In order to implement staking for the 21Shares Core Ethereum exchange-traded fund, the Cboe BZX Exchange is requesting SEC clearance.
Cboe BZX has applied for SEC authority to stake the Ethereum (ETH) owned in the fund in a recent filing, Form 19b-4. This is the first time staking has been suggested by an ETF in the United States. If accepted, this would enable investors to stake their ether and earn rewards—something that Ethereum ETFs do not now do.
In order to help safeguard the Ethereum network and generate passive revenue, staking entails locking up Ethereum. Compared to simply owning ETH ETFs, staking may present new chances for investors to generate additional gains. Because the ETH won’t be transferred throughout the staking process, Cboe BZX intends to employ a “point-and-click” mechanism, which reduces the possibility of theft.
The 21Shares Core Ethereum ETF was certified last year, but it did not permit staking. Because of concerns that it would be against securities regulations, the SEC has been reluctant to permit staking in ETFs. Investor confidence that the SEC may eventually take into account staking in ETF products has been bolstered by changes in the agency’s leadership.
SEC Commissioner Hester Peirce has been pushing for revisions to the regulations that would enable staking in Ethereum ETFs. James Seyffart, an ETF analyst for Bloomberg, was upbeat about the filing’s prospects, stating that he thinks it will probably be accepted. Given the ambiguity surrounding regulatory choices, he continues to exercise caution.
NEW: I believe this is the first ETF to file with the SEC and request the ability to permit Staking. @21Shares pic.twitter.com/fZIqDcd7PE
— James Seyffart (@JSeyff) February 12, 2025
Shortly after the announcement, Ethereum’s price increased by around 6% as a result of this news. Now, the SEC has 240 days to make a decision about the request. If accepted, the modification may promote additional Ethereum ETF investments and bolster Ethereum’s reputation as a long-term investment.
Elon Musk’s DOGE site goes live sharing key plans ahead
Elon Musk’s Department of Government Efficiency (DOGE) has a functioning website with information on government expenditure cutbacks and other topics.
The official website for Elon Musk’s Department of Government Efficiency (DOGE) was launched on Thursday, marking a significant milestone. With this effort, the Trump administration’s advisory body is still prepared to provide updates on government budget reduction, greatly simplifying federal processes. In the meanwhile, the leader of SpaceX and Tesla shared what the panel hopes to accomplish in the future, adding to the national frenzy.
Elon Musk’s DOGE official website goes live
The Department of Government Efficiency announced in an official X post on February 13 that the official website, doge.gov, is now operational. Important updates on government expenditure cutbacks, agency staff performance, and the panel’s role in simplifying federal operations will be made available to the public through this portal.
According to Elon Musk, this website will disclose “details of cost savings.” The head of SpaceX and Tesla also disclosed that he plans to work on the panel for the next four months, mainly to reduce the budget by $2 trillion.
What to expect?
Given this trend, Charles Gasparino, a FOX Biz journalist, stated on X that it is anticipated that “inflation will be dropping to 2%” if the objectives of the advising department are fulfilled. CoinGape noted that the most recent U.S. CPI inflation data for January was 3% YoY hotter than anticipated. The attitude of the larger risk assets market may significantly improve if the recently established government panel accomplishes its goals.
Additionally, the advisory group plans to release a “description for the amount of each cost reduction” and a “overall savings scorecard” by February 14.
All things considered, these recent events have created a lot of attention around the US, and Dogecoin (DOGE) is being closely watched by those involved in the cryptocurrency industry. Because of its similar name, the dog-themed meme coin has received a lot of attention from Elon Musk’s government advisory council during Trump’s administration. Additionally, the American entrepreneur’s prior support and influence over the token is responsible for the market excitement.
BNB market cap surpasses Solana (SOL) amid Changpeng Zhao’s active promotion
The market valuation of BNB, the native cryptocurrency for the BNB chain, has significantly increased and now exceeds that of Solana (SOL).
It comes after the Binance exchange’s founder and former CEO, Changpeng Zhao (CZ), has been making headlines lately.
BNB market cap outperforms SOL
BNB’s price has risen 13% in the last week, bringing its market capitalization to over $104 billion and flipping SOL.
Changpeng Zhao (CZ), the founder and former CEO of Binance, offered a forward-looking commentary on this situation. He underlined that this significant event is only the beginning of a larger
“Not a competition. But just the beginning,” CZ remarked.
The traction is further demonstrated by the BNB Chain’s performance, which processed 68.3 million transactions during the last 30 days. According to Dune data, BNB makes up more over 6% of all transactions, second only to Solana.
As a result, it is now essentially the Ethereum Virtual Machine (EVM) chain with the most monthly transactions.
At the same time, meme currencies are making a comeback in the BNB Chain environment, especially with the rise of the Four.meme platform. This technology has enabled the generation of more than 12,000 meme tokens in a single day, according to data on Dune.
The attendance indicates that the BNB Chain community is becoming more interested in meme-based cryptocurrencies, even in the face of competition from Solana’s Pump.fun and Tron’s SunPump. However, threats like malicious assaults continue to exist and can disrupt platform functionality.
As platforms like as Four.meme gain popularity and BNB maintains its upward trajectory, industry analysts continue to focus on the interaction between market sentiment and technology improvements.
Analyst highlight technical bounce for BNB
In the meantime, BNB had the biggest increases of any of the top 30 cryptocurrencies, up 12% to over $711. While the market as a whole suffered, it was one of the few tokens that showed positive price movement. Citing CZ’s impact, cryptocurrency expert Zeus voiced confidence over the price of BNB.
$BNB thread (ill come back to this in a couple months)
I don’t think everyone is bullish enough on BNB . We’re in peak crime season and CZ is one of the if not the greatest criminal in the space
Every chart i look at makes me feel more bullish, I think we get a serious move to… pic.twitter.com/rl6wJdre0u
— Zeus (@DefiZeus) February 12, 2025
The analyst also speculates that because of the BNB chain’s alleged superior efficiency, investors may decide to switch from Solana. They believe that this might have a big impact on BNB’s pricing.
Analysts also speculate that the spike may have been influenced by the introduction of new meme currencies on Binance, such TST and CHEEMS. Market trust in the ecosystem has increased as a result of these listings and CZ’s ongoing promotion of the BNB Chain.
Another important factor in BNB’s recent success could have been the rise in trading activity on Binance, the biggest cryptocurrency exchange in the world.
According to FMCPAY statistics, BNB is currently trading at $697.75, up over 13% over the previous day.
