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cointelegraph.com Mar 11, 2025 20:35

Cboe seeks to add staking to Fidelity’s Ether ETF - Securities exchange Cboe BZX is seeking permission from US regulators to incorporate staking into Fidelity’s Ether exchange-traded fund (ETF), according to a March 11 filing. The filing marks Cboe’s latest attempt to support staking for the Ether (ETH) funds traded on its US exchange. Cboe’s proposed rule change would allow Fidelity Ethereum Fund (FETH) to “stake, or cause to be staked, all or a portion of the Trust’s ether through one or more trusted staking providers,” the filing said.The Fidelity Ethereum Fund is among the most popular Ether ETFs, with nearly $1 billion in assets under management, according to data from VettaFi. In February, Cboe asked permission to add staking to another Ether ETF, the 21Shares Core Ethereum ETF.Staking Ether enhances returns and involves posting ETH as collateral with a validator in exchange for rewards.As of March 11, staking Ether yields approximately 3.3% APR, denominated in ETH, according to Staking Rewards.Other popular cryptocurrencies, including Solana (SOL), also feature staking mechanisms. Staking rewards by asset type. Source: Staking RewardsRelated: SEC seeks comment on in-kind redemptions for Bitcoin, Ether ETFsProposed rule changesThe US Securities and Exchange Commission must still approve Cboe’s proposed rule changes before staking can commence.In February, the SEC acknowledged more than a dozen exchange filings related to cryptocurrency ETFs, according to records.The SEC’s acknowledgments highlight how the agency has softened its stance on crypto since US President Donald Trump started his second term on Jan. 20. In addition to staking, the filings, submitted by Cboe and other exchanges, addressed proposed rule changes concerning options, in-kind redemptions and new types of altcoin funds.Cboe has also asked permission to list Canary and WisdomTree’s proposed XRP (XRP) ETFs and support in-kind creations and redemptions for Fidelity’s Bitcoin (BTC) and ETH ETFs, among other proposed changes.Magazine: MegaETH launch could save Ethereum… but at what cost?

FOMO: 85%
cointelegraph.com Mar 12, 2025 02:07

Senator Lummis’ new BITCOIN Act allows US reserve to exceed 1M Bitcoin - US Senator Cynthia Lummis’ newly reintroduced BITCOIN Act will allow the government to potentially hold more than 1 million Bitcoin as part of its newly established reserve.The bill, first introduced in July, directs the US government to buy 200,000 Bitcoin (BTC) a year over five years for a total acquisition of 1 million Bitcoin, which would be paid for by diversifying existing funds within the Federal Reserve system and the Treasury department. However, the reintroduced act, the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2025, opens the door for the US to acquire and hold in excess of 1 million BTC as long as it is acquired through lawful means other than direct purchase, such as civil or criminal forfeitures, gifts made to the US or transfers from federal agencies.Proud to re-introduce the BITCOIN Act. Let’s secure America’s financial future.pic.twitter.com/jJFmMopP7h— Senator Cynthia Lummis (@SenLummis) March 11, 2025The extra Bitcoin can also come from US states that voluntarily store their Bitcoin holdings in the strategic Bitcoin reserve, though it’ll be stored in a segregated account. “By transforming the president’s visionary executive action into enduring law, we can ensure that our nation will harness the full potential of digital innovation to address our national debt while maintaining our competitive edge in the global economy,” said Lummis, who announced the revamped bill during a March 11 conference hosted by The Bitcoin Policy Institute. Lummis taps new bill co-sponsorsThe BITCOIN Act also has a number of new co-sponsors, including Republican Senators Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn and Bernie Moreno. “I’m proud to join Senator Lummis on this common-sense bill to create a strategic Bitcoin reserve and codify President Trump’s executive order,” Justice said in a statement. “This bill represents America’s continued leadership in financial innovation, bolsters both our economic security, and gives us an opportunity to wrangle in our soaring national debt,” he added. Other changesThe bill also now sets a formal evaluation process for Bitcoin forked assets and airdropped assets in the reserve. Initially, the bill required all forked assets to be stored in the reserve and couldn’t be sold or disposed of for five years unless authorized by law. Related: Texas Senate passes Bitcoin reserve bill, New York targets memecoin rug pulls: Law DecodedThe new bill now directs the Secretary after the mandatory holding period to evaluate and retain the most valuable asset based on market capitalization while retaining the “dominant asset.” Bitcoin has hard forked a number of times in the past to create new cryptocurrencies, most notably Bitcoin Cash (BCH), which forked on Aug. 1, 2017, and Bitcoin Gold (BTG), which forked on Oct. 24, 2017. Lummis’ reintroduced bill comes just days after US President Donald Trump signed an executive order to create a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”The reserve and stockpile will initially use cryptocurrency forfeited in government criminal and civil cases, but the reserve won’t sell the stashed Bitcoin and will use “budget-neutral” ways to increase its size, while tokens from the stockpile could be sold.Magazine: The Sandbox’s Sebastien Borget cringes at the word ‘influencer’: X Hall of Flame

FOMO: 90%