Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
The SEC’s Enforcement Division is dropping its investigation into whether Ethereum is a security in a major win for crypto. Meanwhile, Hashdex plans to launch a combined Bitcoin and Ether crypto fund on Wall Street, pending regulators’ green light in the United States and the memecoin market has been on a sharp decline.
SEC to drop investigation into Ethereum: Consensys
The United States Securities and Exchange Commission is dropping its investigation into whether Ether ETH$3,525 is a security.
“The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,” Ethereum developer Consensys said in a June 19 X post.
“This means that the SEC will not bring charges alleging that sales of ETH are securities transactions,” which the firm hailed as a “major win for Ethereum developers, technology providers, and industry participants.”
Consensys said the SEC’s decision came after it sent a letter to the agency on June 7 asking if it would end its investigation into Ether as the regulator approved spot ETH exchange-traded funds (ETFs) in May, which the firm said was “premised on ETH being a commodity.”
Hashdex files with SEC for combined spot Bitcoin and Ether ETF
Hashdex has proposed in a June 18 filing with the United States Securities and Exchange Commission (SEC) to create a combined spot Bitcoin (BTC) and Ether (ETH) exchange-traded fund on the Nasdaq exchange.
The proposed ETF would balance crypto assets according to their market capitalizations, which stood at 70.54% BTC and 29.46% ETH on May 27. According to Hashdex, its passive investment strategy would track the daily market movement on the Nasdaq Crypto US Settlement Price Index without trying to “beat” it.
Both Coinbase and BitGo will serve as custodians for the BTC and ETH assets. A combined-asset ETF “makes a lot of sense,” analyst James Seyffart said on X.
Bitcoin NFTs surpass Ronin in all-time sales
Bitcoin-based nonfungible tokens (NFTs) recorded a sales volume of $148 million in the last 30 days, surpassing the Ronin blockchain, which previously held the third-highest record for all-time NFT sales.
In the last 30 days, Bitcoin-based NFTs recorded a sales volume of $148 million. This puts them in the top two spots for the month, following Ethereum, which had a volume of $157 million. Solana followed closely with around $77 million.
Despite the millions in sales recorded, NFTs experienced a downturn in volume, with the top three chains showing at least a 40% decline in 30-day sales, according to CryptoSlam.
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