Group 1 - Bitcoin Exchange Traded Funds (ETFs) have recorded net inflows of $26.9 billion in 2023, with BlackRock contributing $28.1 billion, indicating its dominance in the market [1][2] - Without BlackRock's involvement, Bitcoin ETF flows would have been negative, highlighting the firm's significant impact on the sector [2] - BlackRock has opted not to participate in the current altcoin ETF wave, raising questions about the future of these funds without its backing [2][3] Group 2 - Several asset managers, including 21Shares, Canary Capital, and Fidelity, have filed for altcoin ETFs with the SEC, while BlackRock has not pursued similar filings [3] - The altcoin ETFs are awaiting SEC approval, with VanEck filing for the Lido Staked Ethereum ETF and Bitwise Asset Management submitting an S-1 for a Chainlink ETF [4][5] - The altcoin ETFs are designed to utilize standard creation and redemption mechanisms, with a focus on processing both in-kind and cash transactions [5]

Core Viewpoint - VanEck has filed for a Lido Staked Ethereum ETF, marking the first attempt to offer this type of product in the market [1][2]. Group 1: ETF Filing Details - The S-1 registration application for the Lido Staked Ethereum ETF was submitted to the US SEC on October 16, with the fund designed to track the prices of staked ETH based on MarketVector's LDO Staked Ethereum Benchmark Rate index [2][3]. - Investors in the ETF will gain regulated exposure to Ethereum and staking rewards from the Lido liquid staking protocol [3]. Group 2: Market Context and Performance - As of now, there are 8.49 million ETH staked on Lido, valued at over $33.37 billion, representing 59.88% of the total market [5]. - Following the announcement of the ETF filing, the price of stETH has decreased by 5.73% in the last 24 hours, currently trading at $3,775.13, despite a 17.24% increase in trading volume to $84.46 million [7]. Group 3: Regulatory Environment - The SEC's updated Generic Listing Standards will allow for a reduced approval timeline for crypto ETFs, decreasing from 240 days to 75 days, which benefits VanEck's filing [6].

🗞️ Need to catch up on the news? Here's our top 10 from today:🔸 VanEck files S-1 for a Lido Staked Ethereum ETF.🔹 BitMine’s Tom Lee says Ethereum remains “Wall Street’s blockchain,” but warns the digital asset treasury sector may already be in a bubble.🔸 Gold becomes the first asset in history to surpass a $30 trillion market cap.🔹 SEC Commissioner Hester Peirce said tokenization is a “huge focus now” for the agency and urged stronger protections for financial privacy at the DC Privacy Summit.🔸 Andreessen H ...

🚨 JUST IN: VanEck files S-1 for a Lido Staked Ethereum ETF. https://t.co/pAGUDgYOFJ ...

🗞️ Need to catch up on the news? Here's our top 10 from today:🔸 Billionaire Ray Dalio says, “I can’t say exactly how effective Bitcoin is as a money, but it’s being perceived by many as an alternative money and so is worth paying attention to.”🔹 VanEck registers for a Lido Staked Ethereum ETF in Delaware, indicating filing may come soon.🔸 Satoshi Nakamoto’s net worth has climbed back above $130 billion, with none of his $BTC ever sold.🔹 Bitcoin has surpassed Amazon in market capitalization.🔸 JPMorgan says B ...

🚨 JUST IN: VanEck registers for a Lido Staked Ethereum ETF in Delaware, indicating filing may come soon. https://t.co/U9iK4DLI3V ...