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Q2 2024 Crypto Recap - ETF Developments, Memecoin Craze, and Network Metrics 📊 Stay updated with the Amberdata Quarterly Report for Q2 2024, covering key takeaways, market trends, token prices, network metrics, and ETF insights. This quarter's report introduces a Networks Overview section, comparing Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. Additionally, a new section on Ethereum's liquid staking and restaking in AmberLens, focusing on EigenLayer, has been added. Key takeaways from Q2 2024 include: ✔️ Global regulatory progress brought clarity to digital assets, with Bitcoin ETFs trading in several countries and the MiCA regulation live in Europe. ✔️ The anticipation of spot Ethereum ETFs, expected in Q3, has divided analysts on market impact. ✔️ Memecoins initially drove Q2 volumes but overall market activity declined. ✔️ New Layer 2 and Layer 3 blockchains launched, but users showed fatigue with incentive schemes. Overall, token prices and market capitalizations mostly declined, with significant sell-offs from Mt. Gox and German asset seizures. Ethereum saw continued growth in liquid staking and restaking, despite challenges ahead. https://hubs.la/Q02H5-R70

As the crypto community awaits the SEC's decisions on Ether ETF applications, the potential for Ether ETFs underscores the maturing of the cryptocurrency market and its increasing integration with conventional financial frameworks. This milestone could pave the way for further recognition and adoption of digital assets across the global financial ecosystem. #Ethereum #ETF #Crypto #Regulatory

As we approach the launch of Ethereum ETFs on July 23rd, the investment landscape is poised for significant change. Here's what you need to know: 📍 Fee Structures: Most providers are waiving fees initially to attract assets. Grayscale, however, is taking a unique approach with its existing trust and a new, more competitive product. 📍 Market Estimates: Projections from major banks suggest average monthly inflows of around $1 billion. Standard Chartered Bank is particularly bullish with a $2 billion/month estimate, while JP Morgan is more conservative at $500 million/month. 📍 Global Trends: Data from Hong Kong and European markets provide valuable insights: - Hong Kong ETPs show a slight overweight towards Bitcoin compared to Ethereum (85:15 AUM ratio vs 75:25 market cap ratio). - European ETPs generally mirror the market cap ratios of major cryptocurrencies. - These trends could indicate potential allocation patterns for U.S. Ethereum ETFs. 📍 Existing Product Dynamics: Unlike its Bitcoin counterpart, the Ethereum trust has been trading close to par value for months, potentially reducing selling pressure at launch. 📍 Comparative Analysis: The ratio of Bitcoin to Ethereum in global ETPs tends to align with their relative market capitalizations, suggesting a possible benchmark for U.S. ETF allocations. These factors combined suggest a potentially smoother launch for Ethereum ETFs compared to their Bitcoin predecessors. (image source: ASXN.xyz)

Ether ETFs: A New Dawn for Ethereum Investors in 2024? 🚀🌐 2024 stands on the cusp of potentially groundbreaking developments for Ethereum and its investors, with the spotlight firmly on the anticipated approval of Ether (ETH) Exchange-Traded Funds (ETFs). The narrative around Ethereum remains robust, bolstered by its pivotal role in the DeFi and NFT arenas, suggesting a strong case for Ether's inclusion in diversified crypto portfolios despite its previous underperformance compared to Bitcoin. The pathway for spot Ether ETFs appears increasingly promising following the approval of multiple spot Bitcoin ETFs. Analysts posit a 70% likelihood of Ether ETF approvals by May 2024, buoyed by the Securities and Exchange Commission's (SEC) prior nod to Ethereum futures ETFs, indirectly endorsing Ether as a commodity. This tacit acknowledgment aligns with the Commodity Futures Trading Commission's (CFTC) stance and lays a favorable groundwork for Ether's ETF candidacy. However, the journey to approval is marked by regulatory prudence, with the SEC extending its decision timeline for several Ether ETF proposals to May 2024. These delays are interpreted as routine procedural steps rather than indicative of underlying concerns, providing an extended period for public commentary and ensuring that any forthcoming Ether ETFs meet comprehensive regulatory criteria. The eventual approval of Ether ETFs would signify a monumental stride towards the integration of cryptocurrencies within conventional financial frameworks. It promises to elevate Ethereum's status within the financial domain, further cementing cryptocurrencies' legitimacy and value in the global economic landscape. As decision deadlines approach for applications from leading firms, the crypto community watches with bated breath. The potential green light for Ether ETFs by the SEC would not only herald a significant victory for Ethereum but also underscore the maturing relationship between digital assets and traditional financial systems. #Ethereum #EtherETF #CryptoInvesting #SEC #BlockchainTechnology #DigitalFinance

Martin Young features Sygnum Bank's Head of Research, Katalin Tischhauser, on the future of Ethereum spot ETFs on Cointelegraph.   Katalin Tischhauser predicts that Ethereum ETFs could hit $5-10 billion in assets under management within their first year. With the potential for significant inflows, the price of ETH might see a strong boost.  “With Ethereum’s market capitalization a third of Bitcoin’s, we expect the relative inflows to be in the 15-35% range versus Bitcoin, with a resulting forecast of $5 to $10 billion in the first year.”   Read more on: https://lnkd.in/e-nVDm7G #Ethereum #ETFs #Investment

ETH and BTC valuation metrics are NOT the same Today I thought it was pertinent to bring this up. Since we might get an ETH spot ETF approved this week, I have to address the differences. When the BTC ETFs were approved, we talked about the value of BTC, and the way it affects the ETF price. Remember, bitcoin has a lifetime supply of 21 million. Set in code And we know the issuance policy - 450 per day (as of today) So, much of the valuation is around the limited supply Which is juxtaposed with inflation, and with increased demand from the ETFs, developing world use cases, etc. ETH is a different animal First, ETH is used as a utility You have to pay in ETH to make transactions on the Ethereum network go So if you think there will be an increased demand for transactions on the network: - Tokenized funds - Stablecoins - Developing nations - Decentralized social media Demand for ETH should increase as well The issuance policy is different as well There is new ETH issued with every block - about every 12-13 seconds. This goes to pay the validators who are processing the transactions and securing the network However, with each block there is some ETH burned The amount burned is a function of the number and complexity of transactions. More transactions --> more burn So, every 12-13 seconds we could have more ETH, or less ETH, than we had before. There really isn't a way to know in any given day. ETH isn't as much a store-of-value asset like bitcoin. It's more of an investment in the future of the technology. Much like an early investment in Amazon or Apple I laid out some investment theses for each, linked in the comments. I also highly recommend following Michael Nadeau and his Ethereum Investment Framework, to see some traditional valuation theses for ETH. ETH currently has about 1/3 the market cap of BTC, so if it gets 1/2 the investment that the BTC ETFs got, the price should increase even more. But we don't really know what will happen. About the only thing BTC and ETH have in common is they have a similar technology securing and progressing the network And they're commonly grouped together as "crypto" When looking into investing in the ETFs (if the ETH ETFs get approved), it would be good to understand what can drive the price of the underlying assets So you know where it fits in a portfolio

Glassnode: $70.5 billion could flow into Bitcoin ETFs after approvals. Analysts anticipate potential inflows into a Bitcoin ETF from two key sources: stock and bond markets ($60.6 billion) and the gold market ($9.9 billion), totaling around $70.5 billion in potential new capital influx. This capital infusion could significantly impact Bitcoin's market, driving up its price and expanding acceptance in traditional portfolios. While $70 billion may seem too optimistic for many, it's crucial to note that the total ETF products market in the US is valued at around $7 trillion. https://lnkd.in/d7t5spmJ

Ether ETF Launch Day! Read more in this weeks STON! 📈 Nine Ether spot ETFs are set to debut on July 23rd, with fees ranging from 0.15% for Grayscale’s Ethereum Mini Trust to 2.5% for Grayscale’s ETHE. 📈 Ethereum's market cap stands at $420 billion, about one-third of Bitcoin's $1.3 trillion market cap, with daily spot trading volumes for ETH at approximately half of BTC’s volumes across Coin Metrics’ Trusted Exchanges. 📈 33.2 million ETH (28% of supply) is staked on the Ethereum consensus layer, with 13.5 million ETH (11% of supply) locked in smart contracts and 12.5 million ETH (10% of supply) currently on exchanges. The ETFs could further stimulate prices by locking-up funds in an already well-utilized asset. =

Ethereum ETFs are out. So what's next? Eric Johansson checked in with five market watchers to answer that burning question. Nine spot Ethereum ETFs launched on Tuesday to industry-wide celebration. Before their launch, pundits, degens and analysts rolled out the red carpet for the funds, predicting that they’d replicate the success of the 10 spot Bitcoin ETFs that launched in January. If Bitcoin funds could pump the underlying asset to new heights, why wouldn’t the same be true with Ether? Four days later, it seems the first week of spot Ethereum ETF trading has been a mixed bag. While Ethereum ETFs bagged $107 million in total inflows on the first day of trading, Wednesday and Thursday respectively saw $133 million and $153 million in outflows, according to data from SosoValue. And Ether is down 4.6% on the week, according to CoinGecko data. However, things may be about to change. https://lnkd.in/euHXajpQ