17 April

“Purpose Investements and CI Global Asset Management both received approval to launch an exchange-traded fund (ETF) in Canada that offers exposure to ether. The ETH will be kept in cold storage with Gemini acting as the sub-custodian and CIBC Mellon Global Securities acting as the fund administrator.

The approval comes a little over two months after Canada approved the Purpose Bitcoin ETF which held 10,064 BTC in the first week of trading.

While Bitcoin tends to get a lot of attention as it was the first major cryptocurrency, what Ether and the Ethereum ecosystem represent is one of the most exciting new technology visions today in society.

By launching the first ETF in the world that directly owns and provides exposure to Ether, we are enabling every investor to have access to this unique opportunity and ecosystem.”

“The manager disclosed Thursday its shares in the ETH trust were worth $4.75 million on March 31 and its holdings in the BTC trust were worth $1.92 million. Rothschild is among the first name-brand institutional asset managers to seek ETH exposure.”

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“Options data shows traders’ bullish conviction on bitcoin has strengthened with the cryptocurrency’s positive performance in the first half of April.

In the past 24 hours, traders have bought more than 2,000 contracts of the $80,000 call option expiring on April 30, pushing the open interest to 8,476.6 contracts – the highest among the April expiry options. The $80,000 call represents a bet that bitcoin would settle above that level on the expiry date.”

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“Two months after opening up its waitlist for Ethereum 2.0 staking, US-based cryptocurrency exchange Coinbase says some of its customers can now start earning rewards on their Ethereum holdings. Coinbase users can earn up to 6% interest annually.

The good news is that you can stake any amount of Ethereum you own via Coinbase. The downside is that you won’t be able to send, sell, or trade it at your leisure.

Coinbase expects to offer a way to trade any staked Ethereum in the coming months.”

“The price of MKR has increased by almost 100% in the past week, rallying from a low of $2,011 on April 7 to a new all-time high at $4,096 on April 15.

Holding MKR is required in order to participate in the governance of the protocol and the increasing number of governance proposals to vote on has led to a higher demand for MKR, pushing its price higher.

The rising supply of DAI has coincided with a surge in the total value locked (TVL) in the Maker protocol which has made the project the second-ranked DeFi protocol behind Compound which has a $9.28 billion TVL. Growth in the supply of DAI is in part due to its use across a number of DeFi protocols including AAVE, Compound (COMP) and Cream Finance (CREAM) as the go-to option for a decentralized stablecoin.”

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“There are more than 8,000 monthly active developers working on various cryptocurrency projects, according to the Developer Report, with some 80% of those developers starting in the last two years.

The current leader in terms of people actively contributing to the development of a network is Ethereum, with approximately 2,300 average monthly developers. The number actively working on Ethereum has grown by 215% in 3 years. But there are a number of other communities also seeing strong growth.

Polkadot doubled its developer count in 2020, to nearly 400 active developers. Another project that has been gaining traction has been Filecoin. The decentralized storage network tripled its developer count between Q3 of 2019 and Q3 of 2020. Near, Flow, Avalanche, Uniswap, Balancer, Arweave Have More Than Tripled Their Developers.”

“The Ethereum Name Service (ENS) has minted non-fungible tokens (NFTs) representing 25 top-level domains. These include domains such as “.hiphop,” “.click,” “.game,” and “.audio,” among a number of others. The NFT acts as part of the mechanism that easily allows TLD owners to hold control of their TLD on ENS. These NFTs represent control of an entire TLD on ENS.

This is an important step in bringing together the worlds of traditional DNS and blockchain-based ENS in a complementary way, in which owning a name on DNS automatically implies owning the same on ENS on the Ethereum blockchain.

ENS allows Ethereum users to put “human readable names” in place of long wallet or service addresses, making it easier for individuals to transfer funds, use smart contracts or otherwise develop projects. The bottom line is that it should be increasingly easier for people to use a traditional DNS name as their ENS name for crypto payments.”

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“Federal Reserve Bank of Dallas President Robert Kaplan said bitcoin is a “store of value” that’s not yet ready for wider adoption as a medium of exchange.

Right now it’s clear it’s a store of value. It obviously moves a lot in value, which could keep it from spreading too far as a medium of exchange and wide adoption, but that can change.”

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Dogecoin (DOGE), the popular cryptocurrency created as a joke in 2013, now has a market cap of $52 billion after tripling in the past 24 hours. That’s bigger than several major banks such as Barclays, which has a market cap of $44 billion.

DOGE’s market cap has also surpassed bitcoin cash (BCH) and chainlink (LINK) and is now ranked as the fifth-most valuable cryptocurrency. It’s important to note the market capitalization of DOGE is based on an assumed number of outstanding tokens, but many of them are presumed to be no longer in circulation.”

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“Robinhood has continued a pattern of aggressively inducing and enticing trading among its customers — including Massachusetts customers with little or no investment experience.

The firm has filed a lawsuit seeking to invalidate a recently adopted fiduciary rule in Massachusetts that state regulators have accused it of violating. Adopted in 2020, the rule requires broker-dealers to act in their clients’ best interest.

Robinhood has been also experiencing a number of technical issues, reportedly causing major losses for traders and triggering further legal action against the company.”

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