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a day ago
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ETH Price Surges as $2.9B Inflows, EthCC, and Robinhood's L2 Fuel Bullish Sentiment
Ether (ETH) 3.5% in the past 24 hours to $2,519 as of 18:59 UTC on June 30, according to CoinDesk Research's technical analysis model, supported by continued institutional demand, network upgrades, and major retail platform integrations. Institutional interest remains robust, with CoinShares reporting $429 million in net inflows into ether investment products over the past week and nearly $2.9 billion year-to-date. This trend has coincided with a declining ETH supply on exchanges and rising staking levels, with over 35 million ETH —a round 28% of the total supply — now locked in proof-of-stake contracts. Market analysts suggest that these factors are reducing liquid supply and bolstering ether's long-term investment thesis. Robinhood announced on Monday that it is developing its own Layer-2 blockchain using Arbitrum's rollup infrastructure. The network is not yet live, but the initiative will eventually support Ethereum staking, tokenized stock trading, and perpetual crypto futures. Although the L2 is under development, the decision to build it on Ethereum's rollup ecosystem is seen as a long-term vote of confidence in Ethereum's scalability roadmap. Ethereum co-founder Vitalik Buterin has also introduced a new digital identity framework using zero-knowledge proofs. This system allows users to verify traits or credentials without revealing private data and is designed to help Web3 apps incorporate privacy-preserving identity systems. Analysts view this as a key step toward wider adoption of decentralized applications requiring sensitive user authentication. Meanwhile, the Ethereum Community Conference (EthCC) kicked off in Cannes, France, gathering more than 6,400 attendees and 500 speakers. The event showcases Ethereum's ongoing developer momentum through presentations on new tools, scaling strategies, and protocol improvements. Despite the positive momentum, ETH remains just below its 200-day moving average, suggesting technical barriers still exist. However, the confluence of inflows, developer progress, and scaling plans continues to support a constructive outlook. Technical Analysis Highlights Ether traded between $2,438.50 and $2,523 from June 29 19:00 to June 30 18:00, marking a 3.47% range. The largest spike occurred during the 22:00–23:00 UTC window on June 29, when ETH surged 2.9% on volume of 368,292 ETH, briefly pushing through the $2,500 barrier. On June 30 at 15:00 UTC, ETH found strong support around $2,438 on above-average volume, confirming a bullish floor. A local high of $2,523 was reached earlier in the day, establishing resistance just above the psychological $2,500 level. During the final hour from 18:00 to 18:59 UTC on June 30, ETH retraced from an intraday peak of $2,499.19 to close at $2,487.19. A sharp upward move between 18:20–18:21 saw ETH climb 1.6% on 6,318 ETH volume, stalling near $2,499. As of 20:23 UTC on June 30, ETH traded at $2,519, up 3.49% in 24 hours, signaling renewed bullish momentum into the Asia open. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
6 days ago
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Crypto for Advisors: Crypto Hits Wall Street
What do the latest crypto IPOs mean for the market? Aaron Brogan of Brogan Law breaks it down in today's Crypto for Advisors newsletter. Then, Jean-Marie Mognetti, CEO of CoinShares, provides insights from their latest investor insights survey about what clients are looking for from their advisors in terms of crypto support in Ask an Expert. Please note that there will be no newsletter next week. We are taking the week off in lieu of the holidays — we wish you a happy Canada Day and Independence Day for those celebrating. We will be back on July 10th. – Sarah Morton Unknown block type "divider", specify a component for it in the ` option Cryptocurrency is typically viewed as an alternative to traditional securities markets. Lately, this trend may have reversed, as cryptocurrency is increasingly a factor in public equity markets. Since January, there have been three major crypto IPOs: May 14, 2025 – eToro Group Ltd., a trading platform, raised approximately $619 million in its initial offering, valuing the company at about $5.6 billion. Its market cap has since decreased slightly to $5.17 billion. May 16, 2025 – Galaxy Digital Inc. uplisted from the Toronto Stock Exchange to Nasdaq, raising approximately $602 million in a mixed primary and secondary share sale priced at $19 per share. The deal valued the company at just over $8 billion. Its market cap has since settled at approximately $7.19 billion. June 5, 2025 – Circle Internet Group Inc., the issuer of USDC, raised approximately $1.05 billion in its IPO, selling 34 million shares at $31 apiece. The offering initially valued the company at about $8 billion, but a sharp post-offering rally has pushed its market cap to $43.9 billion. Each of these IPOs is remarkable, considering the extremely punitive regulatory environment of just one year ago, but Circle is in a class of its own. Circle raised the most money, and in the immediate aftermath, its stock popped by many multiples, indicating overwhelming demand. The pop was so extreme, in fact, that some felt the firm 'left money on the table' and questioned the motives of the bankers involved. In the wake of Circle's success, a number of other cryptocurrency firms are considering public offerings. On June 6, Gemini announced that it had submitted a confidential S-1 to the SEC, and on June 10, it was reported that Bullish followed. Numerous other firms, including Kraken, BitGo and ConsenSys, have reportedly also considered public turns. Yet, for these aspirants, the $20 billion question remains: Why has Circle exceeded expectations? Here are my three theories: 1. Public Market Comps Circle was not the first crypto company to outperform. Most famously, Michael Saylor's MicroStrategy (d/b/a Strategy) has, in recent years, become a bitcoin holding company with a rump software business. Currently, Strategy holds 592,100 bitcoin, valued at approximately $62 billion, compared to about $460 million in annual revenue from its legacy business lines. Strategy is a publicly traded company, allowing retail customers with brokerage accounts to purchase its stock and gain exposure to bitcoin. In theory, its market cap should be the sum of (1) the value of its bitcoin, plus (2) some de minimis premium for the rest. Generously, this might be $66 billion. But in reality, its market cap is $101 billion, prompting commentators to suggest that 'the U.S. stock market will pay $2 (or more) for $1 worth of crypto.' Circle's business model involves buying conventional vanilla financial assets (mostly short-dated U.S. Treasury bills) and then issuing cryptocurrency — roughly the opposite of Strategy — but it may benefit from the same premium. 2. The GENIUS Act Over the past several months, Congress has advanced the GENIUS Act, a piece of legislation intended to govern the regulatory treatment of stablecoins. This bill passed through the Senate last week and is expected to become law in the near future. In this theory, GENIUS will bring regulatory clarity, enabling the stablecoin ecosystem to thrive. In particular, the bill includes a prohibition on yield, which will disallow stablecoin issuers from passing on the yields they earn from holding collateral to token holders. Perhaps this increases issuers' value. Complicating this, however, is the likelihood that the bill will bring increased competition from banks, such as JPMorgan's recently announced tokenized deposits. Per Stablecon founder Nik Milanović, 'If I were Circle, I would be concerned about bank issuers of stablecoins.' 3. Treasury Instability Finally, there is the macro. Market factors have pushed up Treasury yields in recent months, and if this trend continues, it could be very lucrative for stablecoin issuers. Most issuer revenue comes from yields on the collateral they hold, so when those go up, the issuers benefit. Importantly, the biggest risk these issuers face is rates returning to zero, in which case they would lose the majority of revenue and may not be solvent for long. Perhaps a rerating of the quality of U.S. sovereign debt has increased the long-term value of this class of business. Looking Forward Of course, Circle's rise could be froth, too. Circle's market cap is now more than half that of Coinbase. For 10-K enthusiasts, this is a bit puzzling, as Coinbase has a contractual right to half of Circle's reserve revenue, as well as other business lines. For further reading, view the coverage of the Circle IPO. - Aaron Brogan, founder and managing partner, Brogan Law Unknown block type "divider", specify a component for it in the ` option Q. What does the survey data say? A. The survey reflects a clear shift in investor behavior: digital assets are no longer a side conversation. They've entered the core of how investors think about wealth — and they're not waiting for permission. Nearly 9 in 10 crypto holders plan to grow their allocation this year. That's not hype, that's commitment. However, what stood out most was the tension: investors are clearly seeking guidance, yet they don't always trust the advice they're being offered. We're seeing a generation of investors who are self-directed, well-informed, and fully engaged. They're not rejecting the role of the advisor, but they are raising the bar. They want intelligent, transparent conversations about crypto, and they expect their advisor to keep pace with them. That's a reality the industry has to face head-on. Q. What does this mean for advisors? A. It's an opportunity for advisors to strengthen client trust by expanding their expertise. Clients aren't just asking for access to crypto — they're asking whether their advisor actually understands it. And if 29% of them say a lack of experience or poor communication around risk would make them walk away, that's not a marginal issue. Advisors still play an essential role, but the model has evolved. What clients want is strategic insight and transparency. They want someone who has taken the time to understand the ecosystem and can speak fluently about risk, custody, and product structure. If an advisor can do that, they're not just protecting client capital, they're earning long-term trust. That's the difference between offering a product and earning a relationship. Q. What specific type of support are clients looking for? A. Clients are seeking guidance that strikes a balance between opportunity and caution. The most valued support isn't about picking tokens — it's about managing risk, navigating regulation, and accessing secure vehicles like ETFs or trusts. Over half of the investors we spoke to say that risk oversight is one of the most important roles an advisor can play in the crypto space. That's a huge opening. Especially for younger or sub-HNW investors, crypto is where they're building — and they need informed guidance. Advisors who step into that role thoughtfully can help shape the next phase of wealth creation. - Jean-Marie Mognetti, CEO, CoinShares Unknown block type "divider", specify a component for it in the ` option The US Federal Housing Finance Agency is reviewing whether crypto holdings like bitcoin could be used to qualify for mortgages. Texas has become the first U.S. state to create a publicly funded, stand-alone bitcoin reserve. The U.S. Federal Reserve Board announced on June 23 that it will no longer include reputational risk in its bank examination programs, removing a barrier for banks to support crypto companies. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-06-2025
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Ether Price Surges 4% as Markets Mostly Shrug Off Escalating Middle East Tensions
Ether (ETH) ETH traded firmly above $2,600 on Monday, up 3.71% over the last 24 hours, as global markets adopted a risk-on stance despite rising geopolitical tension in the Middle East. ETH hit an intraday high of $2,636.76 before settling around $2,614 during the early U.S. trading session. The move higher came as traditional markets showed surprising resilience in the face of conflict escalation. Per a report by CNBC, Israel's defense minister warned on Monday that Tehran would 'pay the price' after a renewed missile onslaught, marking the fourth straight day of heightened military activity. Yet global markets mostly absorbed the headlines: gold pulled back from near-record highs, Tel Aviv stocks rose, and European and U.S. equity futures opened in the green. Citigroup's Luis Costa attributed the calm to lingering hopes of a 'faster resolution' or limited retaliation. In the crypto market, risk sentiment returned in full force. All top 20 non-stablecoin cryptocurrencies were in the green on Monday, and ether was no exception. Its rally was underpinned by deepening institutional demand. According to CoinShares' latest 'Digital Asset Fund Flows Weekly Report,' Ethereum investment products saw $583 million in inflows last week — the highest since February. The report adds that ETH has now brought in $2 billion over the past nine weeks, equivalent to 14% of all assets under management in ether-linked funds. Futures markets also reflected growing investor engagement. CoinGlass data shows ETH open interest currently stands at 13.89 million ETH, or approximately $36.32 billion, reinforcing the sense that sophisticated players are positioning for continued upside. Technical Analysis Highlights ETH traded in a $126.66 range, rallying from $2,510.10 to $2,636.76 (+5.05% intraday), according to CoinDesk Research's technical analysis model. Price action broke through $2,550 resistance on strong volume and formed higher highs and higher lows. The 05:00 GMT candle showed volume exceeding 311,000 ETH, establishing a key support zone around $2,575. ETH pushed above $2,600 during three consecutive green hourly candles, suggesting sustained buying activity. A sharp drop occurred at 07:18 from $2,629.02 to $2,622.88 on heavy volume (>21,000 ETH), followed by immediate recovery. Final 30 minutes of the session showed consolidation between $2,627 and $2,630, with an ascending triangle structure taking shape. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
Yahoo
16-06-2025
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Major asset manager sets the clock ticking with latest move
Major asset manager sets the clock ticking with latest move originally appeared on TheStreet. CoinShares has joined the race for a U.S.-listed spot Solana exchange-traded fund (ETF). The firm filed a Form S-1 registration statement with the Securities and Exchange Commission (SEC) on June 13, seeking to enter the proposed 'CoinShares Solana ETF' that would provide investors direct exposure to Solana, a trend arising from asset managers looking to bring spot crypto products to U.S. markets outside of Bitcoin and Ethereum. A Solana ETF will provide a simple way for investors to gain exposure to Solana without directly buying the crypto asset. As outlined in the filings, the ETF would track price changes of Solana and be listed on a national securities exchange, pending SEC approval. The CoinShares filing comes at a time when institutional interest in Solana has gained steam, and it is one of the world's five largest cryptocurrencies by market capitalization. It comes on the heels of a similar wave of filings by firms like VanEck and 21Shares, indicating demand for more diversified crypto ETF products. In June, VanEck and 21Shares filed for their Solana ETFs in the US, which are currently awaiting approval. According to CoinShares' report, total inflows for digital asset investment products have been $1.9 billion in the week of June 9 to June 14. Altcoins such as Solana have continued to trend upwards since January. At press time, Solana is trading at $155.02, as per Kraken's price page. The CoinShares filing is a move to capture attention and inflows into non-Bitcoin crypto exposure. However, the SEC has yet to approve any spot Solana ETFs filed so far. Major asset manager sets the clock ticking with latest move first appeared on TheStreet on Jun 16, 2025 This story was originally reported by TheStreet on Jun 16, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
10-06-2025
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What's Driving Ethereum ETF Inflows for the 7th Straight Week?
Ethereum ETFs are making headlines once again, registering robust inflows as institutional and retail interest continues to climb. According to CoinShares, Ethereum products have recorded their seventh consecutive week of net inflows, raking in $296.4 million, signaling a strong resurgence of confidence in the second-largest cryptocurrency by market iShares Ethereum Trust ETHA accounted for the majority of the flows, bringing in $281.3 million and registering 15 consecutive days of inflows. This marks the strongest inflow streak since the U.S. presidential elections in November 2024 (read: 5 ETFs to Ride the Bullish Wave of Ethereum's Pectra Upgrade).The recent surge in inflows represents one of the most significant upward trends for digital asset funds this year. After a period of sluggish performance and regulatory uncertainty, Ethereum is benefiting from a shift in sentiment, particularly among institutional investors. We have highlighted several factors behind the sharp reversal: The U.S. Securities and Exchange Commission (SEC) recently showed a more receptive stance toward Ethereum-based ETFs. With spot Ethereum ETFs now approved for listing on major exchanges, investors are viewing the asset as more legitimate and accessible. These ETFs provide an easy entry point for institutions looking to gain exposure to cryptocurrency without holding the token directly, fueling broader adoption. The rapidly evolving story around stablecoins and tokenization is driving Ethereum inflows. With growing interest from major fintech players like Visa, Mastercard and Stripe, stablecoin-based payment systems are reshaping how public blockchains like Ethereum are viewed. Recent data shows record-high transaction volumes for stablecoins on Ethereum, highlighting its growing relevance in global payments, remittances and decentralized finance. Investor interest in Ethereum ETFs is gaining momentum amid growing speculation that the U.S. Securities and Exchange Commission (SEC) may soon permit staking within spot ETH ETFs. A pivotal development came on May 29, when the SEC's Division of Corporation Finance indicated that certain staking activities may not be classified as securities, a nuanced but meaningful shift in regulatory has filed for incorporation of staking in its Galaxy Ethereum ETF, joining major players like Fidelity, Grayscale and Bitwise in preparing for a potential green light. If approved, staking could introduce an additional yield component to Ethereum ETFs, significantly boosting their appeal to yield-seeking investors. The U.S. Senate is also playing a role in bolstering Ethereum's investment case. The upcoming GENIUS Act, which aims to regulate stablecoins, could provide the regulatory clarity needed for wider adoption. If passed, it may solidify Ethereum's role as the infrastructure for compliant stablecoin issuance and transactions, further driving ETF flows. With inflation data stabilizing and central banks showing signs of easing monetary policies, risk appetite is gradually returning to global markets. Cryptocurrencies, particularly Ethereum, are benefiting from this shift, with investors rotating back into digital assets amid hopes of a new bullish cycle (read: Ethereum ETFs Outperforming in May). iShares Ethereum Trust ETF seeks to reflect the performance of the price of Ethereum. It is managed by the world's largest asset manager and leverages a multi-year technology integration developed with Coinbase Prime, the world's largest institutional digital asset custodian. ETHA has AUM of $3.8 billion and trades in an average daily volume of 14.4 million shares. It charges 25 bps in annual fees. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research
