Bittime - The cryptocurrency world is buzzing again with exciting news for Ethereum (ETH) holders. Asset management giant, Fidelity, is reportedly applying to launch an Exchange Traded Fund ( ETF ) specifically for Ether that offers a staking feature.
This news immediately had a positive impact on Lido (LDO), the leading liquid staking protocol on the Ethereum network. LDO price jumped 9% to $2.64 before declining slightly.
Fidelity and the Battle for the Ethereum ETF Market
Fidelity joins the race to launch the first Ether ETF in the United States. Previously, several big names in the financial industry such as BlackRock, Ark Invest, Grayscale, and 21Shares had also submitted similar applications.
Fidelity's addition of the staking feature to the Ether ETF application is a strategic step to attract investor interest. Staking is the process of storing crypto assets to support transaction validation on the blockchain and earn rewards in the form of additional tokens.
Check Today's Crypto Market:
| ETH/IDR | SOL/IDR |
| BTC/IDR | ATOM/IDR |
| USDT/IDR | ARB/IDR |
ETH Price Today
Source: Bittime
Based on the Bittime market on March 19 2024, the price of Bitcoin ETH/IDR has reached IDR 53,730,438 per coin, down 5.33% in 24 hours.
Also Read How to Buy Crypto:
Impact on the Staking Market
If a Fidelity staking Ether ETF is approved, this could potentially increase widespread adoption of Ethereum staking. In addition, the presence of large players such as Fidelity can increase credibility and trust in staking as an investment instrument.
Conclusion
Although Fidelity's application is still in the early stages, the presence of an Ether ETF with staking has the potential to be an exciting innovation in the cryptocurrency market. Retail investors may now have the opportunity to participate in Ethereum staking in an easier and more regulated manner.
However, it should be noted that investing in crypto-based financial products still carries high risks. Always do your research and consider your risk profile before investing.
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How to Buy Ethereum (ETH) on Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with the market pair ETH/IDR . To be able to buy ETH/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethereum (ETH) on Bittime.
Monitor price chart movements for Ethereum (ETH) , Bitcoin (BTC) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
VanEck: ETF Pioneer & Its Work for Bitcoin ETFs
Why Do Holders Often Win in Bull Markets? This is the Reason!
Risk Averse Ethereum Implementation Strategy for Playing Merge
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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