Author: msmark

ARK 21Shares has recently adjusted its application for a spot Ethereum exchange-traded fund (ETF), shifting towards a cash-creation model akin to its previously approved spot Bitcoin ETF. The strategic amendment filed on Feb. 7 also includes plans to stake a portion of the ETF’s Ether (ETH) holdings potentially, aiming to generate additional income through staking rewards. This move follows the firm’s successful transition of its Bitcoin ETFs to a cash creation and redemption model in December after engaging in discussions with the United States securities regulator. The transition from an in-kind redemption model, where non-monetary payments such as BTC were…

Ark Invest and 21Shares amended their joint application for a spot Ethereum exchange-traded fund (ETF) in a Feb. 7 S-1 filing.According to one section, financial firms that are allowed to purchase and redeem ETF shares will only have access to cash creations and redemptions. They will not have access to in-kind creations and redemptions involving ETH.The relevant section reads:“Authorized Participants will deliver only cash to create shares and will receive only cash when redeeming Shares. Further, Authorized Participants will not directly or indirectly purchase, hold, deliver, or receive ether as part of the creation or redemption process or otherwise direct…

The Ethereum Protocol Fellowship (EPF) is a program designed to reduce the barrier to entry for developers interested in working on the core protocol. As core developer (and EPF creator) Piper Merriam likes to say, the door is comically wide open. EPF helps you walk through it. Over the past two cohorts, one of the most frequent request we’ve received from applicants & participants was for better onboarding materials. Josh and Mario, the coordinators of the EPF, are excited to announce the launch of the EPF study group (EPFsg): a 10 week education series intended as a precursor to the…

Ethereum (ETH) has made significant strides in its 2024 roadmap with the successful launch of the Dencun upgrade on the final Holesky testnet.  This is seen as a crucial step towards deploying the upgrade on the mainnet, signaling Ethereum’s progress in improving transaction efficiency, and scalability and reducing transaction fees by up to 90%. As a result, ETH has surged 2.9% in the last 24 hours, breaking its previous downtrend. Ethereum Dencun Upgrade The Dencun upgrade was first activated on the Sepolia testnet in January 2024, following its deployment on the Goerli testnet. This upgrade aligns with Ethereum’s broader strategy…

An average crypto investor experienced a gain of $887.60 in 2023, as reported by CoinLedger, a leading crypto tax software platform. The higher profits contrast sharply from 2022, a year of significant losses exceeding $7,000 per investor, following the collapse of key crypto firms and a pervasive bear market. “It’s clear that the cryptocurrency market is growing once again. After the collapse of FTX, the cryptocurrency ecosystem saw a freefall in asset prices,” said CoinLedger CEO David Kemmerer in a press release. “This latest rebound highlights the growth of the crypto industry from 2022 to 2023.” These insights derive from…

The decentralized finance (DeFi) ecosystem has hit a significant milestone as the total value of assets locked (TVL) surpassed $60 billion, marking a return to levels last seen in August 2022.According to data from DeFiLlama, the sector surged by an impressive 68% to $60.72 billion from November 2023, when the TVL stood at around $36 billion.DeFi TVL (Source: DeFillama)The upward trajectory of a TVL signals robust investor confidence, with more users entrusting their assets to partake in decentralized financial activities.Market analysts attribute this growth to the recent surge in crypto asset prices, fueled by buzz surrounding Bitcoin exchange-traded funds (ETFs).…

Ethereum core developer Eric Conner says the network’s mainnet in the long term will not serve as the platform where daily users would want to transact tokens. In a recent thread on X, Eric Conner, an Ethereum core developer, discussed the future trajectory of Ethereum’s mainnet, shedding light on its role in the ecosystem and addressing concerns about transactional costs. Conner emphasized Ethereum’s prioritization of “liveness,” highlighting its critical importance in facilitating transactions without outages as a key to building trust within the ecosystem. “But the fees are too high”Ethereum L1 in the long term isn’t where daily users will…

The U.S. Securities and Exchange Commission (SEC) extended the decision period for Invesco and Galaxy’s spot Ethereum ETF on Feb. 6.The agency’s announcement specifically concerns a proposed rule change from Cboe BZX that would allow it to list and trade shares of the fund.The SEC said that the proposed rule change was published for comment in the Federal Register on Nov. 8, 2023. The agency then designated a longer period for approval on Dec. 13, 2023, extending the period during which it could approve, disapprove, or institute proceedings around approval or disapproval.The agency’s latest filing indicates that it has chosen…

Get answers to your crypto investment questions. Learn about trends, promising coins, market risks, and whether investing in cryptocurrency is wise in 2024. Despite a buoyant surge in Dec. 2023, leading to an over 16% increase in the total crypto market cap to reach $1.66 trillion as of Feb. 6, we still find ourselves in the shadow of the highs of 2021. Total crypto market cap from Dec. 23 till Feb. 6 | Source: CoinMarketCap Amid this, 2024 started off with good news, Bitcoin (BTC), finally received a nod with the SEC’s approval of spot Bitcoin ETFs, hinting at an…

While U.S. regulators deliberate on spot Ethereum ETFs, Europe and Canada already boast billions in spot and futures ETH-related products.  Per a Coingecko study, Europe dominates the global Ethereum (ETH) ETF scene with an 81.4% market share. The area has 13 ETH-backed ETFs split across spot products and futures funds, amounting to $4.6 billion in assets under management (AUM). Canada is also a big market for ETH ETFs and commands a 16.6% market share of $949 million in AUM. ETFs have also become a gateway into crypto for many Canadian investors. Local regulators introduced stricter measures on crypto companies, leading…