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A significant development occurred regarding the United States spot Ethereum exchange-traded funds (ETFs), positioned as the biggest expectation after the spot Bitcoin ETF in cryptocurrencies, and a fee war began among the issuing institutions. Meanwhile, a massive attack took place on a cryptocurrency exchange in India. Additionally, news of a cyberattack on Mt. Gox hit the market like a bomb.
Ether ETF Issuers Set Prices
In the United States spot Ethereum ETFs sector, issuers are seen competing to gain a large market share before trading starts on July 23.
In new documents submitted to the regulatory body, it was stated that almost all Ethereum ETFs, which will start trading on July 23, will have fee reductions or waive the fee during the launch.
So far, 7 of the issuers have indicated that they will offer a temporary fee reduction during the ETF offerings. On the other hand, Grayscale Ethereum Trust (ETHE) and Invesco Galaxy Ethereum ETF did not seem to join the fee war. Meanwhile, BlackRock’s S-1 filing on July 17 announced that the fund would operate with an initial fee of 0.25% of the net asset value.
Another issuer, Franklin Templeton’s Franklin Ethereum ETF, announced that it would charge a relatively lower fee of 0.19%. The remaining issuers are targeting fees in the range of 0.20% to 0.25%.
Attack on Cryptocurrency Exchange
Web3 security firm Cyvers detected “multiple suspicious transactions” targeting WazirX’s Safe Multisig wallet on the Ethereum network earlier today.
According to a post on X, $234.9 million worth of funds in the Indian crypto exchange’s Safe Multisig wallet were believed to have been transferred to a new address and later mixed through Tornado Cash. As a result of the mentioned attacks, funds consisting of Tether, Pepe, and Gala (GALA) were reportedly already shifted to Ethereum.
Mt. Gox and Fear of Attack
Mt. Gox creditors’ meeting points, such as a subreddit, were flooded with news of significant events in the last 24 hours. Reports of multiple login attempts on users’ accounts were highlighted, raising fears of a large-scale cyberattack.
In a subtopic known as ‘r/mtgoxinsolvency’ aimed at Mt. Gox creditors, several users shared that they had trouble accessing their accounts on the Mt. Gox website, while others shared screenshots showing login attempts by others.
Some expressed concerns that this might be part of a “brute-force” attack targeting Mt. Gox creditors, while calmer users suggested that it could just be a website error.
