Web3đWednesday News: VanEck's Zero-Fee Ethereum ETF, Solana's Social Crypto Trading, US Bitcoin ETF Inflows, and Blast's Token Airdrop
1. VanEck Offers Zero-Fee Ethereum ETF Until 2025
2. Solana Introduces 'Blinks' and 'Actions' for Crypto Trading on Social Apps
3. US Spot Bitcoin ETFs Net $31 Million After Outflow Streak
4. Blastâs Token Airdrop â All the Details You Need
Keep reading for more insights!đ§
Happy Wednesday, crypto enthusiasts! Today, we're diving into some exciting developments in the Web3 world. From innovative financial products to groundbreaking blockchain features, there's plenty to explore. Stay tuned as we unpack these stories and provide deeper insights into the evolving Web3 landscape. Let's dive in!
1. VanEck Offers Zero-Fee Ethereum ETF Until 2025
VanEck files for a spot Ethereum ETF, waiving fees until 2025 or until assets hit $1.5B, then imposing a 0.20% fee. This initiative aims to make VanEck a leader in crypto ETF fees despite initial losses, hoping to compensate through increased DeFi volume. Analysts expect the ETF to launch on July 2. This strategic move follows Franklin Templetonâs announcement of a 0.19% fee for its Ethereum ETF. As Ethereum trades at $3,382.65, the cryptocurrency industry eagerly anticipates these developments.
Sahana Kiran
2. Solana Introduces 'Blinks' and 'Actions' for Crypto Trading on Social Apps
Solana introduces Blinks and Actions to simplify crypto trading on websites and social platforms. Developed with Dialect, these tools enable users to transact directly within familiar platforms, enhancing meme coin accessibility. Popular wallets like Phantom and Backpack support this tech, which integrates easily with developer apps. Solana, a hub for meme coins, aims to make blockchain mainstream despite skepticism. By embedding on-chain interactions in social media feeds, Solana's features promise to boost blockchain adoption and usability.
Sam Kessler
3. US Spot Bitcoin ETFs Net $31 Million After Outflow Streak
US spot Bitcoin ETFs gained $31M after a 7-day outflow streak. Fidelity's FBTC led with $49M inflows, followed by Bitwise's BITB at $15M. VanEckâs HODL saw $4M in inflows. However, Grayscaleâs GBTC experienced $30.3M in outflows, and ARKB reported $6M in net outflows. BlackRockâs IBIT and other funds from Invesco, Galaxy Digital, Valkyrie, and Franklin Templeton saw zero flows. Since debuting in January, these funds have amassed $14.42B in net inflows. Meanwhile, spot Ether ETFs are expected to launch soon, potentially drawing $15B in net inflows within 18 months.
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4. Blastâs Token Airdrop â All the Details You Need
The highly anticipated Blast airdrop is set for June 26 at 10am ET. Ethereum layer-2 network users will receive part of the 17 billion BLAST tokens based on Blast Points and Gold they've accumulated. Half of the tokens are earmarked for decentralized app users within the Blast ecosystem. ETH, WETH, or USDB holders on Blast since February are eligible. Additionally, dapp interactions and referrals can boost Blast Points. The airdrop aims to reward active community members and promote the network's growth.
Sander Lutz
As we wrap up today's journey through the world of Web3, it's clear that innovation and excitement are driving the cryptocurrency and blockchain spaces forward. From groundbreaking ETF offerings and social trading features to significant airdrops, the landscape continues to evolve rapidly. Whether you're an investor, developer, or enthusiast, staying informed and engaged is key to navigating this dynamic ecosystem. Keep exploring, learning, and adapting to the latest trends and developments. We'll continue to bring you updates and insights as the Web3 revolution unfolds. Thank you for joining us today. Until next time, stay curious and stay connected to the future of finance and technology!
