The cryptocurrency market continues to move, with recent developments putting both Bitwise and Cardano in the spotlight. Bitwise has officially filed for an Ethereum Exchange Traded Fund (ETF), amid a challenging regulatory environment. At the same time, Cardano founder Charles Hoskinson has humorously responded to criticism of his blockchain, dismissing it as a "zombie" blockchain. Let's dig deeper into these recent events and their implications for the crypto market.
Bitwise proposes Ethereum ETF amid regulatory hurdles
Bitwise has filed the application for an Ethereum ETF with the Securities and Exchange Commission (SEC), following previous success with a Bitcoin ETF. The application includes a correlation analysis between ETH and BTC, aiming to gain approval based on similar market dynamics. Bitwise not only expands into Ethereum with this new ETF application, but also offers an Ethereum futures ETF, known as Bitwise Ethereum Strategy ETF (AETH). However, Bitwise's proposed Ethereum ETF, intended for listing on the NYSE, lacks details such as ticker symbol and fees in the public documents.
Cardano Architect denounces 'zombie blockchain' accusations
Charles Hoskinson, founder of Cardano, humorously responded to an article that labeled several blockchains, including Cardano, as "zombie" blockchains. Hoskinson refuted the criticism, highlighting Cardano's resilience amid ongoing speculation about its viability. His humorous response illustrated the determination of the project and its founder to stand firm amid criticism and doubts.
Recent events surrounding Bitwise and Cardano reflect the ongoing momentum and evolution of the cryptocurrency market. While Bitwise paves the way for more institutional investment with its Ethereum ETF application, Cardano's response to criticism demonstrates the project's determination to defend its place amid challenges. These events remind us that the crypto market is full of surprises and that innovation and resilience are essential attributes for success in this rapidly changing environment.