The Latest Breaking News from Eric Balchunas

Monochrome's IBTC has started trading on Cboe Australia and while some in the crypto community are celebrating the milestone, calling it the country's "first" spot Bitcoin ETF, an industry expert said it's Australia's second.

IBIT is now the world's largest crypto ETF after it surpassed Grayscale's GBTC, and some in the industry believe BlackRock's spot Bitcoin ETF will continue to reign supreme in the coming years.

The surprising turn of events last week when the SEC approved exchanges' filings for spot Ether ETFs has been the talk of the town in crypto circles, but the main question at this point is: when will the funds launch?

"It's one of the biggest regulatory 180s in recent SEC history," VanEck told Fortune.

Several spot Ether ETF applicants have submitted updated 19b-4 filings, suggesting that the SEC has finally provided comments on the applications and triggering a wave of optimism in the crypto industry for the funds that, unlike Bitcoin, have had a more difficult road toward approval.

The SEC appears to have made a sudden change of heart as it reportedly informed exchanges that it was leaning toward approving the much-anticipated spot Ether ETFs.

Ether passed $3,700 Monday, having been stirred by talk in the crypto industry regarding supposed progress in getting spot ETH ETFs approved.

More than 900 firms at least $100 million in size bought into spot Bitcoin ETFs.

Michael Sonnenshein spent 10 years at Grayscale. He's set to step down effective Aug. 15.

BlackRock's IBIT retains popularity both in the retail and institutional realms as it was revealed that during the 13F filing season, 414 holders disclosed they purchased the spot Bitcoin ETF.

Another financial institution has disclosed its spot Bitcoin ETF holdings, and it is massive compared to the holdings of previous companies that revealed their treasuries.