Ark Invest Files for Spot Ether ETF, Genesis Seeks Repayment From DCG

Name: FS Insight
Price range: $$$

Sep 7, 2023

Author

Tom Couture ^AC

BTC -5.14% ETH -1.76% RNDR -3.51%

Market Update The DXY is continuing its rise, holding above $105, as initial jobless claims came in softer than expected (216k actual vs. 234k expected), reigniting higher-for-longer fears. Equity markets are responding negatively, with the SPX (-0.25%) falling to $4,455 and the NDQ (-0.68%) dropping to $15,250. Crypto markets are holding slightly stronger, potentially responding to Ark Invest filing for a spot Ether ETF (more below). $BTC (+0.70%) has risen to $25.9k and $ETH (+0.39%) is hovering near $1,640. Render Network ($RNDR), which offers distributed GPU services, is outperforming today, rising 5.72%. Render’s parent company OTOY is linked to Apple, and investors may be hoping for Render-related news during Apple’s event next week, where they are expected to unveil the latest iPhone model.Yesterday afternoon, Cathie Wood’s Ark Invest and 21Shares filed for a spot Ether ETF, making it the first company to apply for such a product. The application comes as many are expecting an Ether futures ETF to be approved sometime in October. Additionally, the SEC delayed a decision on multiple spot Bitcoin ETF applications last week. Ether has a similar market structure to Bitcoin, with futures and spot markets traded on the Chicago Mercantile Exchange (CME), so if the Bitc

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