Fun

EU markets will pave the way for first Ether staking ETF: dYdX CEO

News Feed - 2024-07-19 10:07:00

Zoltan Vardai10 hours agoEU markets will pave the way for first Ether staking ETF: dYdX CEOWhile the US markets are not yet prepared for an Ether staking ETF, the European markets might lead the way by introducing the first staked exchange-traded fund.1050 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe European markets could see the introduction of the first Ether staking exchange-traded fund (ETF) as a potentially significant move for cryptocurrency adoption.


According to Charles d’Haussy, CEO of the dYdX Foundation, the cryptocurrency industry might soon see its first ETF based on Ether (ETH) staking. This would mark a significant milestone in the adoption of crypto ETFs.


Speaking exclusively to Cointelegraph at EthCC, d’Haussy said that the next significant question is the debut of the first Ether staking ETF:“The US is probably not ready for that, but the European market or some adjacent market will give us a way into Ethereum staking ETFs.”


ETFs can bring significant inflows for the underlying crypto asset and significantly contribute to its price appreciation. For Bitcoin (BTC), ETFs had accounted for about 75% of new investment in the world’s largest cryptocurrency by Feb. 15, as it surpassed the $50,000 mark.


D’Haussy added that he is bullish on the next Ether ETF, whether that will be an Ether staking ETF or staked Ether ETF, which could have different implications. He explained:Charles d"Haussy, dYdX CEO, interview with Zoltan Vardai. Source: Cointelegraph


Related:Institutions are more bullish on Ether than retail ahead of ETH ETF launchUS spot Ether ETFs launch is “imminent”


Meanwhile, the industry is eagerly expecting the launch of the first batch of US spot Ether ETFs, which could debut as soon as next week.


When asked about the debut of the first spot Ether ETFs, d’Haussy said that it is only a matter of time:“The [Ether ETF] launch is imminent. We can’t wait any more. [I] think we’re talking about weeks.”dYdX’s Charles d"Haussy (right) and Cointelegraph’s Zoltan Vardai (left).


Out of all the prospective Ether ETF issuers, Grayscale’s fund came in with the lowest waiver fee of 0.15%, according to James Seyffart, an ETF analyst at Bloomberg.Eth ETF issuer fees. Source: James Seyffart


Related:Ether ETF opens the floodgates for Solana ETFs and crypto products: AnalystEther ETF will capture around 25% of Bitcoin ETF AUM


Despite the growing anticipation around Ether ETFs, some investors fear incoming disappointment in terms of inflows.


However, dYdX’s d’Haussy expects Ether ETFs to capture around 25% of the assets under management (AUM) of the current spot Bitcoin ETFs. He said:“Of the AUM in crypto ETFs, 75% will be Bitcoin and 25% will be ETH. Why? I’m thinking this way if I look at the smaller-size ETFs and ETPs, which have been released in European markets, you find this proportion.”


The US spot Bitcoin ETFs have amassed over $57.1 billion worth of total onchain holdings since their launch in January, according to Dune. Ether ETFs would capture over $14.2 billion worth of inflows in the first six months if they manage to replicate 25% of Bitcoin ETF inflows.US Bitcoin ETF inflows. Source: Dune


Yet the Ether ETFs may only be a “sidekick” to the more established spot Bitcoin ETFs in terms of inflows, according to Eric Balchunas, senior ETF analyst at Bloomberg. Balchunas told Cointelegraph:“Bitcoin is like enough crypto hot sauce. You’re like, ‘You know, I’m good.’ These things move together anyway. Ethereum is harder to explain, but I’m just seeing it being a sidekick [to Bitcoin].”


Magazine:Could a financial crisis end crypto’s bull run?# Ethereum# Adoption# Ethereum ETFAdd reaction

News Feed

Crypto’s ‘Alameda Gap’ vanishes amid Bitcoin’s meteoric rise: Kaiko
Martin Young5 hours agoCrypto’s ‘Alameda Gap’ vanishes amid Bitcoin’s meteoric rise: KaikoCrypto market depth has almost fully recovered and is back to its pre-FTX average, reports crypto research firm Kaiko.2201
Ana Paula Pereira11 hours agoCleanSpark’s Bitcoin mining capacity hits 8 EH/s as new facility goes liveThe Bitcoin mining company kicked off the second phase of its mining campus in Georgia, gearing up for the next Bit
South Africa Police Issue Arrest Warrant for Fraud-Accused Crypto Trader
South Africa Police Issue Arrest Warrant for Fraud-Accused Crypto Trader Reports from South Africa say the country’s police have now issued a warrant for the arrest of Sandi
Singapore Grants Crypto Licenses to DBS and Independent Reserve
Singapore Grants Crypto Licenses to DBS and Independent Reserve The Monetary Authority of Singapore (MAS), the country’s central bank, has formally approved two companies to
Litecoin Holds Bullish Outlook As the MVRV Ratio Signals Strength – Analyst
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Cryptocurrency Adoption Passes Another Milestone Surpassing 100 Million Users
Cryptocurrency Adoption Passes Another Milestone Surpassing 100 Million Users According to a new study conducted by Crypto.com, the total number of global crypto
MetaWars Launches Strong, Now Looking to the Future
MetaWars Launches Strong, Now Looking to the Future press release PRESS RELEASE. MetaWars, a space-themed play-to-earn blockchain game utilising high-tech NFTs, is looking forward t
3 reasons why Ether price remains bullish around $3,500
Nancy Lubale8 hours ago3 reasons why Ether price remains bullish around $3,500Despite Bitcoin’s sell-off to $65,000, ETH continues to show strength, and bulls appear to be strengthening at the $3,500 level.995 Total vi
Meme Coin Market Cap Loses 3.5%, Top 2 Leaders Dogecoin, Shiba Inu Shed Billions
Meme Coin Market Cap Loses 3.5%, Top 2 Leaders Dogecoin, Shiba Inu Shed Billions While crypto-asset markets have shed billions during the last week, the top meme tokens coins by ma
Ukraine’s Largest Bank Suspends Money Transfers to Crypto Exchanges
Ukraine’s Largest Bank Suspends Money Transfers to Crypto Exchanges Privatbank, the largest commercial bank in Ukraine, has temporarily halted transfers in national currency to d
Bitcoin Near ‘Extreme Bubble’ but Tesla More Vulnerable: Deutsche Bank Survey
Bitcoin Near "Extreme Bubble" but Tesla More Vulnerable: Deutsche Bank Survey Deutsche Bank has conducted a survey about financial bubbles. Eighty-nine percent o
Ana Paula Pereira2 hours agoCrypto Biz: Coinbase’s lending bet, a new ads policy at Google and Marathon’s mining performanceThis week’s Crypto Biz explores Coinbase"s lending platform, Marathon Digital’s latest B