Ethereum celebrates its 10th anniversary, a massive milestone, with corporate finances holding 2.73 million ETH, accounting for 2.26% of distribution supply.
Companies such as Sharplink Gaming and Bitmine Immersion Technologies are currently leading the largest holders and are beyond the Ethereum Foundation.
This growth comes amid growing institutional interest, with the Ethereum ETF attracting more than $65 million in daily inflows and more than $21.5 billion in assets under management. The SEC-approved Kind Creation/Rebate Model adds further appeals and provides tax efficiency for large investors.
ETH's price trends to the upside on the daily chart. Source: ETHUSD on Tradingview
XRP and Solana ETFS may arrive by October
The Securities and Exchange Commission (SEC) has introduced a general list standard framework in which 12 digital assets could be subject to ETF approval if they trade futures contracts on designated exchanges for six months. This includes Ethereum, XRP, Solana, Cardano, Dogecoin, and Shiba Inu.
Solana’s ETF approval could come as early as October 10th, but XRP is expected soon. Market analysts say approval odds for XRP, Solana and Litecoin ETFs are above 95%.
The SEC has also approved a mixed Bitcoin and Etaliam ETPS, expanded the options’ contract restrictions and introduced tax-friendly redemption methods. These changes reduce bureaucracy by eliminating the traditional 19B-4 rule change process and streamlining the ETF list to a 75-day review.
The SEC aims to delegate authority to CFTC and lead the adoption of global cryptography
The SEC has effectively outsourced the ETF approval body to the Commodity Futures Trading Commission (CFTC) by building eligibility based solely on futures trading history.
SEC Chair Paul Atkins emphasized that the committee will “lead the cryptocurrency revolution” and promoted future prevention regulations while protecting investors.
Despite criticism of Coinbase Derivatives’ monopoly in the eligible futures market, the SEC’s decision could indicate regulatory change and position the US as a global center for crypto innovation.
72 Crypto ETF applications are pending, and the coming months could lead one of the most bullish times for the adoption of institutional cryptography in US history.
ChatGpt cover image, TradingView’s Ethusd chart
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