Crypto Weekly Roundup: Ethereum ETFs Are Live, US Passes Landmark FIT21 Bill, & More

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As a researcher with extensive experience in the blockchain and cryptocurrency industry, I’m thrilled to see the SEC’s recent approval of all spot Ethereum ETF applications. This landmark move represents a significant step forward for the crypto industry as a whole and could lead to increased institutional investment and mainstream adoption.

This week marked a major development as the SEC made another pivotal decision following its approval of the Bitcoin ETF in January 2024. After prolonged delays, all Ethereum spot ETF applications have been given the green light by the securities regulator. Let’s explore the implications of this groundbreaking action for the industry.

Bitcoin

MetaMask, the popular Ethereum wallet, is rumored to be introducing native Bitcoin support in an upcoming update. This addition could broaden MetaMask’s capabilities beyond Ethereum, making it a versatile multi-chain wallet and providing users with more options for managing their digital assets.

Ethereum

The Ethereum spot ETF proposed by VanEck is currently listed on the Depository Trust & Clearing Corporation (DTCC) with the ticker symbol $ETHV. However, it has not yet become active as it awaits approval from the Securities and Exchange Commission (SEC).

As a crypto investor, I’ve recently learned that the Securities and Exchange Commission (SEC) has requested US exchanges to expedite the updating process for their 19B-4 filings before the upcoming deadline. This means that these exchanges need to provide more detailed information about their operations and compliance with SEC regulations in a timely manner.

In a groundbreaking decision, the Securities and Exchange Commission (SEC) granted approval for all proposed Ethereum exchange-traded funds (ETFs), enabling their launch and trading later in the current year.

As a crypto investor, I’m thrilled to see that BlackRock’s spot Ethereum ETF, now listed on the DTCC under the ticker symbol $ETHA, has received SEC approval, joining seven other Ethereum ETFs in the market. However, before we can start trading this ETF, we are still waiting for the SEC to give its final clearance on the S-1 filings.

The collaboration of Ethereum researchers with EigenLayer in an advisory capacity has sparked debates in the blockchain world, questioning the impartiality and trustworthiness of their involvement.

DeFi

In the beginning of 2025, I, as part of the Zeta Markets team, unveiled our innovative DeFi layer-2 solution named Zeta X (ZX) on the Solana network. This development aimed to significantly improve the efficiency of decentralized trading and broaden the scope of our native token’s utility.

NFT

As a crypto investor, I’ve noticed that Yuga Labs has announced a change of direction regarding their recent collaboration with CryptoPunks due to intense criticism from the community. The concerns revolve around allegations that the new collection is overly “woke,” which has sparked controversy and resistance among some investors and collectors in the crypto space.

Security

Gala Games suffered from a major security incident caused by internal flaws in their controls. Consequentially, approximately $29 million worth of GALA tokens were created without authorization and subsequently sold on the market.

Following quick intervention from federal law enforcement, the hacker who gained unauthorized access to Gala Games’ system repaid $22 million in Ether.

Regulation

The Venezuelan National Power Ministry has taken strict measures against Bitcoin mining operations within the country. Over 11,000 Bitcoin mining devices have been disconnected from the electrical grid and confiscated.

Uniswap Labs has answered the SEC’s Wells Notice, contesting that the securities regulatory body’s expansive interpretations exceed its legal authority over their operations.

The Financial Innovation and Technology for the 21st Century Act received a vote of approval in the US House of Representatives, with a total of 279 votes in favor and 136 against. This legislation, which was strongly backed by Democrats, could represent a landmark achievement for the crypto industry if it gets passed into law.

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2024-05-26 12:39