Ethereum (ETH) — Onchain News & Whale Tracking

Yesterday, US Bitcoin spot ETFs recorded a net inflow of $314.3 million, while US Ethereum spot ETFs saw a net inflow of $179.8 million.

According to data from Farside, U.S. spot Bitcoin ETFs recorded a combined net inflow of $314.3 million yesterday. The breakdown is as follows: BlackRock’s IBIT saw a net inflow of $284.4 million, Fidelity’s FBTC brought in $15.4 million, Bitwise’s BITB had $3 million, MSBT $4.5 million, and BTC $7 million. Separately, U.S. spot Ethereum ETFs posted a total net inflow of $179.8 million, with BlackRock’s ETHA at $146.4 million, ETHB at $7.6 million, and Fidelity’s FETH at $25.8 million.

Ethereum's Glamsterdam upgrade will adjust gas pricing for state operations, and a small number of contracts with hardcoded gas assumptions may need to be fixed.

The Ethereum Foundation team has released an impact assessment of gas repricing for the upcoming Glamsterdam upgrade. The upgrade includes two EIPs: EIP-8037 and EIP-8038. The former increases and standardizes the cost of creating new states, including new accounts, new storage slots, and deployed bytecode. The latter raises the cost of state access operations (such as SSTORE, SLOAD, and cold account access), making gas prices more accurately reflect actual resource consumption. State operation gas pricing has not been adjusted since the Berlin fork in 2021, while Ethereum’s state size has grown significantly, and recent increases in the gas limit have further accelerated this growth. The new pricing is based on a performance target supporting approximately a 3x increase in base throughput, and serves as a necessary prerequisite for future further hikes in the gas limit. The team evaluated the actual impact by replaying historical mainnet transactions, categorizing all transactions into four groups: most transactions are completely unaffected; some transactions still succeed but have changes in details like gas usage; some contracts run out of gas under their original limit but can complete when the limit is raised; a tiny number of contracts may still fail even with a significantly increased gas limit. This last category typically relies on hardcoded gas assumptions. Developers can check if their contracts are affected and verify fixes on the Plat?berget testnet. End users do not need to take any action, as updated wallets and infrastructure will handle the changes automatically.

TRON reached 400M total users in just 8.16 years, much faster than Bitcoin and Ethereum.

TRON reached 400M total users in just 8.16 years, much faster than Bitcoin and Ethereum. Bitcoin took 9.4 years to reach 400M users, while Ethereum took over 10 years.

THORChain has rolled out its major version 3.20 upgrade, enabling native swaps of Monero (XMR) and Zcash (ZEC) for Bitcoin (BTC), Ethereum (ETH), and stablecoins.

THORChain has announced the launch of version 3.20, adding native cross-chain swap support for Monero (XMR) and Zcash (ZEC). Users can directly swap XMR and ZEC for BTC, ETH, and stablecoins without requiring wrapped assets, centralized exchange accounts, or surrendering custody of their funds. The upgrade also introduces Protocol-Owned Liquidity (POL) and Stable Reserve, while restoring support for Solana, Base, and BNB. The Stable Reserve enables zero-liquidity-fee swaps between stablecoins. This upgrade is expected to provide a new non-custodial trading path for users facing shrinking liquidity channels due to centralized exchanges delisting or restricting XMR.

BIT-linked addresses liquidated $419 million worth of Ethereum (ETH) and Bitcoin (BTC) long positions, generating a profit of $55.095 million.

According to on-chain analyst Ai Yi (Twitter handle @ai_9684xtpa), BIT-related entities have a total of 11 addresses. These addresses previously held long positions in ETH and BTC worth a combined $419 million, and have since closed out the positions for a profit of $55.095 million. Currently, address 0xf78…6c581 holds 1,602.11 remaining ETH long positions, valued at $3.97 million, with an unrealized profit of $707,000.

Ethereum developers propose quantum-resistant deposit contract scheme.

Ethereum developer Kevaundray and fellow contributors have submitted a new Ethereum Improvement Proposal (EIP) draft, proposing the introduction of a post-quantum-ready deposit contract. The proposal would leverage variable-length validator deposit contracts and irreversible BLS key retirement mechanisms to provide Ethereum’s validator deposit contracts with a future-proof upgrade path against quantum computing threats. The draft remains in the Draft stage and requires further deliberation.

Yesterday, U.S. spot Bitcoin ETFs posted a net inflow of $337.6 million, while U.S. spot Ethereum ETFs recorded a net inflow of $115.6 million.

According to Farside data, U.S. spot Bitcoin ETFs posted a combined net inflow of $337.6 million yesterday. Of this, BlackRock’s IBIT saw a net inflow of $208.9 million, Fidelity’s FBTC $104.6 million, Bitwise’s BITB $3 million, Grayscale’s BTC $16.4 million, HODL $3.3 million, and MSBT $1.4 million. U.S. spot Ethereum ETFs recorded a total net inflow of $115.6 million, with breakdowns as follows: BlackRock’s ETHA brought in $90.9 million, Fidelity’s FETH $6.8 million, ETHW $0.9 million, ETHV $4.5 million, and ETH $12.5 million.

Arthur Hayes: Maelstrom is fully invested in risk assets, with Bitcoin, Ethereum, and others as core bets.

Arthur Hayes published a post noting that his Maelstrom Fund is currently at "maximum risk exposure", with core bets on Bitcoin, Ether, Ethena, and Ether.fi. Hayes argues that whether U.S. Treasury Secretary Bessent increases U.S. dollar liquidity rapidly or gradually, Bitcoin will keep rising, though market volatility will also spike. As such, he advises against using leverage unless one is a full-time trader. Hayes also pointed out that Bessent’s recent move to expand long-term U.S. Treasury repurchase operations could further boost U.S. dollar liquidity, lifting Bitcoin and other risk assets. He projects that if U.S. Treasury yields approach 5% again, the U.S. Treasury may further expand repurchase volumes or take other steps to increase U.S. dollar liquidity.

Tom Lee: Bitmine’s 10-year vision is betting on Ethereum to become the leading public blockchain for tokenization and AI applications.

Bitmine Chairman Tom Lee publicly outlined the company’s 10-year strategic vision, explicitly positioning Ethereum as the core infrastructure for future tokenization and artificial intelligence applications. Bitmine’s true historical contribution lies in helping Ethereum maintain its status as the most important public blockchain in the future. When discussing the long-term competition between Ethereum and Bitcoin, Lee stated that the claim of ETH’s market capitalization overtaking BTC is "very well-founded." He also projected massive upside potential for Ethereum’s price, noting: "Whether it’s $50,000, $100,000, or $200,000, the returns for our shareholders will be legendary."

The largest on-chain Ethereum long holder has begun taking profits, liquidating approximately $34.15 million worth of long positions.

According to TradingBeats monitoring, the largest on-chain Ethereum long position address linked to BIT has initiated profit-taking. The address is 0xa5b0edf6b55128e0ddae8e51ac538c3188401d41; it sold 14,000 ETH five minutes ago, worth approximately $34.15 million. Its remaining holdings are valued at around $25.24 million, with an average long entry price of $2,340.86, and the remaining position holds an unrealized profit of roughly $1.83 million. The address has repeatedly received fund transfers from Matrixport, which has since rebranded as BIT. It is currently the largest on-chain ETH long position, with two associated addresses coordinating position-building, making this the primary address.

A crypto whale has opened a long position in Bitcoin (BTC) and Ethereum (ETH) valued at $71.8 million, with Bitcoin’s entry price standing at approximately $78,000.

According to monitoring by EmberCN, a crypto whale transferred 8 million USDC into Hyperliquid half an hour ago, opening long positions in BTC and ETH worth $71.8 million, with an unrealized profit of over $150,000. Notably, the whale opened the positions just before the release of news that the U.S. Treasury may deploy nearly $1 trillion to fund an expansion of the U.S. Treasury bond repurchase program. Its holdings are as follows: 600 BTC valued at $46.94 million, with an average long entry price of $78,032; 10,000 ETH valued at $24.89 million, with an average long entry price of $2,479.

Bessent targets the trillion-dollar "emergency fund pool" to buy US Treasuries, giving the short-term market a boost; Bitcoin, Ethereum, gold and US Treasuries all rally across the board.

After news broke that the U.S. Treasury may draw nearly $1 trillion in Treasury General Account (TGA) funds to support its recently announced expanded U.S. Treasury bond repurchase program, the market received a short-term boost. U.S. Treasury Secretary Scott Bessent said such operations could even exceed this new minimum level. However, the Treasury did not specify at the time how it would fund these purchases. Per HTX market data, Ethereum rose above $2,500, while Bitcoin broke through $78,000. Per BIT (bit.com) market data, U.S. stock index futures pared some losses: S&P 500 and Dow Jones futures are currently down around 0.1%, and Nasdaq futures are down roughly 0.4%. U.S. Treasuries extended their rally, with the 10-year Treasury yield falling 4 basis points to 4.70%. Per Bitget market data, spot gold climbed above $4,670 per ounce, up 1.47% on the day.

Ethereum surpasses $2,500, with a 1.6% gain in the last 24 hours.

According to HTX market data, Ethereum has surged past $2,500, posting a 1.6% gain over the past 24 hours.

Ethereum falls below $2,400

According to HTX market data, Ethereum has fallen below $2,400, with a 24-hour decline of 4.9%.

US Congresswoman Tlaib, who opposed the CLARITY Act, was revealed to hold ETFs related to Bitcoin (BTC) and Ethereum (ETH).

According to a New York Post report, U.S. Democratic Representative Rashida Tlaib’s latest financial disclosure shows her roughly $1.2 million retirement investment account includes up to $15,000 in Grayscale Ethereum ETF and up to $15,000 in Bitcoin ETF. Both holdings are ETFs, not direct ownership of BTC or ETH. The disclosure documents indicate the account holds a total of 41 investments. Since U.S. lawmakers only disclose assets by amount brackets, Tlaib’s exact holdings in the crypto ETFs cannot be determined. Tlaib previously voted against the CLARITY Act, which supports the crypto industry, and backed a resolution aimed at banning "crypto corruption". The CLARITY Act is expected to be considered by the Senate in September after Congress returns from its recess.

U.S. spot Bitcoin and Ethereum ETFs posted a combined net inflow of $2.6 billion this week, marking the highest level since October 2025.

U.S. spot Bitcoin and Ethereum ETFs saw a combined net inflow of $2.6 billion this week, marking the highest level since October 2025. Of that total, spot Bitcoin ETFs pulled in $1.9 billion, while spot Ethereum ETFs took in $697.2 million. Both products recorded their largest weekly net inflows since 2026. This reversed the combined net outflow of $392 million from the prior week, representing a weekly fund swing of roughly $3 billion. Combined trading volume for the two ETFs rose to $29 billion, more than tripling from the previous week. Spot Bitcoin ETFs’ weekly trading volume surged from $6.9 billion to $22.1 billion, a jump of over 219%, while their combined net asset value (NAV) increased from $76.6 billion to $96.1 billion. The cumulative net inflow into spot Bitcoin ETFs since their launch has hit $53.7 billion. For its part, spot Ethereum ETFs notched their largest weekly net inflow since the week of October 3, 2025.

Bitmine’s unrealized losses on its Ethereum positions narrowed to $5.408 billion.

According to the latest holding data from Bitmine, the treasury firm holds a total of 5,815,164 Ether (ETH), with an average cost basis of $3,366 per ETH. At the current ETH price of $2,436, the total unrealized loss on its holdings has narrowed to $5.408 billion, after previously exceeding $10 billion at one point.

The overall crypto market experienced a short-term plunge, with Bitcoin briefly falling below $77,000 and Ethereum briefly dropping below $2,400.

According to HTX market data, the overall cryptocurrency market has pulled back, with Bitcoin briefly falling below $77,000, Ethereum briefly dropping below $2,400, and SOL briefly slipping below $90.

Yesterday, U.S. spot Bitcoin ETFs posted a net inflow of $307.5 million, while U.S. spot Ethereum ETFs recorded a net inflow of $184 million.

According to Farside's monitoring, U.S. spot Bitcoin ETFs posted a net inflow of $307.5 million yesterday, marking five consecutive trading days of robust net inflows. In the same period, U.S. spot Ethereum ETFs saw a net inflow of $184 million, extending their streak to seven straight trading days of net inflows.

Arthur Hayes: Ethereum has significant room for a catch-up rally; once it breaks through $3,000, the next target is $5,000.

Arthur Hayes told Laura Shin during a podcast appearance that ETH is one of the most despised large-cap altcoins in the market. As the second-largest cryptocurrency by market capitalization, it has yet to break through its 2021 all-time high. From a risk-reward standpoint, at least in how he manages portfolios at Maelstrom, ETH is currently his largest position outside of Bitcoin. “I’m not particularly worried about waking up one day to find ETH has gone to zero. Of course, that scenario could occur, but that risk is far lower compared to other cryptocurrencies, so I’m very comfortable allocating a large position to this trade. Since it has not rallied much in this cycle, I believe it has significant catch-up upside. Once it starts moving higher, the reflexive momentum train will kick in. There are so many people who want to go long ETH for various reasons, and there were very valid justifications for why they didn’t do so in past years,” Hayes noted. He added: “Once we break through the $3,000 level, I think you will truly see ETH’s rally get underway, and it could quickly surpass $5,000. My year-end target is within reach.”

Ethereum Surpasses $2,400

According to HTX market data, Ethereum has broken through the $2400 level, currently trading at $2408, with a 24-hour increase of 5.84%.

Yesterday, Bitcoin ETFs posted a net inflow of $606.3 million, while Ethereum ETFs saw a net inflow of $219.5 million.

According to monitoring by Farside Investors, Bitcoin ETFs posted a net inflow of $606.3 million yesterday, while Ethereum ETFs recorded a net inflow of $219.5 million.

A crypto whale that set 10 major targets first has reopened short positions on Ethereum (ETH) and added to its Bitcoin (BTC) short positions, bringing the total to 202.265 BTC.

Whale codenamed "Set 10 Big Goals" has reopened short positions on Ethereum (ETH), currently shorting 1,211.812 ETH at an entry price of $2,346.83. It also added to its short positions on Bitcoin (BTC), bringing the total to 202.265 BTC at an entry price of $74,506.57. Previous reports showed the whale pocketed $20 million from long positions on August 19, while $6.28 million in profits were wiped out by its recent short trades, leaving a net profit of $13.72 million from the round of long-short transactions.

August 20 Update: #Bitcoin ETFs: 1D NetFlow: +6,603 $BTC(+$472.2M)🟢 7D NetFlow: +11,149 $BTC(+$797.21M)🟢 #Ethereum ...

August 20 Update: #Bitcoin ETFs: 1D NetFlow: +6,603 $BTC(+$472.2M)?? 7D NetFlow: +11,149 $BTC(+$797.21M)?? #Ethereum ETFs: 1D NetFlow: +78,306 $ETH(+$177.85M)?? 7D NetFlow: +132,276 $ETH(+$300.42M)??

Whale "First Set 10 Big Goals" has liquidated $222 million worth of Bitcoin (BTC) and Ethereum (ETH) short positions, incurring a loss of $6.283 million.

According to on-chain analyst Ai Yi (@ai_9684xtpa), the trading account "10 Big Goals First" has fully closed all its short positions in BTC and ETH worth $222 million via stop-loss orders, taking a loss of $6.283 million. The account made $13.04 million from long positions yesterday, but today's short trades erased $6.28 million of those gains, resulting in a net profit of $6.76 million for this round of long-short trading.

Bitcoin ETFs posted a net inflow of $454.8 million yesterday, while Ethereum ETFs saw a net inflow of $186.8 million.

According to monitoring by Farside Investors, Bitcoin ETFs recorded a net inflow of $454.8 million yesterday, while Ethereum ETFs saw a net inflow of $186.8 million.

Ethereum Foundation member Binji Pande is joining Ethlabs as a founding member.

Ethereum Foundation member Binji Pande announced via Twitter that he will join non-profit Ethereum R&D lab Ethlabs as a founding member to advance Ethereum’s development.

Amid Ethereum's rally, on-chain short liquidations exceeded $1.1 billion over the past 24 hours.

According to TradingBeats (formerly Hyperinsight), the crypto market is warming up, with Ethereum (ETH) posting a 24-hour gain of 16.51% and trading at $2,229.70. Over the past 24 hours, on-chain ETH liquidations have been substantial. The largest single liquidation came from one of the main addresses of "pension-usdt.eth", totaling $108.15 million and occurring 6 hours ago. Another address linked to the entity also saw $3.18 million in short positions liquidated. Other notable liquidations include: "picholas" had a $13.82 million position cleared, the "0x01...a990 sub-address" was liquidated for $9.98 million, and "0x83...f54a" saw $5.99 million in liquidations, among others. The dense liquidation zone near current prices signals high long liquidation risk at the top, with "Maji" facing $46.48 million in long liquidation risk at a liquidation price of $2,171.73, just 3.2% below the current level. Current open interest stands at $1.89 billion. The long-short ratio of the top 10 whales is 2.3333, while the overall long-short ratio is 1.70:1. There are 10,409 long position holders, with short holders accounting for 63.0% of the total, indicating a bullish market sentiment.

Tom Lee breathes a sigh of relief, as Bitmine’s unrealized losses on its Ethereum holdings narrowed by nearly $2 billion overnight.

According to the latest Bitmine holdings data, the treasury firm holds a total of 5,815,164 ETH, valued at $11.06 billion, with an average cost basis of $3,366. Due to Ethereum’s nearly 20% rally last night, the unrealized loss on its holdings shrank to $6.65 billion overnight.

Ethereum address 'pension-usdt.eth' had its ETH short position liquidated, incurring losses of approximately $26.66 million.

According to monitoring by Onchain Lens, Hyperliquid trader "pension-usdt.eth" had their ETH short position liquidated, with an exposure of approximately $108.18 million. On-chain data shows the trader incurred a $26.66 million loss from this liquidation, though their cumulative historical profit remains positive at $17.76 million. Prior to the liquidation, the address held around 50,000 ETH short positions valued at roughly $85 million. The trader's on-chain address is: 0x0ddf9bae2af4b874b96d287a5ad42eb47138a902

Ethereum surges past $2,300, gaining over 20% in 24 hours.

According to HTX market data, Ethereum has broken through the $2,300 level, with a 24-hour gain of 20.48%.

Ethereum briefly surpassed $2,100, posting an 8.55% gain over the past 24 hours.

Per HTX market data, Ethereum briefly surged past $2,100, posting an 8.55% gain over the past 24 hours.

Ethereum surpasses $2,000

Per HTX market data, Ethereum has broken through $2,000, rising 4.42% over the past 24 hours.

Bitcoin and Ethereum ETFs see strong inflows: $BTC +3,134 and $ETH +34,698 in 24h

August 19 Update: #Bitcoin ETFs: 1D NetFlow: +3,134 $BTC(+$204.36M)?? 7D NetFlow: +3,413 $BTC(+$222.5M)?? #Ethereum ETFs: 1D NetFlow: +34,698 $ETH(+$67.17M)?? 7D NetFlow: +57,917 $ETH(+$112.12M)??

Yesterday, Bitcoin ETFs posted a net inflow of $189.3 million, while Ethereum ETFs registered a net inflow of $71.4 million.

According to monitoring by Farside Investors, U.S. spot Bitcoin ETFs posted a net inflow of $189.3 million yesterday, with IBIT contributing $143.6 million of that total. This marks the second consecutive day of net inflows for Bitcoin ETFs overall. Ethereum ETFs saw a net inflow of $71.4 million, while ETHA recorded a net inflow of $64.7 million.

August 18 Update: #Bitcoin ETFs: 1D NetFlow: +4,436 $BTC(+$284.05M)🟢 7D NetFlow: +13 $BTC(+$819.51K)🟢 #Ethereum ETF...

August 18 Update: #Bitcoin ETFs: 1D NetFlow: +4,436 $BTC(+$284.05M)?? 7D NetFlow: +13 $BTC(+$819.51K)?? #Ethereum ETFs: 1D NetFlow: +16,091 $ETH(+$30.46M)?? 7D NetFlow: +27,042 $ETH(+$51.19M)??

Ethereum Foundation core developer Sina Mahmoodi announces his departure, having been deeply involved in key infrastructure projects including Geth.

Ethereum Foundation core developer Sina Mahmoodi announced today that he is formally leaving the organization after over seven years with EF. He joined the Ethereum Foundation immediately after graduating from university in 2019, contributing to projects including EthereumJS (the TypeScript/JavaScript implementation of Ethereum’s execution layer), eWASM (Ethereum’s WebAssembly project), and most notably Geth (Go-Ethereum, one of Ethereum’s most core execution layer clients). Mahmoodi stated that he feels extremely fortunate to have worked alongside some of the smartest and most dedicated people on work he truly believes is meaningful, adding that he is particularly proud of his work on Geth, which has supported Ethereum through various challenging times and become critical infrastructure for its vast ecosystem. His belief in Ethereum remains unchanged: it is an open, global settlement layer that does not rely on any single government, company, or power center, and is worthy of continued development.

Ethereum Foundation Warns: Glamsterdam Upgrade May Cause Some Wallets and Tools to Stop Working

The Ethereum Foundation (EF) has warned developers that upcoming gas model changes in the Glamsterdam upgrade may cause compatibility issues for some wallets, indexers, and gas estimation tools. The EF’s Protocol Development and Operations team stated that any tools relying on hard-coded maximum gas limits will be affected and require updates. The team advised developers to test relevant systems in advance on the Plataberget public testnet, which will run for several months to prepare for the Glamsterdam upgrade. According to upgrade tracking platform Forkcast, Plataberget launched on August 13, and the Glamsterdam fork is scheduled to activate on the network this Thursday, followed by deployments on the Sepolia and Hoodi testnets. This upgrade involves EIP-8037, which introduces an independent "state gas" dimension for operations that create new blockchain states. Post-upgrade, standard ETH transfers to existing accounts will still require 21,000 gas, but sending ETH to new accounts will incur additional state gas fees. The Ethereum Foundation noted that developers need to re-audit software that defaults to "all ETH transfers only cost 21,000 gas" or uses a single gas dimension to estimate transaction costs. In addition to gas model adjustments, Glamsterdam will also include native Proposer-Builder Separation (PBS), block-level access lists, and improvements such as increasing size limits for contracts and initialization code.

Ethereum’s EIP-12188 Proposes Reducing Consensus Layer Block Retention Window, Gains Developer Support

Ethereum developer kevaundray has submitted EIP-12188 to GitHub, proposing to reduce the consensus layer (CL) block retention window to ease node storage pressure. The proposal is now in public review and has garnered support from several Ethereum client developers. Developer dapplion voiced backing for the idea, while Lighthouse client contributor michaelsproul stated the adjustment will not cause significant issues for Lighthouse’s operation. The proposal notes that as Ethereum’s historical data requirements evolve, cutting the retention period of consensus layer historical blocks can optimize node resource utilization. Discussions have flagged that execution layer (EL) historical data pruning may impact some long-running nodes that supply old block data, but developers argue this will not threaten network security or normal node functionality. EIP-12188 has not yet been merged and remains subject to further review and community debate.

A whale transferred 32,400 ETH to the Ethereum staking deposit contract, worth approximately $61.46 million.

Per Whale Alert monitoring, a crypto whale transferred 32,400 ETH to Ethereum’s staking deposit contract (Beacon Depositor), valued at roughly $61.46 million, for staking.

Vitalik: Ethereum’s scaling roadmap will integrate the advantages of UTXO-style models, ultimately achieving ultra-large-scale expansion without sacrificing decentralization and censorship resistance.

Ethereum co-founder Vitalik published an article outlining the core goals of Ethereum’s current scaling strategy. He first acknowledged the Bitcoin community’s pioneering technical contributions, then clarified that Ethereum’s proposed scaling strategy is advancing along that direction. Vitalik emphasized: “We want Ethereum to have both UTXO-style state, dynamic state, and all the advantages of both.” This means Ethereum is seeking to integrate the Bitcoin UTXO model’s strengths in efficient state management, light node verification, and scalability with its own flexible account model, smart contract ecosystem, and dynamic state capabilities. Vitalik reiterated that the ultimate goal of Ethereum’s scaling efforts is to achieve “hyperscaling” for the vast majority of activities on the network, without sacrificing three core attributes: decentralization, node operation convenience, and censorship resistance. Ethereum’s roadmap is shifting from a sole focus on scalability to a systematic effort to strike a better balance between scalability and decentralized resilience.

Bitcoin (BTC) and Ethereum (ETH) ETFs attracted $1.1 billion in capital last week, ending a net outflow trend that persisted for most of 2026.

Bitcoin and Ethereum ETFs together recorded combined net inflows of $1.1 billion last week, ending a trend of sustained net outflows that has persisted for most of 2026, as institutional capital flows back to the crypto market. BlackRock’s Bitcoin ETF IBIT was the main source of these inflows, accounting for roughly 80% of total inflows into Bitcoin ETFs. However, market trading activity remains relatively subdued, with BTC ETF volumes hitting their second-lowest level since October 2024 last week. Prior to this, BTC and ETH ETFs had faced persistent net outflow pressures. As market sentiment improved, institutional investors resumed increasing their digital asset allocations, resulting in a clear reversal in ETF fund flows. Market analysts note that IBIT has remained the primary channel for institutional capital to enter the Bitcoin market, showing that traditional financial institutions still prefer gaining crypto exposure via regulated ETF vehicles.

Cboe applies to the SEC for approval of the first U.S. 3x leveraged Bitcoin and Ethereum ETFs.

The Cboe BZX Exchange, a unit of the Chicago Board Options Exchange (Cboe), has filed a rule change application with the U.S. Securities and Exchange Commission (SEC) to launch the U.S. market’s first 3x leveraged Bitcoin and Ethereum ETFs. Per the filing, Cboe plans to list ETFs including 3x Bitcoin ETFs, 3x Ethereum ETFs, and 3x leveraged ETFs for gold, silver, crude oil, and natural gas. These products aim to deliver 3x the daily returns of their underlying assets by holding futures contracts from the Chicago Mercantile Exchange (CME) or the New York Mercantile Exchange (COMEX), with cash and cash equivalents serving as collateral. The proposed ETFs will operate as "commodity pools" regulated by the U.S. Commodity Futures Trading Commission (CFTC), rather than the traditional ETF structure overseen by the SEC under the Investment Company Act of 1940. As leveraged products do not meet the exchange’s existing general listing standards, Cboe is required to file a special rule change application with the SEC and plans to concurrently submit an S-1 registration statement under the Securities Act of 1933. Cboe stated that this structure will provide an additional federal regulatory layer. The funds will be issued by Volatility Shares LLC and operated under VS Trust. Market analysts note that 3x leveraged ETFs are primarily targeted at short-term trading and professional investors, and are not suitable as long-term holding instruments. Previously, Volatility Shares had launched 2x Bitcoin and Ethereum strategy ETFs in the U.S., while Europe saw the launch of the first 3x and inverse 3x Bitcoin and Ethereum ETF products last year.

Morgan Stanley significantly increased its holdings of Circle to 8.32 million shares in Q2, and added to its positions in Bitcoin and Ethereum ETFs.

Morgan Stanley’s latest 13F filing with the U.S. Securities and Exchange Commission (SEC) shows that as of June 30, it held approximately 16.5 million shares of BlackRock’s IBIT, a 23% increase from the 13.4 million shares held in the first quarter. However, due to a decline in Bitcoin prices during the quarter, the position’s market value fell to $549 million from $667 million, a roughly 18% drop. During the same period, Morgan Stanley also held 2.57 million shares of MSBT worth around $43.3 million, and increased its holdings in Grayscale Bitcoin Mini Trust, Bitwise Bitcoin ETF, and Fidelity’s FBTC, with FBTC positions rising nearly 38%. For Ethereum-related assets, its holdings of ETHA surged approximately 202% to 4.6 million shares, while its stake in Grayscale Ethereum Staking Mini ETF rose by around 26% to 5.1 million shares. Additionally, Morgan Stanley established new positions in Grayscale’s Solana Staking ETF and Fidelity’s Solana Fund, with respective market values of roughly $4.25 million and $2.26 million. In terms of individual stocks, Morgan Stanley’s holdings in Circle (CRCL) jumped from approximately 1.46 million shares to 8.32 million shares. It also expanded positions in crypto mining and infrastructure firms including Cipher Digital, Core Scientific, Hut 8, and Bitdeer. Conversely, it trimmed its Coinbase stake by around 550,000 shares, cut holdings in CleanSpark by more than 3.1 million shares, and liquidated its entire position of roughly 8 million shares in Bitfarms.

August 14 Update: #Bitcoin ETFs: 1D NetFlow: -2,015 $BTC(-$126.06M)🔴 7D NetFlow: -3,890 $BTC(-$243.38M)🔴 #Ethereum ...

August 14 Update: #Bitcoin ETFs: 1D NetFlow: -2,015 $BTC(-$126.06M)?? 7D NetFlow: -3,890 $BTC(-$243.38M)?? #Ethereum ETFs: 1D NetFlow: -277 $ETH(-$517.08K)?? 7D NetFlow: +22,908 $ETH(+$42.74M)??

JPMorgan boosted its holdings of Bitcoin and Ethereum ETFs in Q2: its stake in IBIT rose by 25%, while its position in ETHA increased more than threefold.

JPMorgan Chase’s latest 13F filing with the U.S. Securities and Exchange Commission (SEC) reveals that as of June 30, the firm held approximately 10.4 million shares of BlackRock’s IBIT—up roughly 25% from the 8.3 million shares it held in the first quarter, with a disclosed holding value of around $356 million. Over the same period, its position in BlackRock’s ETHA rose from roughly 267,000 shares to about 1.17 million shares, an increase of more than three times and exceeding four times its prior holding size. The filing also disclosed small holdings in XRP-related investment products for the first time, including 181 shares of Grayscale’s XRP product and 113 shares of Bitwise’s XRP ETF. Jonatan Randin, senior market analyst at PrimeXBT, pointed out that this 13F covers 18 investment management entities under JPMorgan, with some positions potentially linked to client trades or inventory management. Since 13F filings do not disclose short positions, it is impossible to assess JPMorgan’s net exposure or directional views on Bitcoin (BTC) and Ethereum (ETH) solely based on these long positions. Separately, JPMorgan cut its holdings in multiple Bitcoin mining companies during the second quarter. Randin noted that as some mining firms expand into AI and high-performance computing, their status as proxy assets for Bitcoin prices is weakening.

Grayscale: If the plans to reduce the token inflation rates of Ethereum (ETH) and Solana (SOL) are implemented, it could provide price support.

Grayscale Research Head Zach Pandl published a post stating that the Ethereum and Solana communities are discussing adjustments to their token economic models, with related code changes potentially lowering the annual inflation rates of ETH and SOL, thereby reducing future token supplies. Ceteris paribus, slower supply growth could provide support for token prices. Grayscale estimates that if the relevant adjustments are implemented, by the end of 2031, ETH’s annual supply inflation rate will drop to around 0.4% (close to that of BTC), while SOL’s will stand at approximately 1.1%. By comparison, gold’s annual supply growth rate is roughly 1.8%, and the U.S. CPI inflation rate is about 3.3%. Currently, the relevant proposals are still under discussion within their respective communities. Pandl noted that the Solana-related proposal appears to have broader consensus, making it more likely to be implemented. If the proposals pass, since staking rewards are primarily derived from new token issuance, the number of tokens earned by ETH and SOL stakers will decrease. Pandl pointed out that reduced supply could boost scarcity and exert upward pressure on prices, benefiting holders of unstaked ETH and SOL; whether stakers will benefit depends on the net impact between the reduction in staking rewards and the potential rise in token prices.

Yesterday, U.S. spot Bitcoin ETFs recorded a net outflow of $131.1 million, while spot Ethereum ETFs posted a net inflow of $5.9 million.

According to Farside's monitoring, U.S. spot Bitcoin ETFs posted a net outflow of $131.1 million yesterday, marking their second consecutive trading day of net outflows. Meanwhile, U.S. spot Ethereum ETFs recorded a net inflow of $5.9 million, their second straight trading day of net inflows.

Ethereum Foundation abandons the Poseidon hash algorithm, shifting to SHA-2 or BLAKE2 to advance its post-quantum cryptography roadmap.

Ethereum Foundation core researcher Justin Drake announced in a post that Ethereum Layer 1 (L1) will abandon Poseidon, the SNARK-friendly hash function that has been dominant since 2019, in favor of traditional hash functions such as SHA2 or BLAKE2s. This reversal stems from a breakthrough in SNARK design, centered on "hash-friendly SNARKs" rather than the prior approach of "SNARK-friendly hashes". By natively aligning Boolean operations in traditional hashes with binary fields, proof performance for traditional hash calls in SNARKs has reached 1 million per second, with overhead of just around 100x—a stark contrast to the previously extremely expensive operations in large prime fields. Drake dubbed this "science-fiction-level cryptography" and named contributors to key research breakthroughs including Binius and Flock. The shift will push Ethereum’s hash-based cryptography to the peak of minimal assumptions, while drastically accelerating deployment: there is no need to wait for years of cryptanalysis maturity for Poseidon. The Ethereum Foundation’s (EF) post-quantum team is advancing rapidly, with a roadmap targeting a production-grade leanVM in 2027, and deployment of the consensus, execution, and data layers in 2028. Drake also noted that AI’s enhanced cryptanalysis capabilities have recently dealt successive setbacks to lattice-based schemes (HAWK) and isogeny-based schemes (SQIsign), while hash-based schemes are emerging as the leading candidates for post-quantum signatures in blockchains. The trend of open-source automated research is also accelerating; SNARK.fast has achieved 1.8 million BLAKE3 proofs per second.

August 13 Update: #Bitcoin ETFs: 1D NetFlow: -1,132 $BTC(-$72.24M)🔴 7D NetFlow: -202 $BTC(-$12.89M)🔴 #Ethereum ETFs...

August 13 Update: #Bitcoin ETFs: 1D NetFlow: -1,132 $BTC(-$72.24M)?? 7D NetFlow: -202 $BTC(-$12.89M)?? #Ethereum ETFs: 1D NetFlow: +3,947 $ETH(+$7.47M)?? 7D NetFlow: +65,941 $ETH(+$124.71M)??