Welcome to Finance Redefined, your weekly dose of essential decentralized finance insights — a newsletter crafted to bring you the most significant developments from the past week.
This week marked another historic milestone for the crypto industry. On July 23, the first spot Ether (ETH) exchange-traded funds (ETFs) launched for trading in the United States.
The debut of spot ETH ETFs was accompanied by other key developments, such as blockchain intelligence firm Nansen launching the first Ether ETF dashboard to create more transparency around institutional inflows.
In other news, venture capitalist (VC) interest is finally returning to Web3 as institutional investors seek out the next big blockchain startup.
Galaxy Asset Management raises $113 million for new crypto venture
Galaxy Asset Management raised $113 million for a new crypto venture fund that could bring significant new capital for cryptocurrency startups building new use cases.
Billionaire Michael Novogratz’s new venture will invest in early-stage crypto startups, mainly focused on cryptocurrency software, infrastructure and financial applications.
The new fund, called Galaxy Ventures Fund I LP, aims to initially invest in 30 companies and will continue raising funds until it reaches the $150 million target, which is expected to happen by 2025 at the latest, according to a statement shared with Bloomberg.
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Nansen launches industry-first Ether ETF analytics dashboard
Nansen, a popular blockchain analytics provider, has launched the industry’s first Ether ETF analytics dashboard.
The free-to-use dashboard will track the performance of the highly-anticipated United States-based spot Ether ETFs, offering a real-time overview of the most critical data for traders, such as an interactive ETF flow chart and total ETF issuer balances.
The approval of the Ether ETFs marks a significant milestone for the industry, wrote Nansen CEO Alex Svanevik in an announcement shared with Cointelegraph:
“We’re thrilled to launch our ETH ETF dashboard, showcasing how Nansen empowers investors with real-time insights. As the first of its kind, it provides…
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