All articles tagged with #ethereum etf
BlackRock has amended its S-1 form for a proposed spot ether ETF, revealing initial share purchases and a net asset value of $10 million. Bloomberg analyst Eric Balchunas sees a launch by the end of June as a "legit possibility." This follows the SEC's recent approval of several ether ETFs, boosting market sentiment. BlackRock's bitcoin ETF has also become the largest publicly traded bitcoin fund, surpassing Grayscale.
BlackRock, Grayscale, and Bitwise have filed amended 19b-4 forms with the SEC for their proposed spot ether ETFs, removing staking provisions to avoid regulatory issues. This move follows similar amendments by other firms like Fidelity and VanEck, and has led to increased optimism about the approval of ether ETFs, with analysts raising approval odds to 75%.
Ethereum has surged 28% this month, reaching $2,910, ahead of the upcoming Dencun upgrade aimed at improving speed and cost efficiency. Optimism for a potential Ethereum ETF approval by the SEC has also contributed to the bullish sentiment. Traders are showing increased confidence through climbing open interest in futures contracts, but caution is advised due to potential liquidation events. While trading volume has slowed, layer-2 scaling networks like Arbitrum and Optimism are experiencing record transaction totals, with the total value of assets locked on layer-2s reaching an all-time high of nearly $27 billion.
Fidelity, a major asset management firm, has filed for its own Ethereum exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). The filing aims to provide US retail investors with a regulated and low-risk avenue to gain exposure to Ethereum (ETH), as existing methods involve counter-party risk and legal uncertainty. Fidelity's filing comes shortly after BlackRock filed for its own Ethereum ETF, joining a list of firms seeking approval for an Ether ETF.
Grayscale Investments has submitted an application for an Ethereum ETF, starting a 240-day review process by the Securities and Exchange Commission (SEC). This comes as the SEC is expected to make decisions on several Bitcoin ETF applications, potentially leading to increased liquidity in the market. Grayscale has been seeking approval for a Bitcoin ETF for years and is expected to receive approval in early January, coinciding with a deadline for a Bitcoin ETF application by Ark Invest. The SEC's approval process involves two parts: one for exchanges to list crypto ETFs and another for individual companies to issue them.