Roaring Debut: Ether ETFs Hit $1 Billion!

Grayscale & BlackRock Lead the Pack

Author

Jungle Degen
July 26, 2024

Greetings Crypto Explorers! 🌴🦜

Welcome to this week's Jungle Tales, your ultimate guide to the wildest happenings in the crypto-jungle. Our top story roars with the thrilling launch of nine spot Ether ETFs, hitting a massive $1 billion in trading volume on their first day! 🎉 Dive in as we also cover Bitstamp’s Mt. Gox repayments, Russia's crypto legalization, and much more. Hold tight to your vines; it's a wild ride ahead!

As always… Stay Wild! 🌿🦁🚀

🦍 The Big Jungle Roar

This week's monumental event that shook the crypto-jungle. Roar with us!

New Spot Ether ETFs See $1 Billion of Trading Volume on First Day

www.investopedia.com/spot-ether-etf-day-1-trading-wrap-volume-bitcoin-crypto-8682352

The jungle was buzzing with the launch of nine spot Ether ETFs! These wild new beasts saw a collective trading volume of just over $1 billion on their first day.

Grayscale Ethereum Trust (ETHE) took the crown with $456 million in trades. This big cat held over $9 billion worth of Ether before morphing into an ETF. Among the fresh faces, BlackRock's iShares Ethereum Trust (ETHA) led the pack with $240 million, trailed by Fidelity’s Ethereum Fund (FETH) at $136 million.

While these spot Ether ETFs were down 1% each, they still managed to stir the jungle, making up 21% of the volume seen by their Bitcoin cousins back in January.

Hold tight to your vines, the crypto jungle is always full of surprises! 🌴

📈 News about Ethereum:

🦁 King of the Crypto Jungle

Unleashing the top beasts of this week's crypto news. Beware, it's a wild ride!

🐒 Meme Monkeys

Hopping onto the funniest and savviest crypto memes that swung through the jungle this week

🦜 Jungle Mystery of the Week

Can you solve our crypto-themed riddle? The answer lies hidden deep within the jungle. Share your guesses on Twitter and tag us! (we may gift someone some crypto 👀)

In the deepest corners of the jungle, a new creature has emerged, sending ripples through the dense canopy. This entity, born from the convergence of tradition and innovation, promises to bridge the gap between the primal and the modern world. Its arrival has been met with both anticipation and skepticism, as its true impact on the jungle’s delicate balance remains to be seen. What is this enigmatic force that has captivated the attention of every crypto adventurer?

🦩 Tweets from the Jungle

Check out these wild crypto tweets that have made it to the jungle!

🐊 Crypto Swamp Watch

  • Bitcoin (BTC) - $67,110.75 (4.73%)

  • Ethereum (ETH) - $3,242.75 (5.08%)

  • Top Gainer: cat in a dogs world (+100.49%)

  • Top Loser: Lido DAO (-18.27%)

    Snapshot taken on the 25th of July, around 9:39pm, Jungle time.

🍍 Jungle Poll Parrot

Join our parrot's poll! This week's squawk…

What do you think about the launch of the new spot Ether ETFs?

Login or Subscribe to participate in polls.

🐯 Jungle Snapshots

Our grand finale - Jungle madness, guaranteed wilder than any pump and dump. Enjoy, you crypto beasts!

Up in the mountains!

👋 That's all for this issue of Jungle Tales! As we part ways, let's remember the wise words of a crypto degen:

In the cryptic expanse of the jungle, cycles are the lifeblood of every crypto adventurer's journey. Just as day follows night and seasons shift in nature, the crypto market ebbs and flows through periods of exuberance and decline. Recognizing these cycles is vital; it teaches us that moments of towering peaks are often followed by deep valleys, and vice versa. Patience during downturns and prudence during upswings can be the difference between triumph and turmoil. Embrace the cyclical rhythm of the jungle, for it is through understanding and respecting these natural patterns that one can truly harness the wild energy of the crypto world.

Don't forget to share our newsletter with your fellow crypto adventurers, and follow us on TwitterX.

Until next time, keep exploring the wild world of crypto!

Pura Vida,

Jungle Degen

JUNGLE WARNING: Hear me, ye dauntless navigators of the crypto wilderness. This parchment holds no keys to monetary splendor. Consider it more of a cryptic map of the jungle, teeming with teachings, not a treasure chest marked with an 'X'. It neither mutters veiled secrets of investment, nor beckons you to swap your prized assets or enact any fiscal transactions. In this unpredictable crypto habitat, caution is your most trusted ally, and your own robust investigation, the steadfast compass. Equip yourselves with the shield of wisdom, as you traverse the intricate network of paths. Remember, swift success is often a false trail; it is through enduring patience, adroit maneuvering and careful strategy can you navigate this mysterious landscape. The jungle is vast and filled with enigmatic conundrums; let your own diligent research be the torch that dispels shadows. Don't be lured by the glimmering illusion of quick profits, but bend your will to the pursuit of genuine understanding. Keep your wits about you and eyes wide open on this crypto-quest. To cut a long story short, this is NOT financial advice. Safe travels, crypto explorers!