May 21, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including the surge in ether (ETH) to above the $3,800 level as traders anticipate a spot ether ETF approval in the U.S. Plus, Fidelity amended its S-1 filing with the SEC and Hex Trust Group issued the first native stablecoin on layer-1 blockchain Flare.

Video transcript

Could have bought Ether ETF B on the horizon and a new Stablecoin hits the market. You're watching Coin Desk daily, I'm your host, Jen Sani Ether hasn't scored the largest gains in the latest crypto bull run that began last October. But things could change in the coming weeks on hopes that a spot Ether ETF will be approved in the United States Coin Desk reported late Monday that the SEC has asked potentially Ether ETF issuers to update key filings, signaling progress being made in the application process. Bloomberg's ETF A also raised the probability of the approval to 75% from just 25%. The ETF speculation could see investors pull money out of other alt coins and pump it into Ether. As of 9:45 a.m. Eastern time, Ether was up more than 20% on the day at above $3800. Outperforming soul and Bitcoin in the past 24 hours. Fidelity amended its S one filing with the SEC indicating that it will not stake Ether in its proposed spot. ETF in previous filings, the firm said it intended to stake a portion of the trust's assets staking involves locking cryptocurrencies to support Blockchain operations in return for rewards with annualized yields on either staking currently around 3% according to data from popular staking service. Lido and Hong Kong based crypto custodian Hex Trust group has issued us DX and new stablecoin on layer one Blockchain flair. That's according to a press release, this makes us DX the first native stablecoin on flair as the Blockchain plans for a boost in defi activity. According to a press release, us DX is backed at a 1 to 1 ratio against the dollar or equivalently valued asset as of 9:45 a.m. Eastern time. Flair's native token FLR rose almost 8% on the day. That's it for coin desk daily. Get more updates on and we'll see you next time.

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