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.
Hedera (HBAR) is on the move, climbing more than 8% on Friday and extending its seven-day gains to an impressive 21.7%. This rally comes alongside rising momentum signals, including a surging BBTrend and an RSI that has pushed into overbought territory.
Price is also nearing a key resistance zone, backed by bullish EMA alignment that suggests the uptrend may still have room to run.
Hedera’s BBTrend Is Soaring – What Does it Mean?
Hedera’s BBTrend indicator has surged to 6.83, up sharply from just 1.5 two days ago. This jump signals a significant increase in volatility and momentum in the price action.
BBTrend, short for Bollinger Band Trend, is a metric derived from Bollinger Bands that measures the strength and direction of a trend. Values below one typically reflect a weak or flat market, while values above 3 indicate the emergence of a strong trend.
A sudden rise in BBTrend often suggests that the asset is transitioning out of a low-volatility phase and entering a more directional move.
With BBTrend now at 6.83, Hedera may be in the early stages of a strong bullish or bearish breakout. Such elevated levels suggest that volatility is expanding quickly, and price is starting to move decisively away from its recent range.
While BBTrend doesn’t indicate direction on its own, when combined with other bullish signals, like rising price or volume, it can confirm the start of a sustained uptrend.
Traders will watch closely to see if this momentum continues or fades, as a reversal from such elevated levels could also lead to sharp pullbacks.
Hedera RSI Enters Overbought Zone—What Comes Next?
With RSI now well into overbought territory, Hedera may be nearing a local top—at least temporarily. While a high RSI confirms strong bullish momentum, it can also signal that buyers are becoming exhausted.
On the other hand, sustained overbought conditions can also occur during strong uptrends, so that traders will watch closely for either continued breakout strength or signs of reversal.
Hedera Nears Breakout—But Support Levels Are Key
Hedera’s EMA lines show a bullish alignment, with short-term moving averages positioned above the long-term ones—a classic signal of upward momentum.
HBAR price is also trading near a key resistance level at $0.20, which has acted as a ceiling in recent sessions. If buyers can push the price through this zone, the next resistance levels to watch are $0.227 and $0.258.
A strong uptrend continuation could even send HBAR to $0.287, marking its first break above $0.28 since February 1.
However, traders should also monitor the downside risk. If the support at $0.179 is tested and fails, it could trigger a deeper pullback.
In that case, HBAR may slide to $0.16 and possibly $0.152, both of which have served as prior support zones.
If bearish momentum accelerates, a drop toward $0.124 isn’t out of the question, making the current levels a critical battleground for short-term direction.
Token unlocks play a pivotal role in the crypto market, impacting liquidity, price volatility, and investor sentiment. They are events in crypto where locked coins or tokens are released and become available for trading in the open market.
This week, three major projects—Axie Infinity (AXS), Jito Labs (JTO), and Xave (XAV)—will release previously locked tokens into circulation. Here’s what you need to know and watch for.
1. Axie Infinity (AXS)
Unlock Date: April 12
Number of Tokens to be Unlocked: 10.72 Million AXS (3.97% of Total Supply)
Current Circulating Supply: 160.159 Million AXS
Total supply: 270 Million AXS
Axie Infinity is a blockchain-based game featuring digital creatures called Axies, often compared to Pokémon. This pet-centric game combines elements of blockchain, NFTs, and ERC-20 tokens, offering players the chance to collect, battle, and trade unique creatures in a virtual world.
The April 12 unlock will consist of 10.72 million AXS tokens valued at about $29 million. Axie Infinity will award the majority of these tokens for staking rewards and for the team.
Number of Tokens to be Unlocked: 11.31 Million JTO (1.13% of Total Supply)
Current Circulating Supply: 313.37 Million JTO
Total supply: 1 Billion JTO
Jito is a liquid staking service on Solana that distributes MEV rewards to holders. On April 7, Jito will unlock 11.3 million tokens which is currently worth around $20 million.
The project will allocate the majority of the unlocked tokens for ecosystem development, core contributors, and community growth. Additionally, it will allocate 10% of the tokens for airdrops.
Number of Tokens to be Unlocked: 313.29 Million XAV (3.13% of Total Supply)
Total supply: 10 Billion XAV
Xave is a DeFi platform that focus on decentralized foreign exchange (FX) markets. It enhances stablecoin liquidity through an automated market maker (AMM) model.
On April 11, the network will unlock over 313 million XAV tokens, which constitutes just over 3% of the total supply. Xave will largely focus distribution to the team, investors, and treasury.
