As a seasoned crypto investor with a keen interest in Ethereum and its related developments, I find the recent updates on the Ethereum ETF filings and the SEC’s decision to end its investigation into Ethereum 2.0 particularly noteworthy. The fact that senior ETF analyst at Bloomberg Eric Balchunas has revealed updated S-1 documents from major players such as BlackRock, Fidelity, Grayscale, VanEck, and Franklin is a positive sign for the Ethereum community.
As a researcher, I’ve come across an intriguing piece of news from popular Chinese crypto journalist and blogger Colin Wu. He recently reported that senior Ethereum ETF analyst at Bloomberg, Eric Balchunas, has disclosed documents indicating that applicants for the spot Ethereum Exchange-Traded Funds (ETFs) have revised their S-1 filings.
Those applicants include BlackRock, Fidelity, Grayscale and VanEck giants.
Ethereum ETF filings updated
Based on the provided documents from the companies, Franklin has established a management fee of 0.19% for its Ethereum ETF, while VanEck’s fee stands at 0.2%. This information was made public on Friday.
Additionally, BlackRock, the globe’s leading asset manager, revealed that it received a $10 million investment from an unnamed major shareholder in exchange for upcoming ETF (ETHA) shares valued at the same amount.
Eric Balchunas believes that the likely date of the spot Ethereum ETF approval is July 2.
Bloomberg analyst Eric Balchunas has made available new documents from eight different companies, namely Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock, and Invesco, each of which have revised their S-1 filings in order to launch Ethereum-based exchange-traded funds (ETFs). Among these applicants, Franklin has announced a management fee of 0.19%.
— Wu Blockchain (@WuBlockchain) June 22, 2024
In January of this year, the SEC granted approval for the long-awaited Bitcoin ETF applications from those same companies. Subsequently, these ETFs initiated significant daily purchases of Bitcoin once they became available for trading.
BTC ETF outflows rise to major negative record
Expert: The @spotonchain Analytics X account announced another day of Bitcoin ETF outflows based on their latest tweet. It indicated that these ETFs have experienced net redemptions throughout the entire previous trading week.
On Friday, there was a total outflow of approximately $579 million from Bitcoin-linked exchange-traded funds (ETFs). Grayscale experienced a withdrawal of around $34.2 million, while BlackRock’s IBIT ETF had no new investments or withdrawals that day.
Despite the information from Lookonchain, BlackRock received 23 bitcoins, while Invesco Galaxy Bitcoin ETF gained 229 bitcoins. According to this source, Fidelity and Bitwise experienced outflows of 787 bitcoins and 485 bitcoins, respectively.
June 21 Update:
— Lookonchain (@lookonchain) June 21, 2024
Ethereum scores victory against SEC
I’m thrilled to share some good news with you as an Ethereum investor. According to U.Today, Consensys recently announced that the Securities and Exchange Commission (SEC) has concluded its investigation into Ethereum 2.0. This is a significant achievement for the Ethereum team and ETH holders since the SEC determined that there isn’t enough evidence to classify ETH as a security.
This propelled the ETH price up by approximately 5%, as the coin’s price soared above $3,500.
Thursdays saw Ethereum, the second largest cryptocurrency, crossing the $3,600 mark. Yet, over the subsequent period, its value took a dive, dropping to $3,486 as of now.
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2024-06-22 13:21