Syz the moment

$ETHA

The gap between $ETHE and The Newborn Eight is a healthy +$625m (a sizable chunk of which *should* convert to inflow Source: Eric Balchunas

The United States Securities and Exchange Commission (SEC) has given final approvals to spot Ethereum ETFs, clearing the way for the funds to begin trading as soon as Tuesday, July 23. Such funds received initial approval in May in a surprise regulatory shift by the SEC, and have spent recent weeks sending in updated and finalized forms. Now, 424(b) approvals are coming in and spot Ethereum ETFs have been made effective by the SEC, which means they can begin trading. July 23 emerged as the likely target for the trading start early last week, as sources connected to fund providers told Decrypt that they were told to expect approvals ahead of that date, barring unexpected delays. "It’s official: Spot ETH ETFs have been made effective by the SEC," tweeted Bloomberg Senior ETF Analyst Eric Balchunas on Monday afternoon. "The 424(b) forms are rolling in now, the last step = all systems go for tomorrow’s 930am launch. Game on." Source: Decrypt

Source: Radar

ICBC: “Ethereum has been continuously upgrading its technology in terms of security, scalability and sustainability, providing technical power for the digital future. In addition, the introduction and development of stablecoins provide a bridge for the digital currency market to connect to the real world.” ICBC described Ethereum as the “digital oil.” Being Turing-complete and having its own programming language, Solidity, allows developers to deploy complex smart contracts and dApps. This has made Ethereum the mainstay in inventive new fields such as NFTs and DeFi “and is gradually extending to the physical infrastructure network.” Source: Crypto News Flash thru Mario Nawfal

But ETF issuers must have their S-1 registration statements go effective before trading can begin. It's unclear how long this process will take but some analysts are speculating that it could take weeks. In a stunning reversal, the U.S. Securities and Exchange Commission (SEC) announced on Thursday that it has approved eight applications for spot Ethereum ETFs, effectively green-lighting Ethereum trading on Wall Street. The following funds were approved in the filing: the converted Grayscale Ethereum Trust, the Bitwise Ethereum ETF, iShares Ethereum Trust, VanEck Ethereum Trust, ARK/21 Shares Ethereum ETF, Invesco Galaxy Ethereum ETF, Fidelity Ethereum Fund, and Franklin Ethereum ETF. When will the spot Ethereum ETFs begin trading? It won't be tomorrow. Bloomberg ETF expert James Seyffart suggested in a tweet that it could be a "couple weeks" before the fund managers' S-1 documents are approved to enable trading. Source: Decrypt

Source: Radar🚨

ETH price is up 11% today while open interest increases by almost $1B in an hour.