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Bitcoin ETFs Added To Michigan State Pension Fund With $6.6 Million Allocation

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The approval of Bitcoin ETFs by the US Securities and Exchange Commission (SEC) in January 2023 has opened the floodgates for significant institutional investment in the newly approved market.  However, US states are also rushing to capitalize on the success of these ETFs by allocating a portion of their pension funds to reap profits and diversify their investments. Wisconsin, Jersey City, Michigan Allocate Millions To Bitcoin ETFs The first state to take the plunge was Wisconsin, which in May 2023 allocated approximately $98.6 million, or 2% of its pension fund, to BlackRock’s iShares Bitcoin Trust ETF. Now, two more states have joined Wisconsin in allocating state pension funds to Bitcoin ETFs. On Thursday, NewsBTC reported that the mayor of Jersey City, Steven Fulop, announced that it is updating its paperwork with the SEC to allow its pension fund to invest in Bitcoin ETFs. 
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WuBlockchain Weekly: Ethereum Spot ETF Sees Net Outflow of $179 Million in Three Days, Mt. Gox Assets Continue to Be Returned, etc

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1. In Three Days, Nine Ethereum Spot ETFs Experience Combined Outflow of $179 Million link The Ethereum spot ETFs launched this Tuesday, with the nine ETFs collectively seeing an inflow of $107 million and a total trading volume exceeding $1.1 billion on their first day. BlackRock’s ETHA led with an inflow of $266.5 million, followed by Bitwise’s ETHW with $204 million, and Fidelity’s FETH with $71.3 million. In contrast, Grayscale’s ETHE experienced an outflow of $484 million. Despite the strong debut, Ethereum spot ETFs have continued to face outflows since Wednesday. On Wednesday alone, there was a net outflow of $133 million, and on Thursday, a net outflow of $152 million. As of the latest update, the total net asset value of Ethereum spot ETFs is $8.969 billion, with an ETF net asset ratio (market cap relative to Ethereum’s total market cap) of 2.36%, and a cumulative net outflow of $179 million. Major market maker Wintermute anticipates that Ethereum ETFs could attract up to $4 b
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To the Moon with MOONHOP! Nearing $1M in Presale, Attracting Dogecoin and PEPE Community

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The rally of Dogecoin (DOGE) persists as it maintains its recent upward trajectory, demonstrating strong market confidence without overpromising results. Meanwhile, Pepe coin's price gently rises, captivating attention with its playful market movements. Meme coin aficionados are closely monitoring the  MOONHOP presale, almost reaching $1 million, generating considerable excitement. With anticipated price increases at each presale phase, MOONHOP is shaping up to be the charming protagonist of this cryptocurrency narrative, forecasting thrilling developments for its followers. Dogecoin's Market Progress: A Consistent Advance Having secured a stable base above $0.1050, Dogecoin (DOGE) witnessed a significant rise. The ascent continued as it surpassed the $0.120 level and the 100-hourly simple moving average, reinforcing its positive stance in this rally. Dogecoin's momentum peaked at $0.1264 and is now consolidating its gains. It remains above the $0.1220 mark, sustai
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Ripple or Solana: 21Shares CEO Answers Which ETF is Next

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In a recent interview discussing the emergence of Ripple and Solana , 21Shares CEO Hany Rashwan discussed which crypto could be next in line for an ETF. Rashwan was featured on the Paul Barron network, where he talked about the potential of both assets, and their importance to crypto moving forward. Spot Ethereum ETFs debuted this week, after months of anticipation. With Bitcoin becoming the first crypto-based exchange-traded product in January, the two assets show a promising future for institutional investment in the space. Now, all eyes are on which could be next. Also Read: Spot Ethereum ETF Trading Volume Surpasses $1B, Still Undervalued? 21Shares CEO Talks ETF Potential for Ripple and Solana Thus far, 2024 has been a massive year for crypto. The mainstream adoption of the asset class has been undeniable, with Bitcoin and Ethereum setting a new standard. Now, the crypto market is looking at what assets could join them atop the entire industry. One prominent executive discussed th
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Ethereum Plunges 7% As Spot ETH ETF Outflows Hit $113M, Led By $800M Loss For Grayscale (ETHE)

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The Ethereum price plunged more than 7% in the last 24 hours after spot ETH ETF (exchange-traded fund) outflows hit $113.3 million led by an $810 million hit for Grayscale’s Ethereum Trust (ETHE). The outflows posted by Grayscale’s ETHE overshadowed the net inflows registered by the other seven funds. Leading the pack were the Fidelity Ethereum Fund (FETH)  with $75.4 million in inflows and the Bitwise Ethereum ETF (BITW) with $29.6 million. BlackRock’s ETH ETF Sees $17.4 Million In Inflows BlackRock’s iShares Ethereum Trust (ETHA) saw $17.4 million enter its coffers on July 24 after the fund had posted the highest inflows of the new spot Ethereum ETFs during their debut on July 23. Despite ETHA’s lackluster performance, it was still able to outperform Grayscale’s ETHE.  Launched in 2017, ETHE allowed investors to purchase the largest altcoin by market cap. However, there was a six-month lock-up period imposed on all investments. Following its recent conversion to an ETF, inves
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Forget $10,000, Crypto Analyst Says Spot Ethereum ETFs Will Drive ETH To $14,000

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The long-awaited Ethereum ETFs have finally hit the market, marking a significant milestone for Ethereum and other altcoins. Industry experts and enthusiasts are looking at how the effects could play out on Ethereum’s price action in the coming months.  Renowned crypto analyst Doctor Profit has made a bold prediction. According to him, Ethereum’s value is set to break through the $10,000 barrier, with the potential to reach a peak of $14,000. The catalyst for this anticipated surge is none other than the Ethereum ETFs, which are expected to act as a major catalyst for the cryptocurrency’s upward momentum. Doctor Profit’s Ethereum outlook was highlighted on the social media platform X, where he shared his insights in a post titled “The Big $ETH ETF Report.” Notably, the report echoes a general consensus amongst market participants, which is a parabolic ETH price move this year. 
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Trump cryptocurrencies set to surge as markets predict November victory

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Though the period arguably started much earlier, the U.S. election cycle has been nothing if not chaotic ever since the shocking debate between President Biden and former President Trump. Along with the ultimately successful pressure on Joe Biden to drop out of the race, the most dramatic event so far has been the July 13 assassination attempt against Donald Trump. Along with the wounding of the Republican candidate and killing of one rally attendee, the incident sparked wild speculation and led to an expectation of a red wall in November – much like the results of the 1984 election following the 1982 attempt on Reagan’s life – and, indeed, led to the creation of multiple event-inspired cryptocurrencies . Picks for you How VP Kamala Harris invests her money 57 mins ago
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