News & Research

U.S. spot Ethereum ETFs recorded a combined net inflow of $455.84 million on Aug. 8, marking the fourth-largest daily inflow on record and the fourth consecutive trading day of inflows, according to data from Trader T on X. BlackRock’s ETHA led with $249.35 million in inflows, followed by Fidelity’s FETH ($132.35 million), Grayscale’s mini ETH ($38.25 million), Grayscale’s ETHE ($26.84 million), Bitwise’s ETHW ($7.83 million) and Invesco’s QETH ($1.22 million). The remaining ETFs reported no change in their holdings for the day.

U.S. spot Bitcoin ETFs recorded a combined net inflow of $403.67 million on Aug. 8, marking the largest since July 17 and the third consecutive trading day of inflows, according to data from Trader T on X. BlackRock’s IBIT led with $359.77 million in inflows, followed by Fidelity’s FBTC ($30.49 million) and Grayscale’s mini BTC ($13.41 million). The remaining ETFs reported no change in holdings for the day.

Former Montenegro Justice Minister Andrej Milović has proposed establishing a national treasury to purchase Bitcoin (BTC) and Ethereum (ETH), Montenegro Business reported. He recommended issuing €500 million ($540 million) in five-year bonds to finance the plan, projecting the assets could appreciate to $3 billion to $5 billion within five years. Milović previously led the investigation and legal proceedings against former Terraform Labs CEO Do Kwon, who was arrested in Montenegro after fleeing the collapse of the Terra-Luna ecosystem.

Ethereum-holding companies and spot ETFs have purchased $19 billion worth of Ethereum so far this year, including $7 billion by ETFs and $12 billion by companies, according to NovaDius Wealth Management President Nate Geraci on X. VanEck’s Matthew Sigel said Bitcoin’s dominance has begun to decline as banks, fintech firms and corporates adopt stablecoins, many of which will be settled on open-source blockchains like Ethereum.

Core Scientific reported second-quarter (Q2) crypto mining revenue of $62.4 million, a 43.63% decline from the same period last year, according to a Business Wire press release. The company also postponed completing its planned merger with AI cloud-computing startup CoreWeave. The deal is an all-stock transaction in which CoreWeave will acquire Core Scientific, and it requires shareholder approval.

Nasdaq-listed social media marketing company Thumzup Media Corporation (TZUP) has launched a share offering to fund cryptocurrency investments and mining equipment purchases, according to a press release on PR Newswire.

CleanSpark Inc. (NASDAQ: CLSK) disclosed that U.S. Customs and Border Protection has classified some Bitcoin (BTC) mining rigs it imported between April and June 2024 as originating in China, potentially exposing the company to up to $185 million in punitive tariffs, according to Wu Blockchain on X.

Nasdaq-listed energy solutions firm VivoPower announced it will acquire $100 million worth of privately held Ripple shares to strengthen its XRP-focused digital asset strategy, according to GlobeNewswire press release. The company will also continue buying XRP tokens directly. This dual approach aims to lower the average acquisition cost of XRP and provide shareholders with unique exposure to both Ripple equity and XRP. VivoPower will become the first U.S.-listed firm with direct holdings in both.

Wallets holding less than 100 BTC are accumulating at a faster rate than new issuance, adding over 17,000 BTC in the past month compared to 13,850 BTC mined, according to Bitcoin News on X.

A SPAC deal to take Accelerate, a Solana-focused digital asset treasury firm led by Joe McCann, public has been canceled, according to sources, cited by Blockworks. The reason for the collapse remains unclear. The firm, which aimed to raise up to $1.5 billion, may seek alternative options. The news follows reports that McCann’s hedge fund, Asymmetric, is down nearly 80% this year.