🔵 #Can BTC Break $110K?#
Bitcoin recently broke above $107,000 and is currently trading around $105,000, just shy of its all-time high at $109,580. Do you think Bitcoin can set a new record and push past $110,000? Share your analysis and predictions with us!
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According to CoinGecko, the total market cap of the AI agent sector has rebounded to $6.862 billion, with a 1.2% increase in the past 24 hours. Notably, VIRTUAL surged 18.5%, and AI16Z rose 7.1%. Which AI tokens are you bullish on? How are you planning your portfolio strategy? Let’s hear your thoughts!
The Ethereum ETF is expected to launch in June as BlackRock recently filed Form S-1.
BlackRock has updated its Form S-1 on the Ethereum ETF Spot, a good sign that issuers and the SEC are working to prepare for ETF launches.![]()
The trading funds for Ethereum ETF Spot in the United States are expected to launch legally at the end of June, according to analysts, after BlackRock updates the necessary profile for issuance.
On May 29, BlackRock updated Form S-1 for iShares Ethereum Trust (ETHA) with the SEC, nearly a week after the agency approved their 19b-4 application (both of which need approval for the ETF to begin trading).
Bloomberg's ETF analyst, Eric Balchunas, said in a post on X on May 29th.
There may be another round to "fine-tune" the SEC's comments, but "the possibility of a legal launch will come at the end of June." However, Balchunas maintains his approval deadline around July 4, adding that the likelihood of earlier approval is quite low.
Bloomberg's ETF analyst, James Seyffart, said that the update of BlackRock's Form S-1 is almost certainly the interaction we are looking for as it shows "issuers and the SEC are working towards the launch of the Ethereum ETF Spot."
This is almost certainly the engagement we were looking for on the S-1’s following the 19b-4 approvals. Issuers and SEC are working towards spot Ethereum ETF launches.
> — James Seyffart (@JSeyff) May 29, 2024
Form S-1 amendment from BlackRock provided information about initial capital investors, fund distributors to enable it to start trading.
"On May 21, a BlackRock affiliate agreed to purchase $10,000,000 worth of shares on May 21, 2024, and on May 21, 2024, received 400,000 shares at a price of $25.00 per share," the filing stated.
The profile also indicates that the ETF will be listed and traded under the ticker "ETHA."
This happened on the same day as a record showed that Hashdex withdrew its application for an Ethereum ETF Spot just one day after the SEC approved it along with BlackRock and seven other issuers. It seems that Hashdex is no longer intending to proceed with a standalone Ethereum ETF.
Analysts believe that ETFs will push ETH to new highs and speculate that Wall Street will use it as a bet on the development of Web3. Others speculate that ETH could face price pressure as Grayscale Ethereum Trust (ETHE) could see up to $110 million of daily outflows in the first few weeks after it converts at a narrowing discount.
VIC Crypto Digest