Ethereum Price Rises to $2,750 Amid DeFi Engagement and ETF Filing
Ethereum Price Update
- Ethereum price reached $2,750 amid a broader market recovery, aiming for $3,000.
- Price down over 17% monthly due to market turbulence.
- Current realized price at $2,263, indicating potential support and resistance levels.
- Historically, market tops and bottoms align with realized price bands.
Source: CryptoQuant
Ethereum Foundation Investments
- Ethereum Foundation allocated $53.4 million to DeFi projects Spark and Aave.
- 10,000 ETH transferred to each project as part of its engagement strategy in DeFi.
Source: Spot On Chain
Staked Ethereum ETF Filing
- 21Shares filed for a staked Ethereum ETF with the Chicago Board Options Exchange.
- The product is named “21Shares Core Ethereum ETF”, requesting staking capabilities.
- Planned features include secure custody and earning staking rewards.
- ETF will stake only ETH held by the Trust, avoiding external pooling.
- The filing deadline is around the end of October.