Ethereum: Ark Invest Removes Staking from ETH ETF Proposal
Ark Invest, in collaboration with 21Shares, has recently amended their Ethereum ETF proposal by removing the staking feature. Initially added on February 7th, this clause allowed for partial asset staking through trusted service providers. However, as reported by BTC-ECHO | Bitcoin & Blockchain seit 2014, these changes have fueled speculation about a potential surprise approval of upcoming Ethereum spot ETF applications.
The removal was likely a strategic move to align with comments from the US Securities and Exchange Commission (SEC), suggesting that without staking features, an ETF might stand a better chance of approval. This development comes amidst concerns expressed by SEC Chairman Gary Gensler regarding how the income-generating nature of staking could classify ETH as a security under current regulations.
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Ethereum Shock Forecast: Mega Crash Then $10K?
A recent analysis featured on wallstreet:online suggests a volatile future for Ethereum. The article discusses predictions where Ethereum may experience significant downturns before potentially soaring to new heights around $10k towards late 2024 or early 2025. Despite increased odds for an imminent ETF approval which doubled yesterday, analysts believe it's unlikely to happen soon due to less activity compared to earlier in January.
This forecast is part of broader market dynamics influenced possibly by political events such as U.S elections where candidates' stance on cryptocurrencies can significantly sway regulatory decisions impacting crypto markets like those involving Ethereum’s proposed ETFs.
Ethereum Now More Affordable Than Ever: Gas Fees Drop By 94%
In another encouraging development for users and developers within the Ethereum ecosystem, FinanzNachrichten.de reports that gas fees have plummeted by up to 94% since March following transitions toward Proof-of-Stake mechanisms which also reduced inflation rates while maintaining transaction volume stability across its network.
This drastic reduction enhances accessibility making operations like simple transfers extremely cost-effective albeit complex transactions remain relatively higher priced reflecting ongoing challenges balancing affordability against necessary validator incentives crucial for network integrity and security long term sustainability perspectives discussed extensively throughout industry circles today.
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