Home Blog Page 1348

Long-Term Holders Favor XRP and Shiba Inu: 10 Year Chart Shows

Albert Brown
-
0
Long-Term Holders Favor XRP and Shiba Inu: 10 Year Chart Shows

A Santiment report confirms that XRP boasts up to 5.24 million wallets with non-zero balances, while Shiba Inu currently sees 1.39 million.

Santiment, a renowned market intelligence platform, recently released a 10-year analysis of notable altcoins and their respective non-empty wallets. The analysis highlighted the significant user base of XRP and SHIB, showcasing their market positions.

XRP Ledger (XRP) Shows Steady Growth

According to Santiment, XRP boasts 5.24 million non-empty wallets, indicating a substantial and established user base. This places XRP in the mid-range among the compared assets.

As seen on Santiments chart, XRP has shown a steady increase in the number of holders over the years. Despite facing regulatory challenges, XRP continues to maintain investor trust and market confidence.

Recall that the number of XRP wallets holding a balance greater than 0 XRP skyrocketed over 20% in January this year, reaching 4.95 million. The increase of around 340,000 non-empty wallets reflects the growing interest in the XRP network.

Shiba Inu (SHIB) Community Continues to Grow

Meanwhile, Shiba Inu boasts 1.39 million non-empty wallets. However, this number is relatively smaller compared to other altcoins like Litecoin and Dogecoin, suggesting that SHIB is still in a growing phase. Shiba Inu is also much younger than these assets.

The number of SHIB holders has also shown a gradual increase over the years. Despite being a meme coin, SHIB has managed to garner a loyal following, placing it above Chainlink but below Dogecoin and Litecoin. This positioning indicates that while SHIB has a solid community, it is still developing compared to more established coins.

Litecoin and Dogecoin Dominate

Meanwhile, Santiment’s data show that Litecoin is leading the list with 8.08 million non-empty wallets, the highest among the compared assets. This consistent growth reflects stronger investor confidence. The figure is also due to Litecoin’s position as the oldest asset on the list, having launched in 2011.

Dogecoin follows with 6.69 million non-empty wallets. Driven by social media hype and celebrity endorsements, Dogecoin’s wallet numbers have seen significant growth.

Elsewhere, Chainlink has shown growth but at a slower rate compared to the other assets. Chainlink has 722,000 non-empty wallets, the lowest among these assets despite being launched in 2017, three years before Shiba Inu.

Activity of SHIB and XRP Non-empty Addresses

Examining the active addresses provides further insight into the engagement levels of these non-empty wallets. The following chart by Santiment highlights the contrasting behaviors of wallet addresses for SHIB and XRP, with Shiba Inu showing less user activity.

Screenshot 2024 07 24 at 084433

As of July 24, 2024, SHIB has 21,799 active addresses. Notably, SHIB experienced a significant spike in active addresses around early March 2024, reaching approximately 152,000 active addresses.

However, despite having a significant number of non-empty wallets, the number of active addresses indicates that a large portion of these wallets may not be consistently active.

Meanwhile, XRP currently has 95,273 active addresses. Compared to SHIB, XRP exhibits a more consistent level of active addresses, ranging between 60,000 to 160,000. This suggests that a larger portion of XRP holders are actively engaging with the network.

Hawk Tuah Meme Coin’s 220% Jump Teases Bull Run Ahead

Albert Brown
-
0
Hawk Tuah Meme Coin’s 220% Jump Teases Bull Run Ahead

Jumping back into the trend, the Hawk Tuah (HAWKTUAH) meme coin is up 220% in the last 24 hours, teasing the possibility of a surge to higher levels. 

Rising back into the top 1,500 altcoins, the HAWKTUAH meme coin now boasts a market cap of $2.380 million and a 24H trading volume of $3.370 million amid a near 30,000% increase. Moreover, the Hawk Tuah token has surged by more than 200% in the last 24 hours, revealing a new surge in demand.

Will this bullish trend revival sustain a long-term momentum to reach the heights of top meme coins like PEPE or BRETT?

A New All-Time High for HAWK Refreshes Bull Run

Trading at $0.002355, the HAWKTUAH price shows a sudden surge in the daily chart with a rounding bottom pattern. Surpassing the initial price of $0.002263, the 1H chart reveals a new morning star pattern arising in the ongoing recovery phase. 

HAWK Price Chart
HAWK Price Chart

In the shorter timeframe, HAWKTUAH trend action shows a minor rounding bottom pattern with a neckline at $0.0028. However, the recent 9.61% fall in the last hour forms a bearish candle as it reverses from the neckline. 

HAWK Price Chart
Hawk Tuah Price Chart

With the minor rejection, Hawk Tuah teases the possibility of a cup and handle pattern with the same neckline at $0.0028. Notably, the cup and handle is a bullish continuation pattern typically seen in upward trends during a minor consolidation. Thus, the price action teases a breakout rally in the coming days. 

Will Hawk Tuah Hit $0.0050 With A Breakout Rally?

The demand resurging in the meme coin teases a trend continuation ahead. With a breakout rally, HAWKTUAH is likely to hit the psychological mark of $0.0050.

Currently, the meme coin trades at a discount of 31% from its all-time high at $0.003196. Further, the Volume to Market cap ratio of 145.54% reveals a massive demand surge and teases a bullish trend ahead. 

Six Reasons XRP is Set for a Significant Price Surge: Market Watcher

Abdulkarim Abdulwahab
-
0
Six Reasons XRP is Set for a Significant Price Surge: Market Watcher

Market watcher Zach Rector outlines six reasons XRP is poised for a more significant price increase over the next few weeks.

XRP and the broader crypto market have been in a corrective phase in the past few days. As a result, XRP currently trades below the psychological $0.6 threshold. In mid-July, XRP caused a significant sensation in the crypto market when it rallied to $0.6366, its highest value since April.

While the asset has lost a fraction of the gains, prominent market watchers like Zach Rector have reasons to believe more pumps are underway. In an analysis today, Rector identified six key reasons supporting a bullish perspective for XRP.

Six Reasons Why XRP Will Pump Higher

Topping the list is the conclusion of the nearly four-year-old Ripple lawsuit, which Rector highlighted its ultimate resolution is now any day. This perspective draws from commentaries of Ripple CEO Brad Garlinghouse. In a TV interview last week, Garlinghouse disclosed that a resolution is happening “very soon.”

As a result, Rector urged XRP enthusiasts to be ready for development, recalling the scenario that played out after the July 2023 ruling that XRP is not a security. In particular, the price of XRP doubled within 24 hours, coming close to $1.

Secondly, Rector cited that Ripple will be able to provide its XRP-based payment solution to U.S. customers following the lawsuit. He believes this could be a significant bullish catalyst for XRP as it potentially increases its adoption. 

Thirdly, he referenced the imminent launch of Ripple’s stablecoin RLUSD, which will be launched on the XRP Ledger and Ethereum blockchains. He stressed that the stablecoin will bring a new wave of liquidity into the XRPL ecosystem.

Notably, Ripple executives, including its CEO and CTO David Schwartz, have reiterated that the coming of RLUSD is beneficial to XRP.

Furthermore, Rector highlighted the projected arrivals of XRP ETFs as another bullish catalyst to keep in mind. He noted that they already live in Europe and will soon be in the U.S. According to him, multiple XRP ETFs will bring a lot of liquidity, driving XRP’s value higher.

Meanwhile, Rector noted that broader U.S. cryptocurrency regulations could surface next year after the U.S. elections. The community pundit believes it is a bullish catalyst for the entire space, and Ripple’s compliance-first mindset perfectly positions XRP.

Inflation as Another Catalyst for XRP

Finally, Rector noted that there will be more money printing regardless of who gets elected president of the United States. Considering the inflationary pressure from such action, he urged XRP enthusiasts to “get prepared” and load their bags as crypto assets could be a haven.

US Presidential Candidate Harris Reportedly to Speak at Bitcoin 2024, Novogratz Anticipates Pro-Crypto Stance

Albert Brown
-
0
US Presidential Candidate Harris Reportedly to Speak at Bitcoin 2024, Novogratz Anticipates Pro-Crypto Stance

U.S. Vice President and Democratic presidential candidate Kamala Harris might speak at the upcoming Bitcoin 2024 Conference, with Mike Novogratz expecting her to be pro-Bitcoin.

Vice President Kamala Harris is reportedly in talks to speak at the upcoming Bitcoin Conference in Nashville. This event, scheduled between July 25 and 27, 2024, could mark a significant moment for the cryptocurrency community.

 

David Bailey, CEO of Bitcoin Magazine, confirmed these discussions, highlighting the potential shift in the Democratic Party’s stance on cryptocurrency. However, despite the disclosures, neither Harris nor her team has confirmed that she will be speaking at the event.

Harris’s team has been actively engaging with crypto executives and seeking input on policy matters. This outreach suggests a possible pivot towards a more crypto-friendly approach within the Democratic Party. 

Michael Novogratz Weighs In 

Michael Novogratz, CEO of Galaxy Digital, expressed optimism about Harris’s potential involvement in the Bitcoin Conference. He believes that Harris could adopt a pro-crypto stance, which would be beneficial for the industry.

 

Novogratz emphasized that the political landscape is becoming increasingly favorable for cryptocurrency, with bipartisan support growing. Additionally, he noted that Harris advocates for innovation and cryptocurrency, is against Gensler’s SEC, and promises to reverse the choke point. 

He attributed this to the increasing regulatory clarity and the growing interest from institutional investors. Novogratz highlighted that the government is gradually warming up to the idea of cryptocurrency, which could lead to positive legislative changes.

The Bitcoin Conference could serve as a platform for Harris to outline her views on cryptocurrency and blockchain technology. This move could attract support from the tech sector and the crypto community, which are crucial voter blocks. 

Harris’s appearance at the conference would signal a significant shift in the Democratic Party’s approach to emerging technologies. The upcoming conference in Nashville promises to be a landmark event, potentially setting the stage for a new era of crypto-friendly policies.

Other Key speakers

The upcoming Bitcoin Conference in Nashville will feature several prominent speakers. Donald Trump, the 45th President of the United States, will discuss his support for the American Bitcoin industry. 

Cathie Wood, founder and CEO of ARK Invest, will share her insights on disruptive innovation, while Michael Saylor, Executive Chairman of MicroStrategy, will discuss Bitcoin’s role in business. Other notable speakers include Russell Brand, Edward Snowden, and Vivek Ramaswamy. 

Expert Reveals Why XRP Will Never Be Classified as a Security

Lele Jima
-
0
Expert Reveals Why XRP Will Never Be Classified as a Security

Famous American wealth advisor Mickle suggests that Judge Analisa Torres’ declaration about XRP’s legal status dealt a heavy blow to the SEC’s case against Ripple.

Recall that Judge Torres declared that XRP in itself is not a security but can be sold as part of an investment contract, as reflected in the decision relating to institutional sales, which were found to be a violation of federal securities law.

Judge Torres Weakened the Foundational Basis of SEC Case

In a recent clip shared on X, Mickle emphasized that Judge Torres’ declaration about XRP not being security was “Dicta,” a legal term suggesting that an opinion is unnecessary to resolve the case.

However, Mickle claimed that the major reason the SEC introduced the Ripple lawsuit was to establish that XRP is indeed a security. The wealth advisor contended that the SEC cannot appeal Judge Torres’ factual determination, which indicates that XRP is not a security.

“So that kind of tanks the SEC’s entire case and throws this whole thing in the trash. So for the SEC to appeal this now, it just wouldn’t make any sense,” Mickle remarked.

Additionally, Mickle emphasized that the SEC’s case against Ripple is weak because of Judge Torres’ decision that XRP is not a security.

He added that it would be illogical for a party to bring a weak case to appeal, suggesting that appeals usually focus on stronger legal grounds.

Furthermore, the wealth expert characterized the Ripple lawsuit as the weakest case the SEC has brought against any entity. This commentary suggests that Judge Torres’ factual determination about XRP potentially weakened the foundational basis of the SEC’s lawsuit against Ripple.

SEC Not Willing to Appeal Ruling on XRP

It bears mentioning that the SEC had attempted to file an immediate appeal challenging Judge Torres’ summary judgment decision.

Notably, the SEC centered the appeal filing on the court’s decision regarding programmatic sales and other distributions of XRP, which were found to be non-investment contracts. At the time, the securities regulator emphasized that it was not pursuing any appeal relating to the decision regarding the underlying asset, XRP.

Although the court denied the SEC’s interlocutory appeal request, several experts speculated that the regulator would officially appeal Judge Torres’ summary judgment decision after the final verdict.

Despite this, they opined that the SEC will not appeal Judge Torres’ declaration that XRP is not a security.

XRP Price Forecast: $91 Potential Based on These 3 Indicators on Monthly Chart

Sam Wisdom Raphael
-
0
XRP Price Forecast: $91 Potential Based on These 3 Indicators on Monthly Chart

XRP price may experience a rally to $1.16 or a substantial surge to $91, influenced by three bullish indicators observed on the monthly chart.

The first indicator shows the XRP price achieving a monthly close above the upper Bollinger Band. Meanwhile, in the second indicator, XRP experiences a significant decline in the Historical Volatility metric. 

The third indicator involves a tightening of the Bollinger Bands, indicating reduced volatility. Notably, for a significant breakout to occur, these three indicators must occur in a progressive manner.

XRP Historical Data

A convergence of the three indicators was first observed in early 2017. Notably, in February 2017, the Historical Volatility metric dropped to a low of 123. This collapse coincided with a significant tightening of the Bollinger Bands, confirming the slump in volatility.

A month later, in March 2017, XRP recorded a monthly close above the upper Bollinger Band. The token ended the month at $0.02140, while the upper Bollinger Band stood at $0.01410. Interestingly, following this occurrence, XRP surged 15,544.1% from the March close of $0.02140 to a new all-time high of $3.31 in January 2018.

XRP Monthly Chart
XRP Monthly Chart

The pattern reappeared in late 2020. During this period, XRP’s Historical Volatility dropped to a new low of 138.22 in October 2020 as the Bollinger Bands tightened. A month after this, XRP recorded another monthly candle close above the upper Bollinger Band.

Specifically, XRP closed November 2020 at $0.6647, while the upper Bollinger Band stood at $0.4992. Shortly after this second occurrence, XRP price rallied 195.8%. This rally involved a surge from the November close of $0.6647 to a high of $1.9669 in April 2021.

While both occurrences led to significant price increases, the first rally was much larger due to its duration, lasting ten months. In contrast, the second rally lasted just five months.

XRP Price Eyes $1.16 or $91

Currently, XRP’s Historical Volatility has dropped to an all-time low of 102.93, the lowest ever recorded. In addition to this, the Bollinger Bands have also tightened significantly, indicating reduced market volatility.

These conditions mirror those seen prior to previous surges. Given that XRP is currently on a bullish trajectory if this trend continues into August, XRP price could close the month above the upper Bollinger Band, potentially setting the stage for another significant rally.

Depending on the duration of the rally, XRP could potentially increase by as much as 15,544% or a more modest 195%. A 15,544% rise from the current price of $0.56 would result in a new all-time high of $91. Conversely, a 195% increase from the current price would elevate XRP to $1.16.

The current market conditions present two factors that could cause XRP to take the 15,544% rally. One of these factors is the possible end of the SEC lawsuit, which is already in the remedies phase at press time. Second, the apex of XRP’s rally might align with the peak of the ongoing bull run.

Giant Whales Amass 140,000,000 XRP as Price Rallies to Three-Month High

Abdulkarim Abdulwahab
-
0
Giant Whales Amass 140,000,000 XRP as Price Rallies to Three-Month High

Market data shows that whales recently accumulated over 140 million XRP valued at around $84 million, coinciding with a major rebound in XRP price.

Over the past week, whales have made significant moves in the XRP market, driving its price upwards. Citing data from intelligence platform Santiment, market analyst Ali Martinez revealed that over 140 million XRP, valued at approximately $84 million, were bought by influential investors. 

This increased activity of whales has been reflected in various charts from Santiment, showcasing a clear correlation between whale holdings and price movements.

Whale Holdings Increase as XRP Price Hit Three-Months High

Martinez’s chart, extracted from Santiment, reveals that the price of XRP has seen a noticeable uptrend towards the start of this week. The chart shows a filled blue area representing the amount of XRP held by whale addresses, specifically those holding between 1,000,000 and 10,000,000 XRP.

Essentially, the tier of investors that have accumulated 140 million in the past week are those holding an average of 10 million XRP.

Remarkably, the increase in whale holdings coincided with a gradual rise in the price of XRP. Two weeks ago, XRP traded at around $0.385 but soared by over 65% last week to trade at $0.6366, its highest price since April.

This correlation suggests that whale accumulation contributed to the asset’s recent uptrend. In other words, as whales bought large quantities of XRP, the market responded with a positive price movement.

Growth in Total XRP Holders

Another key indicator of XRP’s market dynamics is the growing number of holders. Market data from Santiment illustrates a steady increase in the number of XRP holders in 2024, with a more pronounced rise to 5.25 million total holders during the recent price surge. 

Santiment chart on XRP
Santiment chart on XRP

This trend suggests that not only whales but also a broader base of investors are accumulating XRP. The simultaneous increase in both price and the number of holders reflects growing interest and confidence in XRP, driven by recent whale activities.

XRP Outperforms Ethereum

Interestingly, during this past week of major whale accumulation and XRP’s price gain, the asset’s performance outpaced the trajectory observable with Ethereum, the altcoin market leader.

As The Crypto Basic reported today, XRP outperformed ETH by 34.24% over two weeks. This suggests that an investor who bought XRP during its dip instead of ETH would have achieved significantly higher returns. This performance highlights XRP’s strong market position and the influence of significant whale activity on its price.

XRP is currently priced at $0.6027 after seeing a 24-hour trading volume of $1,743,440,225. This price represents a 7.67% increase over the past seven days. 

Ethereum ETFs Surge: $112M in Trading Volume Within 15 Minutes Post-SEC Approval

Abdulkarim Abdulwahab
-
0
Ethereum ETFs Surge: $112M in Trading Volume Within 15 Minutes Post-SEC Approval

Following the SEC greenlight to commence trading, nine Ethereum spot exchange-traded funds have recorded $112 million in volume in under 15 minutes of trading.

On Monday, the U.S. SEC approved the registration statements of nine Ethereum spot ETFs, allowing the products to commence trading. The agency disclosed that S-1 applications of Ethereum ETF seekers became effective on July 22.

Notably, the effectiveness applies to Invesco & Galaxy, Fidelity, 21Shares, Franklin, BlackRock, Grayscale, Bitwise, VanEck, and Grayscale Mini ETF filings.

Ethereum Spot ETFs Permitted to Trade

The SEC’s latest endorsement follows multiple rounds of amendments to issuers’ S-1 applications in recent weeks after the initial approvals in late May. It marked the culmination of a years-long effort to bring Ethereum ETFs to the market following the regulator’s greenlight of Bitcoin ETFs in January. 

By wrapping Ethereum in an ETF, the funds become more accessible to traditional investors, who can buy and sell them through their usual brokerage accounts. 

“We’ve now fully entered the exchange-traded funds era of crypto,” exclaimed Matt Hougan, chief investment officer at Bitwise, in a statement.

The success of Bitcoin ETFs, which have drawn in tens of billions of dollars in investment since their January debut, suggests a similar trajectory for ether ETFs.

Ethereum Spot ETFs Record $112M Volume Under 15 Minutes

Interestingly, the newly approved Ethereum ETFs have already seen a significant influx of capital, with trading data revealing a remarkable start. In a post on X, Bloomberg’s senior ETF analyst Eric Balchunas called attention to the latest trading data. 

The report revealed that the group had seen a total of $112 million in trading volume within the first 15 minutes, a substantial amount compared to a typical ETF launch. Although the figure is only about half the volume pace seen on the first day of Bitcoin ETFs, Balchunas notes that 50% is still an impressive feat.

A breakdown of the data shows that Grayscale’s ETHE led the pack with $39.7 million in volume, followed closely by Bitwise’s ETHW with $25.5 million. 

BlackRock’s ETHA and Fidelity’s FETH also saw significant activity, with volumes of $22.5 million and $15.2 million, respectively. Meanwhile, ETFs from VanEck, Invesco, Franklin, and 21Shares have seen more modest volumes, with each below $5 million at the time of reporting.

Bloomberg: Ripple CEO Confident in SEC Lawsuit Resolution After Next Week’s Meeting

Albert Brown
-
0
Bloomberg: Ripple CEO Confident in SEC Lawsuit Resolution After Next Week’s Meeting

Ripple CEO expressed confidence in resolving the prolonged legal battle with the U.S. Securities and Exchange Commission (SEC) soon after a meeting next week.

According to Bloomberg, Brad Garlinghouse, the Ripple CEO, hinted that a settlement might soon be reached, particularly after a closed-door meeting with the SEC next week.

Although the CEO did not explicitly confirm ongoing settlement talks, his optimistic remarks point towards a conclusion of the litigation that has spanned years.

It is important to note that speculation has intensified around a potential settlement announcement amid the upcoming meeting, initially expected last week but now postponed to next Thursday, July 25. This delay, as noted on the SEC’s website, has heightened anticipation among crypto traders. 

The meeting’s agenda includes critical topics such as the institution and settlement of administrative proceedings, resolution of litigation claims, and other examination-related matters. Despite the rescheduling, the market remains hopeful about a positive outcome.

Industry Optimism Post-Judge Torres’ Decision

Notably, a year has passed since Judge Torres’ pivotal summary judgment, which legally clarified that XRP is not a security. This judgment has been influential, inspiring similar rulings in cases like Binance, and challenging the SEC’s stance under Chair Gensler. 

For instance, Ripple’s Chief Legal Officer, Stuart Alderoty, emphasized that the court’s decision represents a significant check on the SEC’s overreach. He criticized the continued litigation for individual tokens and urged policymakers to expedite legislative clarity to prevent the U.S. from lagging globally in the crypto sector.

Brett Hill, a Bitrue Ambassador, on his hand, has reportedly projected an exciting future for Ripple, anticipating an IPO and an XRP ETF this year or 2025 following a lawsuit victory. 

We Can’t Predict When Exactly

Recall in a July 18 report, the Ripple CEO expressed optimism about reaching a final resolution. During the recent Bloomberg interview, he acknowledged the uncertainty in predicting the timing of the highly anticipated final judgment. 

Ethereum ETFs Trading Officially Starts in US: Grayscale Launches 2 Spot ETH Products, BlackRock and VanEck Introduce ETH ETFs on Websites

Lele Jima
-
0
Ethereum ETFs Trading Officially Starts in US: Grayscale Launches 2 Spot ETH Products, BlackRock and VanEck Introduce ETH ETFs on Websites

As multiple Ethereum spot ETFs trading officially commences today, these are some of latest updates surrounding the recently approved products.

Grayscale Launches 2 Spot Ethereum Products on NYSE Arca 

Grayscale Investments, the world’s largest crypto asset manager, announced the official launch of its Ethereum Mini Trust (ETH). According to an announcement today, the ETH product launched alongside the company’s converted Ethereum Trust ETF (ETHE) on NYSE Arca, a leading U.S.-based ETF exchange. 

Grayscale Approval Delayed 

This development comes barely 24 hours after the U.S. SEC approved the final applications for Ethereum spot exchange-traded funds (ETFs). The SEC had approved the exchange filings for spot Ethereum ETFs in May but delayed its decision on the S-1 documents. 

Interestingly, the securities regulator finally approved the trading of spot Ethereum ETFs after signing off on the S-1 documents yesterday. 

Despite the SEC’s approval of multiple Ethereum spot ETFs yesterday, Bloomberg analyst James Seyffart revealed that Grayscale’s ETH and ETHE ETFs had not received the SEC’s approval to commence trading. 

In the X post, Seyffart anticipated that the SEC would finalize the effective documents before trading commences today.

Following this disclosure, it appears Grayscale has now received the necessary approval as both its Ethereum Mini Trust ETF and the converted Ethereum Trust ETF have commenced trading on NYSE Arca. 

Difference Between Grayscales’ Ethereum Mini Trust and ETHE 

According to Grayscale, the Ethereum Mini Trust will grant traditional investors exposure to Ethereum at a relatively lower cost. Notably, the company announced a 0% fee waiver for the first six months of trading or until the fund hits $2 billion in assets under management (AUM).

Upon attaining any thresholds, Grayscale will introduce a 0.15% sponsor fee for the Ethereum Mini Trust. However, investors of Grayscale’s converted Ethereum Trust ETF will pay a 2.5% management fee.   

BlackRock and VanEck Redesign Website to Introduce Ethereum ETFs

Meanwhile, top asset managers whose Ethereum spot ETF applications were approved have been making significant efforts to attract potential investors to their products. 

In particular, BlackRock released an educational video for its spot-based Ethereum ETF (ETHA). According to the video, Jay Jacobs, BlackRock’s U.S. Head of Thematic and Active ETFs, claimed that ETH’s appeal lies in its utility. 

He added that Ethereum serves as a global platform for decentralized applications (dApps), which operates without centralized intermediaries. 

Furthermore, the company has also redesigned its iShares website to feature the recently approved Ethereum spot-based ETF. 

BlackRock introduces ETHA on its iShares website
BlackRock introduces ETHA on its iShares website

Interestingly, other issuers like VanEck have followed suit and redesigned their website homepages to showcase their respective spot ETH funds. 

Update on All Approved Funds 

For context, there are currently nine Ethereum spot-based exchange-traded funds from eight issuers. They include Grayscale Mini Trust (ETH), Grayscale Ethereum Trust (ETHE), 21Shares Core Ethereum ETF (CETH), VanEck Ethereum ETF (ETHV), Franklin Ethereum ETF (EZET), Bitwise Ethereum ETF (ETHW), BlackRock’s iShares Ethereum Trust (ETHA), Fidelity Ethereum Fund (FETH), and Invesco Galaxy Ethereum ETF (QETH). 

Grayscale offers the cheapest and most expensive fees through two ETH ETF products. While the Grayscale Mini Trust offers a 0.15% post-waiver fee, the company’s converted Ethereum Trust ETF will charge a 2.5% management fee. 

The fees for the other funds range between 0.19% and 0.25%. Notably, Coinbase will serve as the custodian of seven of the funds, including ETHA, ETH, ETHE, EZET, ETHW, QETH, and CETH. However, Fidelity will provide custody for its Ethereum fund while Gemini exchange will act as custodian for VanEck’s ETHV. 

Arkham Tracks Ethereum ETF Addresses as They Officially Commence Trading 

In a tweet today, leading blockchain analytic firm Arkham Intelligence shared details of the on-chain addresses affiliated with all spot-based Ethereum ETFs. The blockchain platform claims to be the first data provider to identify these addresses publicly.  

In the meantime, spot Ethereum ETF trading officially commenced today at 9:30 AM (EST). 

1...1,3471,3481,349...2,666Page 1,348 of 2,666