Ethereum (ETH) completely compensated for the losses he has experienced in the last 24 hours. 21shares’ Spot Ethereum ETF products with the suggestion to provide stinging service ETH price began to rise again. ETH, which has fallen up to $ 2,551.17 in the last 24 hours, is currently trading at $ 2,794.86 with an increase of 4.73 %.
21shares’ Ethereum ETF Stinging move
The 19B-4 application by the 21shares was submitted to the US Securities and Stock Exchange Commission (SEC) via CBOE BZX Exchange. This application, ETHereum ETFs ETH ETP Andment No. 2 requests to make changes. 21shares was thus taking the first official step towards Stinging service. CBOE’s document included the following statements:
Based on the interviews with the sponsor, the stock market, changed ETH ETP shouldendment No. It recommends that the various parts of 2 be amended and thus allowed to stake Ethereum held by Trust.
21Shares’ main objective is to increase the income to be obtained from assets held on behalf of its customers in Ethereum ETF products. The company said that it will carry out stinging transactions not through its own subsidiaries, but through the partners of storage service providers. On the other hand, despite the stinging procedures, the fund will maintain liquidity and will hold enough reserves to respond to the demands of investors. Markets seem to have positively reflected this development to the price of Ethereum.
ETH is getting rid of sales pressure
With the rise in the price of ETH, speculation that there may be a new wave of breaking in the markets has increased. In the current bull cycle, Ethereum has not yet overcome $ 4,000 resistance. In recent years, even with the effect of the bear market, even the level of $ 3,000 has become a strong resistance. However, 21shares’ stinging move ended a new momentum by ending the decline in Ethereum. Earlier analyzes pointed out the potential of ETH to reach $ 10,000 in the long term. Although ETH has lost 13.06 %in the last 30 days, the market feeling is that these losses can be compensated.
In addition, ETH/BTC parity has declined to its lowest levels, and analysts say it is a factor that can contribute to the re -rise of Ethereum. Ethereum ETFs, which were released by large asset executives, have not caused a significant increase in price so far. The main reason for this is that the US SEC does not allow stakinge in ETFs.
