Welcome back to Distributed Ledger. This is Frances Yue, reporter at MarketWatch. Bitcoin
had another leg up this week, as Thursday marked the start of an eight-day window for the Securities and Exchange Commission to “theoretically issue approval orders” for pending spot bitcoin ETF applications.
also rose, as BlackRock appeared to have taken the first steps toward an ether ETF, with the website for Delaware’s Division of Corporations showing that an iShares Ethereum Trust was registered Thursday. I caught up with a few industry participants to see what it means. Find me on Twitter at @FrancesYue_ to share any thoughts on crypto or this newsletter.The ETF hope Crypto industry participants are expecting a spot bitcoin ETF to be approved soon, and an ether ETF to potentially follow. Once greenlighted, an ether ETF could further increase the institutional adoption of digital assets, noted Diogo Mónica, co-founder and president of Anchorage Digital. “A spot Ethereum ETF would have a similar impact as a Bitcoin counterpart, providing a regulated and accessible wrapper for institutions and consumers to participate in the ETH ecosystem,” Mónica said in emailed comments. “But Ethereum adds an extra layer of intrigue as a proof-of-stake asset, which means underlying ETH could also be staked for additional rewards,” he added. “If approved, a spot Ethereum ETF would drive institutional demand for safe, secure, and regulated staking.” Meanwhile, as bitcoin and ether prices rise, some smaller coinsalso saw their prices increased, pointing to a potential crypto spring, according to Leo Mizuhara, founder and chief executive at Hashnote. “I think one of the usual patterns we see in these markets is that oftentimes a rally will begin with bitco …