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☆ The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing
▼ + stars: | 2024-06-01 | by ( Emily Glass | ) www.cnbc.com time to read: +1 min

"This is really one of the most amazing things that I've seen in my career with respect to securities regulation," van Eck told CNBC's "ETF Edge" this week. VanEck was the first to apply to the SEC for permission to list its proposed Ethereum ETF. So the first reaction was to get the ETF, Ethereum ETF approval green lighted," he said. To van Eck, the buzz around Ethereum this May means clearer regulation on the horizon and an increased investor interest in crypto. Ether spiked on the SEC's approval of applications to list Ethereum ETFs on May 23, but is virtually flat since then.

Persons: Jan van Eck, van Eck, CNBC's, VanEck, Van Eck Organizations: U.S . Securities, Exchange, SEC, ETH, Innovation, Technology, Century

☆ Bitcoin investors see sideways trading in June as focus turns to Washington
▼ + stars: | 2024-06-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

That's thanks to last week's ether-led rally ahead of the SEC's approval of a rule change allowing ether ETFs in the U.S., when ether surged 20% in two days. Now, aspiring sponsors of ether ETFs need to file their S-1 registration forms for the individual funds. Until then, crypto is without a clear catalyst, with bitcoin ETFs and the halving in the rear view window. Bitcoin miners struggle after the halving Elsewhere, the bitcoin price could see some pressure from miner selling. Market watchers anticipated this would hppen after April's bitcoin halving, which slashed a key revenue source – the block reward – for bitcoin miners.

Persons: cryptocurrency, Antoni Trenchev, Bitcoin, Trenchev, Yuya Hasegawa, Hasegawa, Julio Moreno, there's Organizations: Metrics, SEC, Federal Locations: U.S, Washington

☆ Bitcoin is undergoing a tech expansion that one expert says will drive 5-fold growth in just 2 years
▼ + stars: | 2024-06-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

Bitcoin's blockchain is slowly becoming more than just a buy-and-hold platform. Ethereum underwent a similar trend, leading to its massive rally in 2021, Bitget CEO Gracy Chen told Business Insider. Advertisement"The Ordinals protocol enabled the growth of memecoins on the bitcoin blockchain, leading to a surge in liquidity within the BTC ecosystem in record time. That's based on the Total Value Locked, or the amount of assets staked on the bitcoin protocol. However, even a twofold weaker surge could still result in a fivefold increase in the leading cryptocurrency's value," Chen wrote in a note.

Persons: Gracy Chen, —, Chen, That's, ethereum, Mining Brian Wright, there's Organizations: Ethereum, Service, BTC, ETH, cryptominers, Mining, Galaxy Locations: memecoins, bitcoin

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther soars 27% in May after SEC clears path for spot ether ETFs: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Ripple CEO Brad Garlinghouse and Kraken's Chief Legal Officer Marco Santori discuss crypto regulation from Consensus 2024.

Persons: explainers, Brad Garlinghouse, Marco Santori Organizations: SEC, CNBC Crypto, CNBC

☆ Ether could surge 500% this cycle as new ETFs trigger a massive bull run, crypto expert says
▼ + stars: | 2024-05-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The price of ether will climb to between $15,000 and $22,500 this cycle, SynFutures CEO Rachel Lin says. "Now the spot ETH ETF is approved, all indicators indicate a massive ETH bull run in the coming months," she said. AdvertisementThe positive verdict on spot ether ETFs last week will kickstart a price rally, according to Rachel Lin, the CEO of SynFutures. Today, 20 months since that date, ETH supply remains at the same 120 million," Lin said. Now the spot ETH ETF is approved, all indicators indicate a massive ETH bull run in the coming months," Lin wrote.

Persons: Rachel Lin, —, Lin, Dow Jones, Ethereum, bitcoin Organizations: Service, Ethereum, bitcoin, Dow, NASDAQ, Standard Chartered, Chartered

☆ Dollar ebbs as markets await key global inflation reports
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, a person is seen holding 100, 50, and 5 U.S. dollar bills in his hand. The dollar waned on Tuesday following a slight pick up in risk appetite, but it held tight ranges against its peers ahead of key inflation data from major economies this week that markets are looking to for guidance on the global interest rate outlook. The euro was a touch firmer at $1.0860 despite some dovish comments from European Central Bank policymakers on Monday and data showing German business morale stagnated in May. Down Under, the Aussie edged 0.03% higher to $0.6657, with the country's monthly consumer price index data also due on Wednesday. BOJ Governor Kazuo Ueda said on Monday the central bank will proceed cautiously with inflation-targeting frameworks, noting that some challenges are "uniquely difficult" for Japan after years of ultra-easy monetary policy.

Persons: Rodrigo Catril, Sterling, NAB's, Kazuo Ueda, bitcoin Organizations: U.S, European Central Bank, ECB, National Australia Bank, New Zealand, Down, Bank of Japan Locations: Asia, Britain, United States, U.S, Tokyo, Japan

☆ SEC embrace of ether ETFs highlights cryptocurrency's shifting political fortunes
▼ + stars: | 2024-05-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The newly opened door to ether ETFs is part of a larger story that dominated cryptocurrency markets last week: the industry's political tides appear to be shifting in its favor. Expectations of an approval were low as the week began, but flipped completely and suddenly last Monday — sending ether up 20% . Many are hailing FIT 21 as a landmark victory for the industry. "I'd be surprised if FIT 21 or something like it actually becomes law this year," said Thorn. It does portend a sweeping change in [the] Democratic leadership approach to this industry, and that can only help crypto."

Persons: Biden, Donald Trump, Rachel Lin, Oppenheimer, Owen Lau, Lau, Alex Thorn, didn't, Kirsten Gillibrand, Cynthia Lummis, I'd Organizations: Securities and Exchange Commission, SEC, Representatives, SAB, Innovation, Technology, Futures Trading Commission, CNBC, Galaxy Digital, Senate, Gillibrand, Democratic

☆ Dollar firm ahead of global inflation data
▼ + stars: | 2024-05-27 | by ( ) www.cnbc.com time to read: +4 min

The dollar made a steady start to the week, as investors were focused on U.S., European and Japanese inflation data to guide the global interest rate outlook. The euro , which gained 0.9% on the dollar last week, was in the middle of a range it has held for more than a year at $1.0846. German inflation on Wednesday and euro zone readings on Friday will be watched for confirmation of a European rate cut that traders have priced for next week. The dollar had fallen back after data showed a slowdown in consumer price rises in April and disappointing retail sales, before strengthening last week thanks to better-than-expected PMI survey data. China's yuan finished last week weaker than 7.24 per dollar, its lowest level since early May.

Persons: Sterling, Bob Savage, BNY, China's, Scott Gold, would've, Justin D'Anethan Organizations: New, U.S, Federal, Swiss, Tokyo CPI Locations: Britain, United States, U.S, Asia, New York

☆ Former SEC chief Jay Clayton breaks down approval of spot ether ETF applications
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer SEC chief Jay Clayton breaks down approval of spot ether ETF applicationsJay Clayton, former SEC chairman, joins 'Squawk Box' to discuss the SEC's decision to approve spot Ether ETF applications, what's different about this round of the ETF applications, and if the SEC's news is related in any way to the crypto bill passed in the House of Representatives.

Persons: Jay Clayton Organizations: Former SEC, SEC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther falls after SEC approves rule change that would open door for spot ETH ETFs: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Hany Rashwan, CEO of 21Shares, one of the potential issuers of spot ether ETFs in the United States, explains what comes next after the SEC approved a rule change that would pave the way for the products.

Persons: explainers, Hany Rashwan Organizations: SEC, ETH, CNBC Crypto, CNBC Locations: United States

☆ Jim Cramer runs through 4 stock movers and why he owns and believes in cryptocurrency ether
▼ + stars: | 2024-05-24 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Workday : The HR software company cut its subscription revenue outlook, and the stock was being punished Friday, down 13.5%. "Everybody in the country is trying to scale back" human resources, Jim Cramer said Friday, adding that's the problem. The stock Wednesday finished well off the highs for the session and then went down and up Thursday and Friday. Cramer said "Deckers is very well run company" but warned that footwear and apparel "can be fickle." Cramer said he owns ether in his personal portfolio.

Persons: Jim Cramer's, Jim Cramer, Cramer, UGGs Organizations: CNBC, Club, HR, Ross Stores, Ross, Intuit, SEC, U.S . Locations: Maxx

☆ Ether ETFs without staking would hurt total returns, says CoinShares' Steven McClurg
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther ETFs without staking would hurt total returns, says CoinShares' Steven McClurgSteven McClurg, CoinShares head of US asset management, joins 'Closing Bell: Overtime' to discuss the Ethereum ETF and why he’s not investing in it.

Persons: CoinShares, Steven McClurg Steven McClurg

☆ Stocks making the biggest moves midday: Workday, Lucid, Toast, Deckers and more
▼ + stars: | 2024-05-24 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Ross Stores posted earnings of $1.46 per share on $4.86 billion in revenue. Revenue came out at $2.77 billion, slightly higher than analysts' forecast of $2.72 billion. Intuit forecast adjusted earnings of $1.80 per share to $1.85 per share, while analysts polled by FactSet expected $1.92 per share. Toast — Shares of the financial tech company, which specializes in point-of-sale products for restaurants, gained nearly 1%. Workday forecast subscription revenue of $1.895 billion, while the consensus forecast called for $1.9 billion, per StreetAccount.

Persons: Booz Allen Hamilton, Booz Allen, Robinhood, FactSet, Moshe Katri, Katri, LSEG, —, Jesse Pound, Tanaya Macheel, Alex Harring, Samantha Subin Organizations: Ross Stores, Ross, LSEG, Revenue, U.S . Securities, Exchange Commission, Intuit —, Intuit, Food and Drug Administration

☆ Ether prices on pace for best week in a year after SEC approves ETF applications
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther prices on pace for best week in a year after SEC approves ETF applicationsCNBC's Tanaya Macheel has the latest news on Cyprtocurrency and ETFs.

Persons: Macheel Organizations: SEC

☆ Friday's rapid-fire: Workday, Ross Stores, Deckers, Intuit and Ether
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFriday's rapid-fire: Workday, Ross Stores, Deckers, Intuit and EtherJim Cramer runs through four stocks and a cryptocurrency that are outside the CNBC Investing Club portfolio.

Persons: Jim Cramer Organizations: Ross Stores, Intuit, CNBC, Club

☆ Ether slips after SEC opens the door to ether ETFs, still heads for best week in more than a year
▼ + stars: | 2024-05-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

It's holding on to its weekly gain of 20%, and is on pace for its best week in more than a year. Earlier this week surged more than 20% over two days, as expectations of an SEC approval of ether ETF applications changed abruptly. By contrast, in the weeks leading up to approvals for bitcoin ETFs, the SEC was reported to be engaging actively with fund issuers. Coinbase , which may be a beneficiary of ether ETFs, was more than 1% in premarket trading, while Robinhood nearly 1%. Cryptocurrency prices, including ether's, may also be tempered by the Thursday afternoon stock market sell-off.

Persons: Rachel Lin, Ether, Alex Saleh, Coinbase, bitcoin Organizations: Metrics, Securities and Exchange Commission, SEC

☆ Ether could surge 60% after ETFs are approved, trading firm says
▼ + stars: | 2024-05-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The price of ether could rise 60% if spot ETFs are approved, QCP Capital wrote. The previous success of spot bitcoin ETFs serves as an example of potential upside. Eyes are currently on the second-biggest cryptocurrency as US regulators are deciding on whether to approve the first ether spot ETFs in the country. That token's stellar run was set off in mid-January when the SEC similarly greenlit spot bitcoin ETFs. What's more, head of FX Research Geoff Kendrick wrote that the spot ether ETFs are unlikely to stumble on the same issues that tormented bitcoin, such as heavy inflow volatility.

Persons: —, bitcoin, QCP, Geoff Kendrick Organizations: QCP, SEC, Service, BlackRock, [ Depository Trust, Clearing Corporation, Chartered, FX

☆ A key ether ETF deadline arrives, but SEC's Gensler won't tip his hand on approval or denial
▼ + stars: | 2024-05-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Circuit ruled against the SEC's denial of spot bitcoin ETFs, the regulatory agency "pivoted" and approved those funds in January. The bill sets up a regulatory framework for crypto assets. Gensler said crypto assets — and exchanges in particular exchanges — do not meet this test: "This field is not decentralized. He said crypto exchanges are "operating in ways that are conflicted in ways that traditional exchanges [are not]. Gensler says he is not against financial innovation The SEC chairman pushed back against the claim he was against financial innovation.

Persons: Gary Gensler, Eric Pan, Gensler, Joe Biden's, Pan, We'd Organizations: SEC, U.S . Securities, Exchange Commission, Investment Company, ICI Leadership Summit, U.S ., Appeals, Representatives, Innovation, Technology, Century, Futures

☆ SEC approves spot Ether ETFs
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEC approves spot Ether ETFsCNBC's Contessa Brewer joins 'Fast Money' with breaking news on the SEC's decision on Ether ETFs.

Persons: Contessa Brewer Organizations: SEC

☆ U.S. Approves Investment Product Tied to Popular Cryptocurrency Ether
▼ + stars: | 2024-05-23 | by ( David Yaffe-Bellany | More About David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Federal regulators on Thursday approved an investment product tied to the cryptocurrency Ether, the most valuable digital asset after Bitcoin, in a major boost for the crypto industry. The Securities and Exchange Commission said a group of exchanges could begin listing investment products known as exchange-traded funds, or E.T.F.s, linked to the price of Ether. approved similar products that track the price of Bitcoin, leading to a flurry of new investment that helped propel Bitcoin’s price to a record high. Before the exchanges can start offering Ether E.T.F.s, the S.E.C. must also approve a separate set of applications from companies that want to issue them, including from major financial firms like BlackRock and Franklin Templeton.

Persons: Franklin Templeton Organizations: Securities, Exchange Commission Locations: BlackRock

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSpot ether ETFs could be part of a political shift tied to crypto: Galaxy Digital's Alex ThornAlex Thorn, head of research at Galaxy Digital, reacts to the House passing a crypto regulatory framework bill. He also provides his expectations ahead of a decision from the SEC on spot ether ETFs.

Persons: Alex Thorn Alex Thorn Organizations: Galaxy Digital, SEC

☆ Dollar hovers near highest in a week after hawkish Fed minutes
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +3 min

The yen l anguished just above a three-week low despite the continued threat of intervention by Japanese officials. The dollar index, which tracks the currency against six major rivals including the euro , sterling and yen, was little changed at 104.89 after gaining 0.28% overnight. The dollar was little changed at 156.77 yen after rising to 156.85 overnight, the highest since May 1. Traders and analysts suspect Japan's Ministry of Finance intervened several times to support the yen following its plunge to a 34-year low of 160.245 per dollar on April 29. Bigger rival bitcoin was little changed at $69,491 after reaching $71,957 on Tuesday for the first time since April 9.

Persons: Sterling, Ether, James Kniveton, Japan's, Rishi Sunak, bitcoin Organizations: Bank of Japan, Reserve, Federal, Traders, of Finance, Bank of England, Conservatives, Labour Party, Labour, Securities

The SEC has approved a rule change Thursday that would pave the way for ETFs that buy and hold ether , one of the world's largest cryptocurrencies. The decision comes less than six months after the Securities and Exchange Commission approved bitcoin ETFs. Many of the companies that sponsor bitcoin ETFs — including BlackRock, Bitwise and Galaxy Digital — have also started the process of the launching an ether fund. Specifically, the SEC's order approves applications from various exchanges to list eight different ether funds. Ether ETFs are expected to be smaller, at least initially, than their bitcoin counterparts.

Persons: FactSet, Richard Kerr, Kerr, Ethereum, Steven Lubka, Swan, Lubka Organizations: SEC, Securities and Exchange Commission, Galaxy, Swan Locations: BlackRock, Bitwise, U.S

☆ What's next after the House passed bill outlining a crypto regulatory framework: CNBC Crypto World
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat's next after the House passed bill outlining a crypto regulatory framework: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Alex Thorn, head of research at Galaxy, reacts to the House passing a crypto regulatory framework bill. Plus, he gives his expectations ahead of a decision from the SEC on spot ether ETFs.

Persons: What's, explainers, Alex Thorn Organizations: CNBC Crypto, CNBC, Galaxy, SEC

☆ Here's how Coinbase would benefit from U.S. ether ETFs if approved, according to JMP
▼ + stars: | 2024-05-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Coinbase is poised to benefit from U.S. spot ether exchange-traded funds, if they are approved, according to JMP Securities. The turnaround sent ether soaring more than 20% to start the week. ETH.CM= 5D mountain Ether 5-day chart JMP's Devin Ryan said in a note Wednesday that Coinbase could see benefits to its transaction, custody and staking businesses as a result of the introduction of ether ETFs. He also said an ether ETF approval does not necessarily signal a blessing by the SEC of the broader crypto asset class, or even comfort around all ETH use cases, such as staking. JMP has an outperform rating on Coinbase and a price target of $320, implying nearly 42% upside from Tuesday's close.

Persons: Coinbase, Devin Ryan, Ryan, JMP Organizations: JMP Securities, U.S . Securities, Exchange Commission, SEC, Fidelity, Management Locations: Base, BlackRock

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