The US Securities and Exchange Commission (SEC) is facing the need to regulate new cryptocurrency exchange-traded funds (ETFs) that offer investors earnings through staking, as reported by Bloomberg.
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According to CoinMarketCap, the Ethereum Foundation is tightening its spending strategy and ramping up support for the decentralized financial system (DeFi). Such changes should help the EF prepare for future challenges.
Coinotag reports that Ethereum's price has risen above $2,600 following a record influx of investment in cryptocurrency-backed ETFs from BlackRock. The company purchased more than 9,000 ETH worth approximately $50 million.
A recent rebound in Ethereum's price has been largely supported by institutional investors, and especially by large asset managers such as BlackRock and Fidelity, as reported by Coinotag.
According to Coinotag, the Ethereum price on the four-hour chart exhibits a robust upward trend. Technical indicators collectively suggest Ethereum is poised for continued growth. Meanwhile, the $2,713 level has emerged as an immediate resistance zone.
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