After Ethereum hit a new all-time high in price of $ 2,540 yesterday, recent news suggests that the world will soon see Ethereum’s first exchange-traded fund (ETF). Today, it became known that Canada approved the first Ethereum ETF in history.
Yes, Canadian regulators approved the first ETF physically backed by Ethereum on Friday. Toronto-based company Purpose Investments announced that it is preparing to launch the first product of its kind. Based on Ethereum after approval from regulators. According to the official statement.
The ETF is designed to provide investors with exposure to the popular cryptocurrency, Ethereum. Investing directly in physically settled Ether tokens.
Earlier this year, Purpose Investmensts became the first Canadian company to receive approval to launch a Bitcoin exchange-traded fund. America’s First Bitcoin ETF. Called Purpose Bitcoin ETF, it debuted on the Toronto Stock Exchange (“TSX”) on February 18.
The news that Canada approved the first Ethereum ETF in history comes just over two months after Canada approved the Purpose Bitcoin ETF that held 10,064 BTC. In the first week of operations. Meanwhile, in the US, Bitcoin ETF approvals have been piling up in hopes that the new head of the Securities and Exchange Commission (SEC), Gary Gensler, can change the regulatory agency’s attitude toward the new investment product.
Dogecoin whales move $ 12 billion in one day, twice as much as Ethereum
Dogecoin’s (DOGE) dramatic rise in market capitalization rankings coincided with the awakening of the DOGE whales. As blockchain metrics rose to new heights in the past 24 hours.
More than $ 12 billion worth of DOGE was transferred through the blockchain in the last day. According to data from BitInfoCharts. To put that number in context, the Ethereum blockchain processed only $ 6 billion worth of Ether on the same day.
Ether is the second largest cryptocurrency in the world by market capitalization and its blockchain is the most developed in the world. With twice the monthly commitments on GitHub than Bitcoin.
For its part, let’s remember that, Dogecoin is a meme coin created as a joke in 2013, which derives much of its perceived value from the cute photo of the Shiba-Inu dog that adorns its logo. It has no active developers and its own creator sold all of its coins in 2016 during a period of unemployment.
It is important to note that only one address contains 28% of the total coin supply. While 11 addresses represent 46%. This point did not go unnoticed by Tesla CEO and Dogecoin fan Elon Musk, who said he would provide full support for the cryptocurrency if the major holders sold most of their coins.
As DeFi Tokens Rise, CRV Indicates Bountiful Harvest for ‘DeFi Summer 2.0’
Multiple common metrics used to measure the health of the DeFi space point to a bull market looming. But perhaps the most promising of all could be the increase in the price of Curve’s CRV governance token.
Often referred to as one of DeFi’s “backbone” protocols, Curve is an essential tool for many retail and protocol-level performance growing strategies. Curve enables low-cost, low-slip similar asset exchanges.
For example, trading between different stablecoins like Dai, USD Coin (USDC), and Tether (USDT), and users depositing liquidity in Curve pools also get trading fees as CRV governance token issuances as a reward.
As a result, the protocol is the seventh largest by total value blocked by DeFiLlama, with USD 6.49 billion active. And, it works as the primary protocol that generates performance leveraged by performance vaults like Yearn.finance.