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<\/p>\n","protected":false},"excerpt":{"rendered":"Ether grabbed the cryptocurrency spotlight after posting its most significant jump in more than a month, a surge pegged to speculation about the outlook for applications to start US exchange-traded funds (ETF) for the token.<\/p>\n
The second-largest digital asset traded at about $3,710 (R69,116) as of 11:20 a.m. on Tuesday in Singapore, maintaining an 8.5% advance from US hours.<\/p>\n
Ether\u2019s 62% year-to-date gain is closing in on market leader Bitcoin\u2019s 68% increase.<\/p>\n
\u201cThere\u2019s been some chatter about Ether ETF issuers meeting with the US Securities and Exchange Commission,\u201d said Edward Chin, co-founder of digital-asset hedge fund Parataxis Capital.<\/p>\n
A sceptical SEC reluctantly acquiesced to US spot-Bitcoin ETFs in January in the wake of a court reversal last year.<\/p>\n
The products have amassed $59 billion (R1.099 trillion) in assets since their January launch, one of the most successful debuts ever for a fund category.<\/p>\n
That helped lift Bitcoin to a record high in mid-March.<\/p>\n
Traders are aware of the possibility of an Ether rally if the SEC allows ETFs to hold the token directly.<\/p>\n
Investment titans such as BlackRock Inc. and Fidelity Investments have submitted applications to start such funds, but there are doubts over whether the regulator will give the green light.<\/p>\n
While Bitcoin is acknowledged to be a commodity, the SEC argues most other tokens are effectively unregistered securities and thus claims that thedigital assett sector is rife with non-compliance.<\/p>\n
Explicit identification of Ether as an unregistered security would addmanyf challenges to rolling out an ETF.<\/p>\n
SEC approval of spot-Bitcoin portfolios also hinged on the correlation between CME Bitcoin futures and price movements in the digital asset itself, which was deemed sufficient to detect fraud and manipulation.<\/p>\n
Bloomberg Intelligence ETF analysts James Seyffart and Eric Balchunas in a late-March note assigned 75% odds to the prospect of the agency rejecting Ether applications by May.<\/p>\n
They said the SEC may lean on data \u201cshowing relatively weak correlations between spot and futures markets.\u201d<\/p>\n
The SEC didn\u2019t immediately reply to a request for comment about any discussions over Ether ETF applications between the agency and potential issuers.<\/p>\n
The request was made after regular business hours.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Ether posted its biggest jump in more than a month due to speculation about the outlook for applications to start US exchange-traded funds (ETF) for the token.<\/p>\n","protected":false},"author":341034,"featured_media":531733,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44696],"tags":[67759,52659,79844,93513,42124,91159,54019],"class_list":["post-531729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-crypto","tag-etf","tag-ether-eth","tag-ether-etf","tag-ethereum","tag-exchange-traded-fund","tag-securities-and-exchange-commission-sec"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/531729"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=531729"}],"version-history":[{"count":2,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/531729\/revisions"}],"predecessor-version":[{"id":531741,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/531729\/revisions\/531741"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/531733"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=531729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=531729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=531729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}