BlackRock's ETHA leads with $440 million as Ether ETFs stretch their inflow streak to 16 days, pushing total net assets to $20.66 billion. Spot Ethereum exchange-traded funds (ETFs) posted another strong session on Friday, drawing $452.72 million in net inflows and extending their inflow streak to 16 consecutive trading days, according to data from SoSoValue. BlackRock’s iShares Ethereum Trust (ETHA) once again dominated the charts, pulling in $440.10 million in daily net inflows. The fund now commands $10.69 billion in assets, the largest share among US Ether (ETH) ETFs. Bitwise’s ETHW followed at a distant second with $9.95 million, while Fidelity’s FETH added $7.30 million. Grayscale’s ETHE, however, continued to see redemptions, losing $23.49 million on the day and pushing its cumulative outflow to $4.29 billion, by far the largest net loss among all Ether ETF products. Read more
Ether's recent surge in social media dominance signals the potential risk for a price correction, according to Santiment. Ether’s recent price rally may be due for a cooldown, as a surge in social media mentions — reaching levels of “extreme euphoria” — points to the potential for a near term correction, according to sentiment platform Santiment. However, other indicators suggest Ether’s (ETH) rally may still have room to run, which has gained more than 50% over the past 30 days. “Social metrics are flashing warning signs. Since early May, Ethereum's price ratio against Bitcoin has surged by an incredible 70%,” Santiment said in a report on Friday. Read more
The Ripple executive says he felt really bad about the situation and "it wasn’t the authentic interaction with celebrities" that he was aiming for. Ripple’s chief technology officer David Schwartz confessed that he once faked fan questions for Black Sabbath and filtered the responses of recently deceased rock legend Ozzy Osbourne during what was meant to be an authentic Q&A with fans — an experience he now regrets. “I cheated,” Swartz said in an X post on Thursday. “To me personally, it was a failure, but to everyone else it was a success,” recalling his time at WebMaster when, as an employee, he was assigned to deliver responses to fan questions for Osbourne — who passed away on Tuesday at the age of 76 — and the other members of Black Sabbath using the company’s ConferenceRoom software. Read more
Changes to El Salvador's Bitcoin laws under the IMF agreement put the benefits of BTC even further out of reach for the average resident. El Salvador’s Bitcoin (BTC) reserve has had limited impact on the broader population, and the country’s loan agreement with the International Monetary Fund (IMF) may further complicate its Bitcoin strategy, according to Quentin Ehrenmann, general manager at My First Bitcoin, a non-governmental organization (NGO) focused on Bitcoin adoption. Ehrenmann told Reuters that repealing the Bitcoin legal tender laws under the IMF agreement has created a vacuum in public BTC education or state-led adoption initiatives. In a translated statement, he told the news outlet: The Central American country also agreed not to purchase any new BTC under the agreement, a detail that was confirmed in a recent IMF report, which contradicted claims by El Salvador’s Bitcoin Office that the country is accumulating BTC daily. Read more