The SEC has given the green light for spot Ethereum ETFs to commence trading on July 23.
According to Bloomberg analyst Eric Balchunas, the SEC has instructed issuers to submit the final S-1 form by Wednesday and apply for effectiveness after the market closes next Monday, allowing trading to start on Tuesday.
CoinDesk: SEC tells spot Ethereum ETF issuers that they can start trading on July 23. Bloomberg analyst Eric Balchunas said that the SEC requires them to submit the final S-1 form this Wednesday and apply for effectiveness after the close of next Monday so that they can start on…
— Wu Blockchain (@WuBlockchain) July 16, 2024
On the on-chain activity front, significant movements have been observed among major Ethereum whales. Notably, the Zircult staking top four whale, identified as 0xbec…D3Ad3, redeemed 11,966 ETH (worth $40.16 million) from Renzo 19 hours ago. Within the past hour, this whale transferred 4,966 ETH to Binance. This whale has accumulated 63,837 ETH at an average price of $3,018 between December 2023 and May 2024, with a total investment of $192 million. It still holds 54,876 ETH, with more than $100 million staked in Zircult.
Zircult 质押排行 TOP4 巨鲸 0xbec…D3Ad3 于 19 小时前收到从 Renzo 赎回的 11966 枚 $ETH （价值 4016 万美金），并在过去一小时内向 #Binance 充值了其中 4966 枚🐋
该巨鲸在 2023.12.10 – 2024.05.28 期间以均价 $3018 建仓了 63,837 枚 ETH，总价高达 1.92 亿美金，平均建仓成本… pic.twitter.com/t8jJ4l742G
— Ai 姨 (@ai_9684xtpa) July 16, 2024
Other Notable ETH Whale Transfers To Monitor
Another significant movement involved a suspected Sun Ge address, 0x435…Ef7cB, which transferred 402 ETH from HTX, valued at $1.35 million at a transfer price of $3,358. Since April 17, this address has increased its holdings to 80,716 ETH, with a total value of $270 million.
更新：疑似孙哥地址 0x435…Ef7cB 两分钟前从 #HTX 转出 402 枚 ETH，价值 135 万美金，转出价格为 $3358
该地址自 04.17 以来增持的 $ETH 数量增长至 80,716 枚，总价值 2.7 亿美金
孙哥，家急速归！⚡️ pic.twitter.com/KxrWPnMugK
— Ai 姨 (@ai_9684xtpa) July 16, 2024
Additionally, the whale identified as 0xD10…24c21 has transferred 10,284 ETH from Binance over the past three weeks and staked 16,571 ETH (worth $56.55 million) to the AO Protocol, becoming the largest individual or institutional staker. The most recent transfer occurred 15 minutes ago, involving 4,000 ETH transferred from Binance. According to the Dune dashboard by @zkayAPE, this whale’s staking amount accounts for 7.48% of the total fund pool, and it is expected to earn 13,749.6 AO tokens each month.
巨鲸 0xD10…24c21 过去三周已累计从 #Binance 转出 10284 枚 $ETH 并向 AO Protocol 质押 16571 枚 ETH（价值 5655 万美金），成为第一大个人 / 机构质押者🆒
最近一次转出是 15 分钟前，从 #Binance 转出了 4000 枚 ETH；根据 @zkayAPE 的 Dune 看板显示，目前该巨鲸的质押金额占到了总资金池的… pic.twitter.com/JfXbaNX2wW
— Ai 姨 (@ai_9684xtpa) July 16, 2024
These substantial movements indicate strong bullish sentiment and strategic positioning among Ethereum’s largest holders as the market prepares for the launch of spot Ethereum ETFs. Investors are advised to monitor these developments closely, as they could significantly impact Ethereum’s price dynamics and the broader cryptocurrency market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any stocks.
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