First Mover Americas: Investors Pile Into Bitcoin ETPs Following BlackRock ETF Filing

The latest price moves in crypto markets in context for July 19, 2023.

AccessTimeIconJul 19, 2023 at 12:01 p.m. UTC
Updated Jul 19, 2023 at 3:17 p.m. UTC

This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.

Latest Prices


Top Stories

Crypto investors have poured money into bitcoin exchange-traded products at a record pace ever since BlackRock filed for a spot-based ETF on June 15. New data from K33 Research shows the BTC-equivalent exposure of ETPs listed worldwide increased by 25,202 BTC ($757 million) to 196,824 BTC in the four weeks to July 16. That's the second-highest monthly net inflow, surpassed only by inflows seen following the launch of ProShares’ futures-based ETF and other futures-based ETFs in October 2021, according to K33 Research’s Vetle Lunde.

Societe Generale's (GLE) cryptocurrency division, SG Forge, has become the first company to receive a license to offer crypto services in France from the country's financial regulator. SG Forge is licensed to provide buying and selling, exchange and custody of digital assets as of July 18, according to the Autorité des Marchés Financiers (AMF)'s website. While dozens of crypto firms, including the world's largest cryptocurrency exchange, Binance, are registered with the AMF, SocGen's crypto division is the first to receive a license.

Messaging platform Telegram issued $270 million in bonds this week to fund its growth until "we reach the break-even point," CEO Pavel Durov announced Tuesday. The platform is not yet profitable and has rising expenses due to its "massive growth," Durov said. It’s onboarding 2.5 million new users a day and earlier this year hit 800 million monthly active users. "I personally bought about a quarter of the new Telegram bonds, investing tens of millions into Telegram's growth. This comes in addition to the hundreds of millions I spent over the last 10 years to keep Telegram operational," Durov said. The alternative messaging platform has long been a favorite among crypto enthusiasts. That's partly attributable to the company's defunct efforts to launch its own crypto token, GRAM.

Chart of the Day

  • The chart shows DeFi lender Aave's algorithmic dollar-pegged stablecoin GHO has crossed $3 million in market capitalization within four days from the launch.
  • The stablecoin can be minted by locking AAVE, ETH, USDT, USDC and DAO as collateral on Aave V3.
  • Source: DeFiLlama

- Omkar Godbole

Trending Posts

Edited by Sheldon Reback.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Omkar Godbole

Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.