According to a February 12 deposit With the Securities and Exchange Commission (SEC) of the United States, the CBOE BZX Exchange submitted a request requesting the approval of the feature of the 21Shares Ethereum (ETH) (ETH) exchange funds (ETH).
CBOE is looking for approval of the staging ETF ETF
The CBOE BZX exchange deposited with the dry to allow ETH held in the 21Shares Core ETF ETF is marked. If it is approved, the ETF will be able to set up its ash assets, allowing investors to win stimulation awards on their Ethereum assets.
For the uninitiated, the clears is one of the cornerstone of the Ethereum protocol. The blockchain went from a work evidence of work consensus (POW) to a system of proof of implementation (POS) in September 2022. As part of the POS model, the network participants can accumulate their ETH for Validate transactions and earn reward rewards.
While the SEC approved its first ETHEREUM ETHEREUM in 2024, it explicitly prohibited the development at the time, citing potential violations of federal laws on securities. This restriction led to major cryptocurrency exchanges such as Coinbase and Kraken in cease Their clearing services for American customers.
However, the position of the dry can move after Donald Trump’s victory in the 2024 American presidential election. The agency now has a new leadership, would have Composed of more pro-Crypto managers.
This contrasts strongly with the previous administration under the former president of the SEC, Gary Gensler. The new change of leadership probably encouraged the CBOE BZX Exchange to submit its request for ignition services ETF ETF.
In its application, the CBOE BZX exchange proposed to use an implementation mechanism of “Point-et-Clicking”. This method of appearance differs from the most traditional in that it does not require ethn to be moved to third parties for the milestone. Rather, it allows the ETF to mark out its ash ashs directly from its day care portfolio.
Although the mechanism for implementing points and clicks reduces the probability of a compromise or a safety breach, it does not completely rise the potential reduction penalties. To develop, elastic penalties are imposed on validators which violate the rules of the network, leading to the partial or complete forfeiture of their dotted ethn.
To strengthen its case, the CBOE BZX Exchange argued that the ban on marketing for the 21Shares ETF ETF is similar to preventing an ETF from the actions to distribute dividends to its investors. The company argues that the rewards of clearing should be treated in a similar way to dividends, as they represent an additional return generated by the maintenance of the assets.
Eth Price reacts to news of stake
After the deposit of CBOE BZX Exchange with the SEC, ETH experienced a net price increase. The second largest cryptocurrency by market capitalization increased from $ 2,547 to a summit of $ 2,795 before stabilizing.
Similarly, the ETH -related tokens, such as Lido (LDO), have experienced a noticeable price rally. LDO went from $ 1.46 to a peak of $ 1.84 before being at its current price of $ 1.66 at the time of the editorial staff. At the time of the press, the ETH is negotiated at $ 2,633, up 2.3% in the last 24 hours.
Star image of Unsplash.com, CBOE graphics and tradingView.com
