If all these processes go as planned, the anticipated spot Ethereum ETF could start trading three days after the final versions of these S-1 filings.
In all of this, the strategic timing of Genesis’ plans has come up as noteworthy.
Bitcoin (BTC) price must defend the support level of around $60K in the coming weeks to avoid further crypto capitulation.
Hashdex submitted an application for the product on June 18, 2024, seeking to be the first to offer a combined spot Bitcoin and Ether ETF in the United States.
The HashKey team will distribute 10 million HSK tokens via the DejenDog Telegram bot, with a listing scheduled for the third quarter of 2024.
According to the Gemini report, if the Ether/Bitcoin ratio returns to its median value from the past three years, Ether could see a rally of almost 20% to 0.067.
This shift suggests that investors are increasingly opting to hold onto their crypto assets rather than selling them, a potential sign of growing market stability.
None of the US-based spot Bitcoin ETFs registered negative cash flow on Monday as BTC price attempts to regain bullish momentum.
Historically, after every downtrend in June, Bitcoin price has demonstrated an average return of 7.98% and a median return of 9.60% during July.
Although the intakes are currently happening at a much slower rate than before, these ETFs have still impressed so far.
A filing does not guarantee that the SEC would approve such a product that is tied to Solana, despite SOL being the fifth largest digital asset by market capitalization.
Coinbase has a long history of fighting legal issues in the United States, being the firm crypto exchange to be publicly listed in the country.
Bitcoin price has established a robust support level between $60K and $61K, despite the accelerated selling pressure led by the US and the German government.
The effect of spot ETH ETFs on the price of Ether would be relatively smaller as compared to the approval of spot Bitcoin ETFs on BTC.
LDO price jumped significantly after Jump Crypto’s president announced his departure from the Chicago-based Web3 firm. Notably, a few members of the digital asset community were ecstatic that the executive decided to leave the firm.