NYSE seeks the approval of the SD for the rethinking of ETF Ethereum Bitwise

The New York Stock Exchange has submitted a proposal to the United States Stock Exchange and Securities Commission to allow the participation of funds quoted in ethereum Bitwiseum.

According to March 20 presentation With the SEC, the proposal seeks regulatory approval to integrate participation in the structure of the ETF. This amendment, if approved, would allow the background to use a method known as a rethink of “pointing and clicking” to rethink a part of your ethereum (eth) while maintaining control over the assets. This approach reduces safety risks by ensuring that the eth stamped remain in the wallet.

The ETFs of ethereum were launched in July 2024, but the interest in them has been less than that of bitcoin ETF (btc). According to Sosovalue <a target="_blank" href="https://m.sosovalue.com/assets/etf/us-btc-spot” target=”_blank” rel=”nofollow”>dataAs of March 20, ethereum ETFS had $ 6.79 billion in total net assets, but during the previous 7 days, there have been $ 84 million in cumulative departures. In contrast, the ETF Spot bitcoin have obtained $ 94.47 billion in total net assets.

Speaking at the Digital Assets Summit on March 20, Robbie Mitchnick, head of digital assets at Blackrock, fixed that ETFs of ethereum are less attractive due to the absence of rethinking rewards. He stressed that Reading is an essential component of ethereum and a significant means of profits for investors. According to Mitchnick, enabling the bet could indicate a great change for ETF of ethereum, attracting more investors.

Bet, introduced when ethereum changed stagnation in 2022, allows eth holders to block their tokens in exchange for rewards. With current yields ranging from 2% to 7% per year, it is a valuable investment. Meanwhile, eth deposits have exceeded 33 million eth, which represents 27% of the total eth supply in circulation, according to Coinbase <a target="_blank" href="https://www.coinbase.com/earn/staking/ethereum#:~:text=What%20percentage%20of%20Ethereum%20is,%2C%2027.82%25%20is%20currently%20staked.” target=”_blank” rel=”nofollow”>data.

In addition to ETFs, the rethink can improve ethereum market performance. eth has fallen 47% since its maximum of December of $ 4,105 to $ 1,990, which makes it one of the main weaker yield cryptocurrencies. If ETFS is allowed to be responsible, eth demand can increase as more institutional investors enter the market.