Latest news with #LukeNolan
Yahoo
09-05-2025
- Business
- Yahoo
Ethereum ETFs Jump Post 'Pectra' Network Upgrade
Spot Ethereum ETFs, including the iShares Ethereum Trust (ETHA), soared for a second day after upgrades at the second-largest cryptocurrency boosted optimism that it will compete better against other digital tokens, such as Solana, that are competing for market share. The $2.3 billion ETHA, the largest spot Ethereum ETF, jumped 8.4% as of midday Friday. That follows yesterday's 18.2% gain. Still, even with today's gain, the fund has dropped 43% since closing at $30.69, its highest price since spot Ethereum ETFs began trading in June. Ether, the token that trades on the Ethereum network, has gained 25% over the past 48 hours, according to CoinMarketCap, since implementation of the so-called Pectra upgrade. Among a host of improvements, the changes are intended to boost capacity, reduce stress and otherwise improve the system as other digital currencies gain in price. 'Ethereum is now focused on increasing transaction capacity and speed, which is likely to help it play 'catch up' to alternatives like Solana,' Luke Nolan, senior Ethereum research associate at London-based Coinshares, said in an email. 'This is a stark change from the 'slower' and more academic approach that Ethereum developers were taking previously.' While Ethereum ETF prices have jumped in the past few days, investors are largely staying on the sidelines and not putting new money into the largest funds trading the spot token. Since Friday, May 2, investors have pulled a net $1.7 million from ETHA and $12 million from the second-largest, the $2 billion Grayscale Ethereum Trust ETF (ETHE). The next-largest, the $867 million Grayscale Ethereum Mini Trust (ETH), had $12 million in inflows on May 2, while the $167.4 million Bitwise Ethereum ETF (ETHW) has had neither inflows or outflows over the period. Ethereum funds jumped in late April and pulled in a quarter of a billion dollars in new money on bets that the Securities and Exchange Commission will permit so-called staking—the cryptocurrency's validation mechanism that acts as a sort of yield device—in the ETFs. The token has still dropped 25% over the past year, lagging the 65% gain in Bitcoin. The name 'Pectra' is a combination of Prague, the location of the Devcon IV development conference, and Electra, a blue-white giant star in the constellation of Taurus, according to Permalink | © Copyright 2025 All rights reserved
Yahoo
30-04-2025
- Business
- Yahoo
Spot Ethereum ETFs Bounce: Legit Rally or Will Gas Run Out?
Investors have poured nearly a quarter-billion dollars into spot Ethereum ETFs over the past four days, even as the price is little changed, on hopes the battered cryptocurrency's planned structural changes will spark widespread use and investment. U.S. spot ethereum exchange-traded funds, eight of which were approved for trading last June, a half-year after spot bitcoin ETFs hit the market, pulled in $245 million over the past four days, according to London-based Coinshares. Those funds fell in today's trading. While the price of Ethereum is little-changed over the past few days and down 45% since the year began, it's surged 25% since dipping to a one-year low in early April, according to Investors are betting that the Securities and Exchange Commission will permit so-called staking—the cryptocurrency's validation mechanism that acts as a sort of yield device—in the ETFs. 'The idea that you could get yield from a crypto ETF is certainly a strong institutional narrative and anecdotally has made these kinds of products successful in Europe and elsewhere,' Luke Nolan, senior Ethereum research associate at London-based Coinshares, said in an email. 'It helps drive conversations that we have with investors here in Europe.' Ethereum's developers are also eyeing technological changes—so-called Layer 1 scaling—to counteract the token's reputation for being slow and expensive compared with others, Nolan said. 'It is too early to say whether this has legs or not, but these factors all seem to be playing in Ethereum's favor in the short run and if the overall market holds up well over the next few weeks, could spark a long-awaited ETH rally,' Nolan wrote. Ethereum's declines contrast with No. 1 crypto bitcoin, which is little-changed since the year began and 55% higher year over year. Source: The largest Ethereum ETF, the $2.25 billion iShares Ethereum Trust (ETHA) was down 3.1% at | © Copyright 2025 All rights reserved Sign in to access your portfolio
