📈 Battered ETH Holders Get Some Relief

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Ethereum’s ETH is rallying, which is a relief for holders who watched ETH/BTC touch its lowest points since April 2021 over the weekend. Driving gains in part is ETF flows as the funds kicked the week off with consistent inflows. The Grayscale Ethereum Trust (ETHE) posted a daily inflow for the first time after the funds debuted three weeks ago. Rising prices will come as a relief to Bitcoin miners too, as they’re reportedly feeling “max pain.”

Plus, Aurora’s light client paves the way for Near-to-Bitcoin bridge, Backed and eNor Securities target Latin traders with tokenized assets, and Lido taps Wormhole and Axelar for BNB Chain bridge.

✍️ In today’s newsletter:

ETH resumes rally as ETFs host inflows
Bitcoin miners struggle after fourth halving
Near builds Bitcoin interoperability infrastructure
Backed targets Latin traders with tokenized RWAs
Lido community greenlights BNB Chain bridge for wstETH

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️🚀Ethereum Bounces as Grayscale’s Ether ETF Posts First Daily Inflow

ETH is enjoying bullish momentum as capital flows into spot Ether ETFs. The Grayscale Ethereum Trust posted its first daily inflow after 14 straight days of outflows, with the fund accounting for the majority of previous outflows from Ether ETFs.

⛏️Bitcoin Miners At ‘Max Pain’ As Experts Reckon Bottom Is In

Bitcoin miners are struggling to get to grips with low rewards following the fourth Bitcoin halving in April. A combination of price volatility, increasing hash rate, and Bitmain’s hardware dominance are exacerbating miners’ woes.

💡Near Targets Bitcoin Interoperability With Aurora Light Client

Near is readying to tap into Bitcoin’s growing DeFi and asset ecosystem. Aurora Labs launched a Bitcoin light client and relayer one week after Proximity Labs deployed chain signatures on Near, paving the way for a bridge allowing assets to freely flow between Near and Bitcoin.

🌎Backed Taps eNor Securities To Offer Tokenized RWAs To Latin America

Backed, a real-world asset (RWA) tokenization protocol, teamed up with the El Salvador-based eNor Securities exchange to offer on-chain RWAs to retail and institutional investors in Latin America. Backed will initially introduce Coinbase stock, shares in BlackRock’s S&P 500 ETF, and corporate and government bond ETFs per the partnership.

🌉Lido Community Approves Bridging wstETH Onto BNB Chain

Lido’s community approved the launch of BNB Bridge for its wstETH liquid staking token. The project will tap both Wormhole and Axelar to collaborate on its cross-chain infrastructure.

🌍 ELSEWHERE

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Australian Jailed After Spending Millions From Accidental Crypto.com Refund (Decrypt)
Possible BitGo wallet moves $2 billion worth of Mt. Gox bitcoin: Arkham data (The Block)
Aave DAO’s Chaos Labs Says ‘Risk-Off’ Recommendation for WBTC ‘Premature’ (Unchained)