$ETH The US Securities and Exchange Commission (SEC) has requested immediate submission of draft S-1 filings from organizations issuing Ethereum ETFs – Grayscale updates registration statement The path to official trading for Ethereum ETFs is wide open as the US Securities and Exchange Commission (SEC) has requested organizations to submit draft S-1 filings before Friday. All eyes are on the S-1 after form 19b-4 was approved on May 23 prior to trading commencement. As the approval is the result of a last-minute pivot from the SEC, the S-1 templates were not prepared in advance. After potential issuing organizations submit their S-1 filings, the SEC will provide initial comments for subsequent amendments. However, details regarding seed investments and other aspects of the filings remain unclear and require more time to address. Sources indicate that the S-1 forms will have to undergo at least two more draft submissions before being ready. Grayscale Investments is the latest organization to update its registration statement for Ethereum ETFs. The asset management giant filed an amended S-3 registration statement on Thursday, a day after BlackRock filed an amended S-1 statement, and a week after VanEck took similar action on the same approval day. Grayscale's new filing has updated the amount of ETH needed to create a basket of shares: "As of May 28, 2024, the amount of Ether required to create a Basket of 100 Shares is approximately 0.94552590 Ether and the amount of Ether required to create a Basket of 10,000 Shares after the Amended Trust Agreement becomes effective will be 94.552590 Ether." Bloomberg ETF analyst Eric Balchunas predicts that Ethereum ETFs in the US could launch in June. $ETH
$FLOKI Floki Inu Surges Over 20% After Launching a Telegram-Based Trading Bot Allowing FLOKI Holders to Trade Any Token on the BNB Chain Network. According to Coindesk, the developers of Floki Inu announced that they have launched a Telegram-based trading bot allowing FLOKI holders to trade any token on the BNB Chain network. A developer from the FLOKI team stated that the Telegram-based bot is expected to be deployed to a small number of users during the beta testing phase to identify and resolve any technical issues. This feature will then be rolled out to all users by mid-June, he added, mentioning that the bot service will be expanded to other blockchains, including Ethereum and Base. Finally, the developer expects the newly launched service to increase demand for FLOKI tokens as users will need to hold funds to use the bot. The bot charges a 1% fee per transaction, and 50% of the collected fees will be used to buy FLOKI on the open market, adding to the buying pressure. After introducing the new feature, FLOKI saw a 25.72% spike in the past 24 hours, with a recorded price at the time of writing of $0.000282 USD. As a result, FLOKI became the number one trending token on a leading exchange, surpassing currently popular altcoins such as Ethereum, PEPE, and BONK. After becoming the hottest memecoin on Binance, FLOKI is now also the number one trending token, surpassing ETH, PEPE, and BONK! $FLOKI $FLOKI
$ETH $BTC The U.S. SEC has begun engaging with Ethereum ETF issuers regarding the S-1 form. Amid increasing expectations for the approval of Ethereum ETFs, the U.S. Securities and Exchange Commission (SEC) has started discussions with potential fund issuers concerning S-1 registration statements.
"Essentially, it's just getting started," a senior member of an issuing organization said when asked about discussions related to the S-1 form. "It seems like the Investment Management Division is somewhat caught off guard by the shift in sentiment. So, it's just getting started."
For Ethereum ETFs to be approved, the SEC must approve Form 19b-4 filings – following a similar order to previous Bitcoin ETFs – and then the S-1 registration statements must also be approved. Only then can new trading begin.
Typically, before each approval, the forms are returned to registrants for amendments and resubmission. When the final version is submitted, the SEC may choose to approve or deny. While there has been much movement regarding Form 19b-4, only Fidelity recently submitted amended S-1 forms. With discussions on S-1 ongoing, there may be more amendments to come.
Decision day for Ethereum ETF approaches For Form 19b-4 filings, the SEC's deadline to approve or deny VanEck Ethereum ETF's filing is May 23rd. Given the intention to approve multiple issuers simultaneously – as seen with Bitcoin ETFs – experts are optimistic that if an ETF is approved, it will happen today.
Bloomberg ETF analyst Eric Balchunas predicts the SEC will make a decision around 4:00 PM ET.
"For BTC same-day trading, they made the decision around 3:45, with others just after 4:00."
However, even if Form 19b-4 filings are approved, it may take additional time before S-1 forms are ready and effective. This means the S-1 forms could delay the time before trading begins. $ETH #bitcoin
Hong Kong has seen an outflow of $82.5 million, indicating that the hype around cryptocurrency ETFs in the region may not be justified. Global ETF volumes slightly increased last week but remain significantly lower than the volumes seen in March and April.
BTC/USD Trading Plan for May 22, 2024: Weekly Inflows into Digital Assets Surge Over 600% Following CPI Report Response Market Overview: Bitcoin accounted for a significant portion of the total inflows, with capital inflows exceeding $942 million. Solana and Chainlink also saw inflows of $4.9 million and $3.7 million, respectively. On the other hand, Ethereum experienced an outflow of nearly $23 million due to bearish sentiment last week related to the approval of the spot ETH ETF.
However, things are looking positive for digital assets this week following rumors that the SEC is preparing to approve ETFs as the May 23 deadline approaches.
Regionally, the U.S. dominated with inflows of over $1 billion. Canada continued to see outflows for the second consecutive week, with outflows of about $17 million. Hong Kong saw outflows of $82.5 million, suggesting that the launch of Bitcoin and Ethereum ETFs in the region may not be as impactful as expected.
The total volume across global ETFs also slightly increased from $8 billion to $10.5 billion last week. However, this is still much lower than the $40 billion volume seen in March. With the market opening the new week on a positive note on Monday, global ETFs might see even higher inflows.
Within the past 24 hours, Bitcoin (BTC) has surged above the critical level of $70,000. Indeed, the leading cryptocurrency has seen its value increase by over 5%, according to CoinMarketCap. However, with this recent surge, the market is curious about why BTC has spiked significantly at the beginning of the week. Numerous factors appear to explain the overall spike that BTC experienced on Monday. Furthermore, the overall market has seen broadly positive developments as May approaches Memorial Day weekend. Specifically, assets like Solana, Ethereum, and Cardano have had notable price increases over the past 7 days. But let’s explore whether the market is responsible for driving Bitcoin’s resurgence as it stands. BTC Surpasses $70,000 as Market Surges At the start of the year, Bitcoin witnessed the U.S. Securities and Exchange Commission (SEC) approving the issuance of spot exchange-traded funds (ETFs) for the asset. This proved to be a landmark development for the leading cryptocurrency and dominated the discussions surrounding it. Therefore, the discussion of why Bitcoin (BTC) has reached the current $70,000 level needs to begin with that development. Specifically, the digital asset sector has seen numerous high-profile financial institutions reveal their exposure to the recently approved Spot Bitcoin ETF. The latest of these is Morgan Stanley, which revealed that it held $270 million worth of Grayscale’s Bitcoin Trust as of March. This disclosure put Morgan Stanley on par with JPMorgan, Wells Fargo, UBS, and others. $BTC
$SHIB Shiba Inu tăng cường đốt mạnh – 410 nghìn tỷ token đã biến mất
Shiba Inu đốt hàng triệu SHIB mặc dù giá giảm, hơn 410 nghìn tỷ SHIB bị đốt cháy kể từ khi memecoin này ra mắt.
Vào ngày hôm nay, tốc độ đốt token hàng ngày của Shiba Inu đã tăng bất chấp giá SHIB gần đây đã giảm. Trong một báo cáo gần đây của nền tảng theo dõi Shibburn trên X cho thấy tốc độ đốt tăng mạnh 62,58% trong vòng 24 giờ qua.
Thông qua sáng kiến đốt mới nhất này, cộng đồng Shiba Inu đã đưa thành công 6,9 triệu token SHIB ra khỏi nguồn lưu hành.
Ngoài việc đốt 6,9 triệu SHIB gần đây, cộng đồng Shiba Inu đã loại bỏ thêm một số token trong tuần qua, nâng tổng số tiền bị đốt lên 57,67 triệu SHIB trong tuần. Tuy nhiên, con số này thể hiện mức giảm 57% so với tổng lượng đốt của tuần trước.
Kể từ khi ra mắt với tư cách là dự án memecoin hàng đầu vào năm 2020, cộng đồng Shiba Inu đã đốt thành công hơn 410 nghìn tỷ SHIB. Điều này chỉ khiến 582,9 nghìn tỷ SHIB được lưu hành trong số một triệu token được tạo ra.
Ý nghĩa của việc đốt coin?
Việc đốt coin sẽ giúp giảm số lượng coin trên thị trường. Khi đó, nguồn cung hàng ngày sẽ giảm và nếu nhu cầu mua tăng lên sẽ giúp giá của token này tăng.
Ngoài ra, việc đốt coin còn thể hiện sự cam kết của đội ngũ phát triển dự án, giúp cho nhà giao dịch củng cố niềm tin vào dự án mình đang đầu tư.
Tại thời điểm viết bài này, hơn 6,28 nghìn tỷ SHIB vẫn bị khóa trong các nền tảng đặt cược. SHIB đang giao dịch với giá 0,00002408 USD, thể hiện mức phục hồi nhẹ 0,2% sau khi trải qua đợt giảm giá 5,84% gần đây.
$BTC If I had the opportunity to own 10,000 BTC like Laszlo Hanyecz did in 2010, I would store it in a cold wallet and wait for BTC to go to the moon before releasing it with a bottle of premium champagne at the highest place in the city where I live.