Last week Ethereum ETFs went live and if it wasn’t for Grayscales ETHE spot ETF heavily skewing the flow table we would have seen consistent daily inflow totals. Blackrock’s ETHA has had hundreds of millions in-flows this week alone, followed closely by FETH by Fidelity.

Morgan Stanley is set to offer Bitcoin ETFs to Wealthy Clients starting Wednesday according to CNBC. The move comes in response to demands from its clients. Large firms like Morgan Stanley usually have lengthy review and compliance processes to complete before they approve funds to be offered to their clients, currently only clients with at least $1.5 million net worth will be offered access to the asset class.

The California Department of Motor Vehicles (DMV) announced a new partnership with Avalanche blockchain where they plan to streamline the title and registration transfer process, reducing the need for physical appointments and helping to onboard 42 million Californian drivers to the blockchain at the same time. Metal Blockchain is a fork of Avalanche, focused on onboarding financial institutions.

ETHGlobals “Superhack 2024” hackathon kicked off this morning and Metal L2 is a Gold sponsor where they will give out some prizes to those that show promise and commitment to building on The Banking Layer. Join ethglobal.tv and follow the event where over 750 hackers have entered to connect and create some exciting new projects for the Ethereum and L2 ecosystem.