The price of Ethereum and native tokens is rising, investors are betting on Ethereum ETF

According to CoinDesk, in the past 24 hours, the price of Ethereum (ETH) and its native tokens for applications built on Ethereum have risen. Investors are betting that after the approval of a Bitcoin ETF in the United States, an Ethereum ETF may also be approved. Ethereum rose to over $2400 during early European trading on Wednesday, with a 5% increase in the past 24 hours. The governance token LDO of decentralized autonomous organization (DAO) Lido has increased by more than 20%, while ARB tokens of Ethereum's scaling solution Arbitrum have seen an increase of nearly 17%. Bitcoin has fallen by 2.2%.

BlackRock has submitted an S-1 form to the U.S. Securities and Exchange Commission (SEC), applying to launch iShares Ethereum Trust spot Ether ETF. With expectations that SEC will approve spot Bitcoin ETF today at the earliest within the crypto industry, both BlackRock (BLK) and ARK 21Shares have lowered their proposed ETF fees and joined competitors who announced fee reductions yesterday. In a new S-1 filing on Wednesday, BlackRock stated that it would charge a fee of 25 basis points on net asset value, compared to the previously disclosed fee of 30 basis points on Monday. This asset management giant will offer a promotional rate of 12 basis points for assets up to $5 billion within the first twelve months after listing. ARK 21Shares reduced its fees by four basis points to 0.21%, previously stating it would charge a fee of 0.25%. Both companies will completely waive fees for assets within either six months or $1 billion, whichever comes first.