Bit Digital expressed optimism around spot Ethereum (ETH) ETFs’ upcoming launch but drew attention to the funds’ lack of staking on July 16.
The company said it is “thrilled for the increased normalization and adoption” around Ethereum and the technology’s potential to reshape the financial system. Bit Digital also asserted that the ETFs could be a significant price catalyst for ETH in future months.
However, Bit Digital drew attention to the funds’ limitations, noting:
“It is important to note that the ETH ETFs won’t be able to stake and benefit from ETH’s full potential.”
Bit Digital referred to its website, which identifies the firm as the only publicly traded Bitcoin miner that stakes Ethereum. The company spends BTC mining rewards on ETH, which it stakes. It then redeploys ETH staking rewards to add sustainable Bitcoin miners, concluding the cycle.
Bit Digital also states that it is among the largest ETH holders of any Nasdaq-listed company, holding over 29,000 ETH ($100.4 million).
The company said its BTBT shares provide “exposure to the smart contract economy.”
ETF applicants dropped staking
Several spot ETH ETF applicants attempted to accommodate ETH staking to their proposals around February. They intended to treat staking rewards as income for the fund.
However, applicants removed staking plans from their applications to reportedly meet the SEC’s expected approval requirements around May. Spot ETH ETFs have since gained initial approval without allowances for staking.
Bloomberg ETF analyst Eric Balchans believes the SEC will grant issuers permission to launch the funds on July 22, allowing the funds to begin trading on July 23.
Mentioned in this article
Assad Jafri
AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
Bit Digital expressed optimism around spot Ethereum (ETH) ETFs’ upcoming launch but drew attention to the funds’ lack of staking on July 16.
The company said it is “thrilled for the increased normalization and adoption” around Ethereum and the technology’s potential to reshape the financial system. Bit Digital also asserted that the ETFs could be a significant price catalyst for ETH in future months.
However, Bit Digital drew attention to the funds’ limitations, noting:
“It is important to note that the ETH ETFs won’t be able to stake and benefit from ETH’s full potential.”
Bit Digital referred to its website, which identifies the firm as the only publicly traded Bitcoin miner that stakes Ethereum. The company spends BTC mining rewards on ETH, which it stakes. It then redeploys ETH staking rewards to add sustainable Bitcoin miners, concluding the cycle.
Bit Digital also states that it is among the largest ETH holders of any Nasdaq-listed company, holding over 29,000 ETH ($100.4 million).
The company said its BTBT shares provide “exposure to the smart contract economy.”
ETF applicants dropped staking
Several spot ETH ETF applicants attempted to accommodate ETH staking to their proposals around February. They intended to treat staking rewards as income for the fund.
However, applicants removed staking plans from their applications to reportedly meet the SEC’s expected approval requirements around May. Spot ETH ETFs have since gained initial approval without allowances for staking.
Bloomberg ETF analyst Eric Balchans believes the SEC will grant issuers permission to launch the funds on July 22, allowing the funds to begin trading on July 23.
Mentioned in this article
Assad Jafri
AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
where can i get generic clomiphene tablets clomiphene uk buy how to buy cheap clomid no prescription can you buy generic clomid without insurance can i buy generic clomid without prescription how to buy clomiphene no prescription buying cheap clomid no prescription
I’ll certainly bring back to review more.
Thanks on sharing. It’s first quality.
azithromycin 250mg us – flagyl 400mg canada buy metronidazole
semaglutide 14 mg over the counter – cyproheptadine drug buy periactin generic
brand domperidone 10mg – purchase sumycin pills buy cyclobenzaprine pill
order inderal 20mg generic – methotrexate 5mg pill methotrexate 5mg without prescription
cost amoxil – diovan pills buy combivent online cheap
order amoxiclav online cheap – https://atbioinfo.com/ cheap ampicillin
buy cheap generic esomeprazole – https://anexamate.com/ buy nexium no prescription
order medex sale – https://coumamide.com/ order cozaar 25mg pills
buy meloxicam 7.5mg online cheap – tenderness order mobic generic
prednisone pills – aprep lson deltasone 20mg usa
buy cheap ed pills – where to buy ed pills without a prescription buy ed pills tablets
order amoxil online – combamoxi buy amoxil cheap
generic diflucan – forcan generic order fluconazole 100mg without prescription
cenforce 50mg us – click order cenforce 100mg for sale
cialis prices at walmart – https://ciltadgn.com/# best research tadalafil 2017
buy generic ranitidine over the counter – https://aranitidine.com/ buy ranitidine 300mg without prescription
tadalafil how long to take effect – where can i buy cialis online in australia is there a generic cialis available in the us
This website really has all of the low-down and facts I needed about this thesis and didn’t comprehend who to ask. synthroid para que sirve culturismo
cheap viagra vipps – https://strongvpls.com/ where to buy viagra over the counter
This is the kind of content I enjoy reading. buy amoxicillin generic
With thanks. Loads of erudition! https://ursxdol.com/cenforce-100-200-mg-ed/
I’ll certainly bring to skim more. https://prohnrg.com/
The thoroughness in this break down is noteworthy. https://ondactone.com/product/domperidone/
More text pieces like this would insinuate the интернет better.
colchicine uk
More posts like this would create the online time more useful. https://myvisualdatabase.com/forum/profile.php?id=117930
buy forxiga generic – click buy generic forxiga online