Ether and trading stocks take the crypto spotlight as Congress passes historic stablecoin bill
The price of ether was last higher by 3.6% at $3,558.68, according to Coin Metrics, trading at highs not seen since January.
On Thursday, ETFs tracking the price of ether saw daily inflows top those of bitcoin ETFs for the first time ever. The funds logged $602 million in net inflows, led by BlackRock's iShares Ethereum Trust (ETHA). Bitcoin ETFs on the same day saw inflows of $522 million. A day earlier, the ETH funds saw a single-day record inflow of $726.7 million.
Stocks tied to crypto trading gained as well, with Coinbase and Robinhood each rising more than 4%. Ether treasury stock Bitmine Immersion continued its rally, jumping 12% Friday.
Meanwhile, the price of bitcoin slipped 1%. Bitcoin treasury giant Strategy, formerly MicroStrategy, fell 4% and Mara Holdings, the mining company and bitcoin proxy, hovered under the flat line.
Ether has advanced 19% this week, bringing its two week gain to about 43.6% — its strongest two-week period since August 2021. Bitcoin is down less than 1% for the week.
On Thursday, BlackRock also filed with the SEC to include staking to its ETHA ether ETF, which also boosted sentiment for crypto's second largest coin.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
a few seconds ago
- CNBC
Stock futures rise as U.S.-EU trade deal kicks off a hectic week for markets: Live updates
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 25, 2025. Jeenah Moon | Reuters U.S. equity futures rose on Sunday evening as Wall Street prepared for an especially busy week that'll bring earnings from several major tech companies, a key Federal Reserve meeting, President Donald Trump's Aug. 1 tariff deadline and key inflation data. Futures tied to the Dow Jones Industrial Average climbed 161 points, or 0.4%. S&P 500 futures were also higher by 0.3% and Nasdaq 100 futures added 0.5%. The move comes after Trump announced Sunday that the U.S. has reached an agreement with the European Union to lower tariffs to 15%. The president had previously threatened 30% tariffs on most imported goods from the U.S.'s largest trading partner. Wall Street is also coming off a winning week fueled by strong earnings and recent deals between the U.S. and other trading partners, including Japan and Indonesia. On Friday, all three of the major averages finished the day and week with gains. The blue-chip Dow climbed 208.01 points, or 0.47%, to settle at 44,901.92. The broad market S&P 500 gained 0.40% to close at 6,388.64, marking its fifth consecutive day of closing records and 14th record close of the year. The tech-heavy Nasdaq Composite rose 0.24% to 21,108.32 for its 15th record close of the year. "A healthy plethora of earnings beats, positive developments in U.S.-Japan trade relations, strong capex commentary, and a bullish "AI Action Plan" kept the enthusiasm of weeks' past stronger than ever," Nick Savone of Morgan Stanley's Institutional Equity Division said in a note over the weekend. "As we push through the bulk of S&P 500 companies still due to report, the lower bar heading into this season has admittedly kept spirits high, but stock reactions still look most principally rooted in forward guidance — especially as investors brace, time and again, for the impact of these trade headlines to flow through." The market is gearing up for the busiest week of earnings season. More than 150 companies in the S&P 500 are due to post their quarterly results, including "Magnificent Seven" names Meta Platforms and Microsoft on Wednesday, followed by Amazon and Apple on Thursday. Investors will be listening for companies' comments on AI spending for direction on whether big investments in hyperscalers this year are justified. This week, the Fed will also hold its two-day policy meeting, concluding on Wednesday. Although the central bank is expected to keep interest rates at their current target range of 4.25% to 4.5%, investors will be looking for clues about whether a rate cut could be on the table at the September meeting. Tariffs and their effect on inflation will remain in focus on Thursday as traders get the June personal consumption expenditures price (PCE) index, the Fed's preferred measure of inflation. The report is expected to show inflation rising to 2.4% from 2.3% year-over-year, according to FactSet, and to 0.31% from 0.14% on a monthly basis. Investors will also get a batch of jobs-related data this week, including the Job Openings and Labor Turnover Survey, or JOLTS, on Tuesday, ADP's private payrolls report on Wednesday, initial jobless claims Thursday and, on Friday, the critical July jobs report. Economists polled by FactSet anticipate the U.S. economy added 115,000 jobs in July, down from 147,000 in June. The unemployment rate is expected to show a slight bump to 4.2% from 4.1%.
Yahoo
28 minutes ago
- Yahoo
Both sides can claim victory in US-EU tariff deal, but devil may be in detail
After weeks of tense negotiations between their top trade officials, the EU and US have finally struck a deal - and it comes on the eve of America's latest round of tariff talks with China. Ultimately it took leaders from Washington and Brussels to sit down face to face to reach Sunday's agreement. That's something we've also seen with the other deals that President Donald Trump has struck - his personal involvement is what has pushed them over the line – even when the prospects of a breakthrough did not seem bright. This matters to both sides because so many businesses and jobs depend on what the EU calls "the world's largest bilateral trade and investment relationship". Both President Trump and European Commission President Ursula von der Leyen can paint this as something of a victory. For the EU, the tariffs could have been worse at 15%, rather than the 30% that had been threatened – although it's not as good as the UK's 10% rate. For the US that equates to the expectation of roughly $90bn (£67bn) of tariff revenue for government coffers – based on last year's trade figures - plus there's $600bn of investment now due to come into the country. A lot of other big numbers have been thrown around in terms of how much the EU will invest in the US, but the devil will be in the detail. Questions like exactly when those investments will be made, and in what areas, are for now, unanswered. This deal is being sold as a landmark moment in relations between the US and the EU. It has not been easy getting to this point. Washington and the 27-nation bloc have both played hardball and neither was ready to give in easily, which is why these talks went down to the wire. But neither side wanted these negotiations to drag on beyond the 1 August deadline. For years, the US president has railed against what he regards as Europe's unfair trade practices. The first part of that is the deficit. Last year that meant the US bought $236bn of goods more from the EU than it sold to the bloc. Trump takes the somewhat simplified view that this is American wealth needlessly leaving the country. The reality is that international trade is a more complex affair. The other complaint has been that the EU's strict regulations on everything from cars to chickens make it harder for American companies to sell their products in the EU than the other way round. When we get more details of this deal, we may know how much has been done to address that. But European Commission President Ursula von der Leyen seemed to acknowledge the need to tackle the deficit. In announcing the agreement, she said: "We have to rebalance it. We have an excellent trade relation. "It's a huge volume of trade that we have together. So we will make it more sustainable." This deal shows how serious President Trump is about renegotiating how the US, the world's biggest economy, does business with everyone else. Given the EU consists of 27 very different countries, it has seemed one of the trickier trade agreements to pull off. It comes days after the US struck another major agreement with Japan - there have also been deals with the UK, Vietnam and Indonesia. The other big ones still on the table are with the three biggest US trade partners - Mexico, Canada and China. And with the US president in a deal-making mood, there could be more positive news for the global economy over the next 48 hours. For the third time in as many months, the US and China are holding their next trade talks in Stockholm, Sweden, on Monday and Tuesday There is some expectation that higher tariffs could be suspended for another 90 days. A few days ago Trump said the US was "getting along with China very well" and implied that the major sticking point of rare earth metals exports had been overcome. With the broad outlines of an EU agreement in the hold, Washington's trade negotiators have the wind in their sails going into talks with Beijing. But China has so far taken a more uncompromising approach than other US trade partners. And if talks between the world's two biggest economies falter, global trade could still be heading for choppy waters in the months ahead. EU and US agree trade deal, with 15% tariffs for European exports to America Trump says US may not reach trade deal with Canada Philippines goods to face 19% tariff, Trump says
Yahoo
28 minutes ago
- Yahoo
Prime Minister to meet Donald Trump to discuss ceasefire in Gaza
Prime Minister Sir Keir Starmer is expected to meet US President Donald Trump to discuss a ceasefire in Gaza and an end to the war in Ukraine. On Monday, Sir Keir will travel to Scotland to meet the president on his golf course at Trump Turnberry, Girvan, Aryshire, where he has been playing golf since Saturday morning, and where he met European Commission president Ursula von der Leyen on Sunday afternoon. After a meeting, the world leaders will travel on together for a further private engagement in Aberdeen. Mr Trump will visit the UK again in September for his second state visit. On Monday, the leaders are expected to discuss progress on implementing the UK-US trade deal, hopes for a ceasefire in the Middle East and applying pressure on Vladimir Putin to end the war in Ukraine. They are also expected to talk one-on-one about advancing implementation of the landmark Economic Prosperity Deal so that citizens of both countries can benefit from boosted trade links between their two countries. The Prime Minister is also expected to welcome the president's administration working with Qatar and Egypt to bring about a ceasefire in Gaza. A spokesperson for Number 10 said it was expected they will discuss 'what more can be done to secure the ceasefire urgently, bring an end to the unspeakable suffering and starvation in Gaza and free the hostages who have been held so cruelly for so long'. The war in Ukraine will also be up for discussion with both politicians 'set to talk about their shared desire to bring an end to the barbaric war' according to Number 10, and expected to 'reflect on progress in their 50-day drive to arm Ukraine and force Putin to the negotiating table'. A spokesperson for the UK Government said: 'The UK and the US have one of the closest, most productive alliances the world has ever seen, working together to cooperate on defence, intelligence, technology and trade. 'The UK was the first country to agree a deal with the US that lowered tariffs on key sectors and has received one of the lowest reciprocal tariff rates in the world. 'Businesses in aerospace and autos are already benefiting from the strong relationship the UK has with the US and the deal agreed on May 8. 'The Government is working at pace with the US to go further to deliver benefits to working people on both sides of the Atlantic and to give UK industry the security it needs, protect vital jobs, and put more money in people's pockets through the Plan for Change.'
