Bitwise submits formal application for Ethereum ETF, Ethereum surpasses 1 million validators

"Global crypto asset manager Bitwise has filed an S-1 (ETF registration statement) for an Ethereum ETF," Bloomberg analyst James Seifat reported via X. "The ETF is currently listed on the NYSE and is expected to open for trading on the New York Stock Exchange. A 19b-4 (a formal request for review) for the ETF has now been posted on the New York Stock Exchange (NYSE) website. "Until now, the lack of an ETH spot ETF has forced U.S. investors to seek out riskier alternatives to invest in Ethereum. If investors have access to an ETH spot ETF, these funds can flow into a transparent and well-regulated ETH spot ETF."

Meanwhile, Ethereum's transition from POW to POS has pushed the number of validators on the network past 1 million. That's about 26% of Ethereum's total supply. Arkham's data on the largest holdings of Ethereum (ETH) addresses by type is as follows

-1st place: ETH beacon chain deposit contracts, 42.28 million ETH ($1,485.4 million)
-2nd place (exchanges): Coinbase, 6.68 million ETH ($234.8 billion)
-3rd (Institutional): Grayscale, $2.99 million ETH ($105.2 million)
-4th place (Layer 2): Avitrum (ARB), 1.67 million ETH ($5.57 billion)
-5th place (Individual): Rain Lohmus, founder of LHV, Estonia's largest bank, ETH 250,000,000 ($8.78 billion)