Bitwise files spot Ethereum ETF application
CryptoSlate » Ethereum (ETH)
by Mike Dalton
8h ago
Bitwise has filed its application for a spot Ethereum ETF with the SEC on March 28. The company submitted an S-1 form for a fund titled the Bitwise Ethereum ETF. Like other similar applications, the fund aims to provide exposure to the value of ETH held in its trust. The submission includes several vital details, notably that Bitwise aims to list on the NYSE Arca exchange and plans to use Coinbase Custody as a custodian. However, it did not disclose information on the ticker and fees. Bitwise’s application discusses Ethereum staking as a broad aspect of Ethereum itself. However, the applicatio ..read more
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Ethereum L2s face bottlenecks as ‘BlobScriptions’ drive fees up by over 10,000%
CryptoSlate » Ethereum (ETH)
by Oluwapelumi Adejumo
18h ago
Ethereum’s blobs transaction fees witnessed an unprecedented surge yesterday with the debut of “BlobScriptions.” Blobs represent a novel transaction type that alleviates layer-2 fees on the Ethereum network and was introduced through the Dencun upgrade. Since its inception, the minimum gas price for a Blob to secure inclusion in an Ethereum block has stood at one WEI, roughly $0.01. However, this fee experienced an astounding spike of more than 10,000% yesterday, reaching almost $300, following the introduction of BlobScriptions by Ethscriptions. As of press time, the average Blob fees have su ..read more
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Ethereum nears 1 million active validators as network surge strengthens security
CryptoSlate » Ethereum (ETH)
by Oluwapelumi Adejumo
18h ago
The Ethereum network has witnessed a surge in validator numbers, with the count nearing one million. On-chain data from Beacon Chain and Ethereum’s Validator Queue show an active validator count of 979,686. However, a Dune Analytics dashboard curated by Dragonfly analyst Hildobby places the total number on the network above the one million mark. Ethereum Active Validators. (Source: Beaconcha.in) These validators have collectively staked 31.36 million ETH, constituting approximately 26% of the digital asset’s total supply. Notably, according to Nansen data, most of these validators staked their ..read more
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Ondo Finance adds $95 million to BlackRock’s BUIDL, bringing total AUM to $240 million
CryptoSlate » Ethereum (ETH)
by Mike Dalton
1d ago
Ondo Finance, a tokenized real-world asset company, announced plans to add $95 million of its own assets to a tokenized fund from BlackRock. In a blog post on March 27, the company said it would move a “substantial portion” of the assets behind its OUSG token to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). That amount represents OUSG’s entire total value locked (TVL), according to the asset’s official overview. The same page suggests that some of the funds may also be held in BlackRock’s FedFund (TFDXX), the USDC stablecoin, and other investments. The OUSG token provides liq ..read more
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Fidelity files registration statement for Ethereum ETF despite regulatory uncertainty
CryptoSlate » Ethereum (ETH)
by Assad Jafri
2d ago
Fidelity Investments has taken another step in its effort to launch a spot Ethereum ETF, filing a registration statement on March 26 despite the uncertain regulatory landscape. The move follows a previous filing by Cboe, the exchange planned for this ETF, which submitted a form 19b-4 to the SEC on Fidelity’s behalf in November 2023. Fidelity’s actions, alongside those of other firms aiming to introduce spot ether ETFs, illustrate the growing interest in integrating digital assets into traditional financial products. Yet, obtaining regulatory approval presents a notable challenge, highlighting ..read more
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Munchables recovers $62.5 million in user funds after exploit linked to North Korean hacker
CryptoSlate » Ethereum (ETH)
by Oluwapelumi Adejumo
2d ago
Munchables, a web3 game operating on the Ethereum layer-2 network Blast, has successfully recovered the $62.5 million it recently lost to an exploit. The platform disclosed that the attacker voluntarily provided all relevant private keys to facilitate the return of user funds. The keys holding the $62.5 million worth of ETH, 73 WETH, and the main owner key were shared. Pacman, the founder of the layer-2 network, corroborated this development, stating that the hacker returned all stolen funds without demanding any ransom. Furthermore, Pacman announced that $97 million had been safeguarded in a ..read more
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US lawmakers demand SEC clarity on Ethereum’s asset classification
CryptoSlate » Ethereum (ETH)
by Mike Dalton
2d ago
A group of Republican lawmakers, including the chairmen of the House Financial Services Committee and House Committee on Agriculture, has formally requested SEC Chair Gary Gensler to provide clear guidance on the regulatory stance regarding the custody of non-security digital assets by Special Purpose Broker-Dealers (SPBD). The March 26 letter specifically demands clarity on the status of Ethereum (ETH) and further requests the regulator to establish clear definitions for various terms related to crypto, digital assets, securities, and investment contracts. The letter was signed by 48 members ..read more
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Grayscale executive sees path to Ethereum ETF approval despite SEC silence
CryptoSlate » Ethereum (ETH)
by Oluwapelumi Adejumo
3d ago
Craig Salm, the Chief Legal Officer at Grayscale, suggested that the US SEC’s “perceived lack of engagement” with spot Ethereum exchange-traded funds (ETFs) applicants wouldn’t be a decisive factor that would hinder the prospects of such products. In a March 25 post on X (formerly Twitter), Salm said the Ethereum ETFs would be approved because “the SEC already has engaged” with the issuers during the application process for a spot Bitcoin ETF. Why the SEC could approve Ethereum ETFs According to him, during the approval of spot Bitcoin ETFs, the financial regulator worked out key issues, inclu ..read more
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BlackRock sees Bitcoin as integral part of financial system – little interest in other crypto
CryptoSlate » Ethereum (ETH)
by Mike Dalton
1w ago
BlackRock believes that Bitcoin (BTC) will become an integral part of the financial system over the coming decade as it increasingly melds with the best parts of the traditional financial system. The asset manager’s Head of Digital Assets, Robert Mitchnick, made the statement during Reflexivity Research’s Bitcoin Investor Day on March 22. FOX Business reporter Eleanor Terrett reported his comments via X. Mitchnick said: “Eventually we expect there will be a convergence where the best of the old system and the new technology will become fused into a new infrastructure system in finance.” Mitc ..read more
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Ripple leaders forecast SEC defeat in Ethereum security saga
CryptoSlate » Ethereum (ETH)
by Oluwapelumi Adejumo
1w ago
Ripple CEO Brad Garlinghouse said the US Securities and Exchange Commission (SEC) would lose its war against Ethereum. In a March 22 post on social media platform X (formerly Twitter), Garlinghouse pointed out that the financial regulator lost its securities classification battle against his company’s XRP token and is on course to suffer a similar fate if it attempts to classify ETH as security. According to him: “The SEC picked fights with the industry and is losing badly in the Courts. They’re now fighting fellow regulators like the CFTC, and falling behind international counterparts.” Rip ..read more
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