Ethereum
Ethereum Bullish Pennant Needs Confirmation
According to CoinShares, crypto funds saw inflows of just $185 million last week, down from $1.05 billion a week earlier. Bitcoin investments increased by $148 million, Ethereum investments by $34 million, and Solana investments by $6 million. Outflows from Grayscale’s Bitcoin ETF rose sharply to $260 million for the week. Inflows into Ethereum continued for a second week after the SEC approved a spot ETF with an expected launch date of July 2024.
Crypto News
According to Cryptoquant, investors withdrew 797,000 ETH worth $3 billion from exchanges to wallets following the approval of the Ethereum-ETF. Bitcoin shows a similar trend in the dynamics of coins available on the CEX.
BTC and ETH exchange balances are at their lowest in several years. The share of BTC [of total supply] fell to 11.6% and Ethereum’s share fell to 10.6%. Whales continue to accumulate as the supply of assets dwindles, BtcEcho noted.
Australian subsidiary CBOE will launch trading of a spot bitcoin ETF. This became possible after the issuer received AFS registration from the Securities and Investments Commission of Australia.
MicroStrategy and its founder, Michael Saylor, have reached a $40 million settlement with the U.S. Attorney’s Office for the District of Columbia (United States) in a tax evasion case.