Ethereum

Crypto Markets Rebound After SEC Closes Investigation into Ethereum 2.0

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Spot Bitcoin ETFs saw $152 million in net outflows on Tuesday.

Crypto markets rallied on Wednesday after the SEC officially closed its investigation into Ethereum 2.0.

While Bitcoin trades relatively flat, Ethereum jumped 4%, bringing its monthly gain to 14%. Meanwhile, Polkadot and Solana rose 3%.

ETH Price

Many tokens closely tied to Ethereum, like Lido DAO’s Governance Token (LDO), Ethereum Name Service (ENS), and Maker (MKR), are up between 12% and 20% over the past 24 hours.

Pendle Yield Trading Protocol is today the biggest gainer among the top 100 digital assets by market cap after a 21% surge.

On June 18, Consensys, the blockchain software development company that recently sued the SEC over its attempts to classify ETH as a security, announcement that the SEC ends its investigation into Ethereum.

“The SEC’s Enforcement division has informed us that it is closing its investigation into Ethereum 2.0,” Consensys posted on securities.”

Ethereum 2.0 was a term formerly used to describe Ethereum’s transition to a Proof of Stake (PoS) network.

Spot Bitcoin exchange-traded funds (ETFs) saw $152 million in net outflows on Tuesday, continuing a four-day streak of outflows. Fidelity’s FBTC led outflows with $83 million, followed by Grayscale’s GBTC with $62 million, according to Other side data.

Meanwhile, US stock markets saw a slight rise on Wednesday. The Dow rose 0.15%, while the Nasdaq Composite was flat and the S&P 500 was up 0.30%.

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