Today marks a major milestone in cryptocurrency investing as VanEck officially filed its S-1 ETF application for Ethereum.
Although VanEck had already outlined its fee structure in previous discussions, this official filing is a procedural step that shifts responsibility back to the Securities and Exchange Commission (SEC), which must review the documents and potentially approve them.
First S-1 just rolled in today from VanEck.. they already had their fee so nothing to see here really, they just putting ball back in SEC’s court. Expecting the rest today except for Bitwise who did theirs last week. pic.twitter.com/gF6OZTKIrs
— Eric Balchunas (@EricBalchunas) July 8, 2024
The move is part of a broader wave of applications for the Ethereum ETF from various financial institutions.
Investors and market watchers are eagerly awaiting the filing of the other applications, which are expected later today, with the exception of Bitwise, which filed last week.
At the time of writing ETH is trading at $3,007 after a 10% price decline in the past 7 days.
Charles Hoskinson, the creator of Cardano, has once again taken a jab at Solana, praising the Sui network as a more promising alternative.
The Shibburn tracker, which monitors SHIB burn activities, has reported a decline in Shiba Inu’s burn rate on both daily and weekly time frames.
A recent report from digital asset bank Sygnum suggests that a rising trend could give Solana (SOL) an advantage over Ethereum (ETH) in the competitive smart contract space.
XRP is currently trading at $0.53 and has dropped nearly 15% in October, largely due to a renewed appeal by the U.S. Securities and Exchange Commission (SEC) in the ongoing lawsuit against Ripple.