SEC Delays Decision on Grayscale’s Ethereum ETF Staking Proposal

Monicah W

The SEC has delayed its decision on whether to allow staking for Grayscale’s proposed Ethereum spot ETFs. 

The ETFs in question—Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust ETF—were filed by NYSE Arca on February 14, 2025. The filing included a rule change request to enable staking as part of their investment strategy.

SEC Pushes Back Grayscale Ethereum ETF Staking Deadline July

The SEC deadline for deciding on the original proposal was set to conclude on April 17. Under the Securities Exchange Act of 1934, the SEC is authorized to extend this review period for up to 90 days. 

The agency has now exercised that option. This now allows the SEC to decide on this filing by July 2025. 

Staking would allow the ETFs to earn rewards by participating in Ethereum’s proof-of-stake consensus mechanism, a feature not yet approved for any US spot crypto ETF. 

Grayscale has proposed that staking be conducted exclusively by the sponsor without commingling funds. Also, Coinbase Custody would continue safeguarding the ETH assets.

The SEC’s delay is part of a broader pattern of cautious regulatory scrutiny over crypto ETF innovations, including similar filings from other asset managers. 

The post SEC Delays Decision on Grayscale’s Ethereum ETF Staking Proposal appeared first on BeInCrypto.

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Fartcoin (FARTCOIN) Extends Rally, Tops Daily Gainers with 9% Surge

Solana-based meme coin FARTCOIN has extended its winning streak, recording another 9% rally over the past 24 hours. 

It has outperformed major crypto assets and currently ranks as the market’s top gainer over the past day.

FARTCOIN Rides High with Strong Support

An assessment of the FARTCOIN/USD one-day chart shows that the meme coin now trades well above its Ichimoku Cloud. 

FARTCOIN Ichimoku Cloud.
FARTCOIN Ichimoku Cloud. Source: TradingView

The Leading Spans A and B, which comprise the momentum indicator, sit beneath FARTCOIN’s price, forming dynamic support levels at $0.68 and $0.59, respectively. For context, the altcoin trades well above these price points at $0.91.

This setup suggests that FARTCOIN remains in a strong uptrend, with the Ichimoku Cloud offering support in case of any pullbacks.

Traders often see this structure as a signal of sustained buying interest and market confidence. Therefore, as long as FARTCOIN’s price holds above these leading spans, bullish momentum will likely remain intact.

Further, the meme coin’s Relative Strength Index (RSI) remains below 70, which means it has not yet hit overbought conditions, leaving room for further upside. At press time, this indicator, which measures an asset’s oversold and overbought market conditions, is at 68.38. 

FARTCOIN RSI
FARTCOIN RSI. Source: TradingView

This RSI reading signals that FARTCOIN is approaching overbought territory but has not crossed the 70 threshold yet. It suggests strong bullish momentum and hints at further price gains before buyers’ exhaustion hits. 

FARTCOIN Eyes Major Upside, But Sell Pressure Could Trigger Price Pullback

FARTCOIN’s current position above its Ichimoku Cloud signals that it has not just broken through key resistance levels but is now trading firmly in bullish territory. This indicates a clear shift in market sentiment, with buyers stepping in aggressively to support the rally.

If bullish pressure remains, FARTCOIN could continue its rally and climb toward $1.16.

FARTCOIN Price Analysis
FARTCOIN Price Analysis. Source: TradingView

However, a resurgence in profit-taking activity could invalidate this bullish projection. If sell-side pressure spikes, FARTCOIN could shed some of its gains and fall to $0.74.

If the support floor fails to hold, FARTCOIN risks plunging below the Ichimoku Cloud to exchange hands at $0.19.

The post Fartcoin (FARTCOIN) Extends Rally, Tops Daily Gainers with 9% Surge appeared first on BeInCrypto.