Ethereum ETF & FIT21 Will get Greenlight, PEPE Leads Meme Cash

As another week draws to a close in the cryptocurrency sphere, the market has been a hotbed of attention-grabbing developments. The long-awaited spot Ethereum ETFs received the green light from the U.S. SEC (Securities and Exchange Commission), and the first major crypto bill, FIT21, also cleared this week. In a testament to the market’s volatility, Bitcoin, Ethereum, and other cryptocurrencies experienced a mixed bag of price action. Meanwhile, Pepe coin (PEPE) has emerged as a trending topic in the crypto community.

Here’s a collection of some of this week’s top headlines, which appear to have set off a wave of discussions across the global crypto community.

Spot Ethereum ETF Approval

Marking as a landmark event within United States’ crypto landscape, the SEC gave 8 spot ETH ETFs a green light via an omnibus order this week. These ETH ETFs included VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.

However, contrary to the surge in BTC price post-ETF approval, ETH’s price action witnessed quite the turbulence. This has stirred a whirlpool of speculation on ETH’s price action ahead.

FIT21 Crypto Bill Gets Clearance

Moreover, the U.S. House passed the FIT21 (Financial Innovation and Technology for the 21st Century Act) bill this week, marking the first step towards a regulatory framework for digital assets nationwide. The crypto bill clarifies that digital assets sold under an investment contract do not necessarily classify the asset as a security solely because it’s being sold or transferred within that investment contract.

Notably, this has emerged as a potential game changer for the Ripple vs U.S. SEC lawsuit, while the broader community continues to speculate over the crypto bill’s impact on ETH’s status as a security lawsuit.

Also, XRP whales shuffled nearly 300 million coins amid this legal development.

Also Read: 3 Dog-Themed Meme Coins To Buy Amid Dogecoin’s Bullish Projections

PEPE Leads The Meme Coin Sector

Whereas Pepe coin, a renowned frog-themed meme cryptocurrency, has surged phenomenally amid the broader market’s turbulence. Scaling multiple new ATHs, the frog-themed token has led the meme coin sector in offering investors gains.

Notably, PEPE also overtook ICP (Internet Computer Protocol) to secure the 20th spot in global rankings by market cap this week, although it slipped back to the 21st rank shortly after. Also, its most recent ATH is $0.00001577.

Also Read: Coinbase and SEC File Stipulation and Proposed Protective Order

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