The Block
Quick Take Tether CEO Paolo Ardoino discusses the growth of USDT, Tether’s vision for AI, and more.
Ethereum Foundation Executive Director Aya Miyaguchi said the foundation is developing a formal policy to address potential conflicts of interest.The statement follows recent disclosures from two Ethereum Foundation researchers about receiving “significant” EigenLayer token incentives.
Trading of spot ETH ETFs is expected to begin well before November, according to JPMorgan analysts.The analysts also shared their view on the crypto FIT 21 bill, saying its chances of passing the Senate are lower.
Bitcoin’s price briefly surpassed the $70,000 threshold; however, it quickly fell by 3.5% to around $67,000.The past day’s price fluctuations resulted in a spike in long crypto positions getting liquidated on centralized exchanges.Ether reached a new monthly peak of $3,937 before retracing to $3,710 at the time of writing.
Standard Chartered’s Geoffrey Kendrick says that other crypto ETFs may find approval in 2025.Kendrick suggests that the approval of ETH ETFs implies that ETH and similar cryptocurrencies are not securities.
Yesterday, the SEC approved spot Ethereum ETFs from BlackRock, Fidelity, Grayscale and others.Attention has turned toward which cryptocurrencies could receive an ETF wrapper next, with Solana top of the speculative list.However, based on prior pathways and the SEC’s stance on some cryptocurrencies, spot ETFs beyond Bitcoin and Ethereum are unlikely to be happening anytime soon.
Kabosu’s iconic meme led to the birth of dogecoin, the largest memecoin by market capitalization.
Hong Kong’s three spot ether ETFs saw no flows on Thursday, while the spot bitcoin ETFs recorded a net outflow of 25.63 BTC.
U.S. spot bitcoin exchange-traded funds saw $107.91 million worth of net inflows on Thursday.Fund inflows from Fidelity, VanEck and others outweighed outflows from Grayscale’s GBTC.The SEC approved eight spot ether ETFs later on Thursday.
Quick Take In an order approving 19b-4 forms for ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton, there was a line at the end that sheds light on how the decision went down. The SEC said on Thursday that it won’t be commenting beyond the order.
