Happy Wednesday!
Today’s daily reports say a U.S. spot Ethereum ETF has seen net inflows of more than $100 million on its first day, Bitstamp is set to start distributing Mt. Gox funds to bondholders on Thursday, and privacy technology company Proton is set to launch a Bitcoin wallet.
Let’s begin.
US Spot Ethereum ETF Sees Over $100 Million in Inflows on First Day
Nine new US spot Ethereum ETFs recorded net inflows of $106.6 million on their first trading day on July 23.
- Total trading volume for Ethereum ETFs surpassed $1.05 billion on Tuesday.
- Grayscale’s ETHE was the only ETF to see net outflows, with $484.1 million immediately flowing out of high-fee funds.
- Blackrock’s ETHA saw the most net inflows with $266.5 million, followed by Bitwise’s ETHW with $204 million, Fidelity’s FETH with $71.3 million, and Grayscale’s ETH Mini Trust with $15.1 million.
- Meanwhile, U.S. spot bitcoin ETFs ended their 12-day rally on Tuesday with net outflows totaling $78 million.
Bitstamp Begins Distributing Bitcoin to Mt. Gox Creditors
- The cryptocurrency exchange confirmed on Wednesday that it had received Bitcoin, Bitcoin Cash, and Ether funds from the Mt. Gox Trustee.
- According to blockchain analytics platform Arkham, approximately 10,216 BTC ($676 million) was transferred to Bitstamp this week from addresses linked to Mt. Gox.
- Kraken began making payments to creditors this week, following previous distributions from Bitbank and SBI VC Trade.
- About 20,000 former Mt. Gox users will receive a total of more than $9 billion in restitution as part of the settlement process.
The company behind Proton Mail unveils its own custodial Bitcoin wallet
- This wallet allows users to buy, store, and transfer Bitcoin. It integrates features such as Bitcoin transfer via email and enhanced security leveraging Proton’s existing infrastructure.
- Aiming to simplify users’ Bitcoin usage experience, Proton Wallet is available to early access users on web, Android, and iOS ahead of its wider launch.
- Proton has long supported Bitcoin, accepting it as payment and donations, and has previously confirmed that it holds Bitcoin as part of its financial reserves.
Peter Thiel’s Founders Fund Leads $15M Series A for Ethereum Rollup Platform Caldera
- Caldera’s total funding currently stands at $25 million, and the platform already raised $10 million last year.
- The platform will help developers quickly roll out Ethereum rollups on technology stacks such as Optimism’s OP Stack, ZKsync’s ZK Stack, Arbitrum Nitro, and Polygon CDK. A “Metalayer” is also in development, which aims to unify decentralized Layer 2 and Layer 3 ecosystems.
- Caldera claims to have worked on over 50 projects, locked a total value of $800 million, and completed over 59 million transactions across 1.7 million unique wallets.
Ferrari Expands Automotive Crypto Payments to Europe
- The luxury sports car giant’s European dealer network will begin accepting cryptocurrency payments for Ferrari vehicles from the end of July.
- Ferrari has partnered with BitPay as a cryptocurrency payment processor for its US launch, accepting payments in Bitcoin, Ether, and the USDC stablecoin. However, it is unclear which cryptocurrency payment processor the Italian company will use in Europe.
within the next 24 hours
U.S. GDP and unemployment claims data are due out Thursday at 8:30 a.m.
ECB President Christine Lagarde is scheduled to speak at 11 a.m.
Bitcoin 2024 kicks off in Nashville.
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