Bit Digital Spot Ethereum is generating optimism (ETHThe upcoming ETF launch has drawn attention to funds that have not been staked on July 16.
It is a company that claims to be “thrilled for the increased normalization and adoption” Ethereum is a technology that has the power to transform the financial world. financial system. Bit Digital said that ETFs would also be a price catalyst for ETH over the next few months.
Bit Digital, however, drew the attention of its customers to certain limitations.
“It is important to note that the ETH ETFs won’t be able to stake and benefit from ETH’s full potential.”
Bit Digital pointed to the website of the company, which identified it as the sole publicly traded Bitcoin A miner who stakes Ethereum. The company uses BTC to purchase ETH and stakes it. After adding sustainable Bitcoin miners to the system, it redeploys ETH staking benefits.
Bit Digital states it holds over $29,000 in ETH ($100,4 millions).
The company stated that its BTBT share provides “exposure to the smart contract economy.”
ETF applicants dropped staking
Several applicants for ETH ETFs tried, around the month of February, to incorporate ETH staking into their proposals. The fund intended to use staking reward as an income source.
According to reports, however, the applicants removed stake plans from their application in order to meet SEC approval requirements of around May. Since then, Spot ETFs for ETH have been available. gained initial approval Without allowance for stakes.
Bloomberg ETF Analyst Eric Balchans believes the SEC grants issuers approval to launch their funds by July 22. The funds can begin trading as early as July 23.
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Source: cryptoslate.com