Ether Tumbles 6% as ETH ETF Hopes Dim Amid Regulatory Probe Reports

CoinDeskPolicyPublicado a 2024-03-19Actualizado a 2024-03-20

Resumen

CoinDesk reported Wednesday that the Ethereum Foundation faces a confidential inquiry, and Fortune said the SEC is examining whether ETH is a security.

  • Ether dropped to near $3,200 and other cryptos turned lower as the regulatory headwind weighed on the market.
  • Ether-based spot ETFs likely won't get approved by the SEC in May, Bloomberg analysts said Tuesday.
6K

Ethereum's ether (ETH) tumbled as much as 6% Wednesday amid concern much-hoped-for ETH exchange-traded funds face a roadblock to U.S. approval.

CoinDesk reported earlier in the day that the Ethereum Foundation, the non-profit organization that helps develop the blockchain behind the second-largest cryptocurrency, faces a confidential inquiry from an unnamed government. Not long after, Fortune said the U.S. Securities and Exchange Commission is waging a campaign to classify the Ethereum blockchain's native token as a security, beginning a probe after Ethereum moved to a proof-of-stake network in 2022.

In the aftermath, ETH dropped to $3,200. Bitcoin (BTC), the largest cryptocurrency, dropped to around $62,000 after bouncing to near $64,000 earlier. The broad-market CoinDesk 20 Index (CD20) fell 3%.

Advertisement
Advertisement

Designating ETH as a security could complicate efforts to create ether ETFs in the U.S. The SEC has a May deadline to decide on approval. An analyst at Bloomberg Intelligence on Tuesday said he doesn't expect such a fund to get approved by May, given the regulator's lack of engagement with potential issuers – a contrast to the active conversations around spot bitcoin ETFs before they got the green light in January.

Earlier Wednesday, the SEC delayed its decision on VanEck’s proposed ether ETF.

Edited by Sheldon Reback and Nick Baker.


Lecturas Relacionadas

CT3 comienza los preparativos de su ecosistema para el lanzamiento de la economía CT3GB

CT3 ha anunciado el inicio de los preparativos integrales para la futura listación del token CT3GB. La empresa está escalando su infraestructura de almacenamiento de datos, creando reservas financieras y técnicas, y preparando su propia economía tokenizada, donde CT3GB será el principal activo de liquidación de la plataforma. Simultáneamente, se está realizando la transición a una nueva arquitectura de almacenamiento basada en contratos inteligentes especializados, y se llevará a cabo una auditoría independiente de toda la infraestructura central antes de la listación. La compañía subraya que la sostenibilidad de la economía tokenizada depende del grado de preparación de la infraestructura para operar después de la listación. Por ello, ya está expandiendo su red de almacenamiento, aumentando la capacidad computacional y construyendo reservas. El programa Storage Contracts es una herramienta clave para este fin, permitiendo aumentar gradualmente la capacidad de la red. CT3GB se utilizará para pagar servicios de almacenamiento, liquidar pagos con proveedores de infraestructura, distribuir recompensas y facilitar operaciones internas, convirtiéndose en un elemento fundamental del ecosistema CT3 Cloud. La preparación para la listación forma parte de la estrategia a largo plazo de CT3 para crear una infraestructura de almacenamiento de datos autónoma con su propio modelo económico.

TheNewsCryptoHace 55 min(s)

CT3 comienza los preparativos de su ecosistema para el lanzamiento de la economía CT3GB

TheNewsCryptoHace 55 min(s)

Trading

Spot
活动图片