Gate Daily (August 19): Ethereum ETF sets a historical record; SEC delays Truth Social approval decision; Bitmine stock price in trouble.

Bitcoin (BTC) prices further pulled back, temporarily reporting around $115,960 on August 19. Last week, Ethereum ETF set a record for inflows, with crypto assets inflow reaching as high as $3.75 billion. The SEC has postponed the decision on Truth Social Bitcoin and Ethereum ETFs to October 8, dampening the buying momentum for crypto assets. BitMine is currently the world's largest Ethereum holder, but the big dump in its stock price highlights that betting on crypto assets does not always lead to quick profits for listed companies.

Today's Outlook

1. Canada July Core Consumer Price Index - Common Index (Year-on-Year), Previous Value was 2.6%

2. Canada July Consumer Price Index (year-on-year), previous value was 1.9%

3. U.S. July Housing Starts (Annualized Monthly Rate), Previous Value 4.6%

Macro Events & Coin Circle Hotspots

1. Last week, crypto assets investment products saw a strong inflow again, primarily driven by Ethereum exchange-traded products (ETPs). European crypto assets management company CoinShares reported that as of the trading week ending August 15, global crypto ETP inflows reached $3.75 billion. Bitcoin failed to drive a significant rise in ETPs last week, with total inflows of $552 million, accounting for about 15% of the weekly total inflow. Ethereum had the largest gain last week, with total inflows of $2.9 billion, marking a growing interest among investors in altcoin ETPs.

2. The SEC has postponed its decision on the Truth Social Bitcoin and Ethereum ETFs until October 8, and has also routinely delayed the approval of the CoinShares Litecoin ETF, CoinShares XRP ETF, and 21Shares Core XRP ETF this week, along with the related XRP trust and 21Shares Core Ethereum ETF approvals. The SEC stated that it needs more time to review the proposed rule changes and related issues.

3. BitMine Immersion Technologies is making a strong entry into the Ethereum space, but its stock price has not risen as a result. According to data from Google Finance, its stock price has fallen by 14% over the past week. BitMine is currently the largest holder of Ethereum in the world, but the big dump in its stock price highlights that betting on Crypto Assets is not always a quick profit for publicly traded companies. Nevertheless, the company is still doubling down on its bets. Chairman Tom Lee stated that this strategy is partly driven by institutional demand. Last week, BitMine announced plans to raise $24.5 billion to expand its Ether holdings. Demand for Ethereum ETFs is strong, with inflows reaching $2.8 billion last week, totaling over $11 billion year-to-date.

Market Trend

1、$BTC price further retraced, currently reported at around 115,960 USD, with a liquidation of 124 million USD in the past 24 hours, mainly from long positions;

2. As U.S. President Trump, the President of Ukraine, and European leaders engage in talks, the U.S. stock market closed with little change on August 18, as investors await a large batch of retail earnings reports and the central bank's annual meeting this week. The Dow Jones Industrial Average fell 34.30 points, a decrease of less than 0.1%, closing at 44,911.82 points; the S&P 500 index dropped 0.65 points, a decline of only 0.01%, closing at 6,449.15 points; the Nasdaq Composite Index rose 6.80 points, an increase of 0.03%, closing at 21,629.77 points; the Philadelphia Semiconductor Index increased by 0.4%;

3. In the Gate BTC/USDT liquidation map, based on the current 116,221.40 USDT, if it falls to around 113,982 USD, the cumulative long position liquidation amount exceeds 942 million USD; if it rises to around 117,419 USD, the cumulative short position liquidation amount exceeds 365 million USD. The liquidation amount for the bears is significantly lower than that for the bulls, so it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

4. In the past 24 hours, BTC spot inflow was $2.17 billion, outflow was $2.59 billion, with a net outflow of $420 million.

5. In the past 24 hours, contracts such as $BTC, $ETH, $SOL, $XRP, and $DOGE have seen net outflows, indicating trading opportunities.

News Dynamics

1. Chamath Palihapitiya returns to the SPAC market, plans to raise $250 million.

2. The SEC has once again postponed the review of Truth Social and several Crypto Assets ETFs.

3. Injective launches the first on-chain NVIDIA H100 GPU derivatives market

4. Greeks Live: Approximately 880,000 Ether will exit staking this week until the end of the month, potentially bringing a selling pressure of 2 billion dollars every week.

5, among the top 25 stocks in U.S. stock liquidity over the past 5 days, 5 are involved in the Crypto Assets field, including Strategy, BitMine, etc.

6. Volkswagen Singapore collaborates with FOMO Pay to support digital currency payments, allowing the use of BTC, ETH, and stablecoins for vehicle and service fees.

7, over 24,800 ETH transferred from Cumberland to CEX, valued at approximately 107 million USD.

8. The stock code of ETHZilla has changed from "ATNF" to "ETHZ", with a total holding of 94,675 ETH.

9. The AI compliance platform IVIX, which combats encryption financial crimes, has completed a $60 million Series B funding round, led by OGVP.

10. Global listed companies added a net of 280 million dollars in Bitcoin last week, bringing their total holdings to 714,000 coins.

11. Strategy increased 430 BTC, total holdings exceed 629,000 coins.

12. BitMine's Crypto Assets holdings exceed $6.612 billion, including 1.52 million Ether and 192 BTC.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): "Today's assignment difficulty is still somewhat high. Since this morning, as A-shares have risen, BTC has started to fall. However, the decline in the US stock market seems less significant. I have checked a lot of data and have not found a clear reason for the drop. After all, the US stock market and Bitcoin are still highly correlated; unless there is a significant drop in the US stock market, the correlation with the US market should not be large. This time, even Buffett did not have a significant reaction. Because I haven't seen any actual bearish sentiment, I not only did not exit my long position but also added to my position, increasing from the previous $117,300 to $116,000, as I believe the fundamental market situation has not changed. The US stock market showed very slight fluctuations in the three major indices just before the close, and Trump has been focusing on his main tasks over the past two days."

"In simple terms, the core of today's discussion is the realistic exploration of territorial concessions and security assurances. The US and Europe have proposed moderate suggestions, but it is still required for Zelensky to bring back counter-offers domestically, with the issue of constitutional referendums seen as something Ukraine must manage. Security commitments are viewed as crucial by Europe, while the US hopes to establish a consensus on principles and legislate protections to ensure effectiveness across administrations. The anticipated timeline is weeks rather than months. The overall goal is to demonstrate the unity of the US, Europe, and Ukraine, and to leave a clear path for the next round of negotiations. Furthermore, although the Russia-Ukraine conflict is relatively complex, it has not fundamentally affected the US economy and inflation, or the market has already anticipated that a complete ceasefire may be difficult to achieve in the short term."

"Looking back at the data for Bitcoin, today's turnover rate is quite high, but mainly the investors who bought in at the bottom last week are trading. On the contrary, earlier investors have not changed much and are still maintaining a wait-and-see attitude. The trading volume for spot and ETF is also not high, and there is no obvious panic. Let's see if the market can self-correct in the next two days. There's not much else to say, although the price has fallen today, the support at $115,000 is still quite good. The consensus among investors is gradually improving, and the two major support levels have not been touched. A large number of investors continue to gather around $117,000, making it highly probable that this position will form a new support."