Cash ETH ETFs Get Green Light, and other News

VanEck: “Enter the Ether”

Ethereum Spot ETFs proposed by BlackRock, Grayscale Investments, Fidelity, ARK 21Shares, Invesco Galaxy, Franklin Templeton, VanEck and Bitwise have been approved by the U.S. Securities and Exchange Commission (SEC).

However, the trading of these investment products will not take place until the S-1 filings, a document in which issuing companies detail their risk profile, finances and the securities they intend to offer these financial instruments, are approved.

James Seyffart, a Bloomberg analyst, pouted the following om X:

“TO BE CLEAR: This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We’re expecting it to take a couple weeks but could take longer. Should know more within a week or so!”

Marathon Digital Partners with the Government of Kenya

Marathon Digital, the Bitcoin mining company, has partnered with the Republic of Kenya’s Ministry of Energy and Petroleum (MOEP). This through the investment of over $80 million. In this regard, Fred Thiel, CEO of Marathon Digital, commented that the agreement will seek to monetize underutilized energy across Kenya and develop joint technology projects.

Commenting on the agreement, the Marathon Digital team said that the investment will allow for the construction and adaptation of green data centers, supported by renewable energy for cryptocurrency operations, in addition to providing benefits to the African country’s national electricity system through financing.

Approval of Ethereum ETFs in Cash Boosts Solana

The recent approval of Ethereum Spot ETFs has caused a lot of backlash in the industry. In this context, Geoffrey Kendrick, an analyst at Standard Chartered, stated that this launch could set a precedent in the market and cause a “domino” effect. In fact, he believes that 2025 could see a wave of ETFs on different cryptocurrencies, highlighting XRP and Solana.

Likewise, CNBC’s “Fast Money” trader Brian Kelly also raised the possibility of SOL being the next cryptocurrency to get a U.S. ETF: “You have to look at Solana as the next one. Bitcoin, Ethereum and Solana are probably the big three for this cycle.”

Glassnode: BTC Prepares for a “Big Move” to the Upside

In its latest report, cryptocurrency market analysis firm Glassnode predicts days of high price volatility for bitcoin (BTC). “While capital inflows remain modest, the slowdown in selling and compression in volatility suggest that a larger move could be on the horizon.”

Meanwhile, the Binary Long-Term Holders (LTH) Spending Binary indicator has been declining in recent weeks, suggesting less distribution pressure. “As of the last few weeks however, this distribution pressure has eased off markedly, giving the bulls more breathing room, and less resistance overall.”

Paraguay Intensifies its Fight Against Illegal Bitcoin Mining

As reported by the National Electricity Administration (ANDE), an intervention was carried out against a bitcoin mining farm that was apparently illegally connected to the power grid. In fact, ANDE highlights that they used technological tools, including artificial intelligence, which was used to detect “significant electrical variations”. This allowed technicians to identify and verify such fluctuations, which they linked to illegal bitcoin mining.

In fact, the operation against illegal bitcoin mining is not an isolated case in Paraguay. A few days earlier, the official account of the National Electricity Distribution Agency reported another raid in the district of Sapucái, Paraguarí, allegedly linked to a former congressman.

By Audy Castaneda