🚨WORLD'S LARGEST BANK, ICBC, CALLS ETHEREUM "DIGITAL OIL"
ICBC: “Ethereum has been continuously upgrading its technology in terms of security, scalability and sustainability, providing technical power for the digital future. In addition, the introduction and development of stablecoins provide a bridge for the digital currency market to connect to the real world.” ICBC described Ethereum as the “digital oil.” Being Turing-complete and having its own programming language, Solidity, allows developers to deploy complex smart contracts and dApps. This has made Ethereum the mainstay in inventive new fields such as NFTs and DeFi “and is gradually extending to the physical infrastructure network.” Source: Crypto News Flash thru Mario Nawfal
SEC approves 8 Ethereum ETFs including BlackRock and Fidelity.
But ETF issuers must have their S-1 registration statements go effective before trading can begin. It's unclear how long this process will take but some analysts are speculating that it could take weeks. In a stunning reversal, the U.S. Securities and Exchange Commission (SEC) announced on Thursday that it has approved eight applications for spot Ethereum ETFs, effectively green-lighting Ethereum trading on Wall Street. The following funds were approved in the filing: the converted Grayscale Ethereum Trust, the Bitwise Ethereum ETF, iShares Ethereum Trust, VanEck Ethereum Trust, ARK/21 Shares Ethereum ETF, Invesco Galaxy Ethereum ETF, Fidelity Ethereum Fund, and Franklin Ethereum ETF. When will the spot Ethereum ETFs begin trading? It won't be tomorrow. Bloomberg ETF expert James Seyffart suggested in a tweet that it could be a "couple weeks" before the fund managers' S-1 documents are approved to enable trading. Source: Decrypt
Standard Chartered expects spot Ethereum EF to be approved this week
Source: Radar🚨
Rumors about Ethereum Spot ETF being approved some time this week and traders have aggressively open long positions in futures markets.
ETH price is up 11% today while open interest increases by almost $1B in an hour.
Here's a list of all entrants in the spot Ethereum ETF race.
The 'ETHness Stakes' Source: Bloomberg, James Seyffart
JUST IN: The odds of SEC rejecting Ethereum ETFs by claiming ETH is a security have gone up
Source: Bloomberg's @JSeyff
BREAKING: The SEC is investigating the ethereum Foundation and wants to define Ethereum as a security.
Source: Radar
JUST IN: Reddit converted its excess cash into Bitcoin $BTC and Ethereum $ETH
Source: Barchart
