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CryptoVideosETH ETF Recap, EURC on Base and More - The Daily Gwei Refuel #800 - Ethereum Updates
Crypto

ETH ETF Recap, EURC on Base and More - The Daily Gwei Refuel #800 - Ethereum Updates

•August 2, 2024
0
Anthony Sassano
Anthony Sassano•Aug 2, 2024

Why It Matters

Sustained institutional inflows and reallocations signal growing mainstream demand for ETH and could be a constructive long-term driver for price and market structure, even as short-term price effects remain uncertain. The trend also highlights shifting capital between crypto ETFs, which affects asset allocation and product positioning in the market.

Summary

In the second week after launch, spot Ethereum ETFs posted strong inflows led by BlackRock, with the new funds drawing roughly $1.5 billion in their first two weeks and several positive net-flow days. Outflows from legacy ETH trusts (ETHE) have tapered from prior peaks, while some BTC ETFs saw outflows—suggesting reallocations into ETH products. BlackRock’s ETF is already among the top new-launch performers, and major ETFs (BlackRock, Fidelity, Bitwise) now hold substantial AUM alongside billions remaining in legacy trusts. Despite the flows, Ether’s price has largely traded sideways, underscoring that ETF activity is a longer-term dynamic.

Original Description

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The Daily Gwei Refuel gives you a recap every week day on everything that happened in the Ethereum and crypto ecosystems over the previous 24 hours - hosted by Anthony Sassano.
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Timestamps and links 👇
00:00 Introductory song
00:10 ETH ETF recap
https://twitter.com/NateGeraci/status/1818471523801317679
https://farside.co.uk/?p=1518
https://twitter.com/hildobby_/status/1818277136131842418
09:56 AllCoreDevs update
https://twitter.com/TimBeiko/status/1819068820864336360
10:54 The power of EigenLayer AVS'
https://twitter.com/eigenlayer/status/1818777340350284186
15:40 Send assets to Base from Coinbase for free
https://twitter.com/coinbase/status/1818370874778828935
17:35 EURC now on Base
https://twitter.com/base/status/1819014108387381524
21:53 Eclipse layer 2 open for builders
https://twitter.com/EclipseFND/status/1818285443491991678
24:20 Movement public testnet now live
https://twitter.com/movementlabsxyz/status/1818301050035781845
26:23 ZKP2P updates
https://twitter.com/zkp2p/status/1818719072445681944
28:08 GrowThePie new feature
https://twitter.com/growthepie_eth/status/1818278478950679011
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DISCLAIMER: All information presented across all of The Daily Gwei's communication channels is strictly for educational purposes only and should not be taken as investment advice.
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