A significant surge in cryptocurrency adoption has been seen globally in the past few months. As per speculation, the growth is fueled by the approval of spot ETFs of Bitcoin and Ethereum in 2024.
According to recent information, Wisdom Tree, a known asset manager, has withdrawn its Ethereum Trust S-1 filing. Additionally, in an initial move, the institution filed its application under the United States Securities and Exchange Commission.
The filing with the SEC notes that “The Registration Statement was originally filed on May 27, 2021. The Company confirms that no securities have been or will be issued or sold pursuant to the Registration Statement.”
Following the withdrawal of the application, Wisdom Tree argued that it did not get the charges that it submitted to the SEC during the filing in 2021. However, the asset manager requested the regulatory commission to credit the amount for future usage.
As per the official website of Wisdom Tree, it has over $79.1B U.S.-listed Funds AUM and more than $29.3B Europe-listed Funds AUM. The Bitcoin Fund managed by Wisdom Tree has $195,668.43 assets under management.
Ethereum ETFs Category Overview
While referring to Coinglass, the broader Ethereum ETF category has $216.52 Million in volume, $6.12 Billion in market capitalization and $6.23 Billion in total assets under management.
Grayscale Ethereum Mini Trust (ETH) ETF is valued at $2.09, followed by 21Share Core Ethereum ETF at $11.11, Bitwise Ethereum ETF at $15.95 and iShare Ethereum Trust ETF at $16.83.
The information further notes that GrayScale Ethereum Mini Trust is one of the most traded ETFs with a volume of $92.44 Million, followed by ETHA with $46.13 Million.
However, another Ether ETF powered by GrayScale, ETHE, constantly mirrors an outflow, losing 4.52k in ETH on September 06, 2024; now it holds 1,765,428.67 Ethereum holdings.
ETHA by BlackRock has gathered colossal attention and has mirrored a massive inflow of 333.05k from August 23, 2024, till September 06, 2024.
Crypto Market Price Update
In the past 24 hours, the broader cryptocurrency market has continued to bleed, losing more than 4.20% of the market capitalization and reaching $1.87 trillion. Market experts claim that constant sell-offs and solid bear dominance have dragged the market below 20,50,100, and 200 days EMA.
In a week, the entire market capitalization fell more than 7.20% and declined more than 24 percent in a quarter. Bitcoin, the coined pioneer of the broader market, is falling freely and lost over 4.20% of its trading price intraday and 8.24% in the past seven days.
When writing, BTC was trading at $54,165 with a boost of 60% in trading volume; the intraday volume was majorly dominated by the bears, dragging its price below the mark of $55k.
The fear and greed index powered by CoinMarketCap is at 26, constantly reflecting immense fear in the market sentiment. KuCoin Token (KCS) led the intraday loser list, falling 6.02 percent, reaching $7.74.
The intraday gainer list is ruled by Starknet (STRK) as it added 8.66% to its price, reaching $0.4222, followed by JasmyCoin (JSMY), reaching $0.0186, adding 3.09%.
