Global #Ethereum

Over the last month, Ethereum has seen a robust 20% increase, largely attributed to the approval of eight spot-based ETF applications, a significant driving force behind this surge.

Brad Garlinghouse, CEO of Ripple Labs, expressed optimism about the approval of spot XRP ETFs in the United States during an interview on Fox Business. He suggested that it is inevitable for a spot XRP ETF to be approved but cautioned that it might not happen until at least 2025.

In the past month, cryptocurrency investment products attracted $2 billion in investments, pushing year-to-date inflows over $15 billion. The recent week alone saw $185 million invested.

Kraken, a prominent cryptocurrency exchange, has witnessed its highest Bitcoin and Ethereum outflows since 2017, signaling significant changes in the market as investors opt for self-custody and long-term holding strategies.

The recent approval of the Ethereum Spot ETF by the SEC on May 24, 2024, has prompted a notable increase in the movement of ETH holdings across various crypto exchanges.

Since the approval of spot Ether exchange-traded funds (ETFs) in the United States on May 23, over $3 billion worth of Ether (ETH) has been withdrawn from centralized crypto exchanges.