Most of the Ether ETF issuers are removing the staking feature from their application as having it would conflict with the SEC’s securities laws.
The DTCC is a major provider of post-trade financial services, which lists both active and pending ETFs on its site.
On Monday, the SEC requested for updates to 19b-4 filings for spot Ether ETFs.
Market analysts say that if the US SEC approves spot Ethereum ETF this week, ETH price can rally 75% from the current levels by July 2024.
Hayes noted that the dollar-yen exchange rate is a core part of the power struggle, which he believes is the most important global economic variable.
The open interest for the monthly expiry of Ethereum options has surged to $3.2 billion with the call-to-put ratio favouring the buy options.
Despite this positive trend, overall flows for these ETFs remain below their March peak.
In order to launch Ethereum ETFs on Wall Street, the SEC must approve two crucial elements: the 19b-4 filings and the S-1 registration statements.
There’s an ongoing investigation into Ether’s status as a potential security.
Grayscale’s Bitcoin Investment Trust (GBTC) witnessed the first net inflow of $4.64 million since its conversion in January after it had experienced huge net outflows.
The performance of these Hong Kong-based ETFs has been disappointing compared to the success of the US-based spot ETFs, which hold $55 billion in total value.
Coinbase stock came under strong selling pressure on Thursday, as giant CME Group announced its plans to offer spot Bitcoin trading. This regulated platform could provide tough competition to Coinbase amid its ongoing SEC battle.
Under the collaboration with OpenAI, which contributed to the RDDT surge on Thursday, Reddit said it had selected the company as its advertising partner.
Dogecoin founder Billy Markus said that SEC has lost its integrity, and any positive outcomes are unlikely until its integrity is restored.
Lower-than-expected April CPI data (0.3%) boosts markets on hope of Fed rate cuts and increased liquidity.