Ethereum
Spot Ethereum ETF Updated Deposits Submitted by Applicants: Hot Details
Yuri Molchan
Bloomberg ETF Expert Reveals Ethereum ETF Applicants Made Major Updates to Their Filings
Read U.TODAY on
Google News
Popular Chinese crypto journalist and blogger Colin Wu reported that Bloomberg’s senior ETF analyst Eric Balchunas revealed documents showing that Ethereum ETF spot applicants had updated their S deposits -1.
These candidates include giants BlackRock, Fidelity, Grayscale and VanEck.
Ethereum ETF deposits have been updated
According to the aforementioned documentation submitted by the companies, Franklin has set its Ethereum ETF fee at 0.19%, and as for VanEck, this figure is set at 0.2%, as was announced on Friday.
Additionally, BlackRock, the world’s largest fund manager, disclosed an initial investment of $10 million while an undisclosed major investor acquired $10 million worth of its Future ETF (ETHA) shares.
Eric Balchunas estimates that the probable date of the spot Ethereum ETF approval is July 2.
Earlier this year, in January, the same companies saw their spot Bitcoin ETF filings finally approved by the Securities and Exchange Commission (SEC). Once trading began, ETFs began accumulating large amounts of BTC on a daily basis.
BTC ETF Outflows Hit Major Negative Record
Analytics X account @spotonchain spread the word about another day of capital outflows experienced by spot Bitcoin ETFs. According to a recent tweet from this entity, these ETFs saw negative inflows throughout the past trading week.
Overall, on Friday, exchange-traded funds that track the spot price of Bitcoin saw $545 million withdrawn. Grayscale faced a $34.2 million drawdown, and BlackRock’s IBIT ETF just had a zero net flow on Friday.
However, @lookochain reports that BlackRock actually saw an inflow of 23 BTC and the Invesco Galaxy Bitcoin ETF acquired 229 BTC. According to the same source, Fidelity and Bitwise recorded outflows of 787 BTC and 485 BTC respectively.
Ethereum scores victory against SEC
As reported by U.Today, earlier this week, Consensys reported that the SEC had finally ended its investigation into Ethereum 2.0. This is a major victory for the Ethereum team and ETH holders since the regulatory agency announced that it found no reason to label ETH as a guarantee.
This caused the price of ETH to rise by around 5%, with the price of the coin surpassing $3,500.
The second-largest cryptocurrency surpassed the $3,600 level on Thursday. However, since then, ETH has seen a freefall, now falling to $3,486.
About the Author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many aspects. He has written for several crypto media outlets. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.