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The United States Securities and Exchange Commission isn't likely to block the debut of Ethereum futures ETFs, according to sources. The price of Ether (ETH) surged around 11% to $1,700 following news that the United States Securities and Exchange Commission is set to allow the first exchange-traded funds (ETFs) based on Ether Futures. According to an Aug. 17 report from Bloomberg — which cited anonymous sources familiar with the matter — the regulator does not look as though it will block the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise and Roundhill, that have filed to launch Ether (ETH) futures ETFs in recent weeks. Breaking The SEC is expected to green light an ETH futures ETF The beginning of something potentially massive here… pic.twitter.com/x9KtOpCqei — Bankless (@BanklessHQ) August 17, 2023 It remains unclear which ETF applications would be approve d by the SEC; however, officials indicated that several of the filings may be...

Roger Ver said that Ethereum, not Bitcoin, will lead the most new users to crypto. Early Bitcoin (BTC) investor and Bitcoin Cash (BCH) advocate Roger Ver claimed that Ethereum, not Bitcoin, will be responsible for driving the bulk of new users towards crypto .  On a May 31 episode of the Show Me The Crypto podcast, Ver — labeled “Bitcoin Jesus” for his early Bitcoin advocacy — said that despite Ethereum’s scaling issues and the other layer-one “clones” that have popped up in its wake, the Ethereum ecosystem is still where the action is: “Even though Ethereum doesn’t have the biggest market cap compared to Bitcoin, I think Ethereum is the front-runner in terms of driving worldwide adoption.” Ver praised the rise of Ethereum Virtual Machine-compatible (EVM) blockchains and layer-2 scaling solutions such as Polygon (MATIC) that can help share some of the load away from the main chain. Ver provides an account of the “civil war” that occurred in the early days of Bitcoin between Etheruem’...

Ethereum Foundation's previous big sale of ETH preceded a bear market, but there's little evidence that such sales affect the general market trend. On May 6, Ethereum Foundation transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event. ETH price fell 4.8% to $1,900 on the day, but the decline has been negligible so far amid a wider recovery trend. ETH price holding key support Ether's price recovered modestly to $1,920 on May 7 after testing its 50-day exponential moving average (50-day EMA; the red wave) near $1,850 as support a day ago. Moreover, the price volatility dropped on Kraken in the said period, per the contracting Bollinger Bands Width in the chart below. That further shows traders' calm amid the Ethereum Foundation transfer. Notably, the 50-day EMA has capped Ether's downside attempts so far in 2023, barring the early March selloff that saw the price briefly fal...