SEC Approves Grayscale and Proshares Spot Ethereum ETFs for Trading on NYSE Arca
The U.S. Securities and Exchange Commission (SEC) has approved the Grayscale Ethereum Mini Trust and ProShares Ethereum ETFs for listing on the New York Stock Exchange’s Arca electronic trading platform, according to a filing filed July 17. Approval of the application, called Form 19b-4, gives the NYSE authority to facilitate the trading of funds. With this; Issuers must await final comments on the ETFs’ respective S-1 filings before actual listing of spot products begins.
Spot Ethereum ETF Issuers Set Sponsor Fees
Spot Ethereum ETF applicants have determined their sponsor fees by filing final S-1 filings before the start of trading next week. While BlackRock set the sponsor fee at 0.25%, it announced that the fee will be 0.12% for the first year or until it reaches an asset size of $ 2.5 billion. Fidelity, like BlackRock, set the sponsor fee at 0.25%, but announced that it will not charge any fee until December 31, 2024. 21Shares and Bitwise determined their sponsor fees as 0.21% and 0.2%, respectively.
New Artificial Intelligence Fund Project from Grayscale
Grayscale announced that it has launched a new fund for decentralized artificial intelligence. Grayscale Decentralized Artificial Intelligence Fund LLC aims to support AI-related investment efforts in the cryptocurrency industry. Fund; It will finance three main areas: artificial intelligence services, addressing problems related to the use of centralized artificial intelligence, and developing artificial intelligence-related infrastructure. In addition, the fund includes major artificial intelligence cryptocurrencies, including LPT, NEAR, FIL and RNDR.
Some Decline in Crypto Transaction Volume
The transaction volume of cryptocurrencies recorded a significant decrease in June, continuing the downward trend that started in March. According to the CCData report, the total volume of spot and derivative transactions fell by 21.8% to $4.2 trillion, well below the peak of $9 trillion in March. This decline in trading activity was accompanied by a 9.7% decline in open interest on crypto derivatives exchanges. The reason for the decrease in open interest in derivative transactions is thought to be some liquidations that took place in June.
Moody’s Joined Project Guardian
Credit rating agency Moody’s has recently become involved in Project Guardian, a tokenization project based in Singapore and involving the world’s largest financial companies. It was stated that the company will provide risk analysis to the project. It was also announced that the company will be involved in the analysis of fixed income products such as stablecoins, tokenized deposits, funds and other digital asset securities.
Stablecoin Issuance Plan from the Financial Giant
US-based financial giant State Street announced that they plan to develop a stablecoin and integrate a blockchain into their systems. He explained that, apart from these projects, the company is also considering providing services to investors who want to use blockchain for deposit transactions by creating a token for deposit transactions. This move by State Street is considered a pioneering work that will show how far blockchain adoption has progressed in corporates, while also enabling its competitors to provide services in this regard.
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BITCOIN (BTC)
As of the morning hours, BTC is priced at $64,710 with a 0.95% gain in value. When we examine the daily chart, we see that the upward movement continues, but it cannot be maintained above the 65 thousand dollar level. If this region is crossed, the 67 thousand dollar region appears as an important resistance level. If the movement continues, the 70 thousand dollar region may be tested. In case of withdrawals, the 64 thousand and 62 thousand dollar regions can be followed as important support levels.
ETHEREUM (ETH)
ETH is priced at $3420 with a 1.03% gain in value as of the morning hours. When we examined the daily chart, we saw that the $ 3500 level, which we follow as the resistance zone, was tested and faced some selling pressure from this area. We see that the $3400 and $3350 levels are important support areas if the downward movements continue. Additionally, in case of persistence above the resistance zone of $ 3500, the $ 3650 level can be followed.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5824 with a loss of 6.92% in value. When we examined the daily chart, we saw that there was a strong downward selling pressure at the $ 0.64 level, which we followed as a resistance zone after the strong movement in the past few days. If this movement continues, the $0.56 – $0.58 region can be followed as support. In upward movements, the $0.60 region can be followed as resistance.
AVALANCHE (AVAX)
AVAX is priced at $27.58 with a 1.25% gain in value as of the morning hours. When we examine the four-hour chart, we see that the $28 level has been broken downwards. If this movement continues, the $27 level appears as an important support zone. In upward movements, if there is persistence above the 28 dollar level, the 30 dollar level can be targeted.
SOLANA (SOL)
SOL is priced at $158.90 with a 2.19% gain in value as of morning hours. When we examine the daily chart, we see that the $155 area, which we follow as the resistance zone, has been broken upwards. If this movement continues, the $165 level can be followed. In case of withdrawals, the $155 and $150 levels appear as support.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $ 13,807 with a 0.50% gain in value. When we examine the four-hour chart, we see that the falling trend zone and the $14,500 area are important resistance zones. If it persists above this region, the $15 level can be tested. In case of withdrawals, the $ 13,500 region can be followed as support.
SAND
SAND is priced at $0.3420 with a 2.55% gain in value as of the morning hours. When we examine the hourly chart, we see that it looks like an ascending triangle formation. The resistance zone of this formation appears as $ 0.3450. If this zone breaks upwards, the $0.3550 level could be tested. In case of withdrawals, the $0.34 level can be followed as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2466 dollars with a 0.29% gain in value. When we examine the daily chart, we see that the horizontal movement has broken upward. If this movement continues, the $2500 region can be targeted. In case of withdrawals, the $2430 region can be followed as support.
OUNCE OF SILVER
As of the morning hours, silver is priced at $ 30.40 with a 0.32% gain in value. When we examine the four-hour chart, we see that there is a pricing below the $ 30.50 level, which we follow as the support zone. If this movement continues, a downward movement towards the $ 30 region may be possible. In upward movements, it is important to maintain permanence above the $ 30.80 level.
