tl;dr
The SEC has requested S-1 filings for spot Ethereum (ETH) exchange-traded funds (ETFs) by Friday, following the unexpected approval of spot ETH ETF 19b-4 filings. JPMorgan analysts predict that spot ETH ETFs will not attract significant inflows, attributing this to the removal of staking from ETF is...
The United States Securities and Exchange Commission (SEC) has requested all firms that have filed for spot Ethereum (ETH) exchange-traded funds (ETFs) to submit their amended S-1 filings by Friday. This request comes after the regulator unexpectedly approved the spot ETH ETF 19b-4 filings on May 23 from VanEck, BlackRock, Grayscale, and other applicants. However, the firms’ initial S-1 filings were not aligned with the SEC’s expectations, causing a last-minute scramble to adjust the applications. Despite this setback, the application process is moving forward. The asset management firms have been instructed to resubmit their S-1 filings by Friday, after which the regulator will issue its first round of comments, prompting further amendments.
Meanwhile, a team of analysts at JPMorgan led by Nikolaos Panigirtzoglou published a report predicting that “the initial market reaction to the launch of spot ethereum ETFs is likely to be negative.” The 25-page “Flows & Liquidity” report also read that the spot ETH ETFs will only see a fraction of the demand that was witnessed in spot Bitcoin (BTC) ETFs, where BlackRock and Fidelity made history by accruing $10 billion in Assets Under Management (AUM) in just a few weeks. The JPMorgan analysts attribute Bitcoin’s success to its first-mover advantage, which allowed it to capture the initial demand for crypto products. They also note that the halving event in April “acted as an additional demand catalyst for spot Bitcoin ETFs.” Additionally, ETF issuers have removed staking from their filings, potentially making them less appealing to investors.
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Description: Ucommune International Ltd provides and manages agile office spaces in China and internationally. The company is headquartered in Beijing, China.
Sector: Trade & Services
Industry: Services-Business Services, NEC
Market Cap: 1588400
Dividend Yield: None
EPS: None
PE Ratio: -1.38
Volume: 850.2
Change: -0.0106
Market Cap (Currency): 459820000
Dividend (Currency): None
Change %: 0
Change from 52 Week High: -0.478
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Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES
Market Cap: 105.971B
Dividend Yield: None
EPS: -0.15
P/E Ratio: 1.852
Return on Equity: -0.0891
Volume: 104.671M
52-Week High: 4.88
52-Week Low: 3.42
Price to Sales: 1.128