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Category: News, NFT News

Ether Hits 2-Week High After Ark Amends ETF Filing

Top gainers include Dymension (DYM), Monero (XMR), and Jupiter (JUP). […]

Top gainers include Dymension (DYM), Monero (XMR), and Jupiter (JUP).

Ether rallied after Ark Invest, an asset management firm known for its tech-forward offerings, amended its filing for a spot ETH ETF on Feb. 7.

One key change from ARK is a cash creation and redemption mechanism, which Bloomberg analyst Eric Balchunas said would “bring [the application] in line with the recently approved spot BTC ETF prospectus.”

The amendment also introduces the possibility of staking the ETH tokens backing the potential ETF.

ETH jumped to $2,421, gaining nearly 2% in an hour. The second largest digital asset hasn’t traded above $2,400 since Jan. 22.