Demex Daily #198: Ethereum Spot ETF Set to Launch July 23 as SEC Speeds Approval

What’s Interesting Today:

Bloomberg analyst Eric Balchunas reports that the SEC is moving towards the launch of an Ethereum spot ETF, set for July 23. The SEC has requested final S-1 applications by the upcoming Wednesday. This development follows a May 23 landmark decision approving several applicants, boosting Ethereum's price by 14% over the past two weeks. With prior Bitcoin ETF approvals leading to significant market gains, expectations are high that Ethereum could similarly reach new highs. Eight major entities, including Grayscale, BlackRock, and Fidelity, who dominate the Bitcoin ETF market, are awaiting approval for their Ethereum ETF applications.

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Plume Network, a modular EVM layer-2 platform designed for integrating real-world assets (RWAs) into the blockchain, has launched its testnet. This development is supported by underlying technology from Celestia and partnerships with entities like Supra. The network aims to bridge traditional finance and cryptocurrency, allowing for the tokenization of assets such as real estate and collectibles. Plume facilitates the deployment of various assets and markets using its compliant technology stack, catering to both crypto enthusiasts and traditional financial participants.

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