AI Cryptos vs. Memecoins: The Battle for Bigger Returns

PANews reported on October 8 that according to GMGN market data, the market value of the BSC ecological Meme coin "Customer Service Xiao He" briefly reached US$89.64 million, setting a historical high. It is now reported at US$81.43 million, with a 24-hour trading volume of US$94.6 million.

Deutsche bank forecasts that by 2030, Bitcoin will be used by central banks as an additional reserve asset besides gold. The report points out Bitcoin as increasingly legitimate with reduced volatility and its possibility as an inflation and geopolitical risk hedge. According to analysts, the emergence of the cryptocurrency is an indication that the world […]

The post Grayscale Stakes $150M ETH, Industry Awats Staking ETP Approval appeared on BitcoinEthereumNews.com. Crypto-focused asset manager Grayscale staked $150 million worth of Ether after introducing staking for its exchange-traded products (ETPs) on Monday. The asset management company staked 32,000 Ether (ETH) worth $150 million, according to blockchain data platform Lookonchain. The transfer occurred a day after Grayscale introduced staking for its Ether ETPs, making it the first US-based crypto fund issuer to offer staking-based passive income for its funds. The move enables Grayscale’s ETP and its shareholders to start earning passive income via staking rewards on the $150 million. These staking rewards will be treated as “assets of the fund,” according to Grayscale’s ETP Staking Policy. Deducting sponsor and custodian fees, the fund’s shareholders will earn up to 77% of the total generated staking rewards with Grayscale’s Ethereum Trust and about 94% with the Ethereum Mini Trust, based on the fee structures disclosed in the SEC filings. Source: Lookonchain Both Grayscale Ethereum Trust ETF (ETHE) and Grayscale Ethereum Mini Trust ETF (ETH) are exchange-traded products registered under the Securities Act of 1933, not the Investment Company Act of 1940, the latter being the regulatory framework used for traditional mutual funds. This makes ETPs structurally different from ETFs governed by the 1940 Act. At least two additional Ether staking-enabled funds are expected to receive a response from the US Securities and Exchange Commission (SEC) in October. Related: Korean retail capital driving Ether price, treasury demand: Samson Mow SEC faces deadlines on 16 altcoin ETPs in October October is shaping up as a promising month for crypto, with 16 crypto ETP applications on the SEC’s calendar for the month. Of the 16, at least two crypto staking funds are awaiting a decision during the month, including the 21Shares’ Core Ethereum ETF (TETH) staking filing scheduled for Oct. 23 and BlackRock’s iShares Ethereum Trust (ETHA) ETP amendment seeking to add…