Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.
In a significant regulatory shift, the US Securities and Exchange Commission (SEC) partially approved the long-awaited Ethereum ETF filings submitted by prominent asset managers three weeks ago, including BlackRock and Grayscale. SEC Chairman Gary Gensler has indicated that full approval for these Ethereum ETFs could come by the end of the summer, providing much-needed clarity […]
Venture capital firm Paradigm has reportedly raised $850 million for its third fund, supporting early-stage cryptocurrency initiatives led by Coinbase co-founder Fred Ehrsam and ex-Sequoia Capital partner Matt Huang. Increased Venture Capital Interest In The Industry Paradigm’s previous investments include prominent projects like decentralized exchange (DEX) Uniswap and Optimism, a scaling solution for the Ethereum blockchain. According to Bloomberg, with the capital raised in the latest funding round, Paradigm aims to contribute to early-stage crypto work and plans to prioritize such projects in the future. Related Reading: Solana On-Chain Indicators Suggests A Return Of Bullish Sentiment, Is It Time To Buy SOL? The latest fundraising comes after Paradigm’s notable achievement in 2021 when it secured a $2.5 billion fund, the largest-ever crypto investment vehicle at that time. The current surge in interest and confidence within the venture capital community towards the crypto industry has led to increased funds focused on cryptocurrency strategies. Paradigm’s fundraising success reflects the growing market appetite for crypto investments. Recent developments, such as the introduction of Bitcoin ETF and the impending approval of ETFs centered around Ethereum, have fueled the industry’s expansion. Hivemind Capital Joins Paradigm In Venture Funding Race Paradigm is not the only venture firm seeking to raise funds within the crypto space. Hivemind Capital, for instance, is actively raising a specialized $50 million non-fungible token (NFT) fund. Hack VC, which previously announced a $150 million fund, is also exploring opportunities to raise over $100 million for another investment vehicle. These initiatives highlight the increasing interest and confidence in the potential of the crypto industry from venture capitalists. While Paradigm faced criticism, including temporarily removing cryptocurrency references from its website, the firm rectified the situation and reaffirmed its commitment to the industry. Fred Ehrsam transitioned from managing partner to general partner at the firm in October, further solidifying Paradigm’s dedication to fostering crypto innovation. Despite setbacks, Paradigm continues to support crypto projects actively. Recently, the firm led an investment round in Merkle Manufactory, a company responsible for developing software infrastructure for the Farcaster social media network. The funding round valued Merkle Manufactory at approximately $1 billion, underscoring Paradigm’s ongoing belief in the potential and value of the crypto industry. Related Reading: Memecoin Fight: DADDY Surpasses MOTHER Despite Insider Trading Activity Allegations Overall, Paradigm’s successful fundraising efforts for its third fund demonstrate investors’ continued interest and confidence in supporting early-stage cryptocurrency projects. In recent months, the crypto industry has experienced a consistent outflow of funds, resulting in a decline in the total market capitalization from its yearly peak of $2.7 trillion to the current level of $2.3 trillion. The dominant cryptocurrency in the market has been the primary driver of the recent price drops. It is currently valued at $66,700 and has experienced a 3% decrease within the past 24 hours. Similarly, Ethereum has also declined, with its price dropping by 4% to approximately $3,475. Featured image from DALL-E, chart from TradingView.com
Some analysts had predicted that spot Ether ETFs could start trading on U.S. exchanges by the end of June, but the SEC has yet to set an exact date.
Following the recent price spike that brought Ethereum (ETH) close to the $4,000 mark, the second-largest cryptocurrency has experienced inflows and renewed market enthusiasm. This comes in response to the US Securities and Exchange Commission’s (SEC) approval of Ethereum ETF applications by major asset managers. Best Week For Ethereum Since March According to a report by CoinShares, digital asset investment products have witnessed a total of $2 billion inflows, contributing to a five-week consecutive run of inflows amounting to $4.3 billion. Additionally, trading volumes in exchange-traded products (ETPs) have risen to $12.8 billion for the week, a 55% increase from the previous week. Notably, inflows have been observed across various providers, indicating a turnaround in sentiment. Incumbent providers have also experienced a slowdown in outflows, reinforcing the positive market sentiment. Related Reading: Solana Searching For Direction: Will SOL Break Free Or Fall Flat? As seen in the image above, Bitcoin (BTC) continues to dominate the market, with inflows totaling $1.97 billion for the week. On the other hand, short Bitcoin products saw outflows of $5.3 million for the third consecutive week. Similarly, Ethereum has also seen a notable surge in inflows, recording its best week since March with a total of $69 million, which for CoinShares is likely a reaction to the unexpected SEC decision to allow spot-based ETFs on Ethereum. Differing Perspectives On ETH’s Price Despite the positive developments, Ethereum’s price has struggled to maintain bullish momentum, failing to retest its yearly high of $4,100 reached in March. On Friday, the price dropped as low as $3,577. However, Ethereum addresses holding more than 10,000 ETH have increased by 3% in the past three weeks, indicating a significant spike in buying pressure. Related Reading: Major Bitcoin Metric Breaks 3-Month Downtrend Amid Bullish Network Recovery Market analysts have provided differing perspectives on Ethereum’s future price action. “Trader Tank” predicts that ETH may drop to $3,500 while acknowledging the potential for a bullish reversal upon reclaiming the $3,700 level. On the other hand, crypto analyst Lark Davis highlights that Ethereum’s supply on exchanges is at an eight-year low, suggesting that the upcoming ETFs could cause a “massive supply shock” and potentially lead to a substantial increase in ETH’s price. Ultimately, as Ethereum’s price remains uncertain, market participants eagerly await the next movements in the cryptocurrency. As investors and analysts closely monitor the market dynamics, the question of whether a breakout above $4,000 or a retest of lower support levels at $3,500 awaits an answer. The second-largest cryptocurrency on the market is currently trading at $3,690, down 6.5% in the past two weeks. Featured image from DALL-E, chart from TradingView.com
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The Animoca Brands Chairman has said that Hong Kong asset managers are working to include staking in the spot ETH ETFs to get the staking feature award approved this year. Hashkey is also formulating a proposal to introduce ether staking. Blocdaemon is in talks with Hong Kong ETF issuers and custodians to explore the possibility …
According to a Bloomberg report, analysts suggest that the debut of the recently approved Ethereum ETFs in the US may generate significantly less demand than spot-Bitcoin products. Major financial institutions, including BlackRock and Fidelity, await final approvals from the Securities and Exchange Commission (SEC) to list the long-awaited Ethereum funds. However, JPMorgan strategists anticipate much […]
This decision does not affect the ongoing collaboration between 21Shares and ARK Invest on other projects like the ARK 21Shares Bitcoin ETF launched in January.
Franklin Templeton sets a 0.19% management fee for its upcoming Ethereum ETF, as SEC reviews the updated S-1 form submissions.
The post Franklin Templeton files updated S-1 form for its Ethereum ETF, discloses 0.19% fee appeared first on Crypto Briefing.
Experts say BTC and ETH derivatives will be instrumental in integrating crypto to TradFi and sending each to new all-time highs.
Vanguard keeps investments like Bitcoin and Ethereum ETFs out of its offerings. Its decision is debatable but not new.
The post Bitcoin and Ethereum ETFs still off the table for Vanguard – it’s not surprising appeared first on Crypto Briefing.
Nasdaq has withdrawn the Hashdex Ethereum ETF proposal, a move following the SEC's exclusion of the fund from recent approval.
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The post Spot Ethereum ETFs to Boost Long-Term Growth, Says Kaiko appeared first on Coinpedia Fintech News
Kaiko Research reported on May 27 that spot Ethereum ETF approvals will improve the long-term growth of Ethereum despite its short-term headwinds. Additionally, the approval will reduce regulatory uncertainty and treat ETH more as a commodity than a security. Kaiko’s Will Kai highlighted the positive regulatory implications for similar tokens. However, there may be significant …
As the US Securities and Exchange Commission (SEC) approved all the spot Ethereum ETF applications, despite increased regulatory uncertainty surrounding the cryptocurrency, investors are becoming more optimistic about the potential for ETH’s price to reach new heights. Bullish Sentiment Surrounds Ethereum ETF Approval DeFiance Capital Founder and CIO Arthur Cheong predicts that ETH could reach an annual high of $4,500 before the newly approved index funds begin trading, surpassing its mid-March high of $4,096. This projection falls just short of ETH’s all-time high of $4,878 during the 2021 bull run. In addition, a survey conducted by WuBlockchain in the Chinese community revealed that 58% of respondents believe that ETH has the potential to rise to $10,000 or even higher in this market cycle. Related Reading: Kickstarting The Bitcoin Bull Run: Expert Says $70,000 Is The Level To Beat The recent regulatory pivot by the SEC towards approving Ether ETFs has intensified bets on further price gains. In the seven days following the announcement, ETH experienced a 26% surge, marking the largest weekly advance since the 2021 crypto bull market. This development brings hope to speculators, considering the success of US spot Bitcoin ETFs, which have amassed $59 billion in assets since their record-breaking debut in January. However, spot Ethereum ETFs will not participate in staking, earning rewards by pledging tokens to maintain the Ethereum blockchain. This omission could potentially dampen interest in these funds in comparison to holding the tokens directly. Although additional SEC approvals are required before issuers such as BlackRock and Fidelity Investments can launch their products, the timeline for these releases remains uncertain. As of now, ETH is trading around $3,900, with expectations of further upside potential. Options Bets Signal Potential Climb To $5,000 According to a Bloomberg report, analysts such as Pepperstone Group Head of Research Chris Weston believe that pullbacks in ETH are buying opportunities as the risk remains skewed to the upside. Interestingly, as seen in the chart below, some traders are placing bullish options bets, with concentrations signaling a potential climb to $5,000 or more. Furthermore, ETH’s volatility, as indicated by the T3 Ether Volatility Index, is expected to be greater than that of Bitcoin, highlighting the potential for larger price swings in the second-largest digital asset. Related Reading: Ripple CTO Addresses Curious Price Link Between XRP And XLM Insights from the futures market, particularly the level of open interest in Chicago Mercantile Exchange (CME) Ethereum futures, provide evidence of institutional demand for regulated exposure to cryptocurrencies. While open interest in CME Ether futures is growing, it remains significantly lower than that of CME Bitcoin futures. This suggests relatively less institutional exposure to Ether and could potentially impact initial inflows into Ether ETFs. Nevertheless, as the approval of Ethereum ETFs opens up new avenues for investment and speculation, the market is closely watching ETH’s price performance, with bullish sentiment and optimistic predictions prevailing among investors. Featured image from Shutterstock, chart from TradingView.com
Ether price could be on track to new all-time highs, provided it can close the week above the $4,000 mark.
Ethereum exchange-traded funds (ETF) have been the talk of the town – and rightly so – after the United States Securities and Exchange Commission (SEC) approved the listing of the investment products during the week. Meanwhile, the Bitcoin spot ETF market continued its resurgence on one side, marked by a second consecutive week of positive inflows. This streak of positive inflows represents a complete shift from previous weeks when investment activity was dangerously low. However, this recent turnaround reflects a rise in investor confidence over the past two weeks. Bitcoin Spot ETF: $252 Million In Net Inflows In One Day On Friday, May 24, the US Bitcoin spot ETF market saw another day of positive inflows, marking the 10th consecutive day of significant investment into these funds. According to data from SoSoValue, the market recorded a total net inflow of approximately $252 million to close the week. Related Reading: Lido (LDO) Takes The Lead With 13% Surge Post Ethereum ETF Approval – Key Levels To Watch Breaking this down, BlackRock amassed a substantial percentage of the total daily investment, with the IBIT ETF posting an inflow of $182 million. Grayscale Bitcoin Trust (GBTC), on the other hand, did not attract any capital on Friday, ending the week with zero daily outflows and inflow. Other ETF issuers, such as Fidelity, Bitwise, and ARK Investment, also witnessed impressive inflows on Friday. Most notably, Fidelity’s FBTC came second to BlackRock’s fund after attracting about $43.7 million on the last day of the week. More importantly, this positive inflow day means that the Bitcoin spot ETF market has amassed significant investment every day for the second week in a row. And after the close of Friday’s trading session, the net inflow in the past week stood at an impressive $1.06 billion. This sustained positive trend in terms of capital inflow suggests that investor confidence in Bitcoin ETFs might be back at an all-time high. The last time there was a consistent positive capital inflow into these products, the Bitcoin price rose to a new all-time high. With Ethereum spot ETFs on the brink of trading in the US, crypto exchange-trade products seem to be in fashion at the moment. And they might just be the catalyst that the crypto market – particularly Bitcoin – needs to resume what is left of the bull cycle. Bitcoin Price At A Glance As of this writing, Bitcoin is valued at $68,868, reflecting a 2.5% price increase in the last 24 hours. According to data from CoinGecko, the premier cryptocurrency is up by 3% on the weekly timeframe. Related Reading: Bitcoin Bulls Gain Breathing Room As Long-Term Holder Activity Eases – Glassnode Featured image from iStock, chart from TradingView
The post Why Ethereum ETFs Could Spark the Next Major Altcoin Season? appeared first on Coinpedia Fintech News
News of the U.S. SEC’s approval of Ethereum ETFs set off ripples in the crypto community. At the same time, some famous crypto traders and analysts, including Ash Crypto, Sajad, and Virtual Bacon, shared their opinions regarding the implications of such a move for the wider altcoin market. Why ETH Spot ETF Approval Is Bigger …
The post Spot ETFs and Beyond: Why Ethereum is the Next Big Thing for Institutions appeared first on Coinpedia Fintech News
The recent approval of spot ETFs for Ethereum by the U.S. SEC has catalyzed a change in sentiment, setting up ETH as a potential candidate for institutional adoption. What will follow will be the doors opening to significant institutional investment in cryptocurrency, marking a vital milestone. Lindy Effect and Network Effects Ethereum is an almost …
JPMorgan predicts that the newly approved spot Ethereum exchange-traded funds (ETFs) will likely begin trading before the November US presidential elections, citing crypto’s increasing political significance. This outlook follows the US Securities and Exchange Commission’s (SEC) unexpected approval of eight spot Ethereum ETFs on May 23, marking a notable shift from the previous skepticism surrounding […]
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Ethereum’s (ETH) price has failed to make any significant rally following the Securities and Exchange Commission’s (SEC) approval of the Spot Ethereum ETFs. This is undoubtedly surprising, given that the approval was expected to spark a massive price surge for the second-largest crypto token. Why ETH’s Price Has Failed To Rally Ethereum’s price may have […]
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Following the news of the approval of Ethereum spot ETFs, Bloomberg Intelligence ETF analyst Eric Balchunas has dampened expectations. Balchunas said he expects Ethereum ETFs to gather just 10-15% of the assets Bitcoin ETFs have accumulated. Institutional Interest Remains Low for Ethereum A string of signs suggests Ethereum’s institutional interest is much weaker than Bitcoin’s. …
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Crypto prices experienced wild swings on Thursday as traders awaited the U.S. regulatory decision to list spot-based Ether ETFs. Ethereum (ETH) declined to $3,500 before surging to around $3,900, and finally stabilizing above $3,800 following the confirmation of the approval. Similarly, Bitcoin (BTC) dropped to the low $66,000s before peaking at $68,300, later stabilizing below …
BlackRock's spot Ethereum ETF, $ETHA, is now listed on DTCC following SEC's approval of multiple Ethereum ETFs.
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A bipartisan group of US lawmakers advised the Securities and Exchange Commission (SEC) in a May 22 letter to approve spot Ethereum exchange-traded funds (ETFs). The letter signatories included Financial Committee Vice Chairman Rep. French Hill, House Majority Whip Tom Emmer, and Representatives Josh Gottheimer, Mike Flood, and Wiley Nickel. Ethereum ETF In the letter […]
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Regulatory concerns force Ether ETF issuers to abandon staking plans, sparking conflicting community views and discussions on investor appeal.
The post Ethereum ETF S-1 Registration Discussions Begin: SEC Sparks Market Optimism appeared first on Coinpedia Fintech News
The SEC’s upcoming decision on the Ethereum ETF is significant. If approved, it would mean easier access, greater legitimacy, increased liquidity from institutional funds, and clearer regulations. Even if rejected, the consideration itself is positive, suggesting acceptance is on the horizon. So, it’s not a matter of ‘if’ but ‘when’. Let’s hope that ‘when’ is …
Eleanor Terrett revealed that the SEC had started discussions with Ethereum ETF issuers regarding S-1 forms on May 22.
With the SEC expected to decide by May 23 whether to approve or disapprove a spot Ether exchange-traded fund, three asset managers amended their 19b-4 filings.
The SEC’s decision on VanEck’s spot Ether ETF application is due by May 23, and experts believe the recent debate over Ether’s status as a security could hamper its chances.
The post Ethereum ETF Hopes Boost Ether Call Options appeared first on Coinpedia Fintech News
Amid renewed hope in the market over the potential Ethereum ETF approval, ether call options are now more expensive than put options for all expiries, signifying a bullish outlook. Traders are willing to pay more for calls than puts, particularly for options expiring at the end of June and beyond. This indicates a bullish market …