Nate Geraci, president of ETF Store, said that no one can be sure when the US SEC will approve the spot Ethereum ETF registration statement, which is expected to be in the next few weeks or 2 to 3 months at most. Now it's just a matter of how long the SEC wants to delay. Former SEC Chairman Jay Clayton predicted trading could begin in July or August.
David Bailey, CEO of Bitcoin Magazine and a cryptocurrency aide of the Trump campaign, revealed that Trump asked if Bitcoin could be leveraged to solve the U.S. national debt problem. The Bitcoin Magazine team is advising Trump on developing a policy that is friendly to Bitcoin and cryptocurrencies.
The Bernstein report predicts that the total Bitcoin and Ethereum ETF market will grow to US$ 450 billion, and more than US$ 100 billion will flow into crypto ETFs in the next two years. The Bitcoin cycle high in 2025 will be US$ 150,000, and the target price by the end of this year will be US$ 90,000. Solana (SOL) could benefit from ETH ETF.
ZKasino said they are now initiating the 2-step bridge back process in which bridgers can sign up and bridge back their ETH at a 1:1 ratio. Previously, the Netherlands arrested a ZKasino Rug related 26-year-old man and seized various assets worth more than 11.4 million euros.
Grayscale survey shows that geopolitical tensions and inflation have led more and more American voters to turn to Bitcoin, with 47% of voters expecting part of their portfolio to include cryptocurrencies, up from 40% at the end of last year. Cryptocurrency has become an issue that neither party can ignore.
ENS Labs proposes to extend the Ethereum Name Service (ENS) to Layer2, and calls this work "ENSv2" to enhance scalability and reduce gas fees. However, ENS Labs has not yet selected a specific stack or Layer 2 network for migration. ENS is Vitalik's most recognized application project.
U.S. SEC Chair Gary Gensler declined on Thursday to preview his agency's decision on ether (ETH) exchange traded funds (ETFs), though he advised observers to "stay tuned." "[The] DC Circuit took a different view, and we took that into consideration and pivoted," Gensler said on Thursday.
Consensys: Today’s approval of SPOT ETH ETF signals that the SEC views that ETH is a commodity and not a security - contrary to the position it continued to take prior to the events of this week, as described in our recent lawsuit against the SEC. We are pleased to see the tremendous bipartisan Congressional effort seeking to provide clear and sensible regulation.
The reason why the SEC passes the Ethereum spot ETF is mainly due to the correlation between CME Ethereum futures and certain spot Ethereum trading platforms. Most of the SEC documents provide data evidence of high correlation, and the monitoring and sharing agreements of CME and others can help prevent fraud and manipulation.
OKX, the second largest offshore exchange, announced the withdrawal of OKX HK's VASP license application. OKX will cease to provide services to HK residents by 31 May 2024. OKX Web3 (self-hosted wallet) services are not affected and will remain available to Hong Kong users.