Bitcoin ETFs see US$250m inflows following Fed rate cut hints, while Hong Kong Bitcoin ETFs surpass US$256m AUM. ETH ETFs face mixed results with Grayscale outflows, despite strong inflows.
Spot Bitcoin ETFs record positive flows in 8 of the last 10 days. Meanwhile, Mt. Gox executes a $700 million Bitcoin transaction, the first major move in three weeks. Bitcoin mining costs surge by 168% amid capacity expansion.
Bitcoin surges as US$2 billion in Mt. Gox funds moved and Bitcoin ETFs set to surpassing Satoshi's holdings. Ethereum ETFs see positive flows, and Ethereum L2 hits a record 12.4m daily transactions.
Institutions are 'buying the dip' as the crypto market stabilises following a slump. The world’s largest Bitcoin miner expanded its BTC holdings by US$124m in July 2024. Meanwhile, US Bitcoin and Ethereum ETFs reached US$6b in volume during the market rout.
U.S. strategic Bitcoin Reserve to be partly funded by revaluing Fed's gold according to draft bill. 41.5% of Mt. Gox Bitcoin distributed, creditors continue to HODL. Ethereum ETF launch boosts US$2.2b inflows.
ETH ETFs have been approved by the US SEC, with trading volume hitting US$1.08 billion. BlackRock's Bitcoin ETF inflows surpassed those of the 'Mag 7' stocks, as total US Bitcoin spot ETFs reached a record US$17 billion in net inflows.