1. SEC Greenlights First Spot Ethereum ETFs, Marks Milestone for Crypto Markets
The U.S. Securities and Exchange Commission this week approved multiple spot Ethereum exchange-traded funds (ETFs), paving the way for retail investors to gain direct exposure to ETH through their brokerage accounts. Issuers such as BlackRock’s iShares, Fidelity, and Franklin Templeton received the green light, joining the handful of spot Bitcoin ETFs that debuted late last year. The SEC cited improved market surveillance mechanisms and robust anti-fraud measures as the basis for its decision. Industry participants expect ETF inflows to boost Ethereum liquidity, reduce trading spreads, and potentially drive ETH prices higher as institutional capital floods in. Critics worry about further centralization of on-chain assets under large asset managers, while proponents say approval marks a maturation point for the second-largest blockchain. (via CoinDesk)
2. Bitcoin Tops $119,000 as ETF Inflows Continue, New Cycle Highs Hit
Bitcoin surged past $119,000 for the first time since November 2021, fueled by sustained inflows into spot BTC ETFs, anticipation around the upcoming July FOMC meeting, and optimism over the broader crypto regulatory outlook. According to data aggregator CryptoCompare, spot-Bitcoin ETFs have attracted over $3 billion in net new assets since launch, with BlackRock’s IBIT product leading the pack. On-chain metrics also show long-term holders increasing their positions, while derivatives markets record record-high open interest. Traders point to dwindling sale pressure after the April halving and a weakened U.S. dollar as key catalysts. Analysts caution that swift rallies can trigger sharp corrections, but sentiment remains firmly bullish ahead of Bitcoin’s 16th anniversary of Satoshi’s white paper publication. (via CoinTelegraph)
3. EU’s MiCA Crypto Rulebook Takes Effect, Sponsors Brace for Compliance Wave
The European Union’s landmark Markets in Crypto-Assets regulation (MiCA) officially came into force on June 30. MiCA establishes uniform rules for crypto-asset issuers, stablecoin providers, and trading venues across the bloc, aiming to boost investor protection and market integrity. Key provisions include stringent capital requirements for “qualified” asset-reference tokens, clear labeling for utility tokens, and mandatory authorization for crypto exchanges. Firms now have 12–18 months to align their operations with the new regime or risk being delisted from EU markets. Industry groups applaud the regulatory clarity but warn that compliance costs may push smaller players out, consolidating market share among larger incumbents. National regulators in Germany, France, and Italy have already begun licensing applications under MiCA’s transitional framework. (via Reuters/The Block)
4. Cross-Chain Bridge Wormhole Exploit Drains $130M, White Hat Return Campaign Underway
Decentralized cross-chain bridge Wormhole suffered a major exploit yesterday when attackers manipulated the protocol’s token guardian network to mint fraudulent wrapped tokens on Ethereum, BNB Chain, and Solana. The breach drained approximately $130 million in various assets, including ETH, USDC, and SOL. Wormhole’s core team immediately paused all bridging functions and traced a portion of the stolen funds to wallets linked with a known vulnerability research group. In a surprising twist, the exploiters initiated a “white-hat return” campaign, signaling willingness to negotiate a responsible disclosure payout in exchange for a grace period to restore liquidity. Security firms PeckShield and SlowMist are assisting Wormhole in forensic analysis. Users are urged to avoid any interactions with the bridge until full audits are completed. (via Decrypt)
5. Starbucks Unveils NFT-Powered Loyalty Program on Polygon, Aims for Mass Adoption
Coffee giant Starbucks announced the launch of “Starbucks Odyssey,” a Web3 loyalty platform built on the Polygon blockchain. The program lets members earn “Journey Stamps”—NFTs that represent achievements like visiting new stores, participating in sustainability events, or trying limited-edition beverages. Stamps can be traded on Polygon-based marketplaces or burned to unlock exclusive perks, such as early access to new products, virtual coffee tastings, and in-person invite-only experiences. Starbucks says the move is designed to familiarize millions of customers with blockchain technology in a user-friendly environment, leveraging Polygon’s low gas fees and carbon-neutral commitments. Industry observers view the initiative as a bellwether for mainstream NFT adoption, testing whether gamified loyalty mechanics can drive real-world engagement. (via The Block)