The Block

Quick Take The Financial Conduct Authority fined CB Payments Limited just over 3.5 million GBP ($4.5 million).

Ark Invest offloaded 118,209 ARKB spot Bitcoin ETF shares on Wednesday, worth $7.76 million, as the investment firm rebalanced its fund weightings.It’s the first time Ark has sold shares in ARKB since the spot Bitcoin ETF launched in January.

U.S. spot Ethereum ETFs recorded $133.16 million in net outflows on Wednesday, their second day of trading.Grayscale’s ETHE experienced $326.86 million in net outflows, the only fund with outflows.

Ether’s price fell 7.9% over the past 24 hours, trading around $3,166, while the overall crypto market was down nearly 4%.Bitcoin also experienced a decrease, dropping 2.52% to trade at $64,200.The Nasdaq Composite index closed down 3.6%, marking its worst day since October 2022, while the S&P 500 index was down 2.3%, experiencing its worst day since December 2022.

Quick Take Sygnum reported reaching profitability in the first half of 2024, driven by a 500% rise in crypto derivatives trading and a more than 360% increase in loan volumes. Sygnum now holds around $4.5 billion in client assets and over $125 million in equivalent core equity capital, following a $40 million funding round at a $900 million valuation.

Hashdex filed its registration statement, also called an S-1, with the U.S. Securities and Exchange Commission on Wednesday for the Hashdex Nasdaq Crypto Index US ETF.The fund would own bitcoin and ether, but could later hold more assets depending on the regulatory landscape.

Quick Take The search interest score has skyrocketed 5x from around 19 at the start of 2024 to a peak of 100 in recent weeks, marking an all-time high. The following is an excerpt from The Block’s Data and Insights newsletter.

Spot Ethereum ETFs generated about $937 million in cumulative trading volume on Wednesday.The ETFs recorded $106.7 million in net inflows on Tuesday, their first day on the market.

U.S. spot Ethereum ETFs saw net inflows of $107 million on the first trading dayMt. Gox creditors to start receiving bitcoin and bitcoin cash from Bitstamp on ThursdayFirm behind Proton Mail unveils self-custodial Bitcoin walletThe following is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Spot Ethereum ETFs recorded $106.7 million in net inflows on Tuesday.“I think they pretty much met expectations for me,” Bloomberg Intelligence’s James Seyffart told The Block.