July 18, 2024

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Crypto NFT Today: The Latest News in Blockchain, Cryptocurrency, & NFTs- June Week 4

Welcome to another edition of Crypto NFT Today! The past two weeks have been full of must-know events that’ll be defining points for the future of blockchain, cryptocurrency, and NFTs.

With US regulators possibly approving Spot Ether ETFs, VanEck filing for Solana ETF, and more, there’s lots of essential news you should know about. So, let’s dive in and see what’s happening! 

US Regulators Possibly Approving Spot Ether ETFs

The U.S. Securities and Exchange Commission could approve exchange-traded funds (ETFs) tied to the spot price of ether as early as July 4, according to industry executives and other participants speaking to Reuters.

Eight asset managers, including BlackRock, VanEck, Franklin Templeton, and Grayscale Investments, are seeking SEC approval for these funds

VanEck Files for Solana ETF

Asset manager VanEck has filed to sell shares in a Solana exchange-traded fund (ETF), marking the first such registration in the U.S., just six days after 3iQ filed for a similar product in Canada.

The S-1 registration form submitted to the Securities and Exchange Commission (SEC) helped boost the SOL token’s 24-hour gain to nearly 8%. Meanwhile, the CoinDesk 20 Index, which measures the broader crypto market, has increased by 1.8%.

CleanSpark to Buy Peer GRIID

Deal-making in the bitcoin mining sector continues to intensify, with CleanSpark agreeing to acquire GRIID Infrastructure in an all-stock transaction valued at $155 million.

As part of the deal, CleanSpark will assume all debt and obligations of GRIID and provide a $5 million bridge loan to pay down approximately $50.9 million, according to a statement released on Thursday.

Analysts Suggest BTC Falling In 2024

Bitcoin has formed a double-top price pattern, indicating a potential bearish trend change ahead of key data releases that could impact the Federal Reserve’s interest rate decisions.

Bitcoin’s price movement has been volatile this month. After soaring to nearly $70,000, close to its all-time high from March, it has now dropped to $63,000. This decline contrasts with Nasdaq’s continued rise and is largely due to accelerated selling by miners, profit-taking by investors near lifetime highs, and outflows from U.S.-listed spot exchange-traded funds.

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