BlackRock Ethereum ETF's assets exceeded $10 billion in one year
PANews reported on July 24 that according to The Block, BlackRock's Ethereum exchange-traded fund (ETF) ETHA has exceeded $10 billion in assets under management in less than a year, becoming the third ETF in history to reach this milestone within a year. Eric Balchunas, senior analyst at Bloomberg ETF, said on the X platform that ETHA's assets jumped from $5 billion to $10 billion in just 10 days, showing the strong appeal of Ethereum among institutional investors. Data shows that on July 23, the cumulative inflows of nine tradable Ethereum funds in the United States reached $8.65 billion, while ETHA had a net inflow of $325 million on the same day. Analysts predict that ETFs and Ethereum-related companies may purchase $20 billion worth of Ethereum in the next year, further boosting market demand.
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Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle. Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more