Bittime – Information about the Ethereum ETF is being widely reported in the crypto ecosystem regarding its licensing from the SEC. Today's crypto news also includes SEC
Check out today's crypto news highlights, May 25 2024.
Finally, SEC Approves Ethereum ETF!
After protracted suspension by the SEC, the Ethereum ETF was finally given full permission by the United States Securities and Exchange Commission . This licensing paves the way for Ethereum ETF products to begin trading later this year.
The approval of this Ethereum ETF is believed to pave the way for the Solana ETF (SOL) and its classification as a commodity. Approval of a spot Ethereum ETF would indicate that the SEC views Ethereum, the second-largest crypto asset, as a commodity for non-Bitcoin digital assets and could set the stage for Solana to receive a similar classification.
Check Today's Crypto Market:
US DPR Rejects Issuance of CBDC
Good news for the Ethereum ETF, however, is not necessarily good news for the entire crypto ecosystem. Because, the United States is not yet that open to crypto. The proof is that the United States DPR, in its voting meeting, rejected the Federal Reserve (FED)'s plan to issue a CBDC .
The bill, named the "CBDC Anti-Surveillance State Act," was introduced by Tom Emmer (R-Minn.), a Republican who serves as Majority Whip. This bill aims to stop the US Federal Reserve's efforts to develop a "digital dollar."
However, most members of the meeting did not agree because they were concerned that CBDC could be used to control American citizens.
Upgrape Ethereum Pectra of Q1 2025
Ethereum seems to be undergoing a lot of innovation and providing good news. For example, Ethereum has announced plans to launch the Pectra upgrade in Q1 2025.
This upgrade is an important step in the Ethereum roadmap and aims to improve the scalability, privacy and security of the network.
Also Read: QCP Capital: ETH-ETF Spot Trading is Approaching, Collect Spot ETH Before Launch!
Will ETFs Become America's 401(k) Retirement Plans?
State Street plans to propose adopting ETFs as retirement plans in America , specifically 401(k)s. The reason is because ETFs are traded on stock exchanges thereby providing real price transparency and liquidity.
So, this allows 401(k) participants to monitor their investments and make more informed investment decisions.
Event Gigadrop ZAP
ZAP announced the launch of the Blast Gigadrops event which will start on Monday 27 May. The Blast Gigadrop event will last for approximately five weeks with a total prize of more than 500,000 US dollars or around IDR 8 billion.
ZAP will collaborate with more than 20 other Blast projects. ZAP will collaborate with more than 20 other Blast projects.
Update Q2 Ethena Labs
Ethena reappears with innovative news. Ethena Labs has released an update for Q2 2024 . This update includes several important milestones and plans for the future.
On Monday, May 27 2024, at 20:00 WIB, Ethena Labs will launch a $10 million FDUSD Curve LP Pool. This pool allows users to provide liquidity on the FDUSD<>USDe pair, supporting more efficient FDUSD exchange and trading.
Binance Releases Latest Cristiano Ronaldo NFT
Binance announced the launch of the latest NFT from Cristiano Ronaldo which will give fans the opportunity to experience CR7's journey.
The initial NFT launch will take place on May 29 2024. Information regarding the number and price of NFTs will be officially announced on the launch date.
ClayStack is Officially Closed
ClayStack announces the decision to officially discontinue its services. This decision was taken after ClayStack faced challenges in terms of resources and achieving product-market fit.
From now on, ClayStack enters withdrawal-only mode. The unstaking process (withdrawal of staked assets) has been carried out by ClayStack. Users are expected to be able to withdraw their funds before June 18, 2024.
Also Read How To Buy Crypto:
Conclusion
That's the highlight of today's crypto news, May 25 2024. Get the latest news about the crypto ecosystem every day for free only on the Bittime blog.
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Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational and is not an offer or solicitation 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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