Category Archives: Ethereum

SEC approves Grayscale, Proshares spot Ethereum ETFs for trading on NYSE Arca – Cointelegraph

The United States Securities and Exchange Commission (SEC) approved two spot Ethereum exchange-traded funds (ETFs) Grayscale Ethereum Mini Trust and ProShares Ethereum ETF for listing on the New York Stock Exchanges (NYSEs) Arca electronic trading platform, according to a July 17filing.

The approval of the so-called Form 19b-4 filing authorizes NYSE to facilitate trading of the funds. However, the issuers must still stand by for final comments on the ETFs respective S-1 filings before the spot products can actually commence with listing.

Grayscale is excited to share that the [SEC] has approved Grayscale Ethereum Mini Trusts (proposed ticker: ETH) Form 19b-4, a Grayscale spokesperson said in a statement. The Grayscale team continues to engage constructively with SEC staff, as we seek full regulatory approval for US spot Ethereum ETPs.

Grayscale Ethereum Mini Trust is one of two spot Ethereum ETFs that the crypto investment manager is preparing to list. In May, Grayscale received SEC approval after filing a Form 19b-4 to convert its legacy spot ETH fund, Grayscale Ethereum Trust (ETHE), into an exchange traded fund.

On July 17, Grayscale announced plans to distribute shares of the new Mini Trust to holders of the ETHE fund. The Grayscale Ethereum Trust was first launched in 2017 and was among the first institutional investment vehicles for spot Ethereum.

The SEC reportedly gave preliminary approval to at least three issuers to begin listing spot Ether ETFs as soon as July 23. A total of eight spot Ether ETFs are awaiting a final regulatory greenlight after weeks of back-and-forth dialogues with the SEC and multiple amendments to the funds' S-1 filings.

Related: 21Shares Ether ETF to waive fees for up to 6 months

The ProShares Ethereum ETF has been a relative latecomer in the race, filing its Form 19b-4 roughly three weeks after its peers had already received approval. The ProShares fund is not among the eight expected to list next week.

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SEC approves Grayscale, Proshares spot Ethereum ETFs for trading on NYSE Arca - Cointelegraph

Grayscale Ethereum ETF to Charge A Hefty 2.5% Fees, Another Blunder in Making? – CoinGape

BlackRock, Franklin, Bitwise, Invesco, Grayscale, Fidelity File Updated Spot Ethereum ETF S-1

BlackRock, Franklin, Bitwise, Invesco, Grayscale, and Fidelity have filed amended S-1 forms for their Spot Ethereum ETFs, paving the way for a possible listing next week. This is a major

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Grayscale Ethereum ETF to Charge A Hefty 2.5% Fees, Another Blunder in Making? - CoinGape

Ethereum tops $3.3K as analysts tip ETF approvals this week – Cointelegraph

The price of Ether has topped $3,300 amid anticipation that spot ETH exchange-traded funds (ETFs) could launch as soon as the end of this week.

Ether (ETH) is currently trading at $3,331 and has rallied 16% from a price of $2,909 in the last week, per TradingView data.

Nate Geraci, ETF analyst and president of The ETF Store, took to X with his forecast that the roster of eight spot ETH ETFs will have launched by the end of this week.

Welcome to spot ETH ETF approval week. Dont know anything specific, just cant come up [with] good reason for any further delay at this point, wrote Geraci in a July 14 X post.

In line with Geraci, an anonymous source close to the proceedings told Cointelegraph on July 12 that the spot ETH funds were expected to launch by the end of this week.

Several issuers including VanEck and 21Shares filed amended registrations last week in hopes of receiving the SECs final signoff to begin listing spot Ether ETFs.

Many analysts tip the launch of the ETFs as a major catalyst for the price of ETH in the coming months.

Related: Spot Bitcoin ETFs see highest flow day in over 5 weeks

Tom Dunleavy, a managing partner at crypto investment firm MV Global, told Cointelegraph that he expects the funds toattract up to $10 billion in new inflows in the months following their launch, something that will see Ether prices surge to new all-time highs by the end of this year.

Dunleavy also said, contrary to popular opinion among other ETF analysts, that Ether ETFs would be an easier sell to Wall Street compared to Bitcoin ETFs.

We believe that there will be strong buy pressure with a much more clear narrative that traditional investors can understand. ETH has cashflows. It can be described as a tech stock, the app store of crypto, or an internet bond, Dunleavy wrote in a Q2 investor note given to Cointelegraph.

He added that ETHs price action which has lagged relative to Bitcoin (BTC) for the last 18 months would rebound quickly following the launch of the funds.

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Ethereum tops $3.3K as analysts tip ETF approvals this week - Cointelegraph

Solana Price overtakes Ethereum as Bull Traders Mount $2.1B Positions – The Crypto Basic

Solana price reached $163 on Wednesday, July 17, its highest in 40 days of trading, recent capital inflows into the SOL derivatives markets suggests more upside could follow.

Solana has recently experienced notable price action driven by a combination of internal developments and external market factors. Over the past few weeks, Solanas price has climbed significantly, reflecting growing investor confidence and the networks ongoing advancements.

The first leg of the Solana market rally began in late June after news broke that two investment first, 3iQ capital in Canada and VanEck in the USA applied for spot SOL ETFs within their jurisdictions.

While the rally was initially subdued, Solana bulls eventually gained a foothold over the weekend after the US authorities published dovish Non-Farm Payrolls and Consumer Price Index (CPI) data.

Looking at the chart above, we see how solana price of solana has increased from $121 on Friday July 5, to reach a daily timeframe peak of $163.81 at the time of writing on July 17. This reflects a 35.40% rebound in Solana prices over the last 12 days of trading.

While the rest of the crypto markets have been on an uptrend this week, thanks to dovish macroeconomic speculations, Solana appears to be a standout performer. For context, Ethereum price has witnessed only a 25% upswing in the last 12 days despite enjoying a much broader media coverage since it was announced that the ETH spot ETFs would now launch on July 23.

With Solana outperforming Ethereum by nearly 10% over the past two weeks, it suggests the presence of vital internal bullish catalysts driving SOL prices.

One of the primary internal catalysts for Solanas recent price surge is the speculation that Ethereum ETFs listing could significantly increase the likelihood that Solana ETFs will follow suit in the long-run. Market data trends show that many strategic traders have moved to front-run gains from this positive narrative.

In an indication of this, Coinglass Open Interest chart below tracks the real-time changes in the value of capital activity invested into Solanas derivatives futures contracts.

Looking at the chart above, Solana open interest has now reached $2.2 billion at the time of publication on July 17. Notably this is the first time the Solana open interest has crossed the $2.2 billion threshold in 40-days dating back to June 7.

A closer look at the data shows that Solanas 35% price uptick over the last 12 days has far outpaced the growth in Open Interest, which has only increased by 22% during that period.

When an assets open interest grows faster than its price, strategic investors may interpret it as a critical bullish signal for two main reasons. Firstly, it indicates increased participation and confidence in the assets future price movements, suggesting that more investors are opening new positions. This heightened activity often reflects positive sentiment and expectations of further price increases.

Secondly, higher open interest relative to price growth can signal that traders are willing to hold their positions longer, anticipating continued bullish momentum. This commitment to maintaining positions underlines a strong belief in the assets potential and will likely contribute to a sustained Solana price uptrend as buying pressure persists ahead of the Ethereum ETF launch scheduled for July 23.

Looking at the chart above, Solana (SOL) is demonstrating a robust bullish momentum, with the price currently sitting at $159.44. The recent 35% price increase over the past 12 days, accompanied by an increase in open interest, indicates a strong buying interest and growing confidence among investors. Notably, the RSI (Relative Strength Index) is hovering around 60.01, signaling that while the asset is nearing overbought territory, there is still room for further upward movement before reaching critical levels.

One key resistance level to watch is at $154.82, which corresponds to the 0.236 Fibonacci retracement level. This level has been tested recently and broken, suggesting that Solana has the potential to continue its upward trajectory.

If the bullish momentum persists, the next significant resistance to watch will be at the psychological level of $180. This level not only represents a round number resistance but is also likely to be a critical point where profit-taking could occur.

On the downside, the primary support level is located around $101.46, which aligns with the 0.786 Fibonacci retracement level. This level has provided strong support in the past and is likely to act as a safety net in case of a pullback.

In summary, Solanas recent market dynamics suggests a bullish outlook with the next target set at $180, and an immediate support buy-wall at $140. With the current technical indicators pointing towards continued upward movement and robust investor confidence reflected in the rising open interest, Solana is well-positioned for further gains.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Solana Price overtakes Ethereum as Bull Traders Mount $2.1B Positions - The Crypto Basic

Ethereum Foundation Deposits $12M+ ETH to Kraken as Market Rebounds – The Crypto Basic

Ethereum Foundation wallets have transferred 3,631 ETH worth $12.5 million to Kraken as the market witnesses a rebound.

In a notable move during the recent market rebound, two Ethereum Foundation and ICO-related wallets transferred 3,631 ETH, valued at $12.5 million, to the Kraken exchange over the past two days.

One wallet offloaded 2,631 ETH, equivalent to $9.01 million. This wallet received its ETH from both the Ethereum Foundation and an ICO participant. Since June 8, it has deposited a substantial 17,886 ETH, worth $65 million, to centralized exchanges.

Another wallet transferred 1,000 ETH, valued at $3.46 million, to Kraken. This ETH originated from an ICO participant who received 100,000 ETH at the Ethereum genesis in 2015.

Despite these recent transactions, the Ethereum ICO participant still holds a reserve of 49,000 ETH, valued at $171 million, across four different wallets.

Recall in January, the Ethereum Foundation was reported to have sold off 700 ETH through the Cow Protocol. The proceeds, approximately $1.68 million, were converted into DAI.

While the monetary equivalent seemed small, these sell-offs, coupled with bearish market sentiment, have contributed to a gradual downward pressure on Ethereums price. The digital currency experienced a 4.09% drop in the past 24 hours, bringing its seven-day cumulative loss to 6.72%.

The foundations recent transactions were executed through a specific wallet address. The Ethereum was sold at an average price of $2,406 across three sessions of 200 ETH transfers each, with an additional 100 ETH transfer completing the latest moves.

Additionally, in February, Ethereum Foundation transferred $13.3 million worth of ETH to Kraken. This move came as Ethereums price surged above $3,300, buoyed by Jim Cramers endorsement.

The surge allowed Ethereum to reclaim several key price levels, including the significant $3,300 mark. In response, the Ethereum Foundation, which supports the Ethereum ecosystem, moved 4,000 ETH to Kraken following this price increase.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Ethereum ETFs to launch July 23, Bloomberg analyst says – Crypto Briefing

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The starting date for spot Ethereum exchange-traded fund (ETF) trading in the US is July 23rd, according to Bloomberg ETF analyst Eric Balchunas. He shared on X that the SEC is answering issuers today, asking them to return their final S-1 forms on Wednesday, July 17th.

And then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course, he added.

The Ethereum ETF issuers filed their S-1 forms on July 8th but most of them left the fees out of their forms. According to Balchunas, this is likely a strategy from the asset managers to check how competitive the funds fees are, especially BlackRocks.

Notably, the S-1 form is an initial registration required by the US Securities and Exchange Commission (SEC) before a security can be publicly traded.

As highlighted by Balchunas fellow ETF analyst James Seyffart, this could mean that the Ethereum ETFs will start trading the same week as the Bitcoin Conference, set to happen in Nashville.

The launch of the spot Ethereum ETFs is a key step for crypto adoption by mainstream investors, as it solidifies the altcoin as a sound asset among institutional investors. An estimate by Bitwise CIO predicts that these investment instruments will capture $15 billion in inflows until the end of 2025, as reported by Crypto Briefing.

Moreover, the Ethereum ETFs open the door for the approval of exchange-traded funds indexed to other crypto. VanEck and 21Shares both filed their form for the approval of the first spot Solana ETFs in the US on the last week of June.

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Ethereum ETFs to launch July 23, Bloomberg analyst says - Crypto Briefing

Ethereum surges 5% to $3,300 ahead of key ETF decision – Crypto Briefing

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The price of Ethereum has rallied 5% to over $3,300 ahead of the key spot Ethereum exchange-traded fund (ETF) decision, according to data from TradingView.

The US Securities and Exchange Commission (SEC) is expected to greenlight the launch of several spot Ethereum ETFs by the end of this month. While the specific date remains speculative, ETF experts estimate that approval will come the week of July 15.

Nate Geraci, the president of the ETF Store, reiterated his prediction that the SEC will approve the S-1 filings this week after weeks of delays following initial listing acceptance in May. He believes theres no reason for further delay because issuers are ready for launch and recent filings require minimal changes.

Welcome to spot [ETH] ETF approval week. Im calling it. Dont know anything specific, just cant come up [without] good reason for any further delay at this point. Issuers ready for launch, Geraci stated in a Sunday post.

Bloomberg ETF analysts Eric Balchunas and James Seyffart previously predicted the spot Ethereum ETFs could be approved and begin trading as soon as mid-July.

Seyffart noted that Ethereum ETF issuers have been filing their final S-1 registration statements, which is the last regulatory hurdle before approval. Balchunas said the SECs minimal feedback on these latest filings suggests they are close to being satisfied with the applications.

Matt Hougan, the Chief Investment Officer at Bitwise, confirmed that minimal amendments suggest imminent approval.

The approval of a spot Ethereum ETF is anticipated to have a major impact on the Ethereum market and the broader crypto industry. It could drive remarkable inflows of institutional and retail capital into Ethereum, potentially mirroring the success of spot Bitcoin ETFs.

In a recent report, Hougan suggested that spot Ethereum ETFs could attract $15 billion in net inflows by the end of 2025.

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Ethereum surges 5% to $3,300 ahead of key ETF decision - Crypto Briefing

Ethereum ETFs from BlackRock, VanEck, and Franklin Templeton Poised for SEC Approval on Monday – Crypto News Flash

In line with a recent update we covered, Ethereums rapid ascent suggests strong anticipation for a potential Ethereum ETF approval. BlackRock CEO Larry Finks endorsement of an Ethereum ETF highlights its importance in the journey towards tokenization.

Preliminary approval has been deemed for three of the eight asset managers by the SEC, hoping to launch exchange-traded funds tied to the spot price of ether to begin trading next Tuesday. A blockchain expert, Collin Brown, in his tweet today, shared this exciting development, where sources indicate the SEC is poised to approve Ethereum ETFs from BlackRock, VanEck, and Franklin Templeton next week.

In his view, this step could mark a significant milestone for institutional adoption of Ethereum, providing broader access and potentially boosting market liquidity.

According to SEC approval updates shared by Reuters, the approval hinges on applicants submitting final offering documents to regulators before the end of this week, the sources said. One source mentioned that all eight are expected to launch simultaneously.

The three industry sources include BlackRock (BLK.N), VanEck, and Franklin Templeton (BEN.N), among the eight asset managers whose applications are likely to be greenlit by the SEC next Monday afternoon, July 22, with trading in the products expected to begin the next day.

A senior ETF analyst for Bloomberg adds to this development, stating that he believes ETFs are likely to begin trading next Tuesday.

Hearing SEC finally got back to issuers today, asking them to return FINAL S-1s on Wednesday (including fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last-minute issues, of course!

Meanwhile, according to todays CoinMarketCap data, ETH is valued at $3,425.50, with a decrease of 1.67% in the past day and an increase of 11.63% in the past week. See ETH price chart below.

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Ethereum ETFs from BlackRock, VanEck, and Franklin Templeton Poised for SEC Approval on Monday - Crypto News Flash

21Shares Ether ETF to waive fees for up to 6 months – Cointelegraph

Asset manager 21Shares set management fees for its 21Shares Core Ethereum ETF (CETH) at 0.21% and tipped plans to waive those fees entirely for up to six months after listing, or until the fund onboards at least $500 million, according to an amended S-1 filedwith United States regulators on July 17.

Competition is heating up among the issuers of spot Ether (ETH) ETFs now that US regulators have reportedly begun giving them tentative approval to begin listing as soon as July 23. A total of eight prospective issuers are vying to list spot ETH ETFs next week.

Related: SEC has given preliminary approval to at least 3 ETH ETF issuers: Report

21Shares joins a growing list of issuers that are slashing fees to woo investors during the spot ETH funds crucial first months of launch. In a July 8 filing, VanEck revealed plans to waive the VanEck Ethereum ETFs 0.20% management fee for up to one year after listing, or until the fund onboards at least $1.5 billion in assets under management (AUM).

Filings from other ETH ETF sponsors including Franklin Templeton and BlackRock also allude to the possibility of temporary discounts.

The emerging fee war is a repeat of what happened with Bitcoin (BTC) ETFs, which were listed earlier this year. Around half of the nearly dozen BTC ETFs on the market slashed management fees or temporarily waived them entirely in a bid to draw investor fund flows away from rivals.

Analysts say the ETH ETFs could attract up to $10 billion in inflows in the months after launch and send Ether prices soaring to all-time highs by the end of the year.

The expected approval of ETH ETFs is feeding mounting speculation that additional types of crypto ETFs may soon follow. On Jan. 8, the Chicago Board Options Exchange (CBOE) filed applications to list VanEck and 21Shares proposed spot Solana ETFs on its exchange platform. US regulators are expected to make a final decision on those funds around March 2025.

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21Shares Ether ETF to waive fees for up to 6 months - Cointelegraph

Why Is The Ethereum Price Up Today? – NewsBTC

Ethereum (ETH) is up in the last 24 hours. This is thanks to a recent development suggesting that the Spot Ethereum ETFs are set to launch anytime soon. These funds are expected to positively impact ETHs price, with the second-largest crypto token poised to reach new highs.

Ethereum experienced a price surge following Bloomberg analyst Eric Balchunas revelation that the Spot Ethereum ETFs could begin trading by July 23. Balchunas mentioned in an X (formerly Twitter) post that the US Securities and Exchange Commission (SEC) has gotten back to the fund issuers and asked them to submit their final S-1 filings by July 22.

The SEC also asked them to request effectiveness on July 22 so they can launch on July 23. Therefore, the Spot Ethereum ETFs should launch by next week, provided there are no unforeseeable last-minute issues, as noted by Balchunas. The launch of the Spot Ethereum ETFs is undoubtedly bullish for ETH, giving the amount of new money set to flow into its ecosystem through these funds.

Crypto research firm K33 predicted that these Spot Ethereum ETFs could attract as much as $4.8 billion in their first five months of trading. In line with this, crypto analysts predict that Ethereum could record massive gains thanks to these inflows. Crypto analyst Linda recently predicted that the crypto token could rise to as high as $4,000 soon enough.

Other analysts, like Altcoin Sherpa, have also predicted that ETHwill hit $4,000 soon. Meanwhile, crypto analyst and trader Tyler Durden has provided a more bullish prediction for ETH, stating that the crypto token will rise to $10,000 just the way the chips have fallen.

The crypto analyst alluded to the Spot Ethereum ETFs as what will spark such a parabolic move for Ethereum. He claimed that institutional investors had put so much effort into ensuring that the Spot Ethereum ETFs were approved and that they would ensure that they made money from these funds while pumping ETHs price.

The Spot Ethereum ETFs launch is also expected to spark massive moves for other altcoins and is likely to kickstart the altcoin season. Crypto analyst Crypto Rover advised market participants to prepare accordingly, boldly asserting that altcoin season will start once the Spot Ethereum ETFs begin trading.

From a technical perspective, crypto analyst Titan of Crypto mentioned that altcoins are ready to make major moves to the upside as Bitcoins dominance drops. Crypto analyst Mikybull Crypto also stated that the macro short-term correction for altcoins is about to end, meaning that the Spot Ethereum ETFs could be the catalyst that sparks a bullish reversal.

At the time of writing, ETH is trading at around $3,300, up in the last 24 hours, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com

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Why Is The Ethereum Price Up Today? - NewsBTC