⚡ Hope Runs Thin, Yet Spot Ethereum ETF Applicants Press On
posted 29 Mar 2024
Bitwise, an investment company, has thrown its hat into the ring with an application for a spot Ethereum ETF, aligning itself with industry heavyweights such as BlackRock, Grayscale, Fidelity, VanEck, and Ark/21Shares.
Reminding the community of the uphill battle, ETF analyst Eric Balchunas commented that there’s still only a 25% chance of a spot Ethereum ETF getting the green light by May's deadline.
Reflecting on the skepticism among gamblers, Polymarket’s current odds are markedly pessimistic, with a mere 19 cents on the dollar betting on approval against 82 cents betting against it.
Notably, companies like Fidelity and Grayscale are exploring staking functionalities in their Ethereum ETF proposals to boost fund performance.
Grayscale's insight into staking's potential for optimizing crypto investments led to the launch of the Dynamic Income Fund on March 29.
Dedicated to Proof-of-Stake tokens, the fund aims to secure staking rewards, translating these into weekly US dollar conversions for quarterly distributions to investors.
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