Just last month, the mere idea of an Ethereum spot ETF approval seemed like a dream. Experts dismissed the chances as "slim to none". But only one thing is certain in crypto - and that's uncertainty! A sudden court ruling appeared to blow the doors wide open. Ethereum's path to becoming an SEC-blessed ETF asset was no longer obstructed by that securities classification hurdle. Overnight, the narrative flipped from "it'll never happen" to "we're probably getting an approval this week." And the bearish sentiment that was being witnessed in Q1 suddenly turned bullish. As we are waiting for the SEC decision, let's unpack all the big stories that happened in crypto in the past 24 hours. Here is a quick rundown of the top headlines: |
- VanEck secures ETHV ticker on DTCC, signaling ETF prep 🤔 Will it really get approved this week?
- Major issuers scrub staking rewards from ETF filings ❓ Why the sudden rejection of staking?
- Farcaster's unofficial DEGEN token pumps 17% on $150M raise 🚀 But what exactly is Farcaster?
- Kelp DAO raises $9M for liquid Ethereum restaking 💰 When will this token go public?
- AIOZ becomes the first DePIN on Nvidia Catalog 💻 More web3 apps on Nvidia incoming?
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Let's explore the context around each of these stories in more detail. |
| | | GLOBAL MARKET CAP | | $2.59T | | ▼0.15% (24h) | | | 24H MARKET VOLUME | | $98.49B | | ▼13.69% (24h) | | |
| | BITCOIN'S DOMINANCE | | 52.93% | | ▼0.27% (24h) | | | FEAR & GREED INDEX | | 66 | | Greed | | |
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 | Bitcoin | | | $69,689.82 | | ▼0.68% (24h) | |
|  | Ethereum | | | $3,848.21 | | ▲3.1% (24h) | |
|  | BNB | | | $609.88 | | ▼1.9% (24h) | |
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Data as of: 23 May 2024 11:25 UTC |
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VanEck's Ethereum ETF Ticker Pops Up on DTCC |
The Depository Trust & Clearing Corporation (DTCC) - one of America's preeminent financial infrastructure gatekeepers - has officially listed VanEck's ticker "ETHV" on its website registries. A checkpoint viewed as a crucial milestone before any ETF can realistically hit the street. It's worth noting VanEck's ETHV is currently listed as "inactive" on the DTCC's books for the time being. But the fact VanEck managed to secure this DTCC listing at all, following in the footsteps of Franklin Templeton's ETH fund last month, is clearly being interpreted as a major bullish sign. Multiple reports suggest SEC officials have been burning up the phone lines in recent weeks to get the existing spot Ether ETF applications updated rapidly. That sort of hectic regulatory busywork, combined with VanEck and Franklin securing these DTCC prerequisites, has fueled speculation of an impending greenlight. What's the probability of an Ethereum ETF getting approved this week? Read the full story! |
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BlackRock, Bitwise, Grayscale Update Ethereum ETF Filings |
And while we are on the topic of ETFs, major product issuers are proactively revising their applications to remove any mention of staking rewards. In a series of updated 19b-4 filings submitted to the SEC, BlackRock, Bitwise, and Grayscale have all removed language describing how their proposed funds may participate in Ethereum's proof-of-stake validation model. BlackRock's amended paperwork went so far as to explicitly state: "Neither the Trust, nor the Sponsor, nor the Ether Custodian [...] nor any other person associated with the Trust will, directly or indirectly, engage in action where any portion of the Trust's ETH becomes subject to the Ethereum proof-of-stake validation or is used to earn additional ETH or generate income or other earnings." But what exactly triggered this need to mention "no staking rewards" explicitly? Read the full story! |
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Thursday, 23 May on 3 PM UTC |
| What's next for NFT tech? Join us as we explore the future of NFTs beyond mere speculation and hype! Don't miss this exclusive live-session. |
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Farcaster just unlocked a major $150 million funding round - and its tight-knit community of degens is already celebrating by pumping the ecosystem's unofficial DEGEN token. It's important to note DEGEN isn't an official Farcaster token. Tracing back to its January launch in the infamous Degen channel, DEGEN was initially distributed as reward for top-tier content and engagement across the network. But what is Farcaster? And how did it secure this large funding from big VCs? Read the full story! |
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Decentralized finance's liquid staking arena just welcomed a new contender after Kelp DAO raised $9 million in a recent token sale round. The Ethereum restaking platform, built atop the novel EigenLayer rollup, secured the sizable funding led by institutional players like Bahamian trading firm SCB Limited and Nomura's Laser Digital crypto fund. Their combined $3.5 million anchored investments from notable venture outfits such as Bankless, Hypersphere, Draper Dragon, and Cypher Capital. High-profile angel investors like Gitcoin's Scott Moore and Saurabh Sharma of Jump Crypto also allocated to the round. When will this token officially launch to the public? Read the full story! |
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First DePIN on Nvidia's App Catalog |
A major milestone for decentralized computing has been achieved, as AIOZ Network has secured a listing as the first DePIN solution on Nvidia's prestigious Accelerated Applications Catalog. This spotlight shines a brilliant light on AIOZ's ambitions to foster an open, decentralized landscape powering the future of web3 AI, data storage, and streaming services. By being showcased alongside industry titans like Adobe and Epic Games within Nvidia's global dev ecosystem, AIOZ gains unprecedented mainstream exposure for its distributed infrastructure model. Will we see more web3 products getting listed in this catalog? Read the full story! |
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A Deep Dive Into DePin (Decentralized Physical Infrastructure) | |
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| CoinMarketCap Academy takes a deep dive into Decentralized Physical Infrastructure Networks, an attempt to incentivize individuals for contributing to the infrastructure industry. |
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And that's a wrap. We will be back with more updates tomorrow! |
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