Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The launch of U.S. spot Ethereum ETFs by late June seems increasingly likely following BlackRock’s recent update. These ETFs are expected to drive ETH prices higher or potentially pressure them lower. Meanwhile, Uniswap's price surged to $9.67 due to market excitement over the potential approval of the first spot Ethereum ETF.
BlockDAG releases Keynote 2, capturing the attention of the market. This event introduced the cutting-edge X1 Miner app and highlighted BlockDAG's strategic milestones and with BlockDAG's innovative approach, project aims to reach new heights in the foreseeable future.
BlackRock advances spot Ethereum ETF amid launch speculation
The launch of U.S. spot Ethereum ETFs by late June appears increasingly likely following BlackRock’s recent update to its Form S-1 for its iShares Ethereum Trust (ETHA). This update comes after the SEC approved BlackRock’s 19b-4 filing. Analysts from Bloomberg see this as a positive sign of cooperation between issuers like BlackRock and the SEC, predicting a potential launch by the end of June.
BlackRock’s filing detailed a $10 million seed capital investment and in-kind transaction possibilities, though approval is uncertain. The introduction of spot Ethereum ETFs is expected to drive ETH prices higher but may also pressure prices due to potential outflows from the Grayscale Ethereum Trust.
Uniswap price surges amid spot ETH ETF speculation
Since the end of the Bitcoin Halving, Uniswap (UNI) has fluctuated between $8.35 and $6.6. However, during the final week of May 2024, Uniswap's price surged to $9.67 due to market excitement over the potential approval of the first Spot Ethereum ETF.
This monthly high marks a notable increase from its low of $6.57, indicating a shift in Uniswap's market dynamics. If UNI maintains its breakout at $8.35, buyers may find support to drive a rally toward $13.3 by the end of Q2 2024.
BlockDAG's Keynote 2 reveals developments
BlockDAG's recent Keynote 2 presentation marking a notable achievement with the recent debut of the X1 Miner app. Now accessible to Android and Apple users in beta, this app highlights BlockDAG's commitment to democratising technology. The X1 Miner app is crafted to be lightweight, boasting a mere 50MB download size, and empowers users to mine up to 20 BDAG coins daily.
The X1 Miner app introduces user-friendly functionalities such as Wireframe & UI Designing and User Onboarding, while seamlessly integrating Wi-Fi connectivity to ensure a revolutionary mining experience, enhancing user engagement.
The fervour surrounding BlockDAG is further fueled by the unveiling of over 45 innovative updates during the keynote. This technological leap is accentuated by the forthcoming documentary and DOXing video, offering a comprehensive glimpse into the human team behind BDAG and their developmental odyssey, fostering transparency and fortifying community trust.
Amid these strides, BlockDAG garners recognition optimism, presenting an enticing opportunity for those investors who are willing to gain an exposure to early projects.
Dan Burgin
