EddieJayonCrypto

 24 May 24

tl;dr

The U.S. Securities and Exchange Commission (SEC) has approved eight applications for spot Ethereum ETFs, allowing Ethereum trading on Wall Street. Coinbase Chief Legal Officer, Paul Grewal, stated that the SEC's decision validates Ethereum as a commodity, a belief echoed by others in the crypto com...

SEC approval of spot Ethereum ETFs signals Ethereum trading on Wall Street. Coinbase CLO asserts SEC approval validates Ethereum as a commodity. Grewal and Sigel highlight Ethereum's decentralized nature as a commodity. SEC approval boosts Ethereum institutional investment; trading to begin after S-1 approval. Approval of funds marks critical development for Ethereum; S-1 approval crucial before trading. SEC's approval indicates Ethereum is not considered a security, crucial for industry. ETH ETF issuers remove staking references to expedite SEC approval.


The U.S. Securities and Exchange Commission (SEC) has approved eight applications for spot Ethereum ETFs, allowing Ethereum trading on Wall Street. Coinbase Chief Legal Officer, Paul Grewal, stated that the SEC's decision validates Ethereum as a commodity, a belief echoed by others in the crypto community. This recognition is supported by various regulatory bodies, including the Commodity Futures Trading Commission (CFTC) and federal court rulings. The approval of these ETFs marks a critical development for Ethereum, paving the way for greater institutional investment, although trading will commence after the approval of S-1 documents. This decision indicates that Ethereum is not considered a security, a significant victory for crypto advocates and crucial for Ethereum's continued growth. Additionally, ETH ETF issuers have removed language about staking customer ETH from their applications to expedite the approval process and avoid regulatory hurdles.


COINBASE CLO: SEC APPROVAL OF ETHEREUM ETF VALIDATES ETH AS COMMODITY. Paul Grewal expressed his views online, emphasizing the significance of the approval. He stated that Ethereum is now effectively recognized as a commodity, a belief long held by the crypto community. Grewal’s sentiments were echoed by Sigel, who highlighted that Ethereum’s decentralized nature classifies it as a commodity. This recognition is supported by various regulatory bodies, including the Commodity Futures Trading Commission (CFTC) and federal court rulings. The SEC’s approval of Ethereum ETFs further solidifies this stance.


SEC APPROVAL BOOSTS ETHEREUM INSTITUTIONAL INVESTMENT. The approved funds include the converted Grayscale Ethereum Trust, Bitwise Ethereum ETF, iShares Ethereum Trust, VanEck Ethereum Trust, ARK/21 Shares Ethereum ETF, Invesco Galaxy Ethereum ETF, Fidelity Ethereum Fund, and Franklin Ethereum ETF. While the approval is a significant milestone, trading will begin after some time. Bloomberg ETF expert James Seyffart suggested that it could take a few weeks for the fund managers’ S-1 documents to be approved, enabling trading to commence. The approval of these funds marks a critical development for Ethereum, paving the way for greater institutional investment. However, investors must wait for the final approval of S-1 documents before trading begins. This process is crucial to ensure compliance with regulatory standards and the smooth launch of these ETFs.


The SEC’s decision to approve spot Ethereum ETFs indicates that Ethereum is not considered a security. If it were labeled a security, a different approval process would be required. This approval is a significant victory for crypto advocates, highlighting Ethereum’s essential role in the industry. The Ethereum network supports many prominent projects and services, making this recognition crucial for its continued growth. Interestingly, several ETH ETF issuers amended their applications this week, removing language about staking customer ETH. Since Ethereum transitioned to a proof-of-stake system in September 2022, ETH holders have been able to earn rewards by staking their funds. The SEC has previously viewed staking services offered by financial intermediaries as unregistered securities schemes. By removing references to staking, ETF issuers aim to avoid regulatory hurdles and expedite the approval process.

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Interlink Electronics Inc Summary

Interlink Electronics Inc Summary

Interlink Electronics, Inc. designs, develops, manufactures, and sells force sensing technologies that incorporate proprietary material technology, firmware, and software into standard sensor-based products and custom sensor system solutions. The company is headquartered in Irvine, California.

Sector: Technology

Industry: Computer Peripheral Equipment

Symbol: NEC

Market Cap: 47,369,200

Dividend Yield: None

P/E Ratio: -0.14

EPS: 1.396

Profit Margin: -0.0677

Volume: 13,786,000

52-Week High: 21.01

Performance (YTD): -0.047

More about GameStop Corp
GameStop Corp Summary

GameStop Corp Summary

Company: GameStop Corp

Headquarters: Grapevine, Texas

Sector: Trade & Services

Industry: Retail-Computer & Computer Software Stores

Market Cap: 6.219608 billion

Price/Earnings (P/E) Ratio: 1015.66

Dividend Yield: None

EPS: 0.02

ROI: 17.28

Beta: 0.0013

Volume: 5.2728 billion

Revenue: 6.38

Net Income Margin: 0.259

Debt/Equity: -0.194

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