Connect with us

Business

Hashdex withdraws spot Ether ETF application

In a surprising move, Hashdex, a prominent crypto asset management firm, has decided to withdraw its application for a spot Ether exchange-traded fund (ETF). The application, initially filed with the U.S. Securities and Exchange Commission (SEC), was expected to pave the way for investors seeking direct exposure to Ether, the second-largest cryptocurrency by market capitalization.

Published

on

In a surprising move, Hashdex, a prominent crypto asset management firm, has decided to withdraw its application for a spot Ether exchange-traded fund (ETF). The application, initially filed with the U.S. Securities and Exchange Commission (SEC), was expected to pave the way for investors seeking direct exposure to Ether, the second-largest cryptocurrency by market capitalization.

Hashdex’s decision comes amid increasing regulatory scrutiny and a complex approval process for cryptocurrency-related financial products. The firm had hoped to launch one of the first spot Ether ETFs in the U.S., following the success of Bitcoin ETFs and the growing interest in Ethereum-based products.

The withdrawal of the application has raised questions about the future of spot Ether ETFs in the U.S. market. Industry experts suggest that regulatory hurdles and the SEC’s cautious approach to cryptocurrency products may have influenced Hashdex’s decision. The SEC has been known for its stringent requirements and lengthy review process for crypto ETFs, often citing concerns over market manipulation and investor protection.

Despite the setback, Hashdex remains committed to its broader strategy of offering innovative crypto investment solutions. The company continues to explore other avenues for expanding its product offerings and providing investors with diverse opportunities to participate in the burgeoning digital asset market.

Hashdex’s move highlights the ongoing challenges faced by crypto asset managers in navigating the regulatory landscape. While the demand for Ether and other cryptocurrency investment products remains high, the path to regulatory approval continues to be fraught with uncertainty.

As the crypto industry evolves, stakeholders will be closely watching the SEC’s stance on future applications for spot Ether ETFs and other digital asset products. Hashdex’s decision to withdraw its application underscores the importance of regulatory clarity and the need for a more streamlined approval process to foster innovation and growth in the crypto financial sector.

Business

Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

Published

on

Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

Continue Reading

Business

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

on

Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk