Conservatives vowed to bring sound money policy to Washington in 2025, but the battle for your financial freedom is closer to home than you would expect. States pioneered this effort, and should capitalize on this national momentum to defend American financial liberties locally.

This month, the Republican National Committee released a draft proposal for changes to the party platform that would assert the party’s stance against a central bank digital currency — also known as a CBDC or digital dollar — and in support of the right to mine, own, and privately transact in digital assets like Bitcoin.

Sound monetary policy has been a growing focus of the 2024 election as Republican…

Read more on BitcoinMagazine

Grayscale is set to enhance its cryptocurrency offerings, moving a significant $1 billion of Ethereum to Coinbase Prime in preparation for its new Ethereum ETF, slated to start trading this week. This strategic shift involves converting 10% of its Ethereum Trust holdings into the new ETF format, aiming to streamline investment processes and reduce fees for investors. This move is seen as a way to keep investments within the firm while offering lower-cost alternatives to its clientele.

Market analysts had speculated about potential sell-offs, but these were quickly dismissed by industry experts. Jon Campagna, from Nexyst Digital, emphasized that Grayscale is unlikely to divert from Ethereum to other cryptos like Solana, viewing the current strategy as a commitment to Ethereum.

Despite some concerns from trading firms about subdued demand, the anticipation remains high for the Ethereum ETF’s debut. Grayscale’s decision not to reduce its management fees—remaining at 2.5% compared to lower fees of new competitors—positions it uniquely in the burgeoning ETF market. The financial community watches closely, expecting this launch to influence broader adoption and valuation of Ethereum-based investment products.

The U.S. SEC issued the S-1 application effectiveness notice for the following ETFs and trusts:

• Grayscale Spot Ethereum Mini ETF
• INVESCO & GALAXY Spot Ethereum ETF
• Fidelity Spot Ethereum ETF
• 21SHARES Spot Ethereum ETF
• FRANKLIN Spot Ethereum ETF
• BlackRock Spot Ethereum ETF
• Grayscale Ethereum Trust
• Bitwise Ethereum ETF
• VanEck Ethereum ETF

SEC OFFICIAL NOTICE LINK

BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust (IBIT), saw a massive inflow of $526 million on Monday. This marked the largest single day of inflows for the ETF since March.

JUST IN: BlackRock spot #Bitcoin ETF had $523 million inflows today.

— Bitcoin Magazine (@BitcoinMagazine) July 22, 2024

On July 22nd, IBIT attracted nearly $527 million in net inflows, bringing BlackRock’s Bitcoin fund’s total assets under management to over $22 billion.

Monday’s gain was the seventh-largest daily inflow on record for IBIT in dollar terms. Its previous record was set on March 18th, when the fund saw $849 million worth of Bitcoin inflows.

Across all spot Bitcoin ETFs in…

Read more on BitcoinMagazine

BlackRock’s iShares Bitcoin Trust (IBIT) attracted significant net inflows of $526.7 million on July 22, signaling growing investor enthusiasm for spot Bitcoin funds. Collectively, ten spot Bitcoin ETFs, excluding Bitwise’s BITB, achieved their twelfth consecutive day of gains, amassing nearly $534 million in inflows.

Following IBIT, the Fidelity Wise Origin Bitcoin Fund (FBTC) received $23.7 million in inflows, while the Invesco Galaxy Bitcoin ETF (BTCO) attracted $13.7 million. The Franklin Bitcoin ETF (EZBC) reported $7.9 million in inflows, whereas spot Bitcoin ETFs from ARK 21Shares, Valkyrie, Grayscale, Hashdex, and WisdomTree saw no new flows. In contrast, the VanEck Bitcoin ETF (HODL) experienced outflows of $38.4 million, marking it as the only fund to report losses on Monday.

With these gains, IBIT’s market cap has now surpassed $22 billion. IBIT has outperformed the Nasdaq ETF in inflows this year, ranking fourth among over 3,000 US ETFs. Over the past two weeks, US spot Bitcoin ETFs have collectively captured over $2 billion, with year-to-date net inflows reaching $17 billion. This robust performance underscores increasing investor confidence in Bitcoin ETFs as a mainstream financial asset.

Data

With Bitcoin 2024 fast approaching – July 25-27 in Nashville, TN – three enterprising fund managers are competing to win $1 million in seed capital in the Bitcoin Alpha Competition powered by Samara Alpha Management in partnership with Bitcoin Magazine Pro.In a recent podcast, Bitcoin Magazine sat down with the Bitcoin Alpha Competition judges to discuss the state of the Bitcoin market and how individual investors are leveraging their agility to front-run larger capital allocators as Bitcoin moves into the age of institutional adoption.Patrick Lowry, judge of the Bitcoin Alpha Competition and CEO of Samara Asset Group, believes that while Spot ETFs have been a resounding success,…

Read more on BitcoinMagazine