TLDR
- Coinbase reports highlight Ethereum’s maturity and regulatory compliance, making it a commodity like Bitcoin.
- Fetch.ai returns to the spotlight after a significant rally.
- Analysts suggest a 65x upswing in the value of NuggetRush post-launch.
The crypto landscape might still be abuzz from the recent STRK, JUP, and DYM airdrops, but anticipation around spot Ethereum ETFs intensifies.
On January 10, history was made in the crypto industry when the US SEC approved 11 spot Bitcoin ETFs after a decade-long wait. This marked a significant regulatory milestone for the industry and represents a significant stride towards mainstream adoption and acceptance—very bullish.
Following the success of spot Bitcoin ETFs—boosting the price of BTC above $50,000 and ushering in fresh liquidity—asset managers have been doubling down on Ethereum ETFs. However, the US SEC has postponed its decision on several high-profile Ethereum ETF applications despite its previous stance that ETH isn’t a security.
In recent news—stirring up quite a buzz—crypto exchange Coinbase has thrown its support behind Grayscale’s application. As the asset manager did with its spot Bitcoin ETF, Grayscale’s application involves converting its current Ethereum Trust product into a spot ETF, and Coinbase is urging the SEC to approve the product.
Back to the crypto market, Fetch.ai (FET) returns to the top 100 following an explosive surge, bringing it back into the limelight. Meanwhile, NuggetRush (NUGX), an emerging crypto and a top ICO, is the talk of the crypto community as it prepares for its explosive debut.
NuggetRush (NUGX): Poised For Explosive Growth
NuggetRush (NUGX) is in the fifth round of its ICO—the last phase before its listing. In this round, a token is competitively priced at $0.018, and analysts tip it for a 65x upswing after launch—Lambo!
In addition to its explosive growth potential—one of its biggest appeals—NuggetRush stands out thanks to its blend of P2E, memes, NFTs, and GameFi. This means its appeal cuts across the crypto landscape, making it the best new crypto to invest in.
The upcoming P2E game will feature gold mining and integrate NFTs. Players will go on exciting quests, mine for gold, and collect NFTs, which can be traded or exchanged on the NFT marketplace for real-world assets.
Spot Ethereum ETFs: Coinbase Supports Grayscale Application
Earlier this week, Coinbase, the largest centralized crypto exchange (CEX) in the US, submitted a detailed report highlighting Ethereum’s market maturity and regulatory compliance. The company, which happens to be Grayscale Ethereum Trust’s crypto custodian, argued that Ethereum’s maturity and regulatory compliance make it a commodity like Bitcoin and urged the SEC to approve the investment vehicle.
Grayscale is one of the asset managers vying for spot Ethereum ETFs, hoping to get a bigger slice of the fast-rising crypto market. Its ETF application involves converting its current Ethereum Trust into a spot Ethereum ETF—similar to what it did with its spot Bitcoin ETF. Unsurprisingly, Coinbase has thrown its support behind its ETF application.
In its letter, Coinbase wrote, “The market has long understood that ETH is not a security.” It continues by stating, “Senior officials of the Commission have publicly said as much on several occasions over the past six years, and neither the Commission nor its staff has disavowed this position, even after the merge.”
Further, Coinbase also praised Ethereum’s decentralized governance. The company noted its effectiveness in mitigating the risks of fraud and manipulation. With the SEC set to decide on VanEck’s Ethereum ETF application in May—either approving or rejecting the investment product—it remains to be seen how soon this dream will become a reality.
Fetch.ai (FET): Returning to the Top 100
Fetch.ai (FET) is an AI lab building an open, permissionless machine network with a crypto economy. It democratized access to AI technology, allowing anyone to connect to and access secure datasets. It burst into the limelight on the back of the AI crypto narrative and boasts massive upside potential—a good crypto to buy.
After a recent price dip, Fetch.ai fell outside the top 100 cryptos. However, it won’t be for long as it bounced back, seeing a significant uptick.
Poised to skyrocket and register a new all-time high (ATH), Fetch.ai is a bullish wave not to miss out on. If you don’t want to FOMO (fear of missing out) later on, you can double down and HODL.
Conclusion
Coinbase hopes Ethereum ETFs will be approved by the SEC after urging the regulatory body to approve Grayscale’s ETF application. Meanwhile, Fetch.ai and NuggetRush are on investors’ radars, gearing up to explode. You can participate in the NUGX presale through the link below!
