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[Franklin Templeton submits revised S-1 filing for its spot Ethereum ETF, with a sponsor fee of 0.19%]
Franklin Templeton filed an amended S-1 form with the U.S. Securities and Exchange Commission for its spot Ethereum ETF on Friday. According to its filing, Franklin Templeton plans to charge a sponsor fee of 0.19%, which is the same percentage charged for its spot Bitcoin ETF (EZBC) in August and is the lowest among similar products.
Bloomberg senior ETF analyst Eric Balchunas was quick to comment on the proposed fees, saying on Xplatform: “The first shot in the ETH ETF fee war has been fired by Franklin.”
[ VanEck and Invesco Galaxy have filed revised S-1 documents for their spot Ethereum ETF]
VanEck and Invesco Galaxy filed revised S-1 documents for their spot Ethereum ETF applications. VanEck stated in its latest revised S-1 document that it received $100,000 in seed investment. Invesco Galaxy added in its latest revised S-1 document that Bank of New York Mellon will serve as a cash custodian, while Coinbase Custody Trust Company LLC will serve as a custodian of ETH.
It is reported that the SEC requires potential Ethereum ETF spot issuers to submit a revised S-1 form by Friday. However, it may take several weeks for the S-1 form to take effect and for new financial products to begin trading.
[ Uniswap postpones protocol upgrade vote, UNI falls nearly 9% in the short term]
The Uniswap Foundation announced on Friday that it had postponed a vote on a proposed upgrade that would have provided rewards to UNI holders who staked and delegated their tokens.
The foundation said: "Last week, a stakeholder raised new issues related to this work that require additional effort for us to fully review. Due to the irreversible nature and sensitivity of our proposed upgrades, we have made a difficult decision to postpone the announcement of this vote. This was unexpected, and we apologize for the delay. We will keep the community informed of any major changes and will update everyone once we have more certainty about future timelines."
On this news, Uniswap (UNI) fell 8.75% to $10.20.
[Japanese crypto exchage DMM Bitcoin was hacked and 4502.9 BTC was stolen, with a loss of US$305 million]
Japanese cryptocurrency exchange DMM Bitcoin suffered a $305 million hack, with 4,502.9 bitcoins reportedly stolen from the exchange. DMM Bitcoin said it would guarantee the full amount of the stolen funds, and all spot purchases are currently subject to temporary restrictions, and customers withdrawing yen may face delays.
It is reported that this is the second largest hacker attack loss amount for Japanese cryptocurrency exchanges. In 2018, Coincheck was hacked and lost 58 billion yen.
[Ark 21Shares Ethereum ETF changed its name, ARK Invest no longer serves as a partner of the fund]
According to an amended Form S-1 filed late Friday, the ETF previously named Ark 21Shares Ethereum ETF was changed to 21Shares Core Ethereum ETF, and ARK Invest will not serve as a partner in the ETF.
A 21Shares spokesperson added that 21Shares and ARK will continue to work together on the ARK 21Shares Bitcoin ETF, which launched in January, as well as other existing futures products.
An ARK spokesperson said in a statement that the company “will not be moving forward with an Ethereum ETF” but remains committed to the ARK 21Shares Bitcoin ETF.
[ Vitalik Buterin retweeted a tweet from 2022, saying that "a lot of the hatred for LUNA seems to come from the ETH camp"]
Ethereum co-founder Vitalik Buterin retweeted a 2022 tweet about LUNA that read: "Found that a lot of the hatred for LUNA seems to come from the ETH camp."
[ Coinbase accuses the US SEC of trying to "destroy" the crypto industry and urges the agency to formulate rules]
In a 36-page closing argument filed Friday with the Third Circuit Court of Appeals, Coinbase said cryptocurrency companies are caught in a "Catch-22." Coinbase said the SEC requires companies to comply while also filing lawsuits against those companies that fail to comply and refusing to write rules.
“This pattern of behavior is a deliberate effort to destroy an industry by demanding the impossible and suing companies that fail to deliver,” Coinbase said in its brief, adding that the agency is trying to achieve a major policy change.
“The SEC claims that its position on digital assets has never changed. This is not true, and the SEC’s contrary evidence consists of little more than abstract statements that the application of securities laws to digital assets depends on ‘facts and circumstances,’” the exchange said.
Author: BitpushNews Mary Liu
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