans to launch USBD’s mainnet and governance token.
- Fracton Ventures announced DAO TOKYO 2024, an event scheduled for August 21-22, 2024, at Tokyo’s Kanda Myojin Shrine, aimed at advancing Japan’s leadership in web3 technology and DAOs.
- Solana Superteam and DroppGroup formed a strategic partnership aimed at advancing Web3 adoption and digital technology in Saudi Arabia.
- Zeebu, a web3 payment platform, plans to launch the ZBU Protocol to revolutionize B2B payments with substantial rewards and decentralized finance innovations.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- Delabs Games, based in South Korea, launched a new Telegram clicker game called Giga Chad Bat.
- Metarush, a party racing royale akin to Fall Guys, has been listed on Web3 native game store HyperPlay ahead of its public beta launch on both the MetaMask-integrated platform and the Epic Games Store.
- Eragon launched its V1 platform, aiming to revolutionize web3 mobile gaming with features like a comprehensive SDK, gaming layers integrating traditional and blockchain gaming, and AI-powered anti-cheating measures.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!
Our Davao meetup is happening this July 25th, see you there!
- Regional Blockchain Conference 2024 – July 19, 2024
- Solana Blinks Buidlstation – July 20, 2024
- BitPinas Davao meetup: July 25, 2024
- BitBulaga “Portfolio Construction in a Bull or Bear Market”: July 27, 2024
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Philip Gradwell, former chief economist at Chainalysis, has been appointed as the head of economics at Tether, where he will focus on quantifying the Tether economy to regulators.
- BlackRock‘s assets under management surpassed $10 trillion in the second quarter, rising nearly 13% from the previous year to $10.6 trillion.
- Huione Pay, a Cambodian payments company connected to the country’s ruling family, inadvertently received over $150,000 worth of cryptocurrency from a wallet associated with North Korean hackers Lazarus between June last year and February this year.
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This article is published on BitPinas: Spot ETH ETF to Launch on July 23 — Report | Key Points | July 17, 2024
