Today’s Ethereum Price: $1,940
- Cboe BZX Exchange has submitted proposed rules changes to the SEC to enable staking within Fidelity’s Spot Ethereum ETF.
- Grayscale and 21 shares have made similar submissions to the SEC to wager Ethereum ETF Holdings.
- ETH can test a $2,850 key resistance above $2,200.
Ethereum (ETH) is up 3% after CBOE BZX faithfully filed with the Securities and Exchange Commission (SEC) and allowed staking within its spot Ethereum ETF.
Fidelity is about to wager its Ethereum ETF
CBOE BZX Exchange filed a 19B-4 with the SEC on Tuesday, allowing staking within the Fidelity Ethereum Fund (FETH).
“Based on discussions with sponsors, the exchange proposes to amend some parts of the revised ETH ETP Amendment No. 2 to allow staking of ether held by the trust,” the submitting country said.
Before Fidelity, Grayscale and 21 shares submitted to seek approval from the SEC to allow staking within their respective ETFs.
Staking involves generating passive income by using crypto assets to contribute to blockchain security.
The latest submission from the US follows the Spot Ethereum ETF publisher to include product staking following recent administrative changes in the SEC, including the resignation of former agency chairman Gary Gensler on January 20th.
Before the approval of the ETH ETF in July 2024, most publishers removed staking from their initial submissions, based on rumors that the Gensler-led SEC was unfamiliar with the feature.
However, agents can rethink their stance in light of the new SEC administration under President Donald Trump and acting chairman Mark Ueda, under Mark Ueda, which is leaning towards crypto regulation.
ETF Store president Nate Geraci has previously predicted that the US Spot Ethereum ETF could outperform Bitcoin ETFs if the SEC allows the issuer to hold it.
Ethereum ETFS recorded a negative trend for the fourth consecutive day on Monday, marking a $37.5 million outflow.
Ethereum price forecast: ETH eye recovery above $2,200
Ethereum saw a $131.39 million futures liquidation over the last 24 hours for each Coinglass data. The total amounts of liquidated long and short positions were $83.31 million and $48.09 million, respectively.
ETH found support in close to $1,750. This is the level obtained by measuring the rate of change between the $2,850 and $2,200 rectangular channels and projecting them downwards.
ETH/USDT Daily Chart
Once Top Altcoin retains $1,750 in support and regains its $2,200 level, it can test its $2,850 key resistance.
Relative Strength Index (RSI) and Stoch oscillators (Stoch) are retreating from oversold regions, indicating a decline in bear pressure.
If your daily candlestick falls below $1,500, your paper will be invalidated and you may send ETH to a psychological level of $1,000.
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