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There’s a lot of tech wizardry going on behind the scenes that makes it all possible
Plus, are people still excited about the ETH ETFs?
The Grayscale Ethereum Trust exchange-traded fund conversion removes discounts and lock-in periods, which could prompt investors to sell their shares for cheaper ETFs from issuers like BlackRock and Fidelity, an analyst said.Outflows from the converted Grayscale’s Ethereum Trust could weigh on the price of ether in the initial period after the launch of ETF trading, the analyst added.
Share link:In this post: Grayscale moved $1 billion worth of Ethereum to Coinbase to prepare for the launch of its spot Ethereum ETFs on the NYSE and other platforms. Coinbase will be the custodian for eight of the nine new Ethereum ETFs. Grayscale’s Ethereum ETF has a high management fee of 2.5%, which is much higher than competitors like BlackRock and Fidelity.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information
Kaiko’s latest analysis suggests that Ether’s price will be sensitive to spot ETF inflows, given the low demand for futures products back in late 2023.
- 22:24Meta considers integrating stablecoins again to reduce payment costs after selling the Diem projectMeta is considering integrating stablecoins to reduce payment costs compared to fiat currency, such as paying Instagram creators. The report states, "The company seems to have not yet determined which specific stablecoin to use." Additionally, Meta has "contacted crypto infrastructure companies to address the cost issues of cross-regional payments." The company has also hired "former Ripple executive Ginger Baker as Vice President of Product." This renewed focus on stablecoins comes as "U.S. regulators have taken a more favorable attitude towards cryptocurrencies after President Trump's inauguration." In 2019, Meta launched the stablecoin project Libra, later renamed Diem, but "due to regulatory pressure, the project was not launched as scheduled and was eventually shut down." The intellectual property of Diem has been sold to Silvergate Bank, and although the bank later declared bankruptcy, "the project continues in new chains like Aptos with the MOVE language, but no longer involves Meta."
- 22:17Trump: Will Use Tariffs to Pressure Countries to Open UpOn May 8, U.S. President Trump: Federal Reserve Chairman Powell may not like me, but even without rate cuts, the U.S. is still performing well. Will use tariffs to pressure countries to open up.
- 22:16Trump Criticizes Fed Again for Not Cutting Rates: Talking to Powell is Like "Playing Music to a Cow"On May 8, U.S. President Trump stated: Everyone except the Federal Reserve is cutting interest rates, and talking to Federal Reserve Chairman Powell is like "playing the lute to a cow," as Powell is always "too late."