Bitcoin Reclaims $63,000 as Ethereum ETF Launch Date Is Set

Ethereum ETFs are set to join Bitcoin's next week. Will they spark a BTC run to $100K?

By: Zack Guzman

July 15, 2024


Bitcoin surged 5% to reclaim $63,000 for the first time in a month as Germany completed its $3 billion firesale and Ethereum ETFs finally secured a launch date.

This week: Organizers of the world’s largest Bitcoin conference confirm President Trump is still headlining despite an attempt on his life this weekend, the world’s largest asset manager Larry Fink calls Bitcoin “a legitimate financial instrument,” and Ethereum ETFs look set to begin trading next Tuesday, July 23 (potentially setting off another rally to new all-time highs.)

Listen to Coinage discuss these stories and more in our usual News Recap above.

Ethereum ETFs Expected July 23

We finally have a firm(er) expectation of when Ethereum ETFs are due to launch: July 23. Bloomberg’s Eric Balchunas was first to throw out the date, which Coinage confirmed. According to sources, final S-1s are expected to be filed Wednesday ahead of listings next Tuesday.

We chatted with the Chief Investment Officer of one of those ETH ETF issuers (Bitwise) and he expects the big debut to bring fireworks back to crypto. Bitwise’s Matt Hougan says ETH ETFs could compliment Bitcoin ETFs to push Bitcoin’s price north of $100,000 by the end of the year.

Bitcoin Inflows Stay Hot

Crypto investment products continue to attract investor attention. According to CoinShares, almost $1.5 billion poured into crypto investment instruments last week. That brings this year’s total haul to a record $17.8 billion, far surpassing the 2021 inflows of $10.6 billion.

Crypto investment products notched another week of impressive inflows. (Source: CoinShares)
Crypto investment products notched another week of impressive inflows. (Source: CoinShares)

Bitcoin investment products, bolstered by Bitcoin ETFs, saw the fifth-largest weekly inflows on record, claiming $1.35 billion.

Trump Still Headlining Bitcoin Conference

Fresh off of tapping Ohio Senator JD Vance as his Vice President on the Republican ticket, President Trump re-confirmed his attendance to speak at the world’s largest Bitcoin conference in Nashville despite the attempt on his life this weekend.

Conference organizers tell Coinage they are bolstering security, and that ticket sales have been growing since Trump was announced. The Washington Post reported that one of the conference’s founders promised Trump attending could result in a $15 million fundraising windfall.

BlackRock’s Larry Fink Calls Bitcoin “Legit”

Larry Fink, the CEO of the world’s largest asset manager in BlackRock, went on CNBC Monday to once again admit he was wrong about Bitcoin.

Fink, who had once called Bitcoin “an index for money laundering,” gave a full-throated endorsement for the crypto — calling it “a legitimate financial instrument.”

“It is a legitimate financial instrument that allows you to maybe have uncorrelated type of returns,” he said. “I believe it is an instrument that you invest in when you’re more frightened. It is an instrument when you believe countries are debasing their currency by excess deficits, and some countries are.”

What to Watch This Week…

Now that Ethereum ETFs have an expected launch date, Coinage is excited to once again have SEC Commissioner Hester Peirce back on with us. Thank you to everyone who has already shared questions they want answered by America’s beloved “Crypto Mom.” Have questions you want asked? Hit us up on X!

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