Crypto industry experts believe Ethereum (ETH) spot ETFs will likely be denied approval for public trading by regulators next month. A denial would likely mean U.S. investors receive no product of the sort until December 2024 at the earliest, putting the digital currency well behind Bitcoin (BTC) in terms of adoption by Wall Street. Why...Read More
Hong Kong regulators recently approved spot Bitcoin and Ethereum exchange-traded fund applications, but Bloomberg ETF analyst Eric Balchunas predicts that the local ETF market may not perform as well as the US due to the current lack of big players and the possibility of high fees. According to Balchunas, the Hong Kong Bitcoin and Ether...Read More
The week started on a strong note, with Bitcoin rising above $66,000, a 3.02% increase over the past day owing to Hong Kong’s ETF development. With spot cryptocurrency ETFs being all the roar, Hong Kong has joined the trend by granting approval for several spot Bitcoin and Ethereum ETFs on Monday. Hong Kong Welcomes Spot...Read More
Bitwise Asset Management, a provider of cryptocurrency index funds, wants the U.S. Securities and Exchange Commission (SEC) to defer approval for a spot Ethereum Exchange-Traded Fund (ETF) until December. Bitwise Chief Investment Officer Matt Hougan told Forbes in an interview that the industry’s focus on Bitcoin-related products may hinder the necessary attention required for the...Read More
For the first time since March 15, the net aggregate flow of funds to the newly launched batch of spot BTC ETFs is positive. March 25 saw a net inflow of $15.4 million, reversing a trend that has resulted in net outflows of $887 million over the past week. While yesterday’s inflow figure is the...Read More
After a decade of waiting, rejecting, and delaying at best, the United States Securities and Exchange Commission finally greenlighted nearly a dozen spot Bitcoin ETFs at the start of 2024. Their impact on BTC’s price has been undeniable as the demand for those products among traditional investors has skyrocketed. Now that there are existing exchange-traded...Read More
On March 19, the US Securities and Exchange Commission delayed its decision on whether to approve spot Ethereum ETFs from Hashdex and Ark 21Shares. Both products have now been postponed until a final SEC decision is made in late May. The Ark 21Shares deadline is May 24, and Hashdex will get its application approved or...Read More
Asset management firm Fidelity wants traders of its proposed spot Ethereum exchange-traded fund (ETF) to be able to stake their assets upon the product’s approval. The financial giant included the request in an amendment of its November 17 application to launch a spot Ethereum ETF in the United States. Fidelity Includes Staking in ETF Proposal...Read More
Ethereum staking could present challenges for crypto asset manager Grayscale if the SEC greenlights fund conversion for ETHE as it did for GBTC. These are the findings of BitMEX research, which added that if the SEC does not allow staking, then there will be large outflows from the firm’s ETHE fund, larger than those from...Read More
Over the past weekend, the crypto market experienced a tumultuous blend of emotions, characterized by fear and greed, as Bitcoin plunged to lows of 64,500. However, it swiftly rebounded, with the leading asset surging back above the 67,000 mark. While Bitcoin has exhibited significant resilience, the same cannot be said for Ethereum. Ethereum’s Rocky Road...Read More
Paul Grewal, the Chief Legal Officer at Coinbase, has come forward to criticize a letter written by two U.S. senators urging the Securities and Exchange Commission (SEC) to impose stricter regulations on Bitcoin exchange-traded funds and refrain from approving any further cryptocurrency ETF applications. In a March 15 X thread, he challenges the assertions of...Read More
American investment management firm VanEck thinks spot Ethereum exchange-traded funds (ETFs) could become bigger than similar Bitcoin products after the United States Securities and Exchange Commission (SEC) eventually approves them in the coming months. In a recent interview, Pranav Kanade, portfolio manager of VanEck, one of the issuers of the spot Bitcoin ETFs launched in...Read More
With the ongoing frenzy surrounding spot Bitcoin ETFs propelling BTC to highs beyond $70K, Hong Kong-based entities are preparing to enter the fray with their own offerings. While the demand for ETFs offering exposure to Bitcoin for the retail crowd is soaring, a similar vehicle for Ethereum has also gained significant traction. Recent reports indicate...Read More
Since spot Bitcoin ETFs were approved in mid-January, crypto markets have surged a further 60% adding a trillion dollars to total capitalization. Bitcoin charted a new all-time high, but Ethereum did not and has been unable to overcome the $4,000 level decisively. On March 11, Fox Business correspondent Eleanor Terrett said optimism about the U.S. Securities...Read More
The introduction of spot Bitcoin ETFs has attracted a fresh influx of investors, driving a notable increase in trading volume. This trend has generated a wave of optimism that extends beyond Bitcoin itself. But this hasn’t made the launch of a spot Ethereum ETF any earlier as the US Securities and Exchange Commission (SEC) is...Read More
The United States Securities and Exchange Commission (SEC) has once more postponed its decision to approve or deny the applications for spot Ethereum exchange-traded funds (ETFs) submitted by BlackRock and Fidelity. The latest delay comes weeks after the agency greenlighted several Bitcoin ETFs that have since gained massive traction. SEC Delays Decision on Ethereum ETFs...Read More
Jake Chervinsky, Chief Legal Officer of cryptocurrency company Variant, has posted on X that he doubts the likelihood of a spot Ethereum (ETH) ETF approval this year. Chervinsky’s comments come amid a bull run in the cryptocurrency markets, and he believes such an ETF could grow the market further. SEC Faces Pressure in Ethereum ETF...Read More
Crypto fanatics eager for a market-shattering Ethereum spot ETF launch may be in for an underwhelming surprise, according to Bloomberg ETF analyst Eric Balchunas. While the recent launch of multiple Bitcoin spot ETFs in the United States has proven phenomenally successful, Balchunas claims a follow-up launch for Ethereum would be “small potatoes” compared to the...Read More
Bitwise research analyst Ryan Rasmussen projects a 50% probability of spot Ethereum ETFs receiving approval from the U.S. Securities and Exchange Commission (SEC) in May. Furthermore, he anticipates Bitcoin reaching $88,000 by the conclusion of 2024. Ethereum ETF Approval Hangs in the Balance In a recent interview on Yahoo Finance, Rasmussen emphasized that ETFs are...Read More
According to attorney Scott Johnsson, the U.S. Securities and Exchange Commission (SEC) may greenlight an Ethereum (ETH) spot ETF as soon as May 2024. Johnsson estimates that approval could be expected by mid-2025 if this timeline is unmet. Spot Ethereum ETF Approval May Follow BTC’s Timeline In his post on X, Johnsson highlighted the SEC’s...Read More
Coinbase is advocating for the Securities and Exchange Commission (SEC) to approve the listing of the Grayscale Ethereum Trust for trading. In a letter submitted in response to a proposed rule change by NYSE Arca, Coinbase expressed strong support for the listing and trading of Grayscale Ethereum Trust (ETHE) shares as an Ethereum Exchange-Traded Fund...Read More
ETH has been one of the best-performing assets lately, witnessing a remarkable surge above $2,900 as it reached its highest point in almost two years. Currently, Ethereum futures traders appear to be increasingly confident about the leading altcoin’s trajectory. This was evident by the significant surge in open interest which reached its peak to levels...Read More
ETH has been experiencing a surge alongside the overall market’s rebound, climbing nearly 20% in the last week. With a significant rise approaching $3,000, the altcoin’s price increase has been backed by substantial accumulation by whale entities. The buying spree by influential investors of the altcoin reflects the growing confidence as the industry anticipates the...Read More
Cathie Wood, founder of ARK Investment Management, has expressed skepticism regarding the Securities and Exchange Commission’s (SEC) stance on approving spot exchange-traded funds (ETFs) following cryptocurrencies beyond Bitcoin and Ethereum. Wood’s sentiment was echoed in her recent remarks on WSJ’s Take On the Week podcast: “We’d be surprised to see anything but Bitcoin and Ether...Read More
Cathie Wood’s asset manager Ark Invest wants to bake staking into its proposed Ethereum Spot ETF – a feature that could revolutionize how the product is evaluated by Wall Street. In an amended S-1 application form filed on Wednesday, Ark included a lengthy passage about what the Ethereum network is and how it stays decentralization,...Read More
The United States Securities and Exchange Commission (SEC) has again delayed its decision on whether to approve or not a joint spot Ethereum exchange-traded fund (ETF) proposed by Invesco and Galaxy Digital. This marks the second postponement after a similar delay in December and aligns with the SEC’s recent trend of pushing back deadlines for...Read More
The industry is bustling with the trading of the newly introduced spot Bitcoin ETF in the United States, yet there’s no equivalent for Ethereum. However, Jag Kooner, Bitfinex’s Head of Derivatives, suggests that the approval of a Bitcoin ETF could impact the SEC’s view on an Ethereum ETF, likely influenced by Ether’s classification as a security...Read More
The Securities and Exchange Commission (SEC) has postponed its ruling on BlackRock’s request to introduce a spot Ethereum ETF until March. As the largest fund manager globally, BlackRock submitted its application for a spot Ethereum exchange-traded fund (ETF) in November. SEC Delays Decision on BlackRock Spot Ethereum ETF According to a filing on the SEC...Read More
Hester Pierce, popularly known as “Crypto Mom,” who serves as a commissioner with the United States Securities and Exchange Commission (SEC), believes the agency would not need a lawsuit or a court ruling to approve pending spot Ethereum exchange-traded funds (ETFs) application. During an interview with community-owned crypto media outlet Coinage, Commissioner Pierce insisted the...Read More
Nine of the newly launched spot Bitcoin ETFs saw a 34% increase in trading volume on Jan. 18 compared to the previous day. “Normally, with a hyped-up launch, you see volume steadily decrease each day post-launch, rare to see it reverse back up,” observed senior ETF analyst Eric Balchunas on January 19. Eight of the...Read More
