The Chicago Board Options Exchange (CBOE) has submitted updated 19b-4 filings for Fidelity, VanEck, Invesco Galaxy, Ark Invest, 21Shares and Franklin Templeton to the SEC, while VanEck’s Ethereum spot ETF was added to the DTCC listing under the ticker ETHV. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
The United States and the approval of Ethereum ETFs
📍Enthusiasm over the potential approval of Ethereum ETFs in the United States continues to grow. The crypto community is awaiting the possible approval of Ethereum exchange-traded funds this week. However, according to experts, the US Securities and Exchange Commission (SEC) could be considering approving 19b-4 filings by stock exchanges as early as today, which increases the likelihood of launching Ethereum investment funds in the US market.
Bloomberg ETF analyst James Seyffart revealed that the CBOE market was the first to heed the SEC's comments and in to update 19b-4 filing documents from five of the nine fund issuers seeking to launch an Ethereum spot ETF in the country.
According to Seyffart, while the SEC's recent actions and the potential approval of these filings today do not mean the immediate launch of cryptocurrency spot ETFs, they do constitute an important step forward on this issue. The expert commented that the SEC still needs to approve the S-1 forms from fund managers in order to give the final go-ahead for Ethereum ETFs and authorize their launch on the market. Seyffart believes it could take several weeks before this happens.
“Seeing the widespread misconception that “approvals” mean immediate launches of Ethereum ETFs. This is not necessarily the case. There will be days (at a minimum), probably at least weeks, and potentially months between approval and launches here”, Seyffart noted.
Still, experts' odds for the potential approval of Ethereum ETFs in the United States remain at 75%. Meanwhile, VanEck has listed its ETF, VanEck Ethereum ETF, on the Depository Trust & Clearing Corporation (DTCC), under the ticker ETHV.
FIT21: Lawmakers Back Crypto Bill
📍A group of 8 legislators are supporting the approval of the Financial Innovation and Technology for the 21st Century (FITXNUMX) bill. The group, which includes legislators Wiley Nickel, Yadira Caraveo, Jim Himes, Jasmine Crockett Ritchie Torres, Darren Soto, Josh Gottheimer and Don Davis, have signed a memorandum expressing their commitment to promoting innovation in the country.
According to CoinDesk, this memorandum reflects the interest of US legislators in establishing a clear legal framework for the growing digital asset industry in the United States, in order to turn the nation into a market in favor of innovation and development.
The past week has seen some interesting developments in the country regarding regulatory clarity on cryptocurrencies. First, the House of Representatives and the Senate passed a bill repealing the SEC’s Special Accounting Bulletin No. 121, allowing banks and regulated entities to hold digital assets. Likewise, the Republican Party has embraced cryptocurrencies as a means of receiving donations, while the SEC hints at the possible approval of Ethereum spot ETFs.
Paradigm leads Farcaster's $150M round
📍Web3 social protocol Farcaster has raised $150 million in a funding round led by Paradigm. This round of funding will support the growth of the protocol as well as the work that the development team has been doing for years, said one of the co-founders, Dan Romero.
According to plans revealed by Romero, the Farcaster development team will focus this year on growing the protocol’s user base and adding developer primitives to the protocol, such as channels and direct messaging.
Other major companies with a presence in the crypto world also participated in the financing round, such as Andreessen Horowitz (a16z), Haun Ventures, USV, Variant and Standard Crypto.
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