Bitcoin is trading around $109,135, down 0.51%, while Ethereum $ETH is at $2,557, down 1.38%. The global crypto market cap stands at $3.29 trillion. Bitcoin supply on exchanges has dropped to 14.5%, a seven-year low, suggesting reduced selling pressure.
ETF and Institutional Developments: The SEC approved Grayscale’s Digital Large Cap Fund as a spot crypto ETF, covering assets like $BTC Bitcoin, Ethereum$ETH , Solana, XRP, and Cardano. The REX-Osprey Solana + Staking ETF launched as the first U.S. crypto staking ETF. Bitwise’s NEAR Staking ETP also gained traction, boosting NEAR Protocol’s price by 7.6%.
Corporate and Exchange News: Coinbase’s stock surged 43% in June, driven by stablecoin advancements and the GENIUS Act. Kraken received a MiCA license in Ireland, and Gemini and Coinbase are set to gain EU-wide licenses. Robinhood introduced new crypto offerings, including U.S. stock and ETF tokens in Europe.
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