"I should have bought it" is a news podcast with the editorial staff of ForkLog about the main industry events of the week and the "hottest" tokens.
Topics: launch of Ethereum-ETF, outflows of ether from Grayscale, asset allocation of Mt.Gox and Portuguese citizenship for bitcoins.
Special guests: Roman Zabuga— Marketing Director of Sibmain data center operator (Russia) and co-owner of BWCM UG (Germany), CEO of Indefibank Sergey Mendeleev.
Participants: ForkLog authors Lena Jess, Alex K. and Vasily Smirnov.
Ethereum-ETF Debut
On July 23, trading of spot Ethereum ETFs on regulated US exchanges began. Shortly after the opening of the trading session, the price was subjected to moderate pressure from the bears.
In the first 15 minutes, the turnover of the ETH-ETF reached 50% of the indicator of the first day of bitcoin funds ($112 million).
The day after the listing, new products for the American market ended with a trading volume of about $1.08 billion. The net inflow of funds into spot ETH-ETFs amounted to $106.7 million, and the total amount of assets under management exceeded $10 billion.
Sell on the news
In general, a confident and positive start for the market was replaced by powerful outflows of funds from ETHE from Grayscale — clients withdrew almost $500 million from the exchange-traded fund in the first day.
In the following days, the trend continued, negatively affecting the price of ether and market sentiment. Since launch, outflow from Grayscale has exceeded $1.1 billion.
Outflows from ETHE from Grayscale. Data: SoSoValue.However, despite the market correction and other negative trends, positive revenue dynamics has resumed in spot bitcoin ETFs.
Echo of Mt.Gox
Large centralized crypto exchanges have begun distributing digital assets from the bankrupt Mt.Gox platform to creditors.
On July 24, Kraken CEO Dave Ripley announced the first deposits and payments.
"Kraken has successfully distributed Bitcoin and Bitcoin Cash from the Mt.Gox property among creditors. It has been almost ten years since the Trustee chose our exchange to facilitate the investigation and refund of customer funds. It was our privilege and our duty," he said.Later, the Bitstamp exchange made a similar statement. The platform has started gradual payments to Mt.Gox's creditor clients.
Portuguese citizenship for Bitcoins
The new fund offered bitcoin holders a chance to obtain EU citizenship through the Portuguese Golden Visa program.
Alessandro Palombo, co-founder and CEO of the Unbound Fund, said that by investing €500,000 in cryptocurrency through the fund, investors can become participants in this program.
The Unbound Fund invests funds with 100% passive ownership of digital gold and will buy BTC-ETF shares from BlackRock for security and convenience. Palombo noted that the fund has already attracted its first clients and partners.
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