Spot ETH ETF Volume Hits $1.1 Billion
The total volume accounts for approximately 23% of Bitcoin’s first-day ETF volume of $4.6 billion.
Spot ETH ETFs surpass $1b volume.
Erigon releases Erigon 3.
Ethereum Film releases its trailer.
EtherFi achieves 2m restaked ETH.
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Today, spot Ethereum ETFs from eight issuers—Franklin Templeton, VanEck, Bitwise, 21Shares, Fidelity, BlackRock, Grayscale, and Invesco—launched with successful interest, surpassing $1 billion in combined volume on their first day. Leading the pack was Grayscale’s ETHE ETF, which achieved $462 million in volume. BlackRock’s ETHA followed with $250 million in volume. The total volume accounts for approximately 23% of Bitcoin’s first-day ETF volume of $4.6 billion. In the first 90 minutes of trading, ETH ETFs amassed $336 million in volume. The price of ETH remained relatively stable over the last 24 hours, fluctuating between $3,400 and $3,500.
Erigon released Erigon 3, the latest version of its client, which functions as an all-in-one EVM-node, supporting both the execution layer and consensus layer. Erigon 3 is optimized for use as an archive node, full node, and pruned node. Key features include ultra-fast RPC calls and the ability to exceed 1Ggas/sec in block production. The Consensus module, Caplin, uses advanced storage and data compression techniques, enabling it to serve as a Full Archive Consensus node for Beacon Chain history and blobs. Erigon 3 uses an internally developed database named QSM db. Erigon 3 is currently in an alpha phase with a beta release planned before the Pectra hard fork.
Ethereum Film released the trailer for "Vitalik: An Ethereum Story," a community-funded feature documentary focusing on the creation of Ethereum, Vitalik Buterin's journey, and the global community of builders. The movie has been three years in the making, filmed across 28 cities and 15 countries. Users can mint the trailer as an NFT on Zora, with proceeds going towards production costs and supporting the Protocol Guild. The top 20 minters of the trailer NFT will gain access to the film’s in-person world premiere. The documentary will premiere on September 18th.
EtherFi, the largest liquid restaking protocol, reached a milestone of 2 million ETH in deposits, boosting its TVL to nearly $7 billion. EtherFi currently ranks as the fifth largest protocol on Ethereum by TVL. Earlier this month, EtherFi introduced staking for its native ETHFI token. EtherFi Cash, a credit card product that allows users to spend their EtherFi assets without needing to off-ramp, is set to launch in September.
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SEC Approves Trading For ETH ETFs
Trading for all 9 spot ETH ETFs will go live tomorrow. Bitwise also committed 10% of ETHW ETF profits to open-source projects.
The SEC approves trading for ETH ETFs.
Superstate launches a crypto carry fund.
Optimism announces Retro Funding Round 5.
10 years since the Ethereum ICO.
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The SEC has approved final filings for the trading of Spot Ethereum ETFs, allowing trading to begin in the U.S. According to Bloomberg analyst Eric Balchunas, trading will commence tomorrow at 9:30 am EST. All eight ETH ETF issuers have obtained S-1 approvals. Grayscale offers the lowest fee, set at 0.15% for its ETF. Bitwise also announced its commitment to donate 10% of profits from its ETHW ETF to the Protocol Guild and the Proposer Builder Separation (PBS) Foundation. The donation follows VanEck's pledge last year, with both issuers committing to make donations for at least the next decade. The price of ETH remains relatively unaffected amid the news, trading around $3,450.
Superstate, a tokenized fund for Real World Assets (RWA), introduced USCC, a tokenized crypto cash-and-carry trading fund for institutional investors. The strategy leverages price differences between spot and futures markets for Bitcoin and Ether, optimizing yield by staking spot Ethereum holdings. A cash-and-carry trade is a delta-neutral strategy that remains relatively unaffected by market volatility. Superstate takes a 0.75% management fee for the product. USCC is Superstate’s second offering, following its initial product, a U.S. tokenized treasury fund with over $80 million in TVL. Superstate was founded last year by Robert Leshner, the founder of Compound.
Optimism announced its fifth retroactive funding round, allocating 8 million OP tokens to projects that have contributed to the OP Stack. Contributions can include core Ethereum infrastructure, research and development, and tooling to enhance accessibility and usability. Applications for the round will open on August 15th. To qualify, contributions must have generated impact between October 2023 and August 2024 in areas such as smart contract languages, Ethereum clients, and cryptography research. Projects focused on app development and deployment are not eligible for this round. Badgeholders will vote on fund allocation in September, with grants being delivered in October.
Today marks the 10th anniversary of the Ethereum ICO. On July 22, 2014, the Ethereum began selling 60 million ether at an initial rate of 2,000 ETH per BTC, worth approximately 31 cents per token. The ICO raised over $18 million worth of BTC, notably without any VC investors. A year later, Ethereum's genesis block went live on the mainnet. If held today, investors who participated in the ICO would see a 100x return against Bitcoin.
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CBOE Confirms ETH ETF Listings
Five Spot ETH ETFs will begin trading on CBOE starting Tuesday, July 23rd.
CBOE confirms trading ETH ETFs.
EF is hiring for a Protocol Support role.
Avail announced its mainnet launch date.
Applications open for the Superhack.
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The Chicago Board Options Exchange (CBOE) confirmed that Spot ETH ETFs from Fidelity, Franklin Templeton, Invesco, VanEck, and 21Shares will begin trading on its exchange starting Tuesday, July 23rd. A Spot ETH ETF allows investors to gain exposure to Ethereum in the form of stock, rather than owning the asset directly. Except for Invesco, all four asset issuers will provide a fee waiver on the initial trading of their ETFs. Bitwise and Grayscale will trade on the NYSE, which has not yet announced the trading timeline. The Nasdaq, which will host BlackRock’s iShares Ethereum ETF, is also yet to confirm the trading start date, although it is anticipated that all will go live on Tuesday. The date marks two months since the SEC approved the Spot ETH ETF applications.
Avail, a data availability blockchain, announced its mainnet launch date, set for Tuesday, July 23rd. The deployment also introduces AVAIL, the platform's native token, which will be used to pay for services, staking, and governance. Users who claimed AVAIL in April will automatically receive the tokens in their wallets at the mainnet launch. Currently, AVAIL is trading at $0.25 on the Aevo pre-market. Avail aims to provide a scalable and secure solution for data storage by utilizing both validity proofs and data availability sampling (DAS). It also serves as a unifying coordination rollup with a proof aggregation layer and a mechanism for sequencer selection.
The Ethereum Foundation (EF) is hiring for a Protocol Support role to help manage Ethereum's stewardship, which includes network upgrades, attracting and retaining protocol contributors, and expanding the team’s capacity to start new initiatives. It involves working on AllCoreDevs, the Ethereum Protocol Fellowship, and the Summer of Protocols programs. Protocol Support works closely with EF members like Trent Van Epps, Tim Beiko, Josh Stark, and others both within and outside the EF. Tim Beiko says it is the first time the role has been opened in a few years. The position is fully remote but requires being online for a few hours daily at 14:00 UTC, referred to as “ETH O’Clock.”
Applications are now open for Superhack, a virtual ETHGlobal hackathon focused on the Superchain, which includes tracks for OP Mainnet, Base, World Chain, Celo, and Mode Network. The hackathon offers $125k in prizes across various categories and will run from July 26th to August 9th. Builders have until Wednesday, July 24th to apply.
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