Grayscale has launched a fund based on the Solana-based governance token of the Pyth Network, catering to both retail and institutional investors. This initiative aims to provide access to higher-beta opportunities linked to Solana’s growth, amidst a backdrop of declining prices for major cryptocurrencies like Bitcoin and Solana. Grayscale continues to expand its offerings, recently filing for a Cardano ETF and introducing a Dogecoin Trust.
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Emerging Cryptocurrencies Gain Traction as Dogecoin Hype Declines
Dogecoin’s price is under scrutiny as some investors consider cashing out, while interest shifts to DTX Exchange, which has seen a $14.6 million presale. The SEC has approved a proposal for a Dogecoin ETF, potentially enhancing its credibility. Meanwhile, Chainlink is gaining traction in finance with a multi-model AI approach to reduce data errors, solidifying its position as a leading investment choice in the blockchain ecosystem.
read moreCardano ADA Predicted to Surpass DOGE and USDC with $7 Target
Analyst predictions suggest Cardano (ADA) could reach a market cap of $250 billion and trade at $7, potentially surpassing Dogecoin (DOGE) and USD Coin (USDC). This surge is contingent on the US government’s adoption of Cardano for operations, as hinted by Elon Musk. Currently ranked 9th with a market cap of $28 billion, ADA has shown resilience, maintaining a price above $0.8 amid market fluctuations.
read moreSEC Acknowledges ETF Filings for Dogecoin and XRP Boosting Investor Optimism
Dogecoin (DOGE) and XRP experienced a price surge of over 10% following the SEC’s acknowledgment of spot ETF filings from Grayscale and 21Shares. This marks the start of a formal review process that could last up to 240 days, with optimism among investors increasing the likelihood of approval for these ETFs.Analysts estimate a 75% chance for DOGE and 78% for XRP ETF approvals, reflecting a shift in the SEC’s stance after the departure of former Chair Gary Gensler, who was known for his skepticism towards crypto assets. As the review unfolds, investor enthusiasm for DOGE and XRP continues to grow, potentially driving further gains.
read moreGrayscale Proposes Ethereum Staking Rule Change to Boost ETF Appeal
Grayscale is seeking SEC approval for a rule change that would allow its Ethereum Trusts, ETHE and EZET, to stake ether holdings, potentially generating rewards and attracting investors amid competition from other Ethereum ETFs. This move comes as ETHE faces nearly $4 billion in outflows, while rival ETFs have seen significant inflows due to lower fees and institutional support. If approved, the change could enhance the appeal of Grayscale’s funds and help stem further outflows.
read moreNYSE seeks SEC approval for Grayscale Ethereum ETF staking plan
The New York Stock Exchange has applied to the U.S. Securities and Exchange Commission to allow Grayscale’s Ethereum ETFs to stake their Ether, potentially enhancing returns for investors. This move could mark a significant shift in the operation of Ethereum-based ETFs, as it aims to generate passive income while tracking Ethereum’s price. If approved, this initiative may pave the way for a more competitive landscape in crypto investment products.
read moreSEC Reviews Grayscale Proposals for Dogecoin and XRP Exchange Traded Funds
The US Securities and Exchange Commission (SEC) is considering Grayscale’s proposals for exchange-traded funds (ETFs) for Dogecoin (DOGE) and XRP, inviting public comments for 21 days following the acknowledgment of NYSE Arca’s filing. Grayscale argues that DOGE has evolved from a meme to a viable financial tool, while the SEC’s stance on crypto has shifted after the departure of former Chair Gary Gensler, who was known for his skepticism towards the industry.
read moreGrayscale Files for Cardano Spot ETF as ADA Price Surges 14 Percent
Grayscale has filed for a Cardano (ADA) spot ETF with NYSE Arca, marking a significant expansion of its crypto offerings beyond Bitcoin and Ethereum. Following the announcement, ADA’s price surged 14%, reaching an intraday high of $0.8, although it remains down 17% over the past two weeks. The ETF, which will hold only ADA, is seen as a response to growing institutional interest, while the SEC has yet to make a decision on the application.
read moreCardano Surges 11 Percent After Grayscale Files for ADA Spot ETF
Cardano surged over 11% after Grayscale applied for the first-ever spot Cardano exchange-traded fund in the U.S. The application, submitted by NYSE Arca, aims to provide investors with a cost-effective way to gain exposure to ADA, with Coinbase as the trust’s custodian. This move reflects a growing trend of companies seeking approval for cryptocurrency funds amid increasing interest in digital assets.
read moreGrayscale Files to Launch First Spot Cardano ETF in the US
Grayscale, through NYSE Arca, has filed to launch a spot Cardano ETF, marking its first standalone investment product for Cardano. The proposal includes Coinbase Custody Trust as the asset custodian and BNY Mellon as the administrator, aiming to enhance market competition. This filing follows a series of similar requests from Grayscale and other asset managers for various crypto ETFs, reflecting a growing interest in the market.
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