Coinbase's New Blockchain Sees Muted Inflows on Launch Day; Is a Spot Bitcoin ETF Coming?

New Blockchain sees modest inflows and do city comes to life on the small screen. You're watching Coindesk Daily, I'm your host, Jenna. The Securities and Exchange Commission plans to challenge part of a ruling in a case against ripple. Last month. A federal judge decided that while ripple's direct sales of XRP to institutional investors violated securities law. Its programmatic sales to retail investors through exchanges did not. The SEC had previously hinted that it might appeal the ruling in a separate case. Coin Base's new base Blockchain saw muted inflows on the first day after its official launch. According to Dune Analytics, just over $10 million was transferred to the new Blockchain in the past 24 hours. Coin STV caught up with the creator of Base earlier today about the debut. Let's take a listen. If you look at uh kind of the long term mission, the long term vision of coin base, we've been saying from the beginning, uh the most important thing is bringing the people into the crypto economy and the way we do that is by creating real utility. And I think we see base as a key enabler of that and So we've kind of held that vision the whole time. Uh And we're so excited to be bringing base uh to the market and to open it up for everyone. Crypto services provider matrix port predicts the SEC will likely green light several spot Bitcoin etfs in quick succession, triggering the next move higher for the world's largest digital currency. This comes as Bitcoin is trading around $29,400 following new us inflation data that was in line with economists estimates and Futurama gives viewers a glimpse into what it thinks the future of crypto could look like in its latest episode called How The West Was 1010001 by mocking crypto miners. The show also jokes about the concerns frequently raised about the immense use of electricity for mining Bitcoin. It features a crypto country called Doge City named after the popular meme coin Doge coin. That's a wrap for Coindesk Daily. You can find more updates on coindesk dot com and we'll see you next time.