Prospective issuers of spot Ethereum exchange-traded funds (ETFs) are working to address the U.S. Securities and Exchange Commission's (SEC) comments on their S-1 forms, with the deadline set for this Friday.
Ethereum ETF Issuers Aim to Address SEC Comments by Friday These issuers received feedback from the SEC last week and are now re-filing their forms to meet regulatory requirements, according to two sources.
Although the SEC approved 19b-4 forms for these ETFs in May, S-1 forms still need to be finalized before trading can begin.
This process, which has no strict deadline, involves multiple rounds of revisions based on SEC feedback. Sources say the latest comments from the SEC are seen as “reasonable” and “mild.”
“I suspect people will be filing fairly quickly this week and then we'll see how many more turns the wheel needs to turn,” an issuer source said.
Reporting similar updates on social media, Bloomberg Senior ETF Analyst Eric Balchunas set the estimated launch date for these products at July 2, but noted that this was a best guess.
Issuers had initially submitted master drafts of their S-1 forms on May 31 and expected feedback the following week.
But the comments came after a two-week delay. The SEC did not give a specific timeline for approval of S-1 forms, only stating that it would occur sometime this summer.
SEC Chairman Gary Gensler noted that timing depends largely on how quickly issuers respond to the agency's feedback.
While the impact of Ethereum ETFs remains unclear, some analysts estimate they could capture up to 20% of the flows seen by Bitcoin ETFs.
Notcoin has recently been trending as the highest-performing token, crossing into the top 50 list by market capitalization.
Whales accumulate Dogecoin massively as analysts predict an impending surge.
Rebel Satoshi Arcade (RECQ) offers excitement, games, and NFTs with a low entry price and a prevalent presale.
Following Bitcoin’s (BTC) rising momentum, the global crypto market is gaining traction, and investors are eagerly seeking the following projects to deliver impressive returns. Attention is diverted to altcoins, focusing on projects with memetic allure and innovative offerings. Amid this narrative, a new meme coin with gaming capabilities, Rebel Satoshi Arcade (RECQ), stands out with an exciting take on NFTs and a prevalent presale journey.
The leading meme coin, Dogecoin (DOGE), is not left out, with analysts predicting a rally for the token. Notcoin (NOT), the trending Telegram cryptocurrency, is also making significant moves, rising over 150% in the past week as it rewards tapping efforts from early users. This article looks into the top investment opportunities in the crypto market for June, highlighting presale meme coins and high-performing assets.
Rebel Satoshi Arcade (RECQ): Redefining Blockchain Gameplay The Rebel Satoshi Arcade Universe has launched a new token within its ecosystem. RECQ, the platform’s utility and transactional token, is in the second stage of its presale journey. The top ICO is selling at $0.0044, and its vast growth potential poses an excellent opportunity for those seeking investments this June.
RECQ offers eight stages in its presale journey, minus the early bird stage. With stage one completed and less than 30% remaining for stage two, the token is getting closer to its goal. Over 477 million coins have been sold, and the next stage is set to trade at $0.0055. The top ICO is set to launch at $0.0125, offering an 184% increase for buyers who purchase coins in this stage. $NOT $DOGE $SHIB
The native token of the world’s largest cryptocurrency exchange has somewhat been on the sidelines during the 2024 bull run, but has finally managed to emerge as a top performer by soaring past $700 and tapping a new all-time high.
Its market cap has gone on a tear as well, exceeding $100 billion and surpassing companies like UBS, Dell, Starbucks and others.
Binance has been in a legal spat in several jurisdictions, with the most recent and active one against Nigerian authorities. Local company execs were detained while the company is trying to free them, which is not going well for now.
However, the biggest blow against Binance came at the end of last year, when the exchange agreed to pay $4.3 billion in a settlement deal with the US Department of Justice without admitting guilt to failing to incorporate proper anti-money laundering rules.
Moreover, its founder and then-CEO, Changpeng Zhao, had to step down and was later convicted to spend several months in US prison.
Amid these regulatory issues, Binance Coin remained sluggish and failed to take the main stage as BTC did in March when it broke its 2021 all-time high or as ETH did a few weeks back when the US Securities and Exchange Commission approved spot Ethereum ETFs.
Additionally, the current bull run has been dominated by old and newly popping meme coins, so the focus has been far from BNB.
However, that started to change in the past day or so as the fourth-largest cryptocurrency skyrocketed by nearly $100 from $625 to a new all-time high of $715 market earlier today$BTC $BNB $ETH
Ark Labs has been established to respond to the need for scalable, low-cost bitcoin payments.
Ark's creator Burak Keceli has moved on to other things, but the protocol and now Ark Labs is continuing to pursue the goal of building on and enhancing what Lightning has brought to Bitcoin.
The team behind Bitcoin layer-2 protocol Ark has formed a new company that will build a faster, cheaper payments system on the world's largest blockchain, aiming to create a better venue than Lightning Network.
The new firm, Ark Labs, was established to respond to the need for scalable, low-cost bitcoin payments, according to an emailed announcement on Tuesday.
The two primary objectives of the new company are to develop an open implementation of the Ark Protocol and build services for users, the first of which is expected later this year.
Layer-2 protocol Ark is built to allow off-chain payments in a way that avoids what creator Burak Kecli referred to as the "inbound liquidity" problem of Lightning.
“Lightning has many problems. But number one to me is the inbound liquidity problem,” Keceli told CoinDesk in an interview a year ago. “Imagine a payment system where you need money to receive money. This doesn't make any sense.”
Keceli has since moved on to other things, but the protocol and the newly formed Ark Labs continued to pursue the goal of building on and enhancing Lightning's contributions to Bitcoin.
Instead of requiring users to commit funds at the outset to establish liquidity, Ark uses service providers who provide 24-hour liquidity services for a fee.
Ark’s off-chain payments use an unspent transaction output (UTXO) model that uses virtual unspent transaction outputs (VTXOs) to facilitate unidirectional, one-time-only payments. $BTC $ETH $BNB
Aptos (APT) ecosystem CEO Mo Shaikh was named to the CFTC's digital assets subcommittee.
The CFTC's digital assets subcommittee is part of a larger committee made up of industry representatives who advise the agency on regulation and rulemaking. Other members include executives from BlackRock, BNY Mellon and Uniswap Labs.
Australia officially launches its Bitcoin ETFs tomorrow. The Spot BTC ETF success across other nations will surely reflect in Australia as well. The crypto market braces for impact, could this be the trigger to the golden bull run? The Bitcoin ETF narrative continues to gain traction across the world and the next country preparing to welcome its potential. Specifically, Australia’s first Bitcoin ETF will go live tomorrow and the crypto market awaits another surge. As another country prepares to embrace Bitcoin ETFs within its borders, massive inflows and bullish waves await Bitcoin (BTC) price. So far every country that launched a Bitcoin ETF has seen exponential interest and rapid adoption from its people and financial entities.
Not long ago, Australia made its official announcement to approve Spot Bitcoin Exchange Traded Funds (ETFs). Seeing as how Bitcoin ETFs brought raging success in other countries such as the USA and Hong Kong, it was only a matter of time before other countries followed this lead and Australia is the next to take this crucial step.
Compared to the first listing of Bitcoin ETFs the process was much faster in Australia. This possibility for Bitcoin ETFs in Australia only came by thanks to the new regulations that went into play mid-last year in Australia.
With the red tape being cleared paired with the undeniable success of Bitcoin ETFs across other parts of the world, Australia has made its strategic decision to enter the Bitcoin ETF markets. Now their Bitcoin ETFs will finally go live starting tomorrow.
This is another move that supports the crypto market expectation of a massive supply shock for Bitcoin (BTC) with exchanges at an all time low in Bitcoin (BTC) supply this expectation is closer than ever.