Steve Kurz, head of Galaxy Digital Asset Management, said the U.S. SEC could approve a spot Ethereum ETF by the end of July.

Kurz said he expects the Ethereum spot ETF could be approved "in weeks, not days," but within a month. Galaxy has been working with the U.S. SEC on the application for months, noting that the company's upcoming spot Ethereum ETF is similar to the existing spot Bitcoin ETF (BTCO). Galaxy partnered with investment management firm Invesco to create both funds.

Kurz also expressed optimism that other spot crypto ETFs besides Ethereum will be approved, saying legislation (including laws defining securities) is necessary and that this process will take place even if Biden remains president.

Chainlink has announced a partnership with Fidelity International and crypto bank Sygnum on a project focused on bringing net asset value data on-chain.

The partnership, which aims to provide transparency and accessibility to net asset value (NAV) data in tokenized assets, will make NAV data for Fidelity’s $6.9 billion institutional liquidity fund accessible on-chain in real time, according to a statement on Wednesday. Chainlink said its technology helps securely store and automatically synchronize NAV data for these tokens on the ZKsync blockchain, a member of the Chainlink SCALE initiative.

Paradigm announced the release of Reth 1.0, the first production-ready version of the Ethereum execution client written in Rust. Reth enhances Ethereum stability, improving sync time, storage, and RPC throughput. Reth can fully sync an archive node from genesis in 50 hours, while other clients take days.

Paradigm said Reth is able to efficiently utilize resources in a variety of operational settings. Its implementation was inspired by clients such as Geth, Erigon, and Akula. The upcoming Reth 1.1 release will include support for OP Stack. Paradigm is also working on support for the Pectra hard fork.

Woj, founder of Farcaster client Supercast, said Farcaster Hub operators will not receive any airdrop rewards. He criticized those who run Hubs to get airdrops, saying that this behavior undermines the network and has a negative impact on other users. Woj emphasized that Hubs should only be run if they are truly needed and can be afforded.

He also said that he was unaware of any airdrops, but believed that users who disrupt the network through spam should be banned from participating in any Farcaster-related airdrops.

Nvidia has agreed to acquire <Shoreline.io>, a startup targeting software developers, according to people familiar with the matter. The deal was recently reached and values Shoreline at about $100 million. <Shoreline.io> makes software that finds problems and incidents in computer systems and helps automate their resolution. The company was founded in 2019 by Anurag Gupta, who worked at Amazon Web Services (AWS) for many years.

An Ethereum-based exchange-traded fund (ETF) set to launch soon in the U.S. could attract $4 billion in inflows in its first five months, according to a report from crypto analytics firm K33 Research.

The firm made its predictions by comparing the asset management of existing Ethereum (ETH)-based exchange-traded products worldwide with the open interest (OI) of similar Bitcoin (BTC) products and futures contracts on the Chicago Mercantile Exchange (CME), a preferred market for institutional investors.

According to K33, Ethereum’s OI on CME currently accounts for 23% of Bitcoin’s futures, but since Ethereum futures began trading on CME in 2021, the average share of Ethereum futures has accounted for 35% of Bitcoin futures, indicating that there is a huge institutional demand for Ethereum in the United States.