Today’s Cryptocurrency Updates from TradingView News

Morningstar reports indicate that BlackRock’s iShares Ethereum Trust is nearing the significant milestone of $1 billion in total net inflows. In a bold educational initiative, the administration of El Salvador plans to provide advanced Bitcoin training for 80,000 public servants, focusing on strategic implementation and governance. Additionally, a recent transaction has shed light on a substantial sum of crypto assets, with Mt. Gox-linked wallets transferring an impressive $700 million worth of digital currency to a previously unidentified wallet. The intent behind this move—whether for creditor reimbursement or another purpose—remains uncertain.

BlackRock’s iShares Ethereum Trust on the brink of $1 billion in net inflows

The iShares Ethereum Trust, managed by BlackRock, is closing in on a major influx of capital, with nearly $1 billion in total net inflows, as reported by Morningstar. ETHA’s accumulated inflows are approximately $992 million, signaling that the milestone is imminent. Bryan Armour, director of passive strategies research at Morningstar, suggested to Cointelegraph that this threshold could be surpassed by the close of trading on August 21.

“Net assets are influenced by two primary factors: inflow volume and asset performance. Unfortunately, underwhelming performance has kept the net assets significantly lower than the cumulative inflows received by the fund,” said Armour. Despite lagging performance since these ETFs were launched, issuers report a strong institutional interest in Ethereum, with Kyle DaCruz, the director of digital assets product at VanEck, informing Cointelegraph that Ethereum’s value is “more straightforward to appraise and justify to their clients” in comparison to Bitcoin, which saw its own spot ETFs debut amid much enthusiasm in January.

El Salvador embarks on Bitcoin certification program for public workers

El Salvador’s National Bitcoin Office (ONBTC) is launching an extensive Bitcoin training and certification scheme targeting 80,000 civil servants. The program spans a 160-hour period, featuring offline accessibility and is segmented into seven modules. Each module delves into various Bitcoin-related topics, including legislative frameworks, competencies, and strategies for utilizing Bitcoin legally.

Stacy Herbert, director at ONBTC, anticipates that the training will foster substantial economic growth driven by Bitcoin in El Salvador, viewing these educational efforts as long-term investments in the country’s success through Bitcoin and technology-focused policies.

Mt. Gox disburses $700M in substantial Bitcoin transfer

The now-defunct cryptocurrency exchange, Mt. Gox, made a significant transaction, relocating approximately 12,000 Bitcoin to a new and unverified wallet address, market-footprinting its most considerable movement since late July. On August 20, at 11:39 pm UTC, it was reported that Mt. Gox distributed 12,000 Bitcoin (equivalent to $709.4 million) to a fresh address starting with “1PuQB”.

Additionally, it transferred 1,265 BTC, valued at $74.8 million, to an address beginning with “1Jbez,” which is recognized as a Mt. Gox cold wallet by Arkham Intelligence, with no subsequent activity. This substantial transaction might signal Mt. Gox’s readiness to proceed with the distribution of Bitcoin to its creditors, who have been awaiting the return of their assets since the exchange fell victim to a cyber-attack and subsequent shutdown in 2014.

However, Alex Thorn, head of research at Galaxy Digital, suggests a different interpretation, positing that only a fraction of the transferred funds—$74.5 million—is earmarked for distribution, with the remaining assets likely secured in new cold storage under the control of the estate. Regardless of the purpose, this event represents the first major Bitcoin movement from Mt. Gox since July 30, demonstrating ongoing developments in the saga of the distressed exchange.