🔸️Ethereum | Bitcoin & Altcoin News

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🥇 What happens to #Bitcoin when Michael Dell announces he's bought it, he's not ashamed of it and Dell Computers is going to buy more? All models get destroyed 🚀 🤝 @Cryptocurrency_Inside ✅ More News on X

🇺🇸 Gensler mum on timing of spot 🪙 Ethereum ETFs' launch, but says process is going 'smoothly' The process of launching spot Ethereum exchange-traded funds is "going smoothly," U.S. Securities and Exchange Commission Chair Gary Gensler said on Tuesday. The SEC approved 19b-4 forms for eight Ethereum ETFs last month. Firms vying for those products still need their registration statements, called S-1s (or S-3, in the case of Grayscale, which is seeking to convert its Ethereum Trust to an ETF), to become effective before trading can begin. Source ETH | BTC & ALTCOIN News

💰 Bitwise CIO predicts spot Ethereum ETFs will attract $15 billion of net inflows in 18 months Bitwise CIO Matt Hougan predicted that spot Ethereum exchange-traded funds will attract $15 billion of net inflows in their first 18 months, once launched in the U.S. The U.S. Securities and Exchange Commission approved 19b-4 forms for eight spot Ethereum ETFs from firms like Bitwise, BlackRock and Fidelity on May 23. However, the issuers still need to have their S-1 registration statements become effective before trading can begin. This is expected to happen in the next few weeks. Source ETH | BTC & ALTCOIN News

💰 Bitcoin sees $630 million outflow as crypto ETP trading volume hits new low amid market’s ‘true correction’ The crypto market is undergoing a significant correction as investors withdrew $584 million from crypto-related investment products last week, according to CoinShares’ latest report. Additionally, global trading volumes for crypto ETPs hit their lowest levels since the US Securities and Exchange Commission approved the launch of several spot Bitcoin exchange-traded funds (ETFs) in January, totaling just $6.9 billion for the week. Source ETH | BTC & ALTCOIN News

💰 CoinShares says 'true correction' underway after $544 million outflow from spot Bitcoin ETFs last week U.S. spot Bitcoin exchange-traded funds witnessed a combined $544.1 million in net outflows last week, surpassing $1.1 billion over the past fortnight. Globally, digital asset investment products witnessed outflows totaling $584 million for the second consecutive week, according to CoinShares’ latest report. The exchange-traded products also registered their lowest trading volumes since the U.S. spot Bitcoin ETFs launched in January at just $6.9 billion. Source ETH | BTC & ALTCOIN News

💡💡💡: 🥇 Mt Gox to start Bitcoin repayments - Bloomberg 🤝 @Cryptocurrency_Inside ✅ More News on X

🥇 Bitcoin's Power Law Model Gains Traction Despite Market Fluctuations In 2020 and early 2021, the stock-to-flow (S2F) bitcoin price model captured widespread attention. Although bitcoin currently stands over 13% below its peak value reached in March, the Power Law Corridor model has become increasingly influential. Many hold the view that the Power Law model’s support line has remained steadfast for over ten years and foresee that BTC could eventually reach six to seven-digit values, provided it consistently holds its course. Source ETH | BTC & ALTCOIN News

🪙 Asset managers update proposals for Ether ETFs, eyeing July launch Several asset managers submitted revised proposals for an Ethereum exchange-traded fund (ETF) to the United States Securities and Exchange Commission on June 21. VanEck, BlackRock, Grayscale and Invesco Galaxy Digital released an updated S-1 Registration Statement following the close of the markets on Friday. Earlier in the day, Fidelity also filed a new S-1 form with the regulator. Source ETH | BTC & ALTCOIN News

🪙 SEC closed the book on its Ethereum 2.0 investigation, but legal questions remain The Securities and Exchange Commission's move to close its "Ethereum 2.0" investigation of Consensys raises the question: So, is ether not a security? Consensys announced on Tuesday that the SEC's enforcement division notified the blockchain and web3 development company that it was closing its investigation into Ethereum 2.0 in a "major win" and said that it meant that the SEC "would not bring charges alleging that sales of ETH are securities transactions.". Source ETH | BTC & ALTCOIN News