Ethereum

James

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/companies-submit-modified-ethereum-etf-forms-to-sec/" data-wpel-link="internal">Companies Submit Modified Ethereum ETF Forms to SEC</a> 
In the cryptocurrency world, preparations for a spot Ethereum ETF continue. In this context, all updated forms have removed Ethereum staking conditions, which some see as a regulatory hurdle. BlackRock, Grayscale, and Bitwise removed staking conditions in their modified 19b-4 forms submitted to the SEC for their spot ETH ETFs. This change was likely made to overcome regulatory obstacles. Staking is seen as a way to earn passive income in the crypto world. On Wednesday, BlackRock, Grayscale, and Bitwise submitted modified 9b-4 forms to the SEC for their proposed spot Ethereum investment funds (ETFs). 
<h2 style="text-align: justify" id="what-is-in-the-modified-files">What Is in the Modified Files?</h2> 
According to the statement in the modified BlackRock file, it was emphasized that no party would use the Ethereum (ETH) Trust’s ETH assets for Ethereum Proof of Stake validation or to earn additional ETH gains. This means the Trust will not participate in staking or similar activities to generate passive income or other gains. 
Staking involves locking a specific cryptocurrency for a certain period to contribute to the operation of a Blockchain and receiving rewards in return. These rewards are generally considered passive income among crypto <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. According to Lido’s data, the annual return on Ethereum staking is around 3%. 
<h2 style="text-align: justify" id="ethereum-price-positively-affected">Ethereum Price Positively Affected</h2> 
This week’s developments excited the <a href="https://en.coin-turk.com/cryptolinks-your-comprehensive-guide-to-navigating-the-cryptocurrency-world/" data-wpel-link="internal">cryptocurrency market</a>. Fidelity canceled its initially announced staking plans and modified its S-1 forms. Following this step, major players like VanEck, Franklin Templeton, Invesco Galaxy, and ARK 21Shares similarly removed staking from their <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener" data-wpel-link="exclude">application</a> files. The only exception is Hashdex, which has not yet made changes to its Ethereum ETF. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-354745 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ethereum-6-1.jpg" alt="" width="740" height="415"> 
Depository Trust and Clearing Corporation (DTCC) started listing VanEck’s Ether ETF under the symbol ETHV on its platform. This step was seen as a positive sign by some. On Monday, influential Bloomberg analysts Eric Balchunas and James Seyffart raised the approval probability from 25% to 75%, causing a surge in the overall market. With this development, Ether rose by over 17%, while Bitcoin surpassed the $71,000 mark for the first time since early April. 
At this stage, no one actually expected an approval from the SEC. James Seyffart stated in an interview with Unchained that the issue has now reached “political” dimensions and the decision “likely came from the Biden administration.” 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/companies-submit-modified-ethereum-etf-forms-to-sec/" data-wpel-link="internal">Companies Submit Modified Ethereum ETF Forms to SEC</a></h5>

Companies Submit Modified Ethereum ETF Forms to SEC

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