Preface:
Bitcoin and Ether have fallen by 2.08% and 0.38% respectively in the past 24 hours, with the ETH/BTC exchange rate holding steady at 0.05. The crypto market Fear & Greed Index remains at 69, indicating greed.

Spot Bitcoin ETF Flows

Due to the diversion of funds to Ethereum spot ETFs, Bitcoin spot ETFs saw a net outflow of $150 million yesterday, marking the first net outflow since July 3. Grayscale’s GBTC saw a net outflow of $27 million, BITB $70 million, and ARKB $50 million. Meanwhile, Ethereum spot ETFs saw a net inflow of $106 million on their first day of trading, with a first-day trading volume exceeding $1 billion. Grayscale’s ETHE accounted for nearly half of this, with a net outflow of $484.9 million. Similar to GBTC, Grayscale plans to convert its existing Grayscale Ethereum Trust (ETHE) into an ETF, continuing with the previous fee rate of 2.5%, which leads to inevitable outflows and sell pressure like that seen after GBTC’s listing. The approval news of Ethereum spot ETFs had already triggered a “sell the news” phenomenon in May, and during the SEC’s approval period for the 19-b and S-1 application documents, the waiting time was long enough for the market to digest the impact of the ETFs. Therefore, ETH ETFs have not significantly affected ETH prices.

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Daily Spotlight

Today’s best performer is TAIKO, with a 24-hour increase of 9.4%, currently priced at $2.888 and a market cap of $177 million. Taiko is a decentralized Ethereum-equivalent (Type-1) ZK-VM and general-purpose ZK-Rollup Layer 2 network. Its goal is to enable Ethereum L1 dApp developers and users to deploy and use on Taiko without any changes or friction, maximizing Ethereum’s security while providing faster speeds and lower transaction costs compared to L1. Taiko recently announced the launch of “Trailblazers Path 5: Domain and Social” activity. This event provides opportunities to earn points, improve rankings, and secure identity on the Taiko network. Participants will receive Monk Faction badges and see their domain names in their Trailblazers profiles.

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The Word on the Street

The documentary “Vitalik: An Ethereum Story” releases its trailer, with a global premiere on September 18. On July 24, Ethereum Stories released the trailer for the documentary “Vitalik: An Ethereum Story.” The documentary took three years to film, spanning 28 cities and 15 countries, and will have its global premiere on September 18. Ethereum Stories is also hosting a 75-hour leaderboard challenge, offering rewards and points for trailer minters on ZORA.

Airdrop Tracker

Blockchain data provider Allium completes $16.5 million Series A funding round, led by Theory Ventures. Allium plans to use the newly raised funds to invest in data infrastructure, including providing a launch platform for financial institutions seeking to embrace digital assets. The company has already partnered with Stripe and Visa, with the latter helping Allium launch the Visa on-chain analytics dashboard. Its crypto-native clients include the Uniswap Foundation and major Solana wallet provider Phantom. Previously, Allium raised $5 million in seed funding from Kleiner Perkins and Amplify Partners and partnered with Visa, Wormhole, and Jito Labs.