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SEC's ETH Investigation Dropped!
The SEC has decided to drop its investigation into whether ETH is a security.
Danielle du Toit
June 19, 2024
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SEC Drops Investigation Into Ether’s Security Status: Consensys
Martin Shkreli’s DJT Token Involvement Raises Questions of Trump Ties
US Spot Bitcoin ETFs See $152 Million in Net Outflows, Extending Negative Streak to Four Days
Bitwise’s Amended Ethereum ETF Filing Says Pantera Interested in $100M Buy
Consensys announced that the SEC has decided to drop its investigation into whether ETH is a security, but Consensys' lawsuit against the agency is still ongoing.
On Jun. 19, Consensys announced that the SEC's Enforcement Division closed its investigation into Ethereum 2.0.
Consensys sued the SEC in April after receiving a Wells notice claiming MetaMask might have violated securities laws. The SEC also issued subpoenas to multiple companies in March in an attempt to classify ETH as a security.
Despite the SEC closing its investigation into Ethereum, Consensys is committed to holding the SEC accountable as its lawsuit against the agency is still ongoing.
Martin Shkreli has claimed that he was involved in the creation of the Solana-based token DJT.
During a Jun. 18 X Spaces session, Martin Shkreli revealed that he helped a friend launch DJT in April. This ended up intensifying rumors linking the token to Donald Trump's family, especially Barron Trump.
Shkreli stated that about 10 people were directly involved in creating the token, with an additional 40 to 50 aware of its development, including Barron Trump.
Arkham Intelligence offered a $150,000 bounty to anyone who could identify the creator of DJT, just four hours before Shkreli's revelations.
U.S. spot Bitcoin ETFs recorded $152.42 million in net outflows on Tuesday.
Fidelity's FBTC saw the largest outflow among the 11 ETFs with a net outflow of $83 million, followed by Grayscale’s GBTC with $62 million and Bitwise’s BITB with $7 million.
The remaining eight ETFs recorded zero flows on Tuesday.
The 11 spot Bitcoin ETFs had cumulative net inflows of $14.81 billion as of Tuesday, down from a peak of $15.69 billion on Jun. 7.
Asset management firm Bitwise shared that Pantera is interested in buying its upcoming spot Ether ETF.
Bitwise’s Jun. 18 filing with the SEC revealed that Pantera Capital Management has shown interest in buying up to $100 million worth of shares in its Ether ETF.
The filing did, however, acknowledge that Pantera Capital's interest is not a binding agreement, meaning they could decide to purchase more, fewer, or no shares at all.
On May 23, the SEC approved 19b-4 filings from eight Ether ETF bidders, but the ETFs still require Form S-1 approvals before they can start trading on U.S. exchanges.
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