This article comes to you with the generous support of Betplay.io. Discover the excitement and rewards that await you at Betplay.io with a 100% welcome bonus and 10% weekly cashback!Crypto Market UpdateTable of ContentsMarket UpdatesMt. Gox Creditors Receive Payouts, BTC Surges to $67,800Grayscale Ethereum Trust Sees $1.5 Billion in OutflowsMichigan's State Pension Fund Invests in Bitcoin ETFNomura to Launch High-Yield Ether ETF in SeptemberRegulatory and Institutional DevelopmentsSEC Approves Grayscale's Bitcoin Mini TrustBlackRock’s Mitchnick on Spot Ethereum ETFs and Crypto MarketSolana Surpasses Binance Coin in Market CapSen. Warren Raises Concerns Over Foreign Crypto MiningCZ’s Release from Prison Postponed to September 29Crypto Exchanges and PlatformsBitFlyer Acquires FTX Japan to Enhance Custody ServicesElon Musk's X Platform Removes Crypto EmojisBase Tops Layer 2 with Over 4 Million TransactionsProduct Innovations and TechnologyLedger Launches Ledger Flex Hardware WalletNFT Marketplace Shifts with Cost-Effective MintingMt. Gox Creditors Receive Payouts, BTC Surges to $67,800Mt. Gox creditors received more payouts, with Bitstamp completing BTC distributions, though some creditors still await funds from BitGo. Bitcoin recently surged to $68,200, fueled by bullish technical trends and anticipation of a speech by pro-crypto Donald Trump. CryptoQuant's CEO reported unprecedented BTC accumulation by whales, with 358,000 BTC moved to permanent holder addresses in July, highlighting significant investor confidence. Grayscale Ethereum Trust Sees $1.5 Billion in OutflowsOn July 26, Grayscale Ethereum Trust ETF experienced over $1.5 billion in outflows, with a single-day net outflow of $356 million. Conversely, Grayscale’s Ethereum Mini Trust ETF saw a $44.9 million inflow, totaling $164 million since its launch. BlackRock’s iShares Ethereum Trust ETF attracted $87.2 million, totaling $442 million. Despite high expectations, spot Ethereum ETFs saw $341 million net outflows in the first week, largely due to Grayscale’s hefty fees. Analysts suggest a delayed surge, noting the lack of staking incentives for Ethereum ETFs compared to Bitcoin.Michigan's State Pension Fund Invests in Bitcoin ETFMichigan's state pension fund revealed a $6.6 million investment in the ARK 21Shares Bitcoin ETF, holding 110,000 shares as of June 30. This move marks Michigan as the third US state to enter the crypto ETF arena, following Wisconsin's $164 million investment. The ETF, listed on Cboe BZX Exchange, reflects growing institutional interest in cryptocurrency investments.Nomura to Launch High-Yield Ether ETF in SeptemberNomura's Laser Digital, alongside Galaxy Digital and Dinero, plans to launch a high-yield Ether ETF in September, marking a first for U.S. markets. This ETF will integrate staking features, offering institutional investors opportunities for enhanced returns through Ethereum staking, an option currently excluded in existing U.S.-issued Ether ETFs due to regulatory concerns from the SEC about staking's classification under securities laws.SEC Approves Grayscale's Bitcoin Mini TrustThe U.S. SEC has approved Grayscale's Bitcoin Mini Trust, a scaled-down version of its Grayscale Bitcoin Trust (GBTC). This approval is pending the effectiveness of its registration statement (Form S-1) for trading. The Mini Trust, symbolized as "BTC," aims to distribute new shares to GBTC shareholders, reflecting a strategic move in the evolving crypto investment landscape.BlackRock’s Mitchnick on Spot Ethereum ETFs and Crypto MarketRobert Mitchnick, Head of Digital Assets at BlackRock, expressed at the Bitcoin 2024 conference that the launch of spot Ethereum ETFs won't spark a proliferation of funds tracking other crypto assets. Mitchnick emphasized the dominance of Bitcoin and Ethereum in the market, stating that other assets lack the market cap, maturity, and liquidity to reach investible thresholds. He noted the SEC's reluctance to approve spot Ethereum ETFs and highlighted the complementary roles of Bitcoin and Ethereum as global monetary alternatives and technological platforms.Solana Surpasses Binance Coin in Market CapSolana overtook Binance Coin to become the fourth-largest crypto by market cap, driven by an 8.95% weekly gain and a 34.84% monthly increase, now trading at $186.36. VanEck hinted at a spot Solana ETF, though regulatory approval remains uncertain. Bitcoin, after a volatile week, reached a 6-week peak of $68,400. Ethereum ETFs experienced outflows but recovered, with ETH near $3,300. The total crypto market cap rose by $30 billion to nearly $2.550 trillion.Sen. Warren Raises Concerns Over Foreign Crypto MiningSen. Elizabeth Warren raised concerns that foreign adversaries exploit U.S. crypto mining operations for espionage, alleging funds are covertly funneled to China. She cited that a significant portion of U.S. crypto mines are under foreign control, posing national security risks. Meanwhile, Vice President Kamala Harris' team has taken an interest in learning about the crypto industry, reaching out to grasp its significance and understand past conversations with President Joe Biden's advisor. As the potential Democratic nominee, her stance on crypto is highly anticipated, with industry leaders speculating about a possible shift from the current administration's approach. CZ’s Release from Prison Postponed to September 29Changpeng Zhao, also known as CZ, probably won't be released from prison on August 30 as previously rumored. His actual release date has been postponed to September 29. This delay was due to legal strategies employed by his team, despite initial expectations among Binance supporters. CZ remains at the Federal Correctional Institution Lompoc II.BitFlyer Acquires FTX Japan to Enhance Custody ServicesBitFlyer has acquired FTX Japan, integrating it as a wholly-owned subsidiary following FTX's bankruptcy filing. Renamed as "new custody company," it aims to enhance crypto custody services for institutional investors in Japan. BitFlyer plans to explore offering crypto spot ETFs pending regulatory approvals, aligning with recent US developments. FTX's native token, FTT, saw a 6% price increase post-acquisition before erasing part of the gains.Elon Musk's X Platform Removes Crypto EmojisElon Musk's X platform has quietly removed automatic emojis from Bitcoin and crypto hashtags, sparking speculation among users. The change, which also affected the #MAGA emoji ahead of an event, wasn't formally announced. Previously, these emojis were introduced in 2020 on Twitter to enhance brand visibility and engagement. The MAGA token team's public reveal of their faces at the Nashville Bitcoin Conference led to an 18.31% price surge, marking a significant event in meme coin history. Base Tops Layer 2 with Over 4 Million TransactionsBase emerged as the top Layer 2 with over 4 million transactions and 1,220,883 daily active addresses, surpassing Arbitrum and Optimism. Coinbase introduced a feature enabling free USDT to USDC conversions from Tron to Base, promoting onchain payments in Los Angeles with incentives like $1 drinks and a free drink for first-time Coinbase Wallet users.Ledger Launches Ledger Flex Hardware WalletLedger has launched Ledger Flex, its latest hardware wallet featuring E Ink technology for enhanced security and user experience. Founded in 2014, Ledger has sold over six million wallets globally. Despite past controversies, including a 2020 data breach, the company continues to innovate, integrating with major crypto services and expanding its product line with devices like the $249 Ledger Flex. Top Altcoin Gainers and LosersGainers: Conflux CFX (+21.14%)Jupiter Space Station JUP (+14.30%)eCash XEC (+12.97%)Losers:Maker MKR (-4.46%)Mantle MNT (-2.25%)Flow FLOW (-2.05%) NFT Market MapNFT Marketplace Shifts with Cost-Effective MintingThe NFT marketplace is experiencing significant shifts with the introduction of cost-effective minting options and innovative reward systems. Metaplex Core has drastically reduced minting costs from 0.0220 SOL to 0.0037 SOL per NFT, making creation more accessible. Artacle, an NFT listing platform, offers a 0% commission, contrasting with OpenSea's 2.5%, allowing creators to maximize earnings. Artacle's rewards program, featuring Art Points, is gaining traction among users supporting digital art and paying royalties. Notable claims include 226,865, 58,008, and 41,834 Art Points by individual users, indicating growing engagement.This article has been refined and enhanced by ChatGPT.