💪 BlackRock Says Ether ETF Debut Was "Strong"

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BlackRock’s CIO of ETF and index investments described the debut week for spot ETFs as strong. Although the funds suffered more than $300 million in outflows, excluding the Grayscale Ethereum Trusts, the ETFs hosted $1.17 billion worth of inflows.

Nomura, the Japanese banking giant, teamed up with Dinero to launch an institutional fund fully backed by ETH liquid staking tokens.

The SEC amended its lawsuit against Binance, abandoning claims that the exchange facilitated trades for third-party security assets.

The market share of decentralized exchanges is at a new all-time high, with DEXes hosting more than 14% of spot crypto trades.

Plus, markets dip after U.S. government’s BTC transfers, Aave ships Lido-only version of v3, Ordinals crash despite Bitcoin bounce, Compound negotiates with alleged governance attacker, survey shows crypto owners vary by political affiliation, Catizen delays airdrop, and Slovenia first European digital sovereign bond.

✍️ In today’s newsletter:

BlackRock not interest in SOL ETFs
Spot Ether ETFs host outflows on debut week
Nomura ships institutional ETH staking fund
Binance amends Binance lawsuit
DEX market share tags new high
U.S. govt transfers $2B in Bitcoin
Aave ships custom stETH v3 deployment
Ordinals suffer drawdowns
Compound to distribute 30% of revenue to stakers
Academic survey reveals liberal web3 adoption
PETA donations prompt Catizen pushback
Slovenia pioneers European digital sovereign bond

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👀BlackRock Not Interested In Solana ETF, Expects To See Strong Inflows To Ether ETFs Around 2025

BlackRock’s CIO, Samara Cohen, of ETF and index investments, said the world’s largest asset issuer won’t expand its crypto ETF roster any time soon. Cohen also tipped that major inflows will come from tradfi giants in 2025.

️⬇️Ethereum ETFs Lag Behind Bitcoin ETFs in First Week

Spot Ether ETFs suffered significant outflows during their debut week, with $341 million exiting the funds. However, the ETF cohort hosted inflows of $1.17 billion excluding the Grayscale Ethereum Trust. For comparison, spot Bitcoin ETFs attracted $1.31 billion of inflows on their opening week.

🆕TradFi Giant Nomura Teams Up With Dinero On ETH Staking Fund

Nomura, Japan’s largest investment bank, launched an institutional fund offering exposure to Ethereum staking. The fund is backed by pxETH, the liquid staking token from Dinero — the recently rebranded Redacted Cartel.

📄SEC Amends Binance Lawsuit, Drops Security Claims for Solana and Other Cryptocurrencies

The SEC amended its lawsuit against Binance, dropping charges alleging the exchange facilitating trade in “crypto asset securities.” In February, Binance settled with the U.S. Department of Justice for $4.3 billion, while the exchange’s founder and former CEO, Changepeng Zhao, received a four-month prison sentence in April.

🚀Decentralized Exchanges’ Market Share Hits All-time High

Decentralized exchanges now account for more than 14% of spot crypto trading, marking a new all-time high. The milestone follows an uptick in activity on Solana DEXes.

📉Markets Turn Lower Amid Fears of U.S. Government Sales

The crypto markets languished on July 29 in response to the U.S. government transferring more than $2 billion worth of Bitcoin to Coinbase. While some onlookers speculated that the move was in response to Republican politicians working to create a strategic Bitcoin reserve, the U.S. Marshals Service announced plans to move its digital asset holdings to Coinbase Prime on July 1.

✈️Aave Launches Lido-Only V3 Deployment

Aave is throwing its weight behind the Lido Alliance by shipping a new deployment of its v3 protocol exclusively supporting stETH and wstETH. The protocol boasts a borrowing cap of 90% to facilitate efficient recursive lending.

⬇️Ordinals Bleed as BTC Touches $70,000

Leading Ordinals collections tumbled at least 20% over the past month despite BTC bouncing to test resistance at $70,000. The decline brings the floor price drawdowns of many collections to more than 80% from their all-time highs.

🤝Compound Agrees To Distribute 30% Of Reserves To COMP Stakers To End Alleged Governance Attack

Compound has come to an agreement with Humpy, a notorious whale accused of launching a governance attack against the project, to introduce a new staking program. Compound promised to distribute 30% of reserves to stakers moving forward in exchange for Humpy canceling a governance proposal that would have transferred 499,000 COMP from the project’s treasury to a yield protocol controlled by Humpy.

✍️Very Liberal Americans Are Most Likely To Own Bitcoin Says New Study

An academic study querying more than 3,500 participants found that “very liberal” respondents accounted for the largest share of crypto owners. The survey showed crypto adoption among people with varying political affiliations, with “very liberal,” “very conservative,” and “neutral” making up the largest groups by digital asset ownership.

🪂Telegram Game Catizen Postpones Airdrop After Community Backlash

Catizen, the Telegram-based web3 game, is facing backlash after donating $100,000 to PETA. Catizen postponed its airdrop and paused its donations to PETA in response to the pushback, and is currently fielding community suggestions for charitable organizations to support moving forward.

💵Slovenia Issues First Digital Sovereign Bond In Europe

Slovenia issued the first European digital sovereign bond in partnership with Bank of France and BNP Paribas. The 30 million Euro bond carries a return rate of 3.65%.

🌍 ELSEWHERE

Bitcoin dominance hits highest level since April 2021 (The Block)
Circle Said to Be Trading Around $5B Valuation Ahead of Planned IPO: Sources (CoinDesk)
News Russia Legalizes Bitcoin And Crypto for International Trade To Bypass Sanctions (Bitcoin Magazine)
Can Gary Gensler Be ‘Fired’ If Trump Becomes President Again? (Unchained)