Bitwise Files Spot Ethereum ETF Application as Coinbase Gears Up for Dogecoin Futures Launch While BlockDAG’s Presale Has Locked in $12.7 Million

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The crypto landscape is excited about the groundbreaking news setting the stage for a monumental shift! Hot on the heels of the recent advent of the spot Bitcoin ETF, Bitwise has applied to a spot Ethereum ETF and is awaiting the decision from the SEC. 

Meanwhile, Coinbase is set to launch the long-awaited Dogecoin futures contracts. In the presale arena, BlockDAG (BDAG) has captured the spotlight by raising $12.7M, with analysts predicting a massive surge in BDAG’s value by 2025.

Bitwise Files Spot Ethereum ETF Application

Bitwise has applied for a spot Ethereum ETF with the US SEC. Unlike some competitors, Bitwise’s application does not mention staking. The filing on March 28th includes the necessary S-1 and Form 19b-4 documents for public security offerings and stock exchange rule changes, respectively. 

Bitwise, along with eight other applicants, including major firms like Grayscale and BlackRock, awaits the SEC’s decision. However, the SEC’s review process is currently complicated by an investigation into whether Ethereum qualifies as a security, which has led to repeated postponements of decisions on similar spot Ethereum ETF applications.

Dogecoin Futures Incoming

Coinbase is set to launch Dogecoin futures, with contracts sized at 5,000 DOGE, to be settled in USD. This move reflects Dogecoin’s transition from a meme coin to a significant player in the crypto space, attributed to its popularity and active community. 

Currently, DOGE has seen a 43% increase in trading volume despite a slight price drop. Analyst Ali Martinez suggests DOGE could be on the verge of a significant bull run, buoyed by the upcoming Bitcoin halving and potential announcements from Elon Musk regarding X’s payment network.

BlockDAG Among Top Altcoins to Buy for 2024

BlockDAG (BDAG) blasted into the crypto scene by raising $1M in the 24 hours of its presale. Currently, BlockDAG has secured over $12.7 million, and it is setting its sights on the $600M fundraising target by the end of 2024.

At the heart of BlockDAG is a powerful yet efficient network that allows for transaction confirmation at an impressive rate of 10 blocks per second, making BlockDAG the fastest PoW network out there. However, this remarkable speed doesn’t come at the expense of compromising security, as BlockDAG operates on an advanced hybrid security mechanism.

In addition to speed and security, BlockDAG is noteworthy for its commitment to environmental sustainability. To this end, BlockDAG has released the X-series – a lineup of mining rigs designed to minimize energy consumption while maximizing mining output. Depending on the model, these miners can earn up to $100 daily in mining revenue. 

With the recent launch of their whitepaper V2, analysts predict BDAG could be the upcoming 20,000x gem, positioning it as the top altcoin to buy for 2024. With BlockDAG’s growing traction, its prospects for significant appreciation are remarkably strong, presenting a compelling case for investors looking towards the future.

In Summary

Bitwise has applied for a spot Ethereum ETF to the US SEC, joining Grayscale and BlackRock in anticipation of a decision amidst regulatory scrutiny over Ethereum’s security status. Coinbase plans to introduce Dogecoin’s future contracts, highlighting the company’s growing significance and potential for a bull run influenced by market factors and celebrity endorsements. BlockDAG (BDAG) is drawing significant attention in the presale arena, having raised over $12.7M so far and targeting 20,000x ROI by 2024.

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Disclaimer: This sponsored content is not a part of NFTgators’ editorial views and is not an investment advice. Do your due diligence before making any decision.

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