Crypto Weekly Roundup: Ethereum ETFs Are Live, US Passes Landmark FIT21 Bill, & More
This week saw another significant decision from the SEC after the Bitcoin ETF approval in January 2024. After pushing back deadlines for months, the securities regulator has approved all spot Ethereum ETF applications. Let’s find out more about this landmark move and how it could affect the industry.
Bitcoin
Ethereum’s leading wallet, MetaMask, is reportedly planning to add native Bitcoin support, potentially expanding its multi-chain capabilities and further enhancing its user offerings.
Ethereum
VanEck's proposed Ethereum spot ETF has been listed on the DTCC under the ticker $ETHV, but it remains inactive pending SEC approval.
Earlier this week, the SEC asked US exchanges to update their 19B-4 filings accelerated ahead of the crucial deadline.
The SEC then approved all spot Ethereum ETFs in a landmark move, paving the way for the products to begin trading later this year.
BlackRock’s spot Ethereum ETF, now listed on the DTCC as $ETHA, follows SEC approval alongside seven other Ethereum ETFs, though trading awaits further SEC clearance of S-1 filings.
The involvement of Ethereum researchers in advisory roles at EigenLayer has raised significant concerns within the blockchain community about potential conflicts of interest and the maintenance of credible neutrality.
DeFi
Zeta Markets announced the launch of Zeta X (ZX), a pioneering DeFi layer-2 solution on Solana, in early 2025, enhancing decentralized trading efficiency and expanding the utility of its native token.
NFT
Yuga Labs is reversing course on its new CryptoPunks collaboration following significant backlash from the community over allegations of the collection being excessively 'woke.’
Security
Gala Games experienced a significant security breach due to internal control failures, resulting in the minting and unauthorized sale of $29 million worth of GALA tokens.
After swift action and federal law enforcement involvement, the hacker who exploited Gala Games' system returned $22 million in Ether.
Regulation
Venezuela’s National Power Ministry has cracked down on Bitcoin mining farms, disconnecting them from the country’s electricity grid and seizing over 11,000 Bitcoin miners.
Uniswap Labs has responded to the Wells Notice issued by the SEC, arguing that its aggressive theories stretch the commission’s reach beyond its jurisdiction.
The United States House of Representatives voted 279-136 to approve the Financial Innovation and Technology for the 21st Century Act with a wave of Democratic support. If it becomes law, the bill could mark the crypto industry’s most significant legislative accomplishment in Congress.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
