Spot Ethereum exchange-traded funds (ETFs) are set to start trading tomorrow, July 23, according to the Chicago Board Options Exchange (Cboe), including those from prominent financial institutions like Fidelity and VanEck.

Major Indian cryptocurrency exchange WazirX, which suffered a security breach last week that led to the theft of over $230 million in crypto assets, has filed a police complaint and is seeking assistance from various government agencies to recover the stolen funds and apprehend the culprits.

Cryptocurrency exchange Bitforex announced it will allow users to withdraw their holdings for the first time since February, following a period of inaccessibility linked to a police investigation.

Top stories in the Crypto Roundup today:

• Spot Ethereum ETFs to Debut on July 23
• WazirX Scrambles to Recover Millions After Major Security Breach
• Bitforex to Reopen Withdrawals After Months-Long Halt
• Crypto Trading Volumes Fall for Third Consecutive Month

Spot Ethereum ETFs to Debut on July 23

Spot Ethereum exchange-traded funds (ETFs) are set to start trading tomorrow, July 23, according to the Chicago Board Options Exchange (Cboe), including those from prominent financial institutions like Fidelity and VanEck.

The Cboe, where various of the proposed ETF’s will trade, revealed that various spot Ether funds including the Fidelity Ethereum Fund, the Franklin Ethereum ETF, the Invesco Galaxy Ethereum ETF, the VanEck Ethereum ETF, and the 21Shares Core Ethereum ETF are set to start trading this week.

While the Securities and Exchange Commission (SEC) approved the 19b-4 forms for these spot Ethereum ETFs in May, the registration statements for each ETF still need to take effect before the official launch.

Last week, several asset managers vying to launch these ETFs submitted their final S-1 filings with the SEC, revealing the final details of the fund structures, including their management fees.

Grayscale stands out with a 2.5% fee on its main product, significantly higher than its competitors, while its Mini Ethereum Trust is set to have a 0.25% fee, the same fee BlackRock and Fidelity will charge on their spot Ether ETFs, but above the 0.21% 21Shares will charge. Bitwise, VanEck, and Invesco Galaxy set their fees at 0.2%, while Franklin Templeton set them at 0.19%.

WazirX Scrambles to Recover Millions After Major Security Breach

Major Indian cryptocurrency exchange WazirX, which suffered a security breach last week that led to the theft of over $230 million in crypto assets, has filed a police complaint and is seeking assistance from various government agencies to recover the stolen funds and apprehend the culprits.

On the microblogging platform X, (formerly known as Twitter), WazirX revealed it reported the incident to the Indian Computer Emergency Response Team (CEERT-In) and is said to be “cooperating” with “many exchanges” to trace the stolen funds and recover customer assets.

The exchange also said it’s “collaborating with forensic experts and law enforcement agencies to identify and apprehend the perpetrators."

The next step for WazirX is likely to be the filing of a First Information Report (FIR) with local authorities, which would be prepared by the police if they determine an official investigation is necessary. Such a report, however, would also mean further scrutiny of the exchange’s operations.

The exchange also sent the Financial Intelligence Unit (FIU-India), which falls under the Finance Ministry’s purview, an incident report. The FIU is primarily tasked with monitoring transactions to prevent money laundering, and its authority may not directly extend to this specific security breach.

Bitforex to Reopen Withdrawals After Months-Long Halt

Cryptocurrency exchange Bitforex announced it will allow users to withdraw their holdings for the first time since February, following a period of inaccessibility linked to a police investigation.

In a message posted on X, Bitforex stated that its team was "detained and investigated" by Jiangsu Province police in China on February 23rd, and while it offered no specifics regarding the nature of the investigation it suggested that it resolved the situation "after persistent efforts and communication."

According to Bitforex, users will soon be able to withdraw their assets in the near future but will be unable to engage in any further trading. The announcement comes after users withdrew $53 million from the exchange on February 23 after it had stopped responding to users. The platform hadn’t been posting on social media since February 20.

Concerns surrounding Bitforex's operations further escalated in March when Hong Kong's securities regulator cautioned residents about the platform's legitimacy. Bitforex's former CEO, Jason Luo, stepped down in January, just weeks before the withdrawal freeze.

Crypto Open Interest Dropped Nearly 10% in June

Crypto open interest on derivatives exchanges dropped by 9.67% to $47.11 billion last month following a series of liquidations triggered by dropping cryptocurrency prices, from which the market has since recovered.

Nasdaq-listed exchange Coinbase saw a substantial open interest decline, seeing a 52.1% drop to $18.2 million, while leading exchange Binance maintained its position among centralized exchanges even after a 9.93% drop to $19.4 billion in open interest.

Dig deeper into the world of cryptocurrency trading with CCData’s latest Exchange Review report.

State of the Crypto by Top Tier Exchange Volume

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