EA Series Trust ARK 21Shares Active Bitcoin Futures Strategy ETF (BATS: ARKA)

Latest news for EA Series Trust ARK 21Shares Active Bitcoin Futures Strategy ETF (BATS:ARKA)

The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing, under normal circumstances, in exchange-traded bitcoin futures contracts that are cash-settled in U.S. dollars and are traded on, or subject to the rules of, commodity exchanges registered with the Commodity Futures Trading Commission (CFTC), such as the Chicago Mercantile Exchange (the CME) (Bitcoin Futures).

ARK 21Shares Active Bitcoin Futures Strategy ETF

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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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The much-anticipated launch of Ethereum ETFs in the U.S. saw a promising start, attracting a combined net inflow of nearly $107 million on their first day.

Ethereum ETFs Shine On Day 1 With $107M Net Inflows — But What About The Bitcoin ETFs?

EA Series Trust ARK 21Shares Active Bitcoin Futures Strategy ETF

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Arkanova Energy Corp

AMC Enter Hldgs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) short percent of float has fallen 18.44% since its last report. The company recently reported that it has 53.74 million shares sold short, which is 14.91% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.9 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>AMC Enter Hldgs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722352521_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for AMC Enter Hldgs has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing AMC Enter Hldgs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, AMC Enter Hldgs's peer group average for short interest as a percentage of float is 6.74%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Peering Into AMC Enter Hldgs's Recent Short Interest

LivePerson's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPSN#NYSE">LPSN</a>) short percent of float has fallen 29.17% since its last report. The company recently reported that it has 5.70 million shares sold short, which is 7.38% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.82 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>LivePerson Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722352516_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for LivePerson has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing LivePerson's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, LivePerson's peer group average for short interest as a percentage of float is 5.15%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

LPSN

(LPSN) - Analyzing LivePerson's Short Interest

Vertiv Hldgs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) short percent of float has risen 11.01% since its last report. The company recently reported that it has 14.97 million shares sold short, which is 4.84% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.17 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Vertiv Hldgs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722352511_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Vertiv Hldgs has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Vertiv Hldgs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Vertiv Hldgs's peer group average for short interest as a percentage of float is 11.39%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Vertiv Hldgs?

In an unsettling bureaucratic mishap, Kenshay Watkins of Memphis found herself in a nightmarish predicament: legally declared dead by the <a href="https://www.benzinga.com/personal-finance/24/05/39011316/warren-buffett-was-asked-if-social-security-was-a-government-sponsored-ponzi-scheme-for-retirees">Social Security Administration (SSA)</a>, effectively stripping her of access to her finances and health insurance. Despite being very much alive, Watkins has faced significant challenges as she tries to correct this grave error.
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In January, Watkins, a 35-year-old Memphis resident, applied for <a href="https://www.benzinga.com/personal-finance/24/07/39668044/labor-economist-says-if-elon-musk-paid-for-social-security-on-his-salary-for-an-entire-year-it-w">Social Security benefits</a> to assist her after being hospitalized for seizures that made it difficult for her to work and drive. Unfortunately, her benefits were denied. During a visit to the SSA office to appeal this claim, the staff told her that she had been marked deceased on January 10, 2024. This error plunged her life into chaos for more than six months.&nbsp;&nbsp;
"Because I'm labeled deceased, I'm not who they say I am," Watkins told Fox 13 News. This simple yet devastating mistake disrupted every aspect of her life. Newly married, her situation was akin to vanishing into thin air. "Not literally, but tangibly, you've lost your wife and you're a widow," Watkins explained.
See Also: <a href="https://www.benzinga.com/money/fundrise-innovation-fund">When today&#8217;s AI startups go public, most of the rapid growth will be behind them — here&#8217;s how not to get left out.</a>
Letters addressed to "Kenshay Watkins Estate" began to arrive, and debt collectors, banks, and the IRS were informed that she was deceased. Her bank accounts were canceled, debt collectors began seeking repayment, and even her tax return wasn't processed due to her supposed death.&nbsp;
This entire ordeal went beyond just financial troubles, though. "They can't find my social security number, so they can't add me (to health insurance)," Watkins stated. She couldn&#8217;t drive, vote, or work. "Nobody can pay me. They can't deduct taxes. And it's illegal to pay me under the table, or we're both going to jail," she said.
Trending: Are you richer than most people you know?<a href="https://www.benzinga.com/money/are-you-richer-than-most-people"> Here&#8217;s the net worth you need at every age to be above average.</a>
&nbsp;After trying several times to fix the error, including many in-person trips to the Social Security office, Watkins was left feeling frustrated. "It's one of the most frustrating, most disheartening, most complicated, but so uncomplicated because a simple error has caused so much chaos," she sighed. Even though the SSA admitted their mistake in March, it took until mid-July to restore her living status. And this only occurred after Fox 13 contacted Congressman Steve Cohen's office for intervention.&nbsp;
Fox 13 spoke to the Social Security Administration about this mishap and discovered a disturbing statistic: out of approximately 3.1 million annual death reports to the SSA, less than one-third of a percent are incorrect. That percentage may seem small, but it equates to about 10,000 people each year facing the same situation as Watkins.&nbsp;
The whole situation has taken a profound emotional and mental toll on Watkins and her family. "I'm living with a ghost. Literally, paranormal activity," said her wife. Watkins' life is gradually returning to normal, but after the catastrophic effect of one simple bureaucratic error, the path to restoring all of her accounts remains long and arduous.&nbsp;
As Watkins continues to navigate the aftermath of this error, her story serves as a stark reminder of the importance of vigilance and advocacy in dealing with bureaucratic systems. For personalized assistance in navigating such challenges, consulting a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> can be invaluable in ensuring your financial and legal matters are accurately managed and protected.
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<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
</ul>

Personal Finance

Social Security Administration Accidentally 'Kills' Memphis Woman, Blocking Her From Access To Money And Health Insurance

Legal

Pennsylvania Governor Shapiro Says Has Serious Concerns About Nippon Steel Acquisition Of U.S. Steel; Says Nippon Steel Deal For U.S. Steel Would Not Meet His Approval As It Stands Now

Stephens &amp; Co. analyst Jeff Garro reiterates Evolent Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVH#NYSE">EVH</a>) with a Overweight and maintains $42 price target.

Price Target

Reiteration

Analyst Ratings

Stephens & Co. Reiterates Overweight on Evolent Health, Maintains $42 Price Target

Seaport Global analyst Sunil Sibal maintains Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) with a Buy and raises the price target from $129 to $141.

TRGP

Seaport Global Maintains Buy on Targa Resources, Raises Price Target to $141

Macro Economic Events

Politics

Economics

General

U.S. Treasury's Yellen Says President Biden Wants To See His Successor Make Sure That Households Earning Under $400,000 See No Increase In Taxes; Biden Wants To See Tax Fairness IWTH Higher Taxes On Wealthy And Corporations

Stephens &amp; Co. analyst Mason Carrico reiterates Hologic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>) with a Overweight and maintains $92 price target.

HOLX

Stephens & Co. Reiterates Overweight on Hologic, Maintains $92 Price Target

Amazon.Com Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Prime Video is undercutting rival Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) on advertising pricing as it battles for marketers' attention.
Amazon introduced advertising to its Prime Video platform five months ago and is going through its first "up front," when television companies present their plans to advertisers to attract money for the next year, the Financial Times <a target="_blank" href="https://www.ft.com/content/d45c4153-6c11-4f1e-9009-62f8adf5ac2b" rel="noreferrer noopener">reports</a>.
Many rival platforms, including Netflix, Max, Paramount+, and Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) Disney+, have introduced ad-supported tiers at lower prices than their ad-free subscriptions.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39822614/disney-develops-tech-to-rival-netflix-and-boost-streaming-profits-report" rel="noreferrer noopener">Disney Develops Tech to Rival Netflix and Boost Streaming Profits: Report</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30051840/newplot-74.png" alt="" class="wp-image-464279" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30051840/newplot-74.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30051840/newplot-74-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Analysts expect Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to bring ads to its <a target="_blank" href="https://www.benzinga.com/news/24/07/39886297/apple-adjusts-hollywood-approach-cuts-costs-on-original-shows-report" rel="noreferrer noopener">TV+ service</a> soon.
Advertisers purchase "bundles" in various formats, making direct comparisons difficult. However, multiple executives and advertising leaders told the FT that Amazon is pricing its ad slots more cheaply than Netflix but higher than others like Disney.
The entry of Amazon has forced competitors to lower their prices, the FT cited advertising sources.
The e-commerce giant automatically converted over 200 million global subscribers to the ad tier unless they opted to pay more for the premium ad-free service.
Citi estimated in January that Prime Video adverts could generate over $5 billion in "high-margin advertising revenue" as it expands.
In the second quarter of 2024, Amazon Prime Video and Netflix led the U.S. subscription video-on-demand (SVOD) market, each holding a 22% share, as per <a target="_blank" href="https://www.statista.com/statistics/496011/usa-svod-to-tv-streaming-usage/" rel="noreferrer noopener">Statista</a>.
A <a target="_blank" href="https://www.benzinga.com/news/24/07/39886297/apple-adjusts-hollywood-approach-cuts-costs-on-original-shows-report" rel="noreferrer noopener">recent report</a> indicated that Apple is refining its strategy in Hollywood after spending over $20 billion on original TV shows and movies that have yet to attract large audiences.
Apple's streaming service captures only 0.2% of TV viewing in the U.S. This is significantly lower than competitors like Netflix, which sees more monthly views than Apple does in a day.
Apple plans to make its streaming business more sustainable by paying less upfront for shows and canceling underperforming series faster.
Price Action: AMZN shares are trading higher by 0.45% at $184.03 at the last check on Tuesday.
Also Read:
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<li><a href="https://www.benzinga.com/news/24/07/40012785/amazons-twitch-sees-growth-slowdown-profitability-issues" target="_blank" rel="noreferrer noopener">Amazon's Twitch Sees Growth Slowdown, Profitability Issues</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Tech

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AAPL

AMZN

NFLX

Amazon Challenges Netflix with Cheaper Ad Slots, Boosts Prime Video Ads: Report

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Collegium Pharmaceutical shares are trading higher after HC Wainwright & Co upgraded the stock from Neutral to Buy announced a price target of $47.

Seaport Global analyst Sunil Sibal maintains ONEOK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>) with a Buy and raises the price target from $88 to $89.

Seaport Global Maintains Buy on ONEOK, Raises Price Target to $89

<a href="https://www.reuters.com/technology/google-parent-alphabets-partnership-with-anthropic-under-investigation-uk-2024-07-30/">https://www.reuters.com/technology/google-parent-alphabets-partnership-with-anthropic-under-investigation-uk-2024-07-30/</a>
Britain's antitrust watchdog is scrutinising Google-parent Alphabet's <a href="https://www.reuters.com/markets/companies/GOOGL.O">(GOOGL.O), opens new tab</a> partnership with artificial intelligence startup Anthropic and its impact on competition, the regulator said on Tuesday.
More than 18 months after Microsoft-backed <a href="https://www.reuters.com/markets/companies/MSFT.O">(MSFT.O), opens new tab</a> OpenAI triggered an AI boom with the release of ChatGPT, antitrust regulators around the world have been increasingly concerned by multiple deals struck between smaller industry startups and big tech giants.
Agreements under scrutiny include Microsoft's partnerships with startups such as OpenAI, Inflection AI, and Mistral AI, as well as Alphabet's ties to other smaller companies such as Anthropic and Cohere.
Anthropic's Claude AI models have vied for prominence with OpenAI's GPT series.
Last week, Britain's Competition and Markets Authority (CMA) <a href="https://www.reuters.com/technology/artificial-intelligence/us-european-regulators-sign-joint-statement-effective-ai-competition-2024-07-23/">issued a joint statement</a> alongside its counterparts in the United States and the European Union, promising to work together to safeguard fair competition in the AI industry.
Anthropic, which was co-founded by former OpenAI executives and siblings Dario and Daniela Amodei, last year said it had <a href="https://www.reuters.com/technology/google-agrees-invest-up-2-bln-openai-rival-anthropic-wsj-2023-10-27/">secured $500 million</a> in investment from Alphabet, promising another $1.5 billion over time. Anthropic also uses Alphabet's Google Cloud services as part of its operations.
On Tuesday, the CMA said it was now seeking views on whether the Alphabet-Anthropic partnership could lessen competition in the UK, and has set a deadline of Aug. 13 for its invitation to comment.
A spokesperson for Anthropic said the company would cooperate with the CMA and provide the "complete picture" about its partnership with Google. "We are an independent company and none of our strategic partnerships or investor relationships diminish the independence of our corporate governance or our freedom to partner with others," they said.
The CMA will decide whether to launch an official investigation at the end of this process.
&nbsp;
A Google spokesperson said: "Google is committed to building the most open and innovative AI ecosystem in the world. Anthropic is free to use multiple cloud providers and does, and we don't demand exclusive tech rights."

GOOG

GOOGL

Reported Earlier, 'Google Parent's Partnership With AI Startup Anthropic Under UK Scrutiny' - Reuters

<a href="https://www.politico.com/live-updates/2024/07/30/congress/house-bytedance-removal-00171812" title="https://www.politico.com/live-updates/2024/07/30/congress/house-bytedance-removal-00171812">https://www.politico.com/live-updates/2024/07/30/congress/house-bytedance-removal-00171812</a>

PINS

SNAP

House Cybersecurity To Block And Remove All ByteDance Products From House Devices Starting August 15; Includes TikTok, Capcut, Lemon8, Lark, And Hypic; Process Begins With Mobile Devices, Followed By Desktop Versions

Biotech

Pfizer Exec Says Co Has Significantly Strengthened Its Contracting Position For RSV Vaccine Abrysvo, Changes Set To Take Effect In August

Macro Notification

BOJ Board Members To Discuss Raising Rates To 0.25%, Reports NHK

Citigroup analyst Michael Ward maintains Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) with a Sell and raises the price target from $200 to $203.

Citigroup Maintains Sell on Travelers Companies, Raises Price Target to $203

JBLU

JetBlue Exec Says Expects Total Cap-Ex Next Year To Be A Few Hundred Million Lower YoY

Guidance

Pfizer Executive Expects Obesity Pill Dose Data By March 2025

<a href="https://www.bloomberg.com/news/articles/2024-07-30/starbucks-app-users-report-outage-ahead-of-buy-one-get-one-deal?sref=y3YMCJ4e">https://www.bloomberg.com/news/articles/2024-07-30/starbucks-app-users-report-outage-ahead-of-buy-one-get-one-deal?sref=y3YMCJ4e</a>
<a href="https://www.bloomberg.com/quote/SBUX:US">Starbucks Corp.</a>'s mobile ordering via its app appeared to be down on Tuesday morning.
About 1,400 users reported issues around 9 a.m. in New York, <a href="https://downdetector.com/status/starbucks/">according</a> to Downdetector. Attempts at mobile ordering by users in Chicago, New York and Atlanta showed a "system error" around that time. The company didn't immediately respond to requests for comment.

SBUX

'Starbucks App Users Report Outage Ahead of Buy One, Get One Deal' - Bloomberg News

Cathie Wood's ARK Invest launches crypto ETFs in partnership with 21Shares

Cathie Wood's ARKW exits Grayscale Bitcoin Trust, buys BITO

Cathie Wood's ARKW exits Grayscale Bitcoin Trust, buys BITO (updated)

Wall Street Breakfast Podcast: Goodbye 2023, Hello 2024

Hysteria over a spot Bitcoin ETF reaches fever pitch: Why is it such a big deal?

Quick Takeaways From The Spot Bitcoin ETF Launch

Trump's new 'Crypto First' mantra has investors sizing up the industry

Trump Courts Crypto Fans Amid Bitcoin's Battle To Break $70k Barrier

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The much-anticipated <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39913874/ethereum-etfs-are-live-heres-how-experts-assess-their-launch">launch of Ethereum ETFs</a> in the U.S. saw a promising start, attracting a combined net inflow of nearly $107 million on their first day.



What Happened: The launch saw a flurry of activity with over $1 billion in shares traded across nine newly introduced ETFs.



BlackRock Inc.'s iShares Ethereum Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>) led the pack with the highest level of inflows on Tuesday, securing $266.55 million.



Following closely were Bitwise Ethereum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHW#NYSE">ETHW</a>) with $204 million and the Fidelity Ethereum Fund (CBOE: FETH) with $71 million, according to <a href="https://sosovalue.com/assets/etf/us-eth-spot">data</a> from SoSo Value.



This launch comes six months after U.S. regulators greenlighted the first U.S. spot-Bitcoin ETFs, which have collectively drawn in over $17 billion in net inflows this year.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246"/></a></figure>



What Experts Say: Lennix Lai, Global Chief Commercial Officer at OKX told Benzinga that the approval and launch of ETH ETFs shows that the SEC doesn't define ETH as a security and that has a significant implication to the classification of proof-of-stake (PoS) tokens in the market.



This could have cleared many regulatory roadblocks, uncertainty and risks for businesses working with PoS tokens, and even paved the way for the ETFs of other PoS tokens, he added.



&#8220;In terms of price, there could be a short-term price increase for ETH &#8211; given a substantial portion of ETH is staked in the protocol which could lead to scarcity &#8211; but the macro-economic factors are probably more influential than the launch of ETH ETFs,&#8221; he said.



Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), the second-largest digital asset, is highly regarded for blockchain-based financial services.



However, its market value remains less than a third of Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), leading to expectations of smaller inflows compared to Bitcoin ETFs.



The Bitcoin funds benefited from a narrative that positions the leading cryptocurrency as digital gold, a branding advantage that Ethereum lacks.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39915620/ethereum-may-be-headed-for-a-sell-off-after-etfs-launched-10x-research">Ethereum May Be Headed For A Sell-Off After ETFs Launched: 10x Research</a>



Additionally, the new Ether ETFs do not offer staking rewards, a benefit accessible through direct ownership of the token.



The US Securities and Exchange Commission (SEC) gave final approval to the spot Ethereum ETFs on July 22, and trading commenced in the United States on July 23.



What Bitcoin Did: On the same day, Bitcoin spot ETFs <a href="https://sosovalue.com/assets/etf/us-btc-spot">experienced</a> a total net outflow of $77.97 million, marking the first net outflow after 12 consecutive days of net inflows.



Grayscale&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#OTC">GBTC</a>) saw a net outflow of $27.31 million, while Ark &amp; 21Shares&#8216;s ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKA#BATS">ARKA</a>) had an outflow of $52.29 million and Bitwise&#8216;s Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>) recorded an outflow of $70.32 million.



In contrast, BlackRock&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) had a net inflow of $71.94 million.



As the digital asset landscape continues to evolve, the successful launch of Ether ETFs underscores growing investor interest in cryptocurrencies beyond Bitcoin. 



What&#8217;s Next: For more insights into the future of digital assets, join industry leaders at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.



Read Next:



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EA Series Trust ARK 21Shares Active Bitcoin Futures Strategy ETF

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Wednesday, July 24, 2024