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[Source: Ethereum ETF issuer will respond to the US SEC's comments on the S-1 form before Friday]
According to The Block , citing two sources, ETF issuers received comments from the U.S. Securities and Exchange Commission (SEC) on their S-1 forms last week, with a response deadline of this Friday.
While the issuers’ Form 19b-4 was approved in May, they still need their Form S-1 to become effective before they can begin trading. There is no strict deadline for this process, and the forms are currently being reworked and sent back to the SEC for further comments and then reworked again until they are ready.
A source at one publisher said the latest round of opinions were “reasonable” and they expected approval soon, while a source at another publisher described them as “light”.
“I estimate that publishers will submit applications soon this week and then we will know how many more rounds of review are needed,” the second source said.
[ Bitwise submits revised S-1 filing for its spot Ethereum ETF to the US SEC ]
Bloomberg analyst James Seyffart said on the X platform that Bitwise has submitted a revised S-1 filing for its spot Ethereum ETF to the U.S. SEC, which will include changes after the SEC's first round of comments. It is not clear whether more rounds of comments are needed. The cost of the product has not yet been disclosed.
"Based on this filing, there's no way of knowing when these products will launch," the analyst said. "They may not require any additional updates, and may need to be tweaked. But they require final approval from the SEC, and the timing of the launch depends largely on the SEC. Eric Balchunas and I 'think' they should be launched before July 4."
[Trump: I will end Biden's war on cryptocurrency and ensure that the future of cryptocurrency and Bitcoin is created in the United States]
Fox Business reporter Eleanor Terrett posted on the X platform that former US President Donald Trump talked about encryption and Bitcoin at a campaign rally in Racine, Wisconsin today.
He claimed: “I will end Joe Biden’s war on cryptocurrency, and we will ensure that the future of cryptocurrency and the future of Bitcoin will be created in the United States, otherwise, other countries will have it.”
[Nvidia surpasses Microsoft and Apple to become the world's highest market value stock]
In midday trading on Tuesday, chipmaker Nvidia's shares rose 3.2%, bringing its market value to $3.33 trillion, making it the world's most valuable stock, surpassing Microsoft.
Earlier this month, Nvidia's market value exceeded $3 trillion for the first time, surpassing Apple. So far this year, Nvidia's stock price has risen more than 170%, and after the company announced its first-quarter results in May, the stock price rose further. Since the end of 2022, the stock has risen more than 9 times.
[ CryptoQuant : Bitcoin may trigger a correction of 8%-12% after falling below $65,800]
CryptoQuant analysts said that the Bitcoin price has fallen below the trader's on-chain realized price of $65,800, which is a key support level in the bull market. As Bitcoin has fallen below the key price support level, it may indicate an 8%-12% correction and may cause the price to fall to $60,000.
CryptoQuant Market Report states that while Bitcoin has fallen below this key level, downside pressure may be limited. Nevertheless, "the market lacks bullish momentum". CryptoQuant analysts added that traders are still not increasing their Bitcoin holdings, and demand growth from large players or "whales" remains weak. In addition, stablecoin liquidity continues to decelerate, with the growth rate being the lowest since November 2023.
[ K33 Research: Ethereum ETP achieved net inflows for the fourth consecutive week, outperforming Bitcoin ETP]
According to K33 Research, Ethereum ETPs saw net inflows for the fourth consecutive week, totaling 16,911 ETH. Meanwhile, Bitcoin ETPs saw net outflows of 12,523 BTC, the third worst week so far, driven primarily by net outflows from U.S. spot Bitcoin ETFs.
K33 analysts Vetle Lunde and David Zimmerman wrote in a report on Tuesday that global Ethereum ETPs have seen net inflows of 86,472 ETH, worth about $300 million, over the past four weeks.
Author: BitpushNews Mary Liu
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