Jun 19, 2024 at 10:21Stay updated with the latest trends and events impacting Bitcoin prices, blockchain, DeFi, NFTs, Web3, and crypto regulation. Here’s a rundown of today’s significant crypto news.
SEC Ends Ethereum Investigation: ConsenSys
The U.S. Securities and Exchange Commission (SEC) has decided to end its investigation into whether Ether (ETH) is a security, according to Ethereum developer ConsenSys. In a June 19 post on X, ConsenSys announced that the SEC’s Enforcement Division has closed its investigation into Ethereum 2.0. This means the SEC will not bring charges alleging that ETH sales are securities transactions, a significant victory for Ethereum developers and the broader crypto industry.
ConsenSys mentioned that the SEC’s decision followed a letter sent on June 7 requesting the end of the investigation, especially since the SEC had approved spot ETH exchange-traded funds (ETFs) in May, implying ETH is considered a commodity.
Hashdex Files for Combined Bitcoin and Ether ETF
On June 18, Hashdex submitted a filing to the SEC proposing a combined spot Bitcoin (BTC) and Ether (ETH) ETF to be listed on the Nasdaq exchange. The proposed ETF aims to balance crypto assets based on their market capitalizations, which as of May 27, were 70.54% BTC and 29.46% ETH. Hashdex plans for the ETF to passively track the daily market movements on the Nasdaq Crypto US Settlement Price Index.
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Coinbase and BitGo will act as custodians for the BTC and ETH assets. Analyst James Seyffart commented on X that a combined-asset ETF “makes a lot of sense.”
Bitcoin NFTs Outperform Ronin in All-Time Sales
Bitcoin-based nonfungible tokens (NFTs) have achieved a sales volume of $148 million in the last 30 days, surpassing the Ronin blockchain, which previously held the third-highest record for all-time NFT sales. In the past month, Bitcoin NFTs ranked second in sales volume, following Ethereum with $157 million and ahead of Solana with $77 million.
Despite these impressive figures, the NFT market experienced a downturn, with the top three blockchains showing at least a 40% decline in 30-day sales volumes, according to CryptoSlam.
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