Big Week for Bitcoin Spot ETFs, Meme Coin Mania Hits Celebs and More: This Week’s Crypto Roundup

The previous week was dominated by news and developments on the Ethereum ETF front, while the current week was taken over by Bitcoin exchange-traded funds.

It almost felt inevitable after the launch of all the US spot Bitcoin ETFs in early January that the BlackRock product would overtake Grayscale’s, which was actually converted from the old BTC Trust. Grayscale’s GBTC saw substantial outflows since hitting US markets, while BlackRock’s IBIT continued to attract billions of dollars from the mainstream cryptocurrency.

That moment finally came earlier this week, as it took just 96 days for the world’s largest asset manager to become the largest issuer of Bitcoin ETFs. Grayscale’s fund currently has $19.7 billion in BTC, while IBIT has $19.97, according to SoSoValue.

Another major event within the Bitcoin ETF landscape took place on Tuesday when all of these products, not just the US ones, attracted just over a million BTC.

These positive developments on the ETF front did not result in substantial gains for the underlying asset. In fact, bitcoin tried to break the $70,000 mark on a few occasions, and although it breached it once, it could not succeed and is currently about three thousand away.

The weekly charts among most altcoins are quite less intense than last time. However, some of the representatives of the meme coins have taken the main stage. PEPE, for example, hit some all-time highs this week, while WIF is up more than 20%. Also, the realm of meme coins saw the entry of a celebrity, but more on that later.

Market data

Market Cap: $2,667 | 24 Hour Flight: $80 Million | BTC Domain: 50%

BTC: $67,320 (+0.44%) | ETH: $3,773 (+2.5%) | BNB: $593 (-0.5%)

This week’s crypto headlines you can’t miss

Ethereum Whales Over 10,000 ETH Rising, Signal Accumulation Trend. While the price of ETH has been consolidating over the past week, since the massive surge on Ethereum ETF news, the asset has been targeted by large investors who have been piling .

US Bitcoin Spot ETFs See Longest Inflow Streak Since February. In addition to massive hits on the Bitcoin ETF front, these products have been on an impressive streak since mid-May. In fact, they are currently on their longest hitting streak in over three months, 13 days in a row and counting.

Caitlyn Jenner’s JENNER meme coin sends traders into a tailspin. As mentioned above, a certain celebrity entered the meme coin ecosystem. Despite initial rumors of a hack, it turns out that Caitlyn Jenner has launched a dozen meme coins on Solana’s blockchain in hopes of making a quick buck.

Most Profitable Among Big Meme Coins: Over 96% of PEPE Holders in Profit. While PEPE pulled back slightly after hitting a few consecutive all-time highs, the number of profit-taking token holders soared to a reported 96% yesterday.

Gemini Earn recovers 97% of lost crypto from customers. Good news for Gemini Earn customers: After more than a year of controversy and uncertainty, the bankrupt crypto lending arm announced that it has recovered almost all of its lost funds.

Ryan Salame, ex-executive of FTX, sentenced to 7.5 years in prison. One of the FTX executives closest to Sam Bankman-Fried, Ryan Salame, was sentenced to more than seven years in prison. Previously, Salame’s lawyers had asked for no more than 18 months.

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This week, we have a chart analysis of Ethereum, Ripple, Cardano, Shiba Inu and Polkadot – click here for the full price analysis.

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