Ethereum News: Cboe BZX Seeks SEC Approval for Staking in 21Shares Ethereum ETF

The Cboe BZX Exchange has submitted a proposal to the SEC to allow staking for the 21Shares Core Ethereum ETF, indicating a positive market sentiment for Ethereum.

Cboe BZX Seeks SEC Nod for 21Shares Ethereum ETF Staking

The Cboe BZX Exchange has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to enable staking for the 21Shares Core Ethereum exchange-traded fund (ETF). The exchange requests approval to stake ether held within the fund, citing discussions with the ETF's sponsor. This move comes as Ethereum surged 6% following the news, indicating positive market sentiment towards the potential staking approval.

Ethereum Price Gearing Up for Gains—Can Bulls Sustain The Momentum?

Ethereum price is showing signs of bullish momentum, moving higher above the $2,600 zone. If it can clear the $2,800 resistance zone, ETH might gain further bullish momentum. The cryptocurrency has started a fresh increase above the $2,650 resistance level and is currently trading above $2,680 and the 100-hourly Simple Moving Average. A key bearish trend line with resistance at $2,680 on the hourly chart of ETH/USD has been broken, indicating a potential upward move if the price settles above $2,780 and $2,800.

Cboe files for 21Shares Ethereum ETF to allow staking

Cboe BZX has filed a form 19b-4 with the Securities & Exchange Commission (SEC) to enable staking for the 21Shares CORE Ethereum exchange-traded fund (ETF). The issuer plans to use a point-and-click method for staking its ETH holdings without moving the tokens. The move could see approval considering ongoing regulatory reforms in the digital asset landscape, potentially boosting Ethereum's demand in the coming months.

Ethereum Whales Accumulate Over 600,000 ETH in Past Week

Despite Ethereum's recent price struggles, larger investors, known as whales, have been actively buying, accumulating over 600,000 ETH in the past week. This suggests growing confidence among these big players, contrary to the fear and uncertainty prevalent among retail investors. The recent price drop has left many investors concerned about Ethereum's short-term future, but the whales' actions could indicate a potential price upswing in the NEAR future.