The SEC has posted the ProShares Ethereum ETF filing on its website, while the rest of the issuers and the community wait for the regulator's decision on these publicly traded crypto investment vehicles. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
ProShares introduces Ethereum spot ETF
📍The Ethereum investment fund application submitted by ProShares has been published by the SEC on its website. Although analysts suggest that the publication of the fund prospectus is not relevant to the decision the securities regulator will make regarding the listing of Ethereum-based investment funds, Bloomberg's James Seyffart commented that the ProShares presentation calls the attention for arriving late to the party.
Meanwhile, fund issuers are awaiting the response from the Securities and Exchange Commission (SEC) on the approval of S-1 filings, which could officially greenlight Ethereum spot ETFs on the market.
According to analysts, the SEC could respond later this week on the amended S-1 filings that fund issuers have been submitting seeking regulatory approval. However, it has become difficult for analysts to try to predict the path chosen by the regulator regarding the approval of Ethereum ETFs.
Recent comments from SEC Chairman Gary Gensler suggested that responsibility for approving Ethereum funds rests with the issuers and not the regulator. Gensler said Reuters that “really, it's up to them how responsive they are,” referring to the speed with which issuers, such as BlackRock, Fidelity, among others, can respond to SEC requests. Gensler also declined to comment on whether Ethereum ETFs will begin trading on stock markets in a few weeks or months.
Crypto Community Calls for Shiba Inu ETF
📍More than 10.600 firms support the presentation of a SHIB spot ETF, the second memecoin on the market by capitalization. Yesaccording to the Changeorg site, more than 10.600 people have signed in support of a proposal to introduce an exchange-traded investment fund based on Shiba Inu, which facilitates the participation of a greater number of people in this memecoin.
The proposal, which is close to reaching its goal of signatures of 15.000, identifies a group of investors, fans and defenders of cryptocurrencies who want Grayscale Investments to consider the establishment of a Shiba Inu exchange-traded fund (SHIB). ). This would expand people's investment access and exposure to the meme cryptocurrency.
According to the proposal, Shiba Inu is the second favorite cryptocurrency of Americans, after Bitcoin, which is already listed on the country's stock markets since the beginning of this year.
MicroStrategy Stock Rising More Than Bitcoin
📍Shares of MicroStrategy, the largest institutional investor in Bitcoin, grew 35% in the last month. This growth, according to data from Yahoo Finance, exceeds that experienced by Bitcoin in the last month, of 10%.
Compared to the last year's data, MicroStrategy shares increased by 480%, while the bitcoin price has risen 160% in this same period.
Analysts attribute this spectacular growth to the company's exposure to Bitcoin, being the public company with the largest BTC holdings today. In addition to this, several major companies have recently been replicating MicroStrategy's Bitcoin investment strategies, cementing the company's belief in Bitcoin as a store of value.
Polygon encourages developers to participate in its blockchain ecosystem
📍Polygon network developers have announced a grant fund to support the participation of blockchain developers. This fund, of 1.000 billion POL tokens over the next 10 years, will serve to incentivize developer participation, increase construction activity on the network, and encourage the creation of new projects that improve the network and the blockchain ecosystem, in general. .
Polygon will be receiving applications for this new fund until August 31, as reported on its social networks. During this time, developers interested in being part of the network's grant program will be able to submit their projects and ideas, which will be reviewed and selected by the Community Treasury Board.
On the other hand, Polygon explained that the allocated funds come from 1% of token issuances which, as detailed in the POL token whitepaper, will be dedicated to the growth of the Polygon Network builder community.
Metaplanet buys more bitcoins
📍This week, the company announced a new investment in Bitcoin. Metaplanet allocated another $1,59 million to expand its Bitcoin investment strategy, adding 23,25 BTC to its corporate reserves.
According to the statement presented by the company, it currently HODLing 141 bitcoins, which are valued at more than $9,5 million.
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