Tag: Ether

Following SEC delays, Ark Invest and 21Shares file for spot Ether ETF

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Amid the United States Securities and Exchange Commission (SEC) delaying a decision on Ark Investment Management’s spot Bitcoin (BTC) exchange-traded fund, the firm has proposed an investment vehicle with exposure to Ether (ETH). In a Sept. 6 filing, Ark Invest and 21Shares requested the SEC approve the listing of shares of a spot ETH ETF on the Cboe BZX Exchange. The investment vehicle, called the ARK 21Shares Ethereum ETF, will have crypto exchange Coinbase act as a custodian and measure the performance of Ether based on the Chicago Mercantile Exchange…

Bitcoin Price (BTC) Little-Changed at $25.7K After FASB and Ether ETF News

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Ether price risks losing the $1.6K support as multiple ETH price metrics decline

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Ether’s price surged by 31.3% from March 10 to March 18, coinciding with the Federal Reserve’s injection of $300 billion to address the insolvency of Silicon Valley Bank. Since then, Ether’s (ETH) price has consistently maintained a daily closing price above $1,600.  However, investors are now casting doubt on Ether’s ability to sustain this support level, given the prevailing bearish sentiment in the cryptocurrency space and declining metrics on the Ethereum network. Over the past six months, the cryptocurrency sector has been plagued by negative developments. Notably, the Digital Currency Group (DCG), the…

Bitwise withdraws Bitcoin and Ether Market Cap ETF application

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In an unexpected turn of events, Bitwise submitted a request to retract its application for its Bitcoin and Ether Market Cap Weight Strategy exchange-traded fund (ETF), initially filed with the United States Securities and Exchange Commission (SEC) on Aug. 3. While market sentiment turned bullish following Grayscale’s SEC victory, Bitwise appears to be reassessing its strategy. The withdrawal of the ETF application was unexpected; however, in the filing, a statement read, “The fund seeks to provide investors with capital appreciation. There can be no assurance that the fund will achieve…

Uniswap lawsuit judge calls Ether a commodity in dismissal order

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A United States District Court judge has called Ether (ETH) a commodity in her dismissal of a class action lawsuit against the decentralized exchange Uniswap. In an Aug. 30 dismissal order of the case brought by Uniswap users who claimed they lost money due to scam tokens on the exchange — Judge Katherine Polk Failla wrote ETH and Bitcoin (BTC) were “crypto commodities.” The distinction was also part of her reasoning for dismissing the case — Failla said she wasn’t convinced by an argument that Uniswap’s token sales were subject…

HashKey to start Bitcoin and Ether retail trading in Hong Kong from Aug. 28

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Asian cryptocurrency exchange HashKey is set to start offering Bitcoin (BTC) and Ether (ETH) crypto trading services to retail customers in Hong Kong starting on Aug. 28, according to a local media report. Investors will only be allowed to invest up to 30% of their net worth into cryptocurrencies when using the platform. HashKey became the first crypto exchange in Hong Kong to get regulatory clearance to offer crypto trading services to retail traders after upgrading two major licenses issued by the country’s Securities and Futures Commission (SFC). The first…

Ether (ETH) Futures on Crypto Exchange Binance See Lowest Open Interest Since July 2022

Ether’s global estimated leverage ratio, calculated by dividing the dollar value locked in the active open perpetual futures contracts by the total number of coins held by derivatives exchanges, has declined from a multi-month high of 0.28 to 0.22. Bitcoin’s ratio has slid from 0.27 to 0.21, the lowest since May, according to data tracked by South Korea-based analytics firm CryptoQuant. Source